Taylorsville Road Condos (Louisville, Bardstown, Paris: real estate, apartments, rentals)

[otterhere]

On Betty, across from Dutchman's Lane (RMB Condos or something like that). Considering buying one as a current rental investment and eventual personal residence; yay or nay on the area and complex? Thanks!

[censusdata]

Don't know about the complex but that's a good area.

[otterhere]

Thank you! It seems to be relatively close to everything and within walking distance to Seneca Park, which connects to Cherokee; also within a bike ride to Bardstown and the Highlands.

[Peter1948]

Originally Posted by otterhere

On Betty, across from Dutchman's Lane (RMB Condos or something like that). Considering buying one as a current rental investment and eventual personal residence; yay or nay on the area and complex? Thanks!

Cant go wrong there unless you overpay. For a small condo, I would not pay over 90-100/sq foot. Great location but there are better locations within the Highlands for rentals.

[tomocox]

All real estate is all about location, location, location. Today, for example, my wife and I were busy trying to prepare competitive market analysis for a home right in the area the OP indicated. It is amazing what 75 feet means to the value of a home. A home with 3,000 sq feet in Seneca Gardens, is worth $100,000 or more over that of a home 75 feet across Taylorsville Rd in Strathmoor Village. Same quality, same age, same everything, but 75'.
.
Otterhere, as an investor, you will be looking for the most return on your investment. In the short term, it matters not where property is located, but rather what you must pay for it, and how much can you rent it for and how many will want to rent from you. You must also be certain in a condo situation what the HOA allows regarding rentals including such silly little things as "For Rent" signs on the property.
.
I recommend that you use a licensed real estate agent who is versed in commercial or investment properties.

[Peter1948]

Originally Posted by tomocox

All real estate is all about location, location, location. Today, for example, my wife and I were busy trying to prepare competitive market analysis for a home right in the area the OP indicated. It is amazing what 75 feet means to the value of a home. A home with 3,000 sq feet in Seneca Gardens, is worth $100,000 or more over that of a home 75 feet across Taylorsville Rd in Strathmoor Village. Same quality, same age, same everything, but 75'.
.
Otterhere, as an investor, you will be looking for the most return on your investment. In the short term, it matters not where property is located, but rather what you must pay for it, and how much can you rent it for and how many will want to rent from you. You must also be certain in a condo situation what the HOA allows regarding rentals including such silly little things as "For Rent" signs on the property.
.
I recommend that you use a licensed real estate agent who is versed in commercial or investment properties.

Tom, that is actually very sound advice. For a rental property, though, paying a premium is not worth it to be in Seneca Gardens. I think that is your point. However, if this was a personal home, then the best location in that area is without question Seneca Gardens for return in investment.

[otterhere]

It's actually BOTH, which is what makes this so difficult (will rent it out for a couple of years, then occupy it when I retire -- again, for just a few years -- then either sell or keep it for rental income when I move on). Of course I've looked in the Highlands and Cherokee Triangle (my ideal location) but, when it came down to it, I didn't want to invest that much for my particular purposes. If I were looking for a lifetime home, yes, but I'm primarily looking for a return on my money (am sure not getting it at the bank) and just a modest place to lay my head while I travel and decide where to "settle." I mostly just wondered if it was a good complex; low crime and all that. From what I've seen, it looks fine for my purposes. And the Seneca Park (which connects to Cherokee Park) bike path starting right across the street doesn't hurt, either... Thanks.

[veggienut]

I know about this place. These use to be apartments for many, many years and they switched them into condos perhaps in the mid-80s-90s, I forgot. I had a friend of mine that lived in there when they were condos. I don't know if they were there during the conversion, but I think they were. I recall the kitchen is small and the whole place. There is no covered parking, only parking spaces.

[censusdata]

If you want to invest start buying everything in site around the East End bridge in Indiana or around Spring St in Jeffersonville. Those houses are cheaper than dirt right now and have huge upside, both urban and suburban. The Big 4 bridge is providing insane amounts of foot traffic that goes right to Spring St shopping area. Utica area will suddenly be near 10k new blue collar jobs at River Ridge and have new access to the glut of high paying jobs in NE Louisville.

If it's an investment I don't think I'd buy anywhere near the Highlands, other than further in and to the west (Germantown). Highlands is a $300 stock that may hit $350. It's already pricey. Indiana is a $15 stock that could hit $100

[otterhere]

I'm not looking to invest BIG TIME; just to put some money to work for me until I'm ready to live there myself. Finding something that doesn't require a huge outlay of money (I agree that the Highlands are ridiculous; even streets I wouldn't want to live on are priced like Manhattan or Paris) yet can earn me decent income and also suit me personally has been difficult... I'm not particularly excited about this condo complex, but it should serve *both* of my purposes adequately.

No one has yet said it's a horrible place, LOL, and that's the information I was looking for. Er, hoping not to get. Haha!