We analyze 3.5 resolution, high sensitivity radio continuum images of the nearby spiral galaxy NGC 4258 at 6 and 20 cm derived from multiple observations used to monitor the radio supernova SN 1981K (Van Dyk et al. 1992, [ApJ, 396, 1995]). Seven bright H II region and five supernova remnant candidates are identified. Extinctions to the H II regions are estimated for the first time from a comparison of radio flux densities to new optical fluxes derived from H-alpha observations by Dutil & Roy (1999, [ApJ, 516, 62]). The bright end of the H II region luminosity function is established at each wavelength. The luminosity functions are best fit by power laws consistent with the shape of previously published radio and optical luminosity functions for a number of galaxies. The supernova remnants are all about 2--3 times the radio luminosity of Cas A. In addition, the galaxys nucleus is shown to have been variable over the SN 1981K monitoring period. The spectral index (alpha) distribution of the anomalous radio arms is investigated and found to be relatively uniform at alpha = -0.65 +/- 0.10.