Downsizing Options: Condo Review – Gardens at Dorsey Patio Homes Louisville, KY

 

Small Home in Mekong Delta, Vietnam

The Gardens at Dorsey: This patio home development is located off Shelbyville Road and is about one half mile from the intersection of Dorsey Lane and Shelbyville Road. The complex is on the right, just before you reach Ward Avenue.

 

General Description:  This upscale patio home complex was developed in the early 2000’s and consists of 23 brick buildings holding 81 individual units with either 2 or 4 units per building. The units range in size from about 2000 to 2500 square feet and are attached at the garages to maximize privacy. Each patio home is a ranch style layout with either 2 or 3 bedrooms and 2 or 3 full baths.  Many of the units have full basements, but only a few of the basements are walkouts. The above and below grade ceiling heights are all nine feet and the living rooms have vaulted ceilings. The two car attached garages are over sized and above each garage is additional storage space.  Residents in 2012 were able to maintain one cat, dog or caged bird, with a weight limit of 45 pounds, but this rule may have changed since then. The association is currently self managed.

Common Area Features: None.

Patio Home Features: Each unit consists of 2 or 3 bedrooms, an eat-in kitchen, dining area, great room, living/Florida room, a laundry room and two or 3 full baths. The master bedroom suite includes a master bath and a large walk-in closet. The master bath has a large walk-in shower and a whirlpool tub. The second and possible third bedrooms are located on the opposite side of the living space along with the second full bath. The eat-in kitchen typically has ample room for a table and may also have a breakfast bar. Many of the units have beautiful hardwood floors and all have large patios. The great room and living/Florida rooms are separated by a see through fireplace, which is flanked by an arched entry. Wood moldings, fluted door jams, elegant arches and leaded glass front doors are all part of each patio home.

Recent Sales: During 2013, five units were sold for prices ranging from $237,000 to $379,500. Two of the units had 3 bedrooms and finished full basements and sold for $345k ($165/sf) and $350k ($175/sf.) Two others had 3 bedrooms with one having no basement ($245k or $103/sf) and the other an unfinished basement ($237k or $113/sf.) The single 2 bedroom unit had no basement and sold for $279.5K or $140/sf. During 2014, three 3-bedroom units were sold. Two had 2 baths and no basements and sold for $300k ($131/sf) and $279k ($117/sf). The third had 3 baths and a finished basement and sold for $342k ($161/sf.) During 2015, 4 units were sold, three of which had 3 bedrooms, 2 baths and unfinished basements. They sold within a range of $265k ($135/sf) to $290k ($141/sf.) The single 2 bedroom, 2 bath unit (no basement) sold for $295k ($133/sf). During 2016, 9 units were sold: five 3-bedroom and four 2-bedroom units. Three of the 3-bedroom units had no basement and sold within a range of $320k ($143/sf) to $290k or $122/sf. The two 3-bedroom units with basements brought $351.3k ($165/sf; finished) and $305k ($156/sf; unfinished.) The one 2-bedroom unit with a finished basement sold for $340k ($159/sf.) The other three had no basement and sold within a range of $280k ($115/sf) to $320k or $135/sf. During 2017, two units were sold: one 2-bedroom and one 3-bedroom. The 2-bedroom brought $330k ($136/sf) and the 3-bedroom sold for $340k or $129/sf. Through March 28, 2018, one 3-bedroom with a finished walkout basement was sold for $336k or $160/sq ft.

 The current monthly maintenance fees range from about $230 to $370. The fee is based upon each unit’s total square footage, both above and below grade.

Suitability for Downsizers: This condo complex should be considered by anyone thinking of downsizing,  due to its great location and close proximity to a great variety of shops, restaurants, two shopping malls, highways and other amenities.  Here is a link to a prior post that discusses important issues that should be considered before making an offer on any condominium. It is based upon my 17+ years of experience as a Realtor and my 22+ years as an owner and periodic board member at Hurstbourne Ridge Condominiums. The immediate area is also relatively safe.

Unsure about the type of smaller home to buy? Here’s a link to an article that discusses the pros and cons of condos, patio homes and single family homes. Food for thought! http://bit.ly/2J1fKC5

 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

Photo courtesy of Flickr.com

Typical view: Gardens at Dorsey

 

 

 

 

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