# 514 Wapping Street, Frankfort, KY 40601

> **TL;DR:** 7bd/5ba multi-family, $469,000 ($94/sqft), 4,984 sqft.
> A/C. Est. $2,509/mo. Listed 224 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $469,000 |
| Price/sqft | $94 |
| Bedrooms | 7 |
| Bathrooms | 5 full |
| Square Feet | 4,984 |
| Lot Size | 13,948 sqft (0.32 acres) |
| Stories | 3 |
| Property Type | Multi-Family (Quadruplex) |
| Status | Active |
| Days on Market | 224 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Principal & Interest (20% down, 30-year at 6.5%) | $2,372 |
| Estimated Insurance | $137 |
| **Total** | **$2,509** |

## Nearby Schools

- **Elementary:** Second St
- **Middle:** Second St Middle
- **High:** Frankfort

## Key Amenities

- A/C

## Property Highlights

- 0.32 acre lot
- 3 stories
- 2 parking spaces

## Description

### Agent 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

- **Address:** 514 Wapping Street, Frankfort, KY 40601
- **County:** Franklin
- **Neighborhood:** Downtown
- **Coordinates:** 38.199328, -84.882435
- **Google Maps:** https://www.google.com/maps?q=38.199328,-84.882435

## Listing Agent

- **Name:** Taylor A Marshall
- **Brokerage:** Marshall Lane Real Estate
- **Broker Phone:** 502-682-6663
- **Listing URL:** [View original listing](https://www.realtor.com/realestateandhomes-detail/514-Wapping-St-Apt-C_Frankfort_KY_40601_M34920-15303?f=listhub&s=LBARKY&m=26005492&c=propsimple)

## Photos

![514 Wapping Street - Photo 1](http://lh.rdcpix.com/1de9ed77163a4046ba2ac68ef50e4529l-f523061526r.jpg)

![514 Wapping Street - Photo 2](http://lh.rdcpix.com/1de9ed77163a4046ba2ac68ef50e4529l-f419577371r.jpg)

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![514 Wapping Street - Photo 36](http://lh.rdcpix.com/1de9ed77163a4046ba2ac68ef50e4529l-f1438204789r.jpg)

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![514 Wapping Street - Photo 38](http://lh.rdcpix.com/1de9ed77163a4046ba2ac68ef50e4529l-f362317243r.jpg)

![514 Wapping Street - Photo 39](http://lh.rdcpix.com/1de9ed77163a4046ba2ac68ef50e4529l-f1165962677r.jpg)

![514 Wapping Street - Photo 40](http://lh.rdcpix.com/1de9ed77163a4046ba2ac68ef50e4529l-f3115676687r.jpg)

![514 Wapping Street - Photo 41](http://lh.rdcpix.com/1de9ed77163a4046ba2ac68ef50e4529l-f4224615988r.jpg)

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![514 Wapping Street - Photo 44](http://lh.rdcpix.com/1de9ed77163a4046ba2ac68ef50e4529l-f3889452849r.jpg)

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---

**MLS#:** 26005492 | **Updated:** 2026-10-20
**Source:** listhub

*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.*

[View on PropertySimple](https://staging.propertysimple.ai/listing/514-wapping-street-frankfort-ky-40601-02df683f09af4cbb854ee970faee2247)

---

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