# 506 Steele Street, Frankfort, KY 40601

> **TL;DR:** 10bd/5ba multi-family, $599,900 ($141/sqft), built 1926, 4,250 sqft.
> A/C. Est. $2,600/mo. Listed 12 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $599,900 |
| Price/sqft | $141 |
| Bedrooms | 10 |
| Bathrooms | 5 full |
| Square Feet | 4,250 |
| Year Built | 1926 |
| Lot Size | 10,019 sqft (0.23 acres) |
| Property Type | Multi-Family (Apartment) |
| Status | For Sale |
| Days on Market | 12 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $2,600 |
| **Total** | **$2,600** |

## Nearby Schools

- **Elementary:** Second St
- **Middle:** Second St Middle
- **High:** Franklin Co

## Key Amenities

- A/C

## Property Highlights

- Built in 1926
- 0.23 acre lot

## Description

### Agent 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.

## Location

- **Address:** 506 Steele Street, Frankfort, KY 40601
- **County:** Franklin
- **Neighborhood:** Capital View
- **Coordinates:** 38.190881, -84.878363
- **Google Maps:** https://www.google.com/maps?q=38.190881,-84.878363

## Listing Agent

- **Name:** M Scott Peace
- **Brokerage:** Lifstyl Real Estate
- **Phone:** 5129212794
- **Email:** kypeacehomes@yahoo.com

## Primary Photo

![506 Steele Street - Primary Photo](http://lh.rdcpix.com/2a0a7c543bec54b9fa4faa3443d33a9bl-f1512163974r.jpg)

*49 total photos available on [listing page](https://www.propertysimple.com/listing/506-steele-street-frankfort-ky-40601-26011504)*

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**MLS#:** 26011504 | **Updated:** 2026-06-18
**Source:** listhub

*Copyright © 2026 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/506-steele-street-frankfort-ky-40601-26011504)

---

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