Turn-Key Lexington Fourplex
509 W 3rd Street, Lexington, KY 40508
MULTI_FAMILY - Lexington, KY
Property size:
3,585 SFLot size:
0.18 AcresPrice / SF:
$188/SF- Added:
- Apr 14, 2026
- Days on Market:
- 45
- Last Refresh:
- May 28 at 4:06 pm
Property Features for 509 W 3rd Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 4
- Rooms
- Bedroom 3, Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 3, Bathroom 4
- Parking
- 5
- Parking features
- Covered
- Standard status
- Active
- APN
- 14751975
- Size
- 3,585 SF
- Lot size
- 0.18 Acres
Utilities
- Heating system
- Natural Gas, Electric (Heating)
- 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
MLS# 26007853
Listing URL
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HighLights
- Fully leased four‑plex generating over $50,000 in annual rental income.
- Located in the thriving Jefferson Corridor of downtown Lexington, surrounded by high‑end developments.
- Major system upgrades completed in 2021: high‑efficiency heating and cooling, updated and separately metered electrical.
- On‑site garage parking with additional parking available.
- In‑unit washer and dryer and private fenced backyard with community firepit.
- Short distance to the University of Kentucky, Rupp Arena, Transylvania University, dining, and entertainment.
Overview
This turn-key four-plex income property is located in the thriving Jefferson Corridor of downtown Lexington, surrounded by recently completed high-end developments. The property is currently fully leased and generates over $50,000 in annual rental income with low maintenance requirements. Major system upgrades completed in 2021 include high-efficiency heating and cooling, along with updated electrical that is separately metered, offering flexibility for potential individual unit sale. The property preserves its original charm, featuring vaulted ceilings, beautiful hardwood floors, and classic window moldings. Each unit has an in-unit washer and dryer, and access to a private fenced backyard with a community firepit. On-site garage parking is available, with extra parking. The property is ideally located within a short distance to the University of Kentucky, Rupp Arena, Transylvania University, as well as popular dining and entertainment destinations. The lot size is 0.183 acres and the property size is 3585 square feet.
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Lexington
- County
- Fayette
- State
- Kentucky
- Longitude
- -84.498733
- Latitude
- 38.055543
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Fully leased fourplex in Lexington's thriving Jefferson Corridor.
Where is this quadplex located?
The property is located at 509 W 3rd Street Lexington, KY.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Fully leased four‑plex generating over $50,000 in annual rental income.; Located in the thriving Jefferson Corridor of downtown Lexington, surrounded by high‑end developments.; Major system upgrades completed in 2021: high‑efficiency heating and cooling, updated and separately metered electrical.
