Downsizing Options- Condo Review of Hurstbourne Springs Condominiums Louisville, KY


Small & skinny home in Amsterdam, NL

Hurstbourne Springs Condominiums: Located just north of Six Mile Lane off of South Hurstbourne Parkway. The community is accessed from Raintree Dr, which intersects South Hurstbourne Parkway.

General Description: Construction spanned a period from approximately 1997-2002.   According to the Master Deed, the complex consists of 160 brick units. The units are either 1 or 1.5 story dwellings with square footage ranging from 1500 to more than 3600. The smaller units have two bedrooms and two full baths, while the larger ones have three of each. About one-half of the units are fully stand alone patio homes with no common walls. The remaining units are attached to a second dwelling with the common wall being the attached 2-car garage. Every unit has a 2-car garage and many have full basements, some of which walk-out to the patio. Owners must occupy their units, although one year leases are allowed under certain circumstances, as detailed in the by-laws (i.e., death, job relocation, etc.). The By-Laws allow pets (i.e., dogs and cats) and there are currently no weight or quantity limits. The rules regarding leases and pets and all other community regulations are found here.

Dwelling Features: Most, if not all, of the units include gas fireplaces, vaulted ceilings and recessed lighting. Open floor plans predominate.

Common Area Features: The complex includes a beautiful, old brick clubhouse that appears to have been a former farmhouse. The clubhouse has a kitchen, a party/meeting room and a fitness room. There is also a smallish in ground pool. The grounds are fully landscaped, irrigated and very well maintained.

Neighborhood Features: Very convenient location. There are a wide assortment of grocery and other shopping, all within a mile or so of the development (e.g., Meijer, Home Depot, Kroger (3), Wal-Mart, etc.). The expressways are also nearby. Twenty minutes to most anywhere in Louisville.

Recent Sales: During 2012, one 1.5 story unit was sold. It did not have a basement and sold for $185,000. The maintenance fees vary considerably, given the wide range in square footages. The smaller units are about $140/month, while the larger units are approximately $290/month. During 2013 seven units were sold. Three were 1.5 story units that ranged in price from $175k ($112/sf) to $285k ($132/sf.) The four 1 story units sold for prices ranging from $180k ($123/sf) to $225k ($149/sf.) During 2014, eleven units were sold. Seven were 1 story units which ranged in price from $141k ($124/sf) to $271k ($142/sf.) The four 1.5 story units sold for prices ranging from $215k ($126/sf) to $330k ($150/sf.) During 2015, eight units were sold. The three 1 story units sold within a range of $225k ($104/sf) to $257.5k ($143/sf.)  The five 1.3 story homes sold for prices ranging from $168k ($99/sf) to $255k ($125/sf.) During 2016, seven units were sold. Three were 1 story homes with finished walkout basements. They sold for $267k ($143/sf), $258k ($150/sf) and $269k or $165/sq ft.  The four 1.5 story homes sold within a range of $195k ($103/sf) and $218k ($109/sf.) During 2017, eight units were sold: three ranches without basements and five 1.5 story homes. The ranches  sold within a range of $195k ($108/sf) to $218k ($147/sf), while the others sold within a range of $184k ($119/sf) to $255k or $133/sf. The 1.5 story that sold for $255k had a partially finished basement, while the others were on cement slabs. During 2018, six ranches and one 1.5 story were sold: one 1-bedroom, one 2-bedroom and five 3-bedroom units. The 1-bedroom with 1.5 baths and a finished walkout basement sold for $255k ($193/sf.) The basement had a 2nd bedroom and a second full bath. The 2-bedroom/2 bath unit sold for $194.5k ($122/sf.) It also had no basement. One 3-bedroom, 1.5 story had a third bath, but no basement, and brought $270k ($133/sf.) Another 3-bedroom, 2-bath unit without a basement sold for $245k or $142/sf. The other three, 3-bedroom, 2-bath units were all ranches with finished walkout basements. Each had a 4th bedroom and a 3rd full bath in their basements. They sold for contract prices of $286.5k )$153/sf). $280k ($155/sf) and $291k or 168/sf.

The 2019 monthly maintenance fees range from $163 to $462.

Suitability for Downsizers: This patio home complex is suitable for persons in the process of downsizing, due to its very convenient location and the general safety of the neighborhood. 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. This is a safe area, based upon my experience as someone who has lived nearly next door to Hurstbourne Springs for the last 22 years. For more information about this complex, visit the following link to the property manager.

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!

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 & Cha Gia Jose



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