509 W 3rd Street, Lexington, KY 40508
$650,000
Property Type:
Residential Income
Bedrooms:
5
Baths:
4
Square Footage:
3,585
Lot Size (sq. ft.):
7,971
Status:
Active
Current Price:
$650,000
List Date:
4/14/2026
Last Modified:
6/01/2026
Overview
Description
Listing Details MLS# 26007853
Listing Information
- Comp Sale YN
- No
- Property Sub Type
- Quadruplex
Status Change Information
- Price Change Timestamp
- 2026-06-01T13:46:18Z
- Status Change Timestamp
- 2026-04-14
Address
- County
- Fayette
- Street Number
- 509
- Street Direction Prefix
- W
- Street Name
- 3rd
- Street Suffix
- Street
- State
- KY
- Zip Code
- 40508
- Directions
- Newtown Pike to Third Street. Property is on the left.
- Parcel Number
- 14751975
Contract
- Original List Price
- 675000
- Start Showing Date
- 2026-04-14
- Listing Contract Date
- 2026-04-14
- Listing Agreement
- Exclusive Right To Sell
- Occupant Type
- Tenant
- Office Exclusive YN
- No
- List Price/Acre
- 3611111.11
- List Price/SqFt
- 181.31
Tax Legal
- MLS Area Major
- 001 - Fayette County NW
- Subdivision Name
- Downtown
- High School District
- Fayette County - 1
Interior
- Bedrooms Total
- 5
- Bathrooms Total
- 4
- Bathrooms Full
- 4
- Living Area
- 3585
- Living Area Source
- Appraiser
- Bathrooms Half
- 0
More Information
Parking Information
- Parking Total
- 5
Building
- Year Built
- 1920
- Stories Total
- 2
- Accessibility Features YN
- No
Lot
- Lot Size Acres
- 0.183
- Lot Size Square Feet
- 7971.48
Utilities
- Cooling YN
- Yes
- Heating YN
- Yes
- Electricity Connected
- Yes
- Natural Gas Connected
- Yes
- Water Connected
- Yes
Remarks
- Public Remarks
- Turn-key four-plex income property in one of downtown Lexington's most sought-after locations—the thriving Jefferson Corridor, surrounded by recently completed high-end developments. This investment opportunity is currently fully leased, generating over $50,000 in annual rental income with low maintenance requirements. Major system upgrades include high-efficiency heating and cooling, along with updated electrical that is separately metered completed in 2021—offering flexibility for potential individual unit sale. While preserving its original charm featuring vaulted ceilings, beautiful hardwood floors, and classic window moldings. Residents have in-unit washer and dryer and a private fenced backyard with community firepit. Additional highlights include on-site garage parking with extra parking available. Ideally located with short distance to the University of Kentucky, Rupp Arena, Transylvania University, as well as popular dining and entertainment destinations such.
Showing Information
- Showing Instructions
- Minimum 24 hour notice to show.
Tax & Legal
- Elementary School
- Harrison
- Middle Or Junior School
- Lexington Trad
- High School
- Lafayette
- Tax Rate
- 1.2638
Association/Community
- Number Of Buildings
- 1
- Number Of Units Total
- 1
Cooling
- Electric
- Yes
Heating
- Electric
- Yes
- Natural Gas
- Yes
Parking Features
- Covered
- Yes
- Enclosed
- Yes
Possession
- Close Of Escrow
- Yes
Roof
- Composition
- Yes
- Flat
- Yes
Structure Type
- Quadruplex
- Yes
Showing Requirements
- Call Listing Agent
- Yes
Property Features
Utilities:
Electricity Connected; Natural Gas Connected; Water Connected; Electricity Connected; Natural Gas Connected; Water Connected
Cooling:
Electric
Heating:
Electric; Natural Gas
Parking Features:
Covered; Enclosed
Possession:
Close Of Escrow
Roof:
Composition; Flat
Structure Type:
Quadruplex
Showing Requirements:
Call Listing Agent
Sellers Disclosure Of Property Condition ›
Listing Office:
Bluegrass Sotheby's International Realty
Last Updated: June - 01 - 2026
Information deemed reliable but not guaranteed.