$499,900
 $2,838 est/mo Sourced by Back At You

506 Steele Street 1-5,Frankfort, KY 40601

Frankfort, KY 40601

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Description

506 Steele is a unique 5-unit multifamily property in a great Frankfort location within walking distance to the Kentucky State Capitol and downtown amenities. The property features four large 2 bedroom, 1 bathroom units with a private sun room, along with a distinctive penthouse unit. This well-built building has strong curb appeal and character that stands out from typical apartment properties. Current rents are $4,320 per month with plenty of upside to raise rents to market rates. Rent roll and financials available on Flex. Property can also be packaged together with 201-203 Campbell for investors looking to expand their portfolio with additional Frankfort multifamily units.

Details

MLS #26011504
Listing TypeFor Sale
StyleCondominium
Sub-TypeResale
StatusActive
Year1926
Days On Site92
Listing Provided ByLifstyl Real Estate | M Scott Peace

Features

Bed(s)10
Bath(s) 5 Total
SQ Feet4,250
Units5
Building(s)1
Acreage0.23

Interior

CoolingCentral Air
HeatingElectric
Heating Yes / NoYes
Cooling Yes / NoYes

Area Information

StateKY
CountyFranklin
CityFrankfort
Zip Code40601
Area014 Franklin County
SubareaFranklin County
Community NameCapital View
School DistrictFranklin County
Elementary SchoolSecond St
High SchoolFranklin Co
Listing VS Median (in Capital View)
Price:
$499,900
low | high
Med:
$299,950
89.99799959992% of Average
sqft:
4,250
low | high
Med:
2,635
88% of Average
$ / sqft:
$118
low | high
Med:
$117
50.447134881522% of Average
On site:
92
low | high
Med:
53
100% of Average
Sourced by Back At You

Market Activity 40601

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MLS Internet Data Exchange (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, and that the data is deemed reliable but is not guaranteed accurate by Imagine MLS.

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Learn More About This Property

Coldwell Banker McMahan

Coldwell Banker McMahan

 (502) 241-8811marketing@cbmcmahan.com
StateKY
CountyFranklin
CityFrankfort
Zip Code40601
Area014 Franklin County
SubareaFranklin County
Community NameCapital View
School DistrictFranklin County
Elementary SchoolSecond St
High SchoolFranklin Co
Listing VS Median (in Capital View)
Price:
$499,900
low | high
Med:
$299,950
89.99799959992% of Average
sqft:
4,250
low | high
Med:
2,635
88% of Average
$ / sqft:
$118
low | high
Med:
$117
50.447134881522% of Average
On site:
92
low | high
Med:
53
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $374K - $624K
sqft: 3,000 - 5,000
Nearby Listings Property ImageNearby Listings Details
218 W Campbell Street Property Photo 1
$544,900
218 W Campbell Street
Frankfort, KY 40601
201-203 W Campbell Street A-D Property Photo 1
$359,900
201-203 W Campbell Street A-d
Frankfort, KY 40601
Listing Updated: August 20, 2026 at 3:16:23 PM PDT

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Coldwell Banker McMahan Co

6402 Railroad Avenue
Crestwood, KY 40014
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MLS Internet Data Exchange (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, and that the data is deemed reliable but is not guaranteed accurate by Imagine MLS.
The information is being provided by Greater Louisville MLS. Information deemed accurate but not guaranteed. Information is provided for consumers personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2026 Greater Louisville MLS. All Rights Reserved.
MLS Internet Data Exchange (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, and that the data is deemed reliable but is not guaranteed accurate by the Kentucky Board of REALTORS.
MLS Internet Data Exchange (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, and that the data is deemed reliable but is not guaranteed accurate by the Southern Indiana Board of REALTORS.
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