Condo Review – The Commons of Westport Gardens Condos Louisville, KY

 

Small House in Calgary, Alberta

The Commons of Westport Gardens: This complex is located on the corner of Westport Road and Herr Lane. It is about ½ mile east of the new Watterson Expressway Westport Rd exit. 

 

General Description: This brick, condominium development, which was originally an apartment complex, was legally converted into condominiums in 2007. The structures are approximately 42 years old. In 2007, the complex was extensively remodeled, which included the installation of all new windows, water heaters, and heating and air conditioning systems in each of the eleven brick, two story buildings. Each of the 72 condo units received all new paint, carpeting, fixtures, appliances, counter tops, cabinets, sinks, doors, commodes and a full sized stackable washer and dryer. The very functional floor plans offer either 1, 2 or 3 bedrooms with 1.5, 2.0 or 2.5 baths. They range in size from 755 to 1250 square feet. The single and many of the two bedroom units are configured as ranch style, single floor homes on either the first or second floors. Some of the two bedroom and all of the 3 bedroom units are configured as townhouses. There are no basements, as the buildings rest on concrete slabs. Owners may lease their units, at the present time. There are a few units still being offered by the developer, who still manages the development. The owners will soon assume control of the development from the developer. This is a pet friendly community, provided the pet does not become a nuisance, which is clearly defined in the Association’s Rules & Regulations. Currently, there is no weight limit, but only one pet is allowed per unit.This complex is managed by Mulloy Properties, Inc. Here’s a link to their website. http://mulloyproperties.com/. Here’s a link to the Master Deed. http://client.sierrainteractivedev.com/UserFiles/166/file/CWG%20MASTER%20DEED.pdf.

Here’s a link to the Rules & Regulations. http://client.sierrainteractivedev.com/UserFiles/166/file/CWG%20RULES.pdf.

 

Common Area Features: The development offers a swimming pool and a clubhouse with an exercise room. The grounds are well kept and there is at least one large grassy area in the center of the complex.

 

Condominium Unit Features: In addition to the bedrooms and bathrooms noted above, each unit has a kitchen, dining area, a living room and a small laundry. All of the units have either a balcony or patio, which are fenced for privacy. Except for the townhouses, all of the units have a shared entrance. None of the condos feature fireplaces. Since this development was formerly an apartment complex and it fronts two busy streets, check to see if the soundproofing is adequate for your needs.  

 

Neighborhood Characteristics: The Commons of Westport Gardens is very conveniently located, as it is across the street from Westport Village, which opened in 2008. Westport Village offers 11 eateries, ranging from BoomBozz Pizzeria & Tap house, to upscale dining at Napa River Grill, and about 35 interesting boutiques, salons, jewelers, etc. Since a major interstate is less than a mile away, two shopping malls and a variety of other shops are just a 10 minute drive. The commute to downtown Louisville is about a 15-20 minute drive. This is a solid neighborhood that should be appealing to downsizers.

 

Recent Sales and Monthly Fees : During 2014, three 2-bedroom condos were sold. The two with 2 full baths had contract prices of $107k ($102/sf) and $117,900 or $114/sf. The other had 1.5 baths and it sold for $117k or $113/sf. During 2015, eight units were sold: two 1-bedrooms, three 2-bedrooms and three 3-bedrooms. The single bedroom units sold for $69k ($91/sf, sold as is) and $91k or $119/sf. The two 2-bedroom units with 2 full baths sold for $115k ($110/sf) and $119.5k ($114/sf), while the third had 1.5 baths and sold for $115k or $111/sf. The two 3-bedroom units with 2 full baths both brought $130k ($106/sf), while the third unit, which had a townhouse floor plan, with 2.5 baths sold for $133k or $108/sf. During 2016, two 2-bedroom units and one 3-bedroom unit were sold. The ranch style 2-bedroom unit sold for $107.5k ($103/sf) and the 2-bedroom townhouse brought $116.5k or $114/sf. The 3-bedroom unit sold for $127k or $103/sf. During 2017 (thru 12/15), four units were sold: one 1-bedroom, two 2-bedroom and one 3-bedroom. The one bedroom sold for $89.9k or $110/sf. The three bedroom brought $132.5k or $108/sf. The 2-bedroom, 2-bath ranch sold for $118k ($113/sf), while the 3-bedroom, 2.5 bath townhouse brought $145k or $117/sf.

The 2017 monthly maintenance fees range from about $140 to $200. Not FHA approved, as of 12/14/17.

Suitability for Downsizers: This condo 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 issues that should be considered before making an offer on a condominium or patio home. It is based upon my 16+ years of experience as a Realtor and my 21+ years an an owner and periodic board member at Hurstbourne Ridge Condominiums.

Photo courtesy of Flickr.com and Just a Prairie Boy’s photo stream.

 

Townhomes

Westport Village

 

 

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