315 W 3rd Street, Frankfort, KY 40601
sale
$1,128,000
|
Other
Courtesy Of Marshall Lane Real Estate
Unique business opportunity in the heart of historic South Frankfort. This property offers over 6,400 square feet of finished space across two separate residences, creating multiple possibilities for short-term rental use, a bed and breakfast concept, multigenerational living with income potential, or an owner-occupied investment setup. The main residence offers 4,224 square feet with 5 bedrooms, 3.5 bathrooms, original hardwood floors, beautiful crown molding, a handcrafted carved staircase, soaring ceilings, 6 fireplaces throughout, including 2 gas fireplaces, and a spacious first-floor primary suite. The kitchen features granite countertops and stainless steel appliances, and one of the standout features of the home is the wraparound front porch with hardwood flooring that was recently refinished with a specialty outdoor finish. Behind the main home is a fully furnished 1,600 square foot guest house with 3 bedrooms and 1.5 bathrooms. The guest house features granite countertops, stainless steel appliances, and a new roof, and is currently listed as an Airbnb. This existing short-term rental setup provides a strong starting point for a buyer looking to continue rental use or explore expanding the property's income-producing potential. The layout allows for several possible business models. A buyer could live in one residence while renting the other, continue operating the guest house as a short-term rental, explore using the main residence as a larger short-term rental, or consider a bed and breakfast concept. The property also includes a two-car garage connected to the guest house structure, with exterior access only and no interior access into the guest house, allowing it to function as private garage space for the main residence. With two separate residences, significant finished square footage, historic character, updated kitchens, private garage parking, and an existing Airbnb presence, this South Frankfort property offers a rare opportunity for a buyer looking for both real estate and business potential. Buyer to verify zoning, permitting, licensing, and intended use. STR Financials available upon request.
Read More About This Property
Read Less About This Property
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. Information being provided is 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.
Property Features
- Age: Over 50 Years Old
- Cooling System: Heat Pump
- Heating System: Heat Pump (Heating)
- MLSID: 26014537
Data powered by Attom Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
You may also be interested in...
sale
$1,200,000
Retail
205 Grandview Drive
Frankfort, KY 40601
Building: 9,476 sq. ft.
|
Land: 0.51 Acres
Listed By CENTURY 21 Simpson & Associates
sale
$995,000
Other
Democrat Drive lot: 1D
Frankfort, KY 40601
Land: 1.77 Acres
Courtesy Of Berkshire Hathaway de Movellan Properties
sale
$890,000
Office
4 Physicians Park
Frankfort, KY 40601
Building: 8,040 sq. ft.
|
Land: 1.05 Acres
Courtesy Of The Gibson Company
sale
$885,000
Office
101 St Clair
Frankfort, KY 40601
Building: 9,000 sq. ft.
|
Land: 0.23 Acres
Courtesy Of Marshall Lane Real Estate