Downsizing Options: Condo Review – Pinehurst Green Louisville, KY

 

Typical view within complex

Location: Pinehurst Green is located in eastern Jefferson County off of Hurstbourne Parkway between Dorsey Lane and Route 146 (La Grange Rd). Follow Hurstbourne Parkway north to a right turn on Morat Ave, which is just .2 miles beyond the intersection of Hurstbourne and Dorsey Lane.

 

General Description:  This patio home complex, which was built in the mid-1990’s, consists of 15 brick, 1-story buildings housing 60 individual units on slab foundations. According to the master deed, there are 18 units with 2 bedrooms and 2 baths and 42 units with 3 bedrooms and 2 baths. The smaller units have between 1540 and 2061 square feet, while the larger units have about 2360 square feet. The smaller units have both family and living rooms, which affords the owner the opportunity to convert the family room into a third bedroom. On September 15, 2010, a prior amendment regarding leases was deleted and replaced by a new amendment (the Fourth), which prohibits leases, except in certain specific circumstances. This is a pet friendly community, but restricts owners to one dog weighing no more than 50 pounds, one cat, caged birds or fish. Not FHA approved, as of 11/30/17.

 

Common Area Features: Pinehurst Green features a spacious clubhouse with a small kitchen, a meeting room and a fitness room. There is also an in ground pool.

 

Condominium Features: Open floor plan design, with the eat-in kitchen open to the great room and formal dining area. The great rooms offer gas fireplaces, vaulted ceilings and crown moldings. The kitchens have ceramic floors and two pantries. The bedrooms are located on opposite sides of the home to afford maximum privacy. The master bedroom suites offer trey ceilings, walk-in closets, etc. Every unit has an attached 2-car garage, a Florida room and a covered porch and a patio.

 

Neighborhood Characteristics: Super convenient location with a plethora of shops, restaurants, and four shopping malls are within a three mile radius. The amenities of E.P. “Tom” Sawyer Park are only ½ mile away. This park offers 3 lighted softball fields, an Olympic size pool, hiking trails, 14 soccer fields, BMX, pickelball, a large radio controlled airfield, badminton, archery, nature trails, etc. Here’s the link. http://1.usa.gov/Yu0Xla  There are also a few public golf courses in the area. Downtown Louisville is a 20 minute drive.

 

Recent Sales & Maintenance Fees: During 2014, four units were sold. Three were the larger units with 2363 sq. ft. and 3 bedrooms. The fourth sale was a 2 bedroom unit with about 2060 sq ft. The contract prices of the three larger units ranged from $232,450 to $256,000. The smaller unit sold for $224,000. During 2015, six units were sold. Three were 3 bedroom units which ranged in price from $246k ($104/sf) to $285k or $121/sf. The three smaller units sold for $218k or $142/sf, $220k ($107/sf) and $230k or $112/sf. During 2016, four units were sold. The three larger units sold within a range of $260k ($110/sf) to $281k ($119/sf.) The smaller unit brought $218k or $126/sf. From January 1 through November 28, 2017, three of the larger units were sold for between $265k ($112/sf) and $280k or $118/sf.

The 2017 monthly maintenance fees range from approximately $250 to $300 and include water, sewer, grounds maintenance, master insurance on the buildings, pool and clubhouse maintenance, trash collection, snow plowing, etc.

 

Management Company: Mulloy Properties, Inc. Here is a link to the Pinehurst Master Deed, as found on the Mulloy Properties website. http://bit.ly/T6G0eM. Here is a link to the association’s Rules & Regulations. http://bit.ly/R9hA2k

 

Suitability for Downsizers: Due to its convenience to everything and safety of the immediate area, it should be on your list. Here is a link to a prior post that discusses issues that should be considered before making an offer on a condominium. It is based upon my 16+ years of experience as a Realtor and 21+ years as an owner and occasional board member at Hurstbourne Ridge Condominiums.

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