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509 W 3rd Street, 
Lexington, KY 40508

$675,000


5

Beds


4

Baths


3,585

Sq Ft


Multi-Family

Active

Listed by

Susan Kennedy

Bluegrass Sotheby'S International Realty

859-268-0099

Last updated:

April 14, 2026, 07:41 PM

MLS#

26007853

Source:

KY LBAR

About This Home

509 W 3rd Street

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.

Home Facts

Multi-Family

4 Baths

5 Bedrooms

Built in 1920

Price Summary

675,000

$188 per Sq. Ft.

MLS #:

26007853

Last Updated:

April 14, 2026, 07:41 PM

Added:

2 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

5

Bathrooms

Total Bathrooms:

4

Full Bathrooms:

4

Interior

Living Area:

3,585 Sq. Ft.


Structure

Structure

Building Area:

3,585 Sq. Ft.

Year Built:

1920


Lot

Lot Size (Sq. Ft):

7,971


Finances & Disclosures

Finances

Price:

$675,000

Price per Sq. Ft:

$188 per Sq. Ft.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.