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SimpliHOM - Making Real Estate Simple

support@simplihom.com +1(855) 856-9466

$ 469,000

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Price Dropped by $10K

514 Wapping Street Frankfort, KY 40601

7 Beds

5 Baths

4,984 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 4,984 sqft

Price per Sqft $94

Subdivision Downtown

MLS Listing ID 26005492

Bedrooms 7

Full Baths 5

Lot Size 0.320 Acres

Acres 0.32

Property Sub-Type Quadruplex

Property Description

100% Occupied! Excellent opportunity to acquire a fully leased four-unit investment property in one of Historic Downtown Frankfort's most desirable neighborhoods. This exceptionally maintained property leased all four apartments at market rents in just four days, demonstrating the strong demand for quality rental housing in this location. Owned by the same family for three generations, the building has benefited from numerous recent capital improvements, including a newer roof, professional exterior painting, updated electrical service, and new water heaters. This is a stable, turnkey investment with no known deferred maintenance. Current gross rental income is $4,810 per month ($57,720 annually). Owner pays approximately $500 per month for water, electric, sewer, and trash. Tenants pay their own natural gas heating. Unit Mix: 2 Bedroom / 2 Bath - $1,630/month (tenant also mows the lawn, performs landscaping, and takes trash to the curb) 2 Bedroom / 1 Bath - $1,230/month 2 Bedroom / 1 Bath - $1,200/month 1 Bedroom / 1 Bath - $750/month (long-term tenant of approximately 20 years) Properties of this quality and location rarely become available. With strong cash flow, historic character, off-street parking, and scenic Kentucky River views from every unit, 514 Wapping Street presents a compelling investment opportunity in the heart of Frankfort.

Location

State KY

County Franklin

Interior

Heating Electric, Natural Gas

Cooling Central Air, Electric, Multi Units, Window Unit(s)

Exterior

Parking Features On Site

View Y/N N

Roof Type Dimensional Style

Handicap Access No

Private Pool No

Schools

Elementary Schools Second St

Middle Schools Second St Middle

High Schools Frankfort

Imagine MLS / Bluegrass Association of REALTORS (LBAR)

Listed by Marshall Lane Real Estate

Nearby Locations

ABOUT US

Our Story

From Humble Beginnings to a Nationwide Movement

At simpliHŌM, we know firsthand that real estate is about more than houses — it’s about people, families, and the places they call home. Our journey didn’t begin in a boardroom or with limitless resources. It began with adversity.

Our Founder & CEO, Sean Miku, once found himself on food stamps, without a home, and forced to pick the lock on a water meter just to give his baby girl her first bath. Out of those struggles came a relentless determination to build something better — not only for his own family, but for every agent and client who deserved a simpler, more supportive way to experience real estate.

With just $30,000 and four agents, simpliHŌM was launched in 2018. From those humble beginnings, we’ve grown into a thriving, people-first brokerage spanning multiple states and serving thousands of agents nationwide — all driven by the same mission: Making Real Estate Simple.

Our Mission: Making Real Estate Simple

We believe real estate should be transparent, efficient, and personal. At simpliHŌM, relationships are at the heart of every transaction. Our mission is to remove the unnecessary complexity and stress, creating a seamless experience for clients and empowering agents to thrive.

Innovative Technology Meets Human

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(855) 856-9466

support@simplihom.com