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.
For sale
Price cut: $25K (6/1)
$650,000
509 W 3rd St, Lexington, KY 40508
5beds
3,585sqft
Quadruplex
Built in 1920
-- sqft lot
$623,600 Zestimate®
$181/sqft
$-- HOA
What's special
Vaulted ceilingsClassic window moldingsBeautiful hardwood floorsHigh-efficiency heating and coolingCommunity firepitPrivate fenced backyardIn-unit washer and dryer
- 79 days |
- 535 |
- 28 |
Zillow last checked:
Listing updated:
Listed by:
Susan Kennedy 859-396-6996,
Bluegrass Sotheby's International Realty
Source: Imagine MLS,MLS#: 26007853
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Electric, Natural Gas
Cooling
- Electric
Interior area
- Total structure area: 3,585
- Total interior livable area: 3,585 sqft
Property
Parking
- Total spaces: 5
- Parking features: Covered, Enclosed
Lot
- Size: 7,971 Square Feet
Details
- Parcel number: 14751975
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex
- Attached to another structure: Yes
Materials
- Roof: Composition,Flat
Condition
- Year built: 1920
Utilities & green energy
- Utilities for property: Electricity Connected, Natural Gas Connected, Water Connected
Community & HOA
Community
- Subdivision: Downtown
Location
- Region: Lexington
Financial & listing details
- Price per square foot: $181/sqft
- Tax assessed value: $530,000
- Annual tax amount: $6,554
- Date on market: 4/14/2026
Estimated market value
$623,600
$592,000 - $655,000
$1,963/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/1/2026 | Price change | $650,000-3.7%$181/sqft |
Source:  Imagine MLS #26007853 Report a problem | ||
| 4/14/2026 | Listed for sale | $675,000+27.4%$188/sqft |
Source: Imagine MLS #26007853 Report a problem | ||
| 7/29/2025 | Listing removed | $950 |
Source: Imagine MLS #25001098 Report a problem | ||
| 7/24/2025 | Listed for rent | $950-4.5% |
Source: Imagine MLS #25001098 Report a problem | ||
| 7/1/2025 | Listing removed | $995 |
Source: Imagine MLS #25001098 Report a problem | ||
| 6/10/2025 | Price change | $995-9.5% |
Source: Imagine MLS #25001098 Report a problem | ||
| 5/7/2025 | Listed for rent | $1,100 |
Source: Imagine MLS #25001098 Report a problem | ||
| 4/21/2025 | Listing removed | $1,100 |
Source: Imagine MLS #25001098 Report a problem | ||
| 1/30/2025 | Price change | $1,100-8.3% |
Source: Imagine MLS #25001098 Report a problem | ||
| 1/23/2025 | Listed for rent | $1,200 |
Source: Imagine MLS #25001098 Report a problem | ||
| 2/21/2022 | Sold | $530,000-1.9%$148/sqft |
Source: Imagine MLS #22000838 Report a problem | ||
| 1/29/2022 | Pending sale | $540,000$151/sqft |
Source: Imagine MLS #22000838 Report a problem | ||
| 1/17/2022 | Listed for sale | $540,000+10.8%$151/sqft |
Source: Imagine MLS #22000836 Report a problem | ||
| 5/6/2021 | Sold | $487,500-2.9%$136/sqft |
Source: Public Record Report a problem | ||
| 3/29/2021 | Pending sale | $502,000$140/sqft |
Source: Imagine MLS #20020929 Report a problem | ||
| 2/2/2021 | Price change | $502,000-1.2%$140/sqft |
Source: Imagine MLS #20020929 Report a problem | ||
| 11/10/2020 | Price change | $507,900-2.3%$142/sqft |
Source: Imagine MLS #20020929 Report a problem | ||
| 10/8/2020 | Listed for sale | $519,900-1.7%$145/sqft |
Source: Bluegrass Sotheby's Int Realty #20020929 Report a problem | ||
| 3/2/2020 | Listing removed | $529,000$148/sqft |
Source: Bluegrass Sotheby's International Realty #1924266 Report a problem | ||
| 9/25/2019 | Listed for sale | $529,000$148/sqft |
Source: Bluegrass Sotheby's International Realty #1924266 Report a problem | ||
| 9/17/2019 | Pending sale | $529,000$148/sqft |
Source: Bluegrass Sotheby's International Realty #1924266 Report a problem | ||
| 8/15/2019 | Price change | $529,000-3.8%$148/sqft |
Source: Bluegrass Sotheby's International Realty #1924266 Report a problem | ||
| 4/16/2019 | Listed for sale | $549,900+44.7%$153/sqft |
Source: Bluegrass Sotheby's Int Realty #1907877 Report a problem | ||
| 12/9/2015 | Sold | $380,000+105.4%$106/sqft |
Source: Public Record Report a problem | ||
| 7/16/2013 | Sold | $185,000$52/sqft |
Source: Public Record Report a problem | ||
| 4/19/2012 | Sold | $185,000-7.5%$52/sqft |
Source: Public Record Report a problem | ||
| 7/29/2011 | Price change | $199,900-4.8%$56/sqft |
Source: RE/MAX Elite Lexington #1113657 Report a problem | ||
| 7/16/2011 | Listed for sale | $210,000$59/sqft |
Source: RE/MAX Elite Lexington #1113657 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $6,554 | $530,000 |
| 2023 | $6,554 -3.2% | $530,000 |
| 2022 | $6,770 +39.5% | $530,000 +39.5% |
| 2021 | $4,854 | $380,000 |
| 2020 | $4,854 | $380,000 |
| 2019 | $4,854 | $380,000 |
| 2018 | $4,854 +4.9% | $380,000 |
| 2017 | $4,626 +175.6% | $380,000 +105.4% |
| 2015 | $1,679 | $185,000 |
| 2014 | $1,679 | $185,000 +23.3% |
| 2012 | $1,679 | $150,000 |
| 2011 | -- | -- |
| 2010 | -- | -- |
| 2009 | -- | -- |
| 2008 | -- | $150,000 |
| 2006 | -- | -- |
| 2005 | -- | -- |
| 2004 | -- | -- |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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Climate risks
Neighborhood: Duncan Park
Nearby schools
GreatSchools rating
- 5/10Harrison Elementary SchoolGrades: K-5Distance: 0.2 mi
- 5/10Lexington Middle SchoolGrades: 6-8Distance: 0.6 mi
- 10/10Lafayette High SchoolGrades: 9-12Distance: 2.5 mi
Schools provided by the listing agent
- Elementary: Harrison
- Middle: Lexington Trad
- High: Lafayette
Source: Imagine MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
- Kentucky
- Fayette County
- Lexington
- 40508
- Duncan Park
- 509 W 3rd St
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