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    240 E Third St Lexington, KY 40508

    For Sale
    $309,000

    MULTI_FAMILY - Lexington, KY

    Property size:
    1,967 SF
    Lot size:
    0.13 Acres
    Days on Market:
    36
    Last Refresh:
    Dec 14 at 2:06 pm

    Property Features for 240 E Third St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 4, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 3
    Bedrooms
    4
    Bathrooms
    2
    APN
    10356500
    Size
    1,967 SF
    Lot size
    0.13 Acres

    Utilities

    Heating system
    Natural Gas, Heat Pump (Heating)
    Cooling system
    Electric

    Building Details

    Year built
    1880
    Roof type
    Shingle

    Ro&Co Real Estate (859) 212-6737

    Listing agent Maxine Reyburn (859) 212-6737

    Listing date Nov 9, 2025

    MLS# 25503288 Listing URL

    Copyright © 2025 ImagineMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Lexington Duplex on Double Lot

    Located in downtown Lexington, this duplex is situated on a double lot. The property offers income potential and flexibility. One side of the duplex is currently occupied, providing rental income. The other side is vacant. The property is suitable for investors or owner-occupants looking to expand their real estate portfolio. The location provides convenient access to restaurants, shopping, and other downtown Lexington amenities. The property size is 1967 square feet and the lot size is 0.13 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Realty agency Restaurant Spa & Massage Law Firm Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lexington
    County
    Fayette
    State
    Kentucky
    Longitude
    -84.490202
    Latitude
    38.046917

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    FAQs

    What type of property is this?
    Duplex - Downtown Lexington duplex with income potential on a double lot.
    Where is this duplex located?
    The property is located at 240 E Third St Lexington, KY.
    What is the asking price?
    The asking price for this property is $309,000.
    What are key features of this property?
    This property features: - Prime downtown Lexington location; - Income-producing duplex with one unit currently rented; - Rare double lot
    (859) 212-6737
    Request Owner's contact information
    240 E Third St Lexington, KY 40508
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    Lexington, KY 40508
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    240 E Third St Lexington, KY 40508
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