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I like condo hotels at MGM Signature Residence Towers which are built behind MGM Grand Casino as a good Las Vegas high rise condo hotel investment opportunity.

Las Vegas MGM Signature is a good option for you if you want a hotel/condo. They let you use your unit as much or as little as you want and you can get in their rental pool to rent it on nightly basis when you’re not there. You can rent it yourself but have to pay a rental fee each month if you don’t use their management. Owners (not renters) get to also use the MGM Grand Hotel pools and get discounts at restaurants and the spa at the MGM Grand.

Three MGM Grand Signature Residence Towers in Las Vegas

I have previously written about issues that an investor must consider in a previous blog post:

Buying Las Vegas, Nevada new high-rise and mid-rise condos continued

Now I will go over a few issues that the investor has to consider, however there is much more which I will not write about and save for my own customers.

MGM Grand Residence Towers was built in 2005-2007. According to SalesTraq which is a new home and condo data base in Las Vegas.

The Builder originally sold 578 high rise condo units in three towers. Four hundred two, 520 square foot luxury studio suites where sold for an average of $622,000. Twenty eight, 847 one bedroom luxury condos were sold for an average of $800,000 and another one hundred fourty eight, sold for an average price of $1,000,000.

Inside view of ultra luxury studio condominium at MGM Grand Las Vegas

In the last blog post I wrote that the reason that I think Las Vegas high rise condos are now a viable investment opportunity is because they provide some kind of positive cash flow at a reasonable price and MGM Grand Las Vegas condos are not an exception.

Let’s discuss current pricing; an investor has a good chance of buying a 520 square foot studio suite for about $150,000 plus or minus, thirty thousand dollars. This is about 25 cents on the dollar as compared to the original price. One bedroom condo hotel suites can be purchased for $250,000, plus or minus $50,000. This range is not too wide since some condominiums have a balcony and penthouse units should be more expensive than a third floor unit. Strip and pool views add to the price too.

The 520 square foot studio suite in MGM Grand is comparable to a Meridian two bedroom condominium in terms of price and HOA fees. The reason that MGM Grand Signature Towers beat Meridian is that there is no rental restrictions in MGM Grand Signature Towers and the owner of the condo can rent his/her condo on a nightly or weekly basis if he/she wanted to, Meridian rentals have to lease for at least a month. MGM Grand condos come fully furnished; the investor has to pay through the nose to get a rare furnished unit at Meridian.

Related web-site pages:  Las Vegas high-rise condos news, Las Vegas condos and investment properties for sale, Buying Las Vegas, Henderson, North Vegas condos for sale,

My Name is Masoud and I am a Las Vegas Realtor, my contact info in the bottom of the left side bar.