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$ 549,900
Price Dropped by $50K
514 Ann Street Frankfort, KY 40601
10 Beds
8 Baths
6,161 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 6,161 sqft
Price per Sqft $89
Subdivision Downtown
MLS Listing ID 26004803
Bedrooms 10
Full Baths 8
Year Built 1829
Lot Size 10,890 Sqft
Acres 0.25
Property Sub-Type Single Family Residence
Property Description
Opportunities like this rarely come along. Built in the 1820s, this all-brick historic property sits in one of the most prime locations in all of Frankfort and is ready for its next chapter. The main house has already been mostly gutted, providing a blank canvas for the next owner to bring their vision to life while preserving incredible historic features that remain intact. Inside you'll find gorgeous original hardwood floors, massive pocket doors, and soaring 12-foot ceilings in several rooms—the kind of craftsmanship that simply can't be replicated today. This property offers tremendous flexibility and could easily be finished as a large single-family historic home with multiple bedrooms and bathrooms, or redesigned as a multi-unit investment property. It would also make an excellent short-term rental, live-work space, or even a boutique business location depending on the buyer's vision. Adding even more value is the guest house located in the backyard, which features four bedrooms and two bathrooms. This structure could remain a spacious guest residence, be used for short-term rentals, or easily be converted into two separate two-bedroom apartments, creating an additional income opportunity. For investors and developers, this project is an ideal candidate for historic restoration tax credits, which may allow 30-40% of qualified improvement costs to be returned as tax credits. That makes this not only an exciting restoration project but also a financially smart one. With its historic character, prime location, and endless possibilities, 514 Ann Street presents a rare opportunity to restore and reimagine one of Frankfort's historic properties. Whether you're looking to create a stunning family home, a unique investment property, or a standout short-term rental, this property offers the chance to bring a true piece of Frankfort history back to life.
Location
State KY
County Franklin
Interior
Flooring Hardwood
Exterior
Parking Features Driveway, Off Street
Utilities Available Cable Available, Electricity Available, Sewer Connected, Water Connected
View Y/N Y
View Neighborhood, Other
Roof Type Shingle
Handicap Access No
Private Pool No
Building
Story Two
Sewer Public Sewer
Level or Stories Two
Schools
Elementary Schools Second St
Middle Schools Second St Middle
High Schools Western Hills
Listed by RO&CO Real Estate