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For sale
    • Price cut: $25K (7/20)
    $625,000

    509 W 3rd St, Lexington, KY 40508

    5beds
    3,585sqft
    : 
    $4,035/mo
    Get pre-qualified
    Quadruplex
    Built in 1920
    -- sqft lot
    $603,700 Zestimate®
    $174/sqft
    $-- HOA

    What's special

    Vaulted ceilingsClassic window moldingsBeautiful hardwood floorsHigh-efficiency heating and coolingCommunity firepitPrivate fenced backyardIn-unit washer and dryer
    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 $55,000 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.
    124 days
    |
    534
    |
    27
    |

    Zillow last checked:

    Listing updated:

    Listed by:

    Susan Kennedy 859-396-6996,

    Bluegrass Sotheby's International Realty

    Source: Imagine MLS,MLS#: 26007853MLS Logo

      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: $174/sqft
      • Tax assessed value: $530,000
      • Annual tax amount: $6,554
      • Date on market: 4/14/2026

        Estimated market value

        $603,700

        $574,000 - $634,000

        $2,218/mo

        Price history

        DateEventPrice
        7/20/2026Price change$625,000-3.8%$174/sqft
        Source: Imagine MLS #26007853 Report a problem
        6/1/2026Price change$650,000-3.7%$181/sqft
        Source: Imagine MLS #26007853 Report a problem
        4/14/2026Listed for sale$675,000+27.4%$188/sqft
        Source: Imagine MLS #26007853 Report a problem
        7/29/2025Listing removed$950
        Source: Imagine MLS #25001098 Report a problem
        7/24/2025Listed for rent$950-4.5%
        Source: Imagine MLS #25001098 Report a problem
        7/1/2025Listing removed$995
        Source: Imagine MLS #25001098 Report a problem
        6/10/2025Price change$995-9.5%
        Source: Imagine MLS #25001098 Report a problem
        5/7/2025Listed for rent$1,100
        Source: Imagine MLS #25001098 Report a problem
        4/21/2025Listing removed$1,100
        Source: Imagine MLS #25001098 Report a problem
        1/30/2025Price change$1,100-8.3%
        Source: Imagine MLS #25001098 Report a problem
        1/23/2025Listed for rent$1,200
        Source: Imagine MLS #25001098 Report a problem
        2/21/2022Sold$530,000-1.9%$148/sqft
        Source: Imagine MLS #22000838 Report a problem
        1/29/2022Pending sale$540,000$151/sqft
        Source: Imagine MLS #22000838 Report a problem
        1/17/2022Listed for sale$540,000+10.8%$151/sqft
        Source: Imagine MLS #22000836 Report a problem
        5/6/2021Sold$487,500-2.9%$136/sqft
        Source: Public Record Report a problem
        3/29/2021Pending sale$502,000$140/sqft
        Source: Imagine MLS #20020929 Report a problem
        2/2/2021Price change$502,000-1.2%$140/sqft
        Source: Imagine MLS #20020929 Report a problem
        11/10/2020Price change$507,900-2.3%$142/sqft
        Source: Imagine MLS #20020929 Report a problem
        10/8/2020Listed for sale$519,900-1.7%$145/sqft
        Source: Bluegrass Sotheby's Int Realty #20020929 Report a problem
        3/2/2020Listing removed$529,000$148/sqft
        Source: Bluegrass Sotheby's International Realty #1924266 Report a problem
        9/25/2019Listed for sale$529,000$148/sqft
        Source: Bluegrass Sotheby's International Realty #1924266 Report a problem
        9/17/2019Pending sale$529,000$148/sqft
        Source: Bluegrass Sotheby's International Realty #1924266 Report a problem
        8/15/2019Price change$529,000-3.8%$148/sqft
        Source: Bluegrass Sotheby's International Realty #1924266 Report a problem
        4/16/2019Listed for sale$549,900+44.7%$153/sqft
        Source: Bluegrass Sotheby's Int Realty #1907877 Report a problem
        12/9/2015Sold$380,000+105.4%$106/sqft
        Source: Public Record Report a problem
        7/16/2013Sold$185,000$52/sqft
        Source: Public Record Report a problem
        4/19/2012Sold$185,000-7.5%$52/sqft
        Source: Public Record Report a problem
        7/29/2011Price change$199,900-4.8%$56/sqft
        Source: RE/MAX Elite Lexington #1113657 Report a problem
        7/16/2011Listed for sale$210,000$59/sqft
        Source: RE/MAX Elite Lexington #1113657 Report a problem

        Public tax history

        YearProperty taxesTax assessment
        2025$6,554 $530,000
        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

        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.
        See how much you could borrow to make a competitive offer.
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        Climate risks

        Neighborhood: Duncan Park

        Getting around

        85 / 100
        Very Walkable
        87 / 100
        Very Bikeable

        Nearby schools

        GreatSchools rating
        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.

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