Review of Dorsey Hills Condominiums Louisville, KY

 

Small house in Tallinn, Estonia.

Dorsey Hills: This complex is located off Dorsey Lane and is about 1/2 mile from Shelbyville Road. The entrance is on the right and is across from the new patio home complex called Villas at Dorsey.

General Description: This complex was developed in the early 1990s and consists of 184 units housed in about 12 separate, brick buildings. The units are all ranch style dwellings with two or three bedrooms and two full baths. The units range in size from 1075 to 1385 square feet. The buildings are all secured and you enter through a single shared entrance. The units are on either on the first or second floor and there is no elevator. Each unit includes one reserved, uncovered parking space. Some of the units have detached single car garages. Owners may lease their units, based upon very detailed requirements found in the Rules & Regulations (Article 5) found here. http://bit.ly/2jurcGO   This is a pet friendly community that allows one dog weighing 30 pounds or less or two cats (See Article 6 of the Rules & Regs.).

 Common Area Features: Dorsey Hills has a pool, tennis court and clubhouse. The clubhouse features a great room, kitchenette and an exercise room. The great room is very appealing and includes a vaulted ceiling and fireplace. The great room and kitchenette may be rented by unit owners or lessees for a modest fee.  The grounds are very well maintained.

Condominium Unit Features: Each unit consists of a kitchen, living room, dining area, two or three bedrooms, a laundry room and two full bathrooms. There is a patio or deck accessed from the living room. The second floor units have vaulted ceilings. The kitchens have a galley style design and are partially open to the living room and dining area. The larger units have a bonus room, which in some instances have been converted into a third bedroom. Some of the units have gas fireplaces.

Neighborhood Characteristics: Very convenient to a huge variety of shops and restaurants on Shelbyville Road and Hurstbourne Parkway. Two shopping malls and two expressways are only a ten minute drive.

Recent Sales: During 2014, seven of the larger units, with 2-3 bedrooms and about 1385 sq ft, were sold. The contract prices on these units ranged from $119,000 ($86/sf) to $148,000 or $107/sq ft. Two had 1-car detached garages.  Twelve of the smaller 2 bedroom units, with about 1075 sq ft,  were sold for prices that ranged from $102,000 ($95/sf) to $125,000 or $116/sf. During 2015, excluding two foreclosures, seventeen units were sold. The four larger units ranged in price from $114k ($82/sf) to $149k or $108/sf. Thirteen smaller units sold within a range of $105k ($98/sf) to $131k or $116/sf. During 2016, thirteen units were sold. The five larger units brought between $124k ($90/sf) and $150.5k ($108/sf.) The eight smaller units, with about 1075 sq ft, brought between $108k ($101/sf) and $130k or $101/sf. Through November 28, 2017, eleven units were sold. The seven smaller units sold for between $120k ($112/sf) and $137k or $128/sf. The contract prices on the four larger units were within a range of $157.5k ($114/sf) and $160.5k or $115/sf.)

The 2017 monthly maintenance fees range from approximately $210 to $280. These fees cover the standard expenses associated with condo communities (i.e., building and grounds maintenance, water, sewer, master insurance on the buildings, trash collection, snow plowing and maintenance of the clubhouse, pool and tennis court.) This complex is FHA approved through May 2019.

Suitability for Downsizers (New info): This property should be considered by anyone seeking to downsize to a smaller home, due to its very convenient location. Here’s a link to a prior post that discusses issues needing consideration before an offer is made on a 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.

Management Company: The management company is Mulloy Properties, Inc. The following link takes you to their website and the Dorsey Hills Condominiums Master Deed. http://bit.ly/WpzNGw

Photo courtesy of Flickr.com

Dorsey Hills: a typical view.

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