Downsizing Options: Condo Review – Village of Beckley Woods Louisville, KY

Small farm house Languedoc-Roussillon, France

Village of Beckley Woods:This patio home, condominium complex is located off of Shelbyville Road just east of the Gene Snyder Expressway. (Shelbyville Rd to left on Beckley Woods Dr to left on Old Station Road.)

General Description: According to the Master Deed, this complex was built in the late 1990s and consists of 34, one story, stucco buildings holding 68 individual units. Each unit, excluding any finished basement space, is a 2 bedroom, 2 bath ranch style patio home with an attached 2-car garage. The above grade sizes of these units ranges from 1600 to 2200 square feet, with 1800 sq ft being the most typical size. The vast majority of the units are on slab foundations with no basement. Owners may no longer lease their units, unless it was one of those that received “grandfather” status back in 2004. Common household pets are allowed and the by-laws and rules and regulations don’t set a quantity limit. The landscaping and the buildings themselves are very well maintained.

Common Area Features: None.

Condominium Unit Features: The above grade configuration of the typical unit includes an eat-in kitchen, a living room, family room, office, dining area, two bedrooms, a laundry room and two full bathrooms. One of the bathrooms is part of the master bedroom suite and features a jetted tub, separate shower, dual vanities, etc. The units also feature vaulted ceilings and a fireplace. The typical floor plan is characterized by openness and the bedrooms are on opposite sides of the home.

Neighborhood Features: Very convenient to the grocery and other types of shops and restaurants on Shelbyville Road. Downtown Louisville is about a 20 minute drive. Interstate 265 is two minutes away, which connects to other expressways running in every direction. There are four shopping malls all within 15 minutes. There are also a number of golf courses in the area.

Recent Sales (Updated Info.): During the past year, four units have been sold. The contract prices ranged from $174,000 to $230,000 and none were distressed sales. Three of the units, which ranged in size from 1800 to 1888 square feet, had no basements and sold for $174,000 to $182,000. The patio home that brought $230,000 had a finished walkout basement with 1000 sq ft, plus 1930 square feet on the first floor. The current maintenance fees range from $193 to $237 per month, depending on the size of the unit.  Not FHA approved.

Management Company: This complex is managed by Mulloy Properties, Inc. Here is a link to their website and the Master Deed for the Village of Beckley Woods. http://bit.ly/YwHrp9

Suitability for Downsizers (New Info.): Given the convenience and relative safety of this location, this patio home development should be considered by anyone wanting a smaller home. Here is a link to a map showing the criminal activity in the immediate area around this complex during the past year. http://bit.ly/Vye9RD

Here is a link to a prior post that discusses issues needing consideration before an offer is made on a condominium. It is based upon my 11+ years of experience as a Realtor and my 16+ years as an owner and periodic board member at Hurstbourne Ridge Condominiums.

Photo courtesy of Flickr.com & Blodgett Esq’s photostream

@homeslouky

Typical building in complex.