Four-Unit Multifamily
For Sale
$479,000
514 Wapping Street, Frankfort, KY 40601
MULTI_FAMILY - Frankfort, KY
Property Size4,984 SF
Lot Size0.32 Acres
Price / SF$96.11
Days on Market135
Property Features for 514 Wapping Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
7
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 5, Bathroom 2, Bathroom 1, Bedroom 1, Bathroom 3, Bathroom 4, Bedroom 3, Bedroom 4, Bathroom 5, Bedroom 2, Bedroom 7, Bedroom 6
Parking
2
Subdivision
Downtown
Elementary school
Second St
Middle school
Second St Middle
High school
Frankfort
Elementary school district
Frankfort Independent
Middle school district
Frankfort Independent
High school district
Frankfort Independent
Directions
Sits on the dead end side of wapping
Standard status
Active
APN
061-24-01-023.00
Size
4,984 SF
Lot size
0.32 Acres
Utilities
Heating system
Electric (Heating), Natural Gas
Cooling system
Multi Units, Electric, Central Air, Window Unit(s)
Amenities
off-street parking
scenic Kentucky River views
Building Details
Floors in Building
3
Number of units
4
Listing Agency:
Marshall Lane Real Estate
(502) 682-1226
Listed By:
Taylor A Marshall · License #240458
(502) 319-2344
Added: Mar 20
Changed: Jul 27
Last Checked: Aug 1 at 7:06AM
MLS# 26005492
Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully leased four-unit multifamily property is maintained and offered as a turnkey investment. All four apartments are currently occupied, with a gross rental income of $4,810 per month ($57,720 annually). Capital improvements noted include a newer roof, professional exterior painting, updated electrical service, and new water heaters. The owner pays approximately $500 per month for water, electric, sewer, and trash, while tenants pay natural gas heating. Unit mix includes one 1-bedroom/1-bath at $750 per month (long-term tenant of approximately 20 years), two 2-bedroom/1-bath units at $1,230 and $1,200 per month, and one 2-bedroom/2-bath unit at $1,630 per month. The 2-bedroom/2-bath tenant also mows the lawn, performs landscaping, and takes trash to the curb.
The property includes off-street parking and scenic Kentucky River views from every unit.
The property includes off-street parking and scenic Kentucky River views from every unit.
Key Highlights
- Four‑unit investment property at 514 Wapping Street in Historic Downtown Frankfort, 100% occupied
- Current gross rental income of $4,810/month ($57,720/year) from a fully leased unit mix
- Recent capital improvements include a newer roof, professional exterior painting, updated electrical service, and new water heaters
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
925
Businesses Nearby
Explore this area
Business Placement
Demographics for 40601, KY
52,133
Population
24,224
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
93%
High-School Grad
217.5 sq mi
ZIP Area
240
Density / Sq Mi
$67,125
Median Household Income
$40,685
Median Earnings
$944
Median Rent
$199,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased four-unit property with recent exterior and system upgrades, off-street parking, and Kentucky River views from each unit.
Where is this quadplex located?
The property is located at 514 Wapping Street Frankfort, KY.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Four‑unit investment property at 514 Wapping Street in Historic Downtown Frankfort, 100% occupied; Current gross rental income of $4,810/month ($57,720/year) from a fully leased unit mix; Recent capital improvements include a newer roof, professional exterior painting, updated electrical service, and new water heaters
