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$ 469,000
Est. payment | /mo
7 Beds
5 Baths
4,984 SqFt
$ 469,000
Est. payment | /mo
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
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Listed by Marshall Lane Real Estate
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