Review of Dorsey Station Condominiums Louisville, KY

 

Small stone house in Ambleside, UK

Dorsey Station Condominiums: This complex is located off of Shelbyville Road just east of Dorsey Lane.

 

General Description: According to the Master Deed, this development was built in the early 1980’s and consists of 65 units in 9 brick and wood buildings. The units were configured as either ranch style or townhouse homes with two bedrooms and two baths; although some have a single half bath too. The town house homes are spread over two floors, while the ranch style homes are either on the first or second floors. The square footage of these units ranges from 1150 to 1450 sq ft. The Master Deed also stipulates that 2 parking spaces will be assigned to each unit, although some of the units also include a detached garage. There are quite a few detached garages. This is a pet friendly community, which has a weight limit of 35 pounds on dogs. Owners may have no more than one dog and two cats, provided they are not kept or maintained for commercial purposes or for breeding. Owners may lease their units for a minimum of one year, only after having used the unit as their primary residence for 18 months.  Any owner intending to lease their unit must first submit to the Council of Co-Owners a completed rental information form, as approved by the association’s Board of Directors.  

 

Common Area Features: Dorsey Station offers an in ground pool, pool house and a tennis court. The grounds are landscaped and include many mature trees and shrubs.

 

Condominium Unit Features: The floor plan for a typical unit consists of a living room with a fireplace, an eat-in kitchen, a dining area, two bedrooms, a hall bath, a master bath and a laundry room. Each ranch style unit has either a patio or a deck. It appears that all of the second floor units’ decks and many of the first floor units’ patios have been fully screened-in. Each of the townhouse (2-story) units has a private patio and 2.5 baths..

 

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. There is a large YMCA nearby as well. Many more upscale condominium complexes and single family home subdivisions can be found along Dorsey Lane.

 

Recent Sales (Updated Info): During 2012 five units were sold at prices ranging from $99,900 to $123,000, excluding two distressed sales at $69,500 and $72,000. During 2013, one townhouse and two ranch style units were sold, each of which had a 1-car detached garage. The ranches sold for $109.5k ($80/sf) and $132.5k ($97/sf,) while the townhouse brought $106k or $81/sf. During 2014, two townhouses, with 1-car garages, were sold for $116,750 ($88/sf) and $126k or $108/sf. During 2015, eight units were sold. Six ranch style units were sold with three being on the second floor and three first floor units. The 2nd floor units ranged in price from $110k ($94/sf) to $130.5k ($96/sf), while the first floor units brought $133.5k ($114/sf) and two at $139k ($102/sf and $109/sf.) The two townhouse style units sold for $102k ($77/sf) and $128k or $97/sf.) Each had a 1-car garage, excepting the townhouse that sold for $102k. During the first 7 months of 2016, three units were sold, excluding one foreclosure. These units included one townhouse at $136.5k ($104/sf), one first floor ranch at $155k ($114/sf) and one second story ranch at $164.9k or $121/sf. Each had a 1-car detached garage.

The monthly maintenance fees range from about $260 to $350. Not FHA approved, as of 8-16-2016.

Management Company: Mulloy Properties. Here’s a link to their website and Dorsey Station’s master deed.  http://bit.ly/Ty6Rez

Suitability for Downsizers (New Info): 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’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 15+ years of experience as a realtor and 20+ years as an owner and periodic board member at Hurstbourne Ridge Condominiums.

The immediate area is also relatively safe. 

Photo courtesy of Flickr.com and AndyRoberts Photos

 

A typical building in the complex.

 

 

%d bloggers like this: