Review of Hurstbourne Springs Condominiums Louisville, KY

 

Small & skinny home in Amsterdam, NL

Hurstbourne Springs Condominiums: Located just north of Six Mile Lane off of South Hurstbourne Parkway. The community is accessed from Raintree Dr, which intersects South Hurstbourne Parkway.

 

General Description: Construction spanned a period from approximately 1997-2002.   According to the Master Deed, the complex consists of 160 brick units. The units are either 1 or 1.5 story dwellings with square footages ranging from 1500 to more than 3600. The smaller units have two bedrooms and two full baths, while the larger ones have three of each. About one-half of the units are fully stand alone patio homes with no common walls. The remaining units are attached to a second dwelling with the common wall being the attached 2-car garage. Every unit has a 2-car garage and many have full basements, some of which walk-out to the patio. Owners must occupy their units, although one year leases are allowed under certain circumstances, as detailed in the by-laws (i.e., death, job relocation, etc.). The By-Laws allow pets (i.e., dogs and cats) and there are currently no weight or quantity limits. The rules regarding leases are found here. http://bit.ly/2ak6Mxz

Dwelling Features: Most, if not all, of the units include gas fireplaces, vaulted ceilings and recessed lighting. Open floor plans predominate.

Common Area Features: The complex includes a beautiful, old brick clubhouse that appears to have been a former farmhouse. The clubhouse has a kitchen, a party/meeting room and a fitness room. There is also a smallish in ground pool. The grounds are fully landscaped, irrigated and very well maintained.

Neighborhood Features: Very convenient location. There are a wide assortment of grocery and other shopping, all within a mile or so of the development (e.g., Meijer, Home Depot, Kroger (3), Wal-Mart, etc.). The expressways are also nearby. Twenty minutes to most anywhere in Louisville.

Recent Sales: During the past year one 1.5 story unit was sold. It did not have a basement and sold for $185,000. The maintenance fees vary considerably, given the wide range in square footages. The smaller units are about $140/month, while the larger units are approximately $290/month. During 2013 seven units were sold. Three were 1.5 story units that ranged in price from $175k ($112/sf) to $285k ($132/sf.) The four 1 story units sold for prices ranging from $180k ($123/sf) to $225k ($149/sf.) During 2014, eleven units were sold. Seven were 1 story units which ranged in price from $141k ($124/sf) to $271k ($142/sf.) The four 1.5 story units sold for prices ranging from $215k ($126/sf) to $330k ($150/sf.) During 2015, eight units were sold. The three 1 story units sold within a range of $225k ($104/sf) to $257.5k ($143/sf.)  The five 1.3 story homes sold for prices ranging from $168k ($99/sf) to $255k ($125/sf.) As of July 28, 2016, five units were sold. Two were 1 story homes which brought $267k ($143/sf) and $258k ($150/sf.)  The three 1.5 story homes sold within a range of $195k ($103/sf) and $218k ($109/sf.) 

Suitability for Downsizers (New Info.): This patio home 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 important issues that should be considered before making an offer on any 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.

This is a safe area, based upon my experience as someone who has lived nearly next door to Hurstbourne Springs for the last 20 years. 

For more information about this complex, visit the following link to the property manager.
http://mulloyproperties.com/condo_management/community_file_downloads.asp

Photo courtesy of Flickr & Cha Gia Jose

Clubhouse.

 

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