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Colby Bentley

colby@colbybentley.com +1(502) 681-3572

$ 469,000

Est. payment | -/mo

7 Beds

5 Baths

4,984 SqFt

Save

$ 469,000

Est. payment | -/mo

Save

7 Beds

5 Baths

4,984 SqFt

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 1728750

Bedrooms 7

HOA Y/N No

Abv Grd Liv Area 4,984

Lot Size 10,454 Sqft

Acres 0.24

Property Sub-Type Quadruplex

Source APEX MLS (Greater Louisville Association of REALTORS®)

Land Area 4984

Property Description

00% 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

Direction Downtown, wapping run into the dead end

Interior

Heating Natural Gas

Cooling Ductless, Central Air

Exterior

Exterior Feature Balcony

View Y/N No

Roof Type Flat,Shingle

Porch Deck, Patio, Porch

Garage No

Building

Lot Description Dead End

Sewer Public Sewer

Water Public

Structure Type Wood Frame

Greater Louisville MLS (Metro Search Inc)

Listed by Marshall Lane Real Estate

Nearby Locations

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

+1(502) 681-3572

colby@colbybentley.com

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514 Wapping St Frankfort, KY 40601