$589,000
3 bd · 2 ba · 1,715 sqft
814 Melrose Avenue, Lexington, KY 40502
Courtesy of Team Pannell Real Estate
Listing data updated August 7, 2026
About the Neighborhood
Living in Hollywood
Hollywood sits in the 40502 zip code between Chevy Chase and the University of Kentucky, which is close to the best address arithmetic in Lexington — walk to one, short drive to the other, and downtown just past that. Tree-lined streets, classic architecture, and houses that are bigger than the neighborhood's low profile suggests.
Part of the neighborhood falls within the Hollywood Terrace Historic District, recorded among the historic residential suburbs that developed between 1900 and 1974, with Bungalow, Craftsman and Colonial Revival among the noted styles.
It is a neighborhood that gets overlooked in favor of its more famous neighbor, which is usually good news for a buyer. You are paying for a 40502 address without paying the Chevy Chase name premium.
It is a neighborhood that gets overlooked in favor of its more famous neighbor, which is usually good news for a buyer. You are paying for a 40502 address without paying the Chevy Chase name premium.
On the market now
Homes for Sale in Hollywood
Neighborhood guide
Inside Hollywood
- Hollywood is positioned between Chevy Chase and the University of Kentucky, inside the 40502 zip code — one of Lexington's most consistently desirable.
In practice that means the Chevy Chase restaurants and shops are close enough to walk for much of the neighborhood, the university and its medical complex are minutes away, and downtown is a short drive past that. For anyone whose life runs through the east side of Lexington, it is hard to be better placed. - Homes: roughly 580.
Era: a range rather than a single date — a substantial share of the housing predates 1940, with a further wave built between 1940 and 1969. The prior neighborhood-guide extraction placed the bulk in the mid-1940s. Treat it as late-1930s-through-1940s and confirm the specific house.
Average single-family home: around 3,600 square feet — sizable for the era and for the neighborhood's quiet profile.
Median lot: roughly a quarter-acre.
Typical range on market: two to five bedrooms, roughly 1,500 to 4,500-plus square feet.
Neighborhood-level figures above are as-published by homes.com's Lexington local guide (extracted 2026-06-01, re-verified 2026-08-01) and describe the housing stock, not current asking prices. What is actually for sale today, and what it costs, is the live count and median at the top of this page. - Part of the area is recorded as the Hollywood Terrace Historic District, documented among historic residential suburbs developed between 1900 and 1974. Bungalow, Craftsman and Colonial Revival are among the architectural styles noted in that record.
As always with historic designation, the practical question is which specific parcels fall inside the boundary and what local overlay applies to them. That is an address-level question, not a neighborhood-level one — ask me to pull it before you plan exterior work. - An average around 3,600 square feet is substantial, and it surprises people who know Hollywood only from driving through.
The streetscape reads modest — mature trees, deep setbacks, houses that do not announce themselves. The square footage is often behind the front elevation rather than in front of it. This is a neighborhood where you should not judge a house from the curb. - Hollywood's proximity to Chevy Chase is its greatest asset and the reason it is worth shopping deliberately.
You get much of the same location benefit — the same walk to the same restaurants, the same access to the university and downtown — in a neighborhood that does not carry the same name recognition. For buyers who care about where they actually are rather than what the neighborhood is called, that gap is the opportunity. - The housing spans a meaningful range, and the two ends behave differently.
Pre-1940 houses bring the detail people want — real millwork, plaster, hardwood — along with the systems questions that come with age. The 1940s-and-later wave is generally simpler in finish and closer to modern layout. Neither is better; they are different purchases, and the neighborhood contains both. - The tree-lined streets are a defining feature and a real part of the value.
As with any established canopy, take a look at what is overhanging the house you are considering. Mature trees close to a structure are worth budgeting for — assessment, pruning, occasional removal — and that cost is easy to overlook when you are falling in love with the shade. - Given the age spread, tailor the inspection to the specific house rather than the neighborhood.
On the older end: knob-and-tube remnants, galvanized supply plumbing, foundation and basement moisture, and the condition of original windows. On the post-war end: electrical capacity, cast-iron drain lines, HVAC age, and insulation. On any house of this size, roof area is significant — get a real number on remaining roof life, because replacing 3,600 square feet of roof is not a small line item. - Roughly 580 homes in a location this good means listings move.
Hollywood does not sit. If you are shopping here, be pre-approved, be able to see a house the day it lists, and know in advance what you will do about inspection and timing. Buyers who need a week to think generally do not get these houses. - Hollywood fits buyers who want a 40502 address, an older house with character, and a genuinely central east-side location — and who are willing to look past a name that carries less cachet than the neighborhood next door.
University and medical staff, downtown professionals, and anyone who wants to walk to Chevy Chase without buying in Chevy Chase. It suits new-construction buyers and large-lot buyers less well.
Questions About Hollywood?
I'd rather answer the specific question than have you guess from a page. Schools for one address, which streets stay quiet, what a place is really worth — ask me and I'll tell you straight, whether or not it helps me.
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Schools in Hollywood
Hollywood is served by Fayette County Public Schools, with assignments made by address. Before committing to a specific home, let's confirm its exact elementary, middle, and high school assignment together using the FCPS SchoolSite Locator.
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Questions
Hollywood Home-Buying FAQ
In the 40502 zip code, between the Chevy Chase neighborhood and the University of Kentucky — one of the most central east-side locations in the city.
Across a range rather than one period. A substantial share of the housing predates 1940, with a further wave built between 1940 and 1969; the neighborhood-guide extraction placed the bulk in the mid-1940s. Treat it as late-1930s through the 1940s and confirm the specific house.
A recorded historic district covering part of the area, documented among historic residential suburbs developed between 1900 and 1974, with Bungalow, Craftsman and Colonial Revival among the noted styles. Which specific parcels fall inside the boundary is an address-level question worth confirming before planning exterior work.
Larger than the quiet streetscape suggests — single-family homes average around 3,600 square feet on roughly quarter-acre lots. What is typically on the market runs two to five bedrooms and roughly 1,500 to 4,500-plus square feet.
Mostly in name recognition rather than location. Hollywood sits right beside Chevy Chase with much of the same access — the same walk to the same restaurants, the same proximity to the university and downtown — without carrying the same name premium. For buyers who care where they actually are, that gap is the opportunity.
Hollywood is in the Fayette County Public Schools district. Lexington school zones do not follow neighborhood boundaries and they get redrawn, so I verify the assignment for the specific address through the FCPS SchoolSite Locator rather than quoting a neighborhood-level answer. Send me the address you're considering and I'll pull the current zone.
Quickly. Roughly 580 homes in a location this central means well-priced listings do not sit. Be pre-approved and able to view the day a house lists — buyers who need a week to decide generally miss here.
Tailor it to the house's age. Older end: knob-and-tube remnants, galvanized supply plumbing, foundation moisture, original window condition. Post-war end: electrical capacity, cast-iron drain lines, HVAC age, insulation. On any house this size, get a real number on remaining roof life.
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