509 W 3rd St Lexington, KY 40508
Northside NeighborhoodEstimated payment $4,124/month
Highlights
- Cooling Available
- Lafayette High School Rated A
- Heating System Uses Natural Gas
About This Home
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.
Listing Agent
Bluegrass Sotheby's International Realty License #202808 Listed on: 04/14/2026
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1920
Lot Details
- 7,971 Sq Ft Lot
Home Design
- Quadruplex
- Flat Roof Shape
- Composition Roof
Interior Spaces
- 3,585 Sq Ft Home
- 2-Story Property
Bedrooms and Bathrooms
- 5 Bedrooms
- 4 Full Bathrooms
Parking
- 5 Parking Spaces
- Covered Parking
Schools
- Harrison Elementary School
- Lexington Trad Middle School
- Lafayette High School
Utilities
- Cooling Available
- Heating System Uses Natural Gas
- Natural Gas Connected
Community Details
- Downtown Subdivision
Listing and Financial Details
- Assessor Parcel Number 14751975
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $6,554 | $530,000 | $0 | $0 |
| 2024 | $6,554 | $530,000 | $0 | $0 |
| 2023 | $6,554 | $530,000 | $0 | $0 |
| 2022 | $6,770 | $530,000 | $0 | $0 |
| 2021 | $4,854 | $380,000 | $0 | $0 |
| 2020 | $4,854 | $380,000 | $0 | $0 |
| 2019 | $4,854 | $380,000 | $0 | $0 |
| 2018 | $4,854 | $380,000 | $0 | $0 |
| 2017 | $4,626 | $380,000 | $0 | $0 |
| 2015 | $1,679 | $185,000 | $0 | $0 |
| 2014 | $1,679 | $185,000 | $0 | $0 |
| 2012 | $1,679 | $150,000 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 04/14/2026 04/14/26 | For Sale | $675,000 | +27.4% | $188 / Sq Ft | |
| 02/21/2022 02/21/22 | Sold | $530,000 | -1.9% | -- | View Prior Sale |
| 01/28/2022 01/28/22 | Pending | -- | -- | -- | |
| 01/17/2022 01/17/22 | For Sale | $540,000 | -- | -- |
Source: ImagineMLS (Bluegrass REALTORS®)
MLS Number: 26007853
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