514 Wapping St, Frankfort, KY

Name: 514 Wapping St, For Sale in Frankfort - Zoocasa
Brand: Marshall Lane Real Estate
SKU: 26005492
Price: 479000 USD

House

For Sale

Listed price in listed location currency (USD).

$479,000

752

MLS® 26005492

Overview

Key Facts

Type Quadruplex

Levels Residential Income

Size 4984 sqft

Garage

Taxes

Days Active 62

Lot Size 0.3202 Acres

Approx. Age 9999

Avg. Price Per Sqft $96

MLS® Number 26005492

Property Address: 514 Wapping St, Frankfort, KY, 40601-2662

Average square foot calculated using Size range provided by listing 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.

MLS® Number26005492

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age9999

Basement

DrivewayOn Site

Garage Spaces

HeatElectric, Natural Gas

A/CCentral Air, Electric, Multi Units, Window Unit(s)

Extras

Map

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