Downsizing Options: Condo Review – Kenilworth Heights Louisville KY

 

View from street.

Location: Kenilworth Heights Lofts & Townhomes is a small stand alone condo complex is located on Kenilworth Road, which intersects with Brownsboro Road near Bingham Memorial Park. Take I-64 westbound and exit at Mellwood Avenue. Follow Mellwood Ave about ½ mile and turn right on Brownsboro Rd. Follow Brownsboro another ½ mile to Kenilworth on the left.

 

General Description: Based upon a review of the master deed and bylaws, this stand alone condo development, which was constructed around 2005, consists of twelve vinyl units. Ten of the units are configured as 2/3 story townhouses, offering above ground living space ranging from 916 to 1,419 sq ft. The other two units are ranch style condos with 1,112 sq ft. The larger units offer 2 bedrooms and either 2 or 2.5 baths, while the 1 bedroom units have 1.5 baths. Every unit has at least one car port and some have 2 car ports or an attached garage. Per the Association’s By-Laws, owners are limited to one dog or cat and no other kinds of pets. Here’s a link to the By-Laws. http://bit.ly/2BI2le0. Leases are allowed, but they must be in writing and are subject to the Association’s Rules & Regulations, Bylaws and Master Deed. Here’s a link to the Kenilworth Master Deed. http://bit.ly/2j9zrbw . Page seven discusses leases. This complex is managed by Cornerstone Property Management. Not FHA approved, as of 12/18/2017.

 

Common Area Features: None, given the small size of this development.

 

Condominium Unit Features: Each unit has an open floor plan where the kitchen is wide open to the dining area and living room. Many of the kitchens have pretty maple cabinetry. The master bedroom suite and a laundry closet are located on the top floor of the two and three story units. The master bathroom has a garden tub and separate shower. Most of the units offer vaulted ceilings and durable laminate flooring. Given their modest size, the floor plan design is quite efficient. Every unit has a patio or deck. There is also a strip of green space, running between the buildings. Note: Some, if not all, of the units have first floors built into a hill, which makes this space countable as only basement square footage. Please be sure to recheck the accuracy of the stated above grade square footage!

 

Neighborhood Characteristics: This complex is very close to a variety of shops, including a Kroger that is just down the street. A plethora of restaurants and night spots are found along Frankfort Avenue, which is within 5-10 minutes. It’s also close to multiple expressways running in every direction. Downtown Louisville is a 5-10 minute drive. The immediate neighborhood looks a bit tired, as many of the buildings are older rental properties or smaller single family homes. 

 

Recent Sales and Monthly Fees: During 2013, no units were sold. During 2014, two units were sold. A 1 bedroom, 1 bath unit sold for $127.8k or $123/sf, while a 2 bedroom 2.5 bath unit brought $171/sf. The monthly maintenance fees are in the approximate range of $120 to $160. During 2015, two units were sold. A 1 bedroom, 1 bath unit brought $120k or $101/sf and a 2 bedroom, 2 bath unit sold for $114k or $243/sf. (The higher cost per sq ft reflects the first level being treated as basement space.) During 2016, a 2 bedroom with 1.5 baths sold for $131k or $120/sf. During 2017, no units were sold. I’m unsure of the current (2016) monthly maintenance fees, but the unit sold in 2016 had a fee of $182/mo.

 

Suitability for Downsizers: Given that nearly all of these units are townhomes with second floor master bedroom suites, you will need to consider whether the steps are consonant with your present and future physical abilities. Kenilworth is conveniently located, so if you need to be in this area, give it a chance. Here is a link to a prior post that addresses the primary issues you should consider before making an offer on any condominium. It is based upon my 16+ years of experience as a Realtor and my 21+ years as an owner and periodic board member at Hurstbourne Ridge Condominiums.

Call, text or email me with any questions, or if you need a Realtor to sell your home and/or find your next one! 502.807.4999

 

Typical unit.

 

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