Downsizing Options: Condo Review – Harrods Landing Condominium Association, Prospect, KY

 

Small House in Vano, Sweden.

Harrods Landing Condo Association: This complex is located off Route 42 and is about 1/2 mile north of the intersection with the Gene Snyder Expressway. Harrods Landing is located in the City of Prospect, Kentucky, which is within Oldham County.

General Description: This complex was developed in the late 1980’s and consists of 46 units housedin 9separate, wood frame buildings. Seven of the nine buildings are in the 100 year floodplain, but your monthly maintenance fee remains at $325 includes flood insurance. The units are all townhouse style dwellings with two or three bedrooms and two and one-half baths. According to the master deed, the above grade square footage ranges from 2100 to 2500. Some of the units have walkout basements and others have no basement. This is a pet friendly community that allows household pets, including dogs up to 100 pounds. There’s no limit on the number of pets, but obviously no breeding for commercial purposes is allowed.Leases are also allowed. Harrods Landing is situated on a tributary of the Ohio River. There is a marina extremely close by. The boat slips are part of a separate condominium association that is completely separate from Harrods Landing Condo Association. (The 3 boat slips that were for sale for $6500 each have been sold for $5300 per slip.)

Common Area Features: The association features an  in ground pool. There is no clubhouse. The grounds are very well maintained.

Condominium Unit Features: Each unit consists of a kitchen, living room, dining area, two bedrooms, a laundry room and two and one-half bathrooms. There is a balcony adjacent to the master bedroom and a deck or patio on the rear of the home that is accessed from the living room. Each unit also has a gas fireplace and an attached 1-car garage. Some units also have car ports.

Neighborhood Characteristics: Very convenient to a huge variety of shops and restaurants on Route 42. Downtown Louisville is about a 25-30 minute drive. Prospect, Kentucky is an upscale community east of Louisville. Oldham County is well known for its excellent public school system and its numerous golf courses.

Recent Sales & Maintenance Fee (Updated): One unit was sold, during the 12 month period ended 7/26/14. The contract prices were $200,000 ($114/sf). This unit had 1750 sf of space above ground (per MLS) and 750 sf of finished space in its walkout basement. It also had a third full bath. The 2014 monthly maintenance fee remains at $325. This complex is not currently FHA approved.

Management Company: Mulloy Properties, Inc. Visit their website to review the Harrods landing Master Deed, Bylaws, Rules & Regs, etc. Here’s the link. Just scroll down to Harrods.

http://www.mulloyproperties.com/condo-management/community-file-downloads/

Suitability for Downsizers (New Info): Given its close proximity to the shops, restaurants and other destinations along US 42, this complex should be considered for anyone thinking of downsizing. It also is in a relatively safe area. Here is a link to a prior post that discusses some issues you should consider before writing an offer on any condo or patio home. It is based upon my 11+ years of experience as a Realtor and 16+ years as a homeowner and periodic board member at Hurstbourne Ridge Condominiums. Here is a link to a crime map for this area, which is relatively safe. http://bit.ly/VFPwAs

Photo courtesy of flickr.com & Jani Halinen

@homeslouky

 

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