High Rise Condos on North Strip

[Darius Ogloza]

Anyone here investing (or considering investing) in high-rise condos on or near the strip?  Interested in your thoughts about likely effect that the completion of Resorts World and the Drew will have on this market (especially North Strip - e.g., Allure, Sky, Turnberry).  

[Darius Ogloza]

Many of the buildings are located in the 89109 zip code. You can consult prices online by plugging in the zip to your favorite real estate search site. View and relative height within the building are factors in pricing. For example, a unit with a strip view on the 25th floor is likely to fetch more than a unit on the 5th floor facing the side of the building next door. The HOA fees are very high. By LV standards, you can say outrageous. Often, there are two HOA's - one for the community and one for the building. $600/mo for a 1,000 square foot apartment would not be considered abnormal. You could pay more in the "better" buildings. Commensurately, the rent you receive will be high per square foot than in non high rise condos. i agree with Marty wholeheartedly that these are essentially appreciation plays.