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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.

Highlights

  • Residential Income
  • Quadruplex
  • 0.3202 Acre Lot
  • 237 days on Market

  • Bedrooms
    7
  • Bathrooms
    5
  • Stories
    3.0
  • Parking Features
    On Site
  • Living Area
    4984.0
  • Cooling
    Central Air, Electric, Window Unit(s), Multi Units
  • Heating
    Natural Gas, Electric

  • Acres
    0.3202

  • Area
    014 - Franklin County
  • County
    Franklin
  • City
    Frankfort
  • Neighborhood
    Downtown
  • Zip Code
    40601
  • High School
    Frankfort
  • Middle School
    Second St Middle
  • Elementary School
    Second St

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Frequently Asked Questions

How do I schedule a tour of 514 Wapping St?

We can make that happen quickly. Click Tour This Home and we'll connect you directly with our vetted local partner to schedule your visit to 514 Wapping St.

They know residential incomes in the area well and can give you the guidance you need to buy with confidence.

How do I get more information about 514 Wapping St?

Click Ask a Question to talk with our team. You already know it is a 7 bed, 5 bath, listed for $469,000. We can talk through recent upgrades, potential seller motivation, how this quadruplex compares to others in Frankfort, and can even get you in to see the property quickly.

How much is the monthly mortgage payment for 514 Wapping St?

With a 20% down payment and a 30-year fixed loan at an illustrative 7.25% rate, the ez Mortgage Calculator estimates the monthly payment for 514 Wapping St at around $2,669. This includes estimated property taxes and insurance.

Want to see how this changes with different down payments or interest rates? Jump to the calculator to run the numbers and fine-tune your plan.

How do I get pre-approved to buy 514 Wapping St?

Stand out in a competitive market by getting pre-approved today. Our quick and private pre-approval process helps you understand your true buying power—no credit pull required to explore all of your options.

Or, let us connect you with our preferred local lender in Franklin County. They will give you all of your available financing options, based on your specific situation and what is available to you.

Can I negotiate the asking price for 514 Wapping St?

In most cases, yes. Whether 514 Wapping St is priced competitively or not, your best offer depends on your personal situation, the seller's timeline, and recent activity in Frankfort's market. Our preferred local partner will help you craft a strategy—factoring in comparable properties that have sold, timing, and deal structure—to make a smart, strong offer. Click here to ask about negotiation opportunities.

How do I make an offer on 514 Wapping St?

We can handle that for you. Our preferred local agent specializes in residential incomes in Frankfort and can guide you through every step of the offer process.

You need an expert who is looking out for your best interests. From market valuation to contingencies and timing, they'll help you present a compelling offer that fits your goals. Click Ask a Question to get started today.

What is the price per square foot for this home?

This home is listed at $469,000 with 4,984 sqft of space—that comes out to approximately $94 per square foot.

How long has this property been on the market?

514 Wapping St was listed on March 20, 2026, which means it's been on the market for 237 days.

Want to keep tabs on it? Click the ♥ to favorite this home and get notified of price drops or changes.

What is the lot size of this property?

514 Wapping St sits on a 0.32-acre lot, which is 13,939 square feet.

What schools are assigned to this property?

Based on MLS info, this home is zoned for:

  • Elementary: Second St
  • Middle: Second St Middle
  • High: Frankfort

Want to see how these schools compare? Check out our Franklin County School Guide to see ratings, reviews, and more for the schools in the area.

Is 514 Wapping St still available for sale?

Yes, this home is still available! Click the ♥ to favorite it so you don't miss any changes—or ask our local expert to schedule a time to see it in person.

Source: ez Home Search, MLS Data

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The data relating to real estate for sale on this website comes in part from the Internet Data Exchange (IDX) Program of Bluegrass REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by IDX brokerage firms other than Rector Hayden Realtors, are marked with the IDX logo or the IDX thumbnail logo and detailed information about them includes the name of the listing IDX brokers. Information deemed reliable but not guaranteed. Copyright © 2026 Bluegrass REALTORS®. All Rights Reserved.

Last Updated: November 12, 2026 at 03:07PM | Source: ImagineMLS (Bluegrass REALTORS) | MLS#: 26005492