509 W 3rd Street,Lexington, KY 40508
Lexington, KY 40508
Description
Turn-key four-plex income property in one of downtown Lexington's most sought-after locationsthe 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 2021offering 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.
Details
| MLS # | 26007853 |
|---|---|
| Listing Type | For Sale |
| Style | Fourplex |
| Sub-Type | Resale |
| Status | Active |
| Year | 1920 |
| Days On Site | 135 |
| Listing Provided By | Bluegrass Sotheby's International Realty | Susan Kennedy |
Features
| Bed(s) | 5 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 3,585 |
| Units | 1 |
| Building(s) | 1 |
| Acreage | 0.18 |
Interior
| Cooling | Electric |
|---|---|
| Heating | Electric, Natural Gas |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
Exterior
| Roof | Composition, Flat |
|---|
Parking
| Attached Garage Yes / No | No |
|---|---|
| Parking Features | Covered |
Utilities
| Utilities | Electricity Connected, Natural Gas Connected, Water Connected |
|---|
Area Information
| State | KY |
|---|---|
| County | Fayette |
| City | Lexington |
| Zip Code | 40508 |
| Area | 001 Fayette County NW |
| Subarea | Fayette County NW |
| Community Name | Downtown |
| School District | Fayette County |
| Elementary School | Harrison |
| High School | Lafayette |
| Listing VS Median (in Downtown) | |
Price: $625,000 low | high Med: $225,000 sqft: 3,585 low | high Med: 13,600 $ / sqft: $174 low | high Med: $17 On site: 135 low | high Med: 48 | |
Market Activity 40508
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Learn More About This Property
| State | KY |
|---|---|
| County | Fayette |
| City | Lexington |
| Zip Code | 40508 |
| Area | 001 Fayette County NW |
| Subarea | Fayette County NW |
| Community Name | Downtown |
| School District | Fayette County |
| Elementary School | Harrison |
| High School | Lafayette |
| Listing VS Median (in Downtown) | |
Price: $625,000 low | high Med: $225,000 sqft: 3,585 low | high Med: 13,600 $ / sqft: $174 low | high Med: $17 On site: 135 low | high Med: 48 | |
