509 W 3rd Street Lexington, KY 40508
MULTI_FAMILY - Lexington, KY
- Added:
- Apr 14, 2026
- Days on Market:
- 90
- Last Refresh:
- Jul 12 at 6:06 pm
Property Features for 509 W 3rd Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bathroom 4, Bedroom 5, Bathroom 1, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 2
- Parking
- 5
- Parking features
- Covered
- Standard status
- Active
- APN
- 14751975
- Size
- 3,585 SF
- Lot size
- 0.18 Acres
Utilities
- Heating system
- Electric (Heating), Natural Gas
- Cooling system
- Electric
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Number of units
- 1
- Roof type
- Composition, Flat
Listing agent Susan Kennedy License #202808 (859) 396-6996
Listing office Bluegrass Sotheby's International Realty 1999 Richmond Road Ste 400, Lexington, KY (859) 268-0099
Listing date Apr 14, 2026
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.
Investment Insights
Based on property information with market context.
The property is located at 509 W 3rd Street in downtown Lexington in the Jefferson Corridor. It is within a short distance of the University of Kentucky, Rupp Arena, and Transylvania University, with nearby dining and entertainment options.
For buyers and operators seeking a manageable, residential income asset, the combination of separately metered electrical, upgraded major systems, and in-unit laundry can support unit-level flexibility. The property’s current fully leased status and low-maintenance posture from the documented upgrades may appeal to buyers looking to take over an income-generating operation with established in-place tenancy.
Key Highlights
- Turn‑key 4‑plex currently fully leased and generating over $50,000 in annual rental income
- Major system upgrades include high‑efficiency heating and cooling, plus updated electrical separately metered completed in 2021
- Year built 1920 with vaulted ceilings, hardwood floors, and classic window moldings
