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Old 06-11-2013, 12:28 PM
 
351 posts, read 834,651 times
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Good luck finding one.
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Old 06-17-2013, 01:29 AM
 
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I live in Cali but I'm thinking of purchasing a condo in LV. (I might eventually move there.) Since I don't plan to rent it and it might be vacant for months at a time, I'm thinking of a medium rise development like Park Avenue/Manhattan. In a single family home or one of the two story condo developments, my absence might be clear. I figure that in PA/M, no one would know. It would be the same in a high rise, but I don't have high rise money and don't like the upper floors of those things anyway.

So here's my question: If I like PA/M what are other similar developments in a similar price range? I'm not wedded to a neighborhood, but I want it to be decent. PA/M seems fairly close to the city and I like that. I don't want to do Henderson or even Summerlin -- although I might be persuaded if the price was right.
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Old 06-17-2013, 06:19 AM
 
Location: North Las Vegas
1,631 posts, read 3,938,914 times
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Quote:
Originally Posted by gaash2 View Post
Anyone have thoughts on these from an investment point of view? Seems most investors are buying up single family homes, I am wondering if that is leaving some opportunity in condos.
Park Ave and Manhattan both properties have a lot of investors that own units in them.
Investors like them because they are easy to rent out ant they get nice rents for them. The hoa's aren't that high in Park towers they run $249.00 a month and Manhattan runs $325.00 a month.

Those fee's include sewer,trash and water, and maintenance of the grounds and all common area's as well as the amenities like the pool and gym, guard gated. There are single family homes that the hoa's can be that high if they were to have all of these amenities the hoa fee's could even be higher in some cases.

Investors like them because professionals that work on the strip or even downtown like to live in highrise properties, and they are easy to rent. Actually any highrise condo is easy to rent most of the highrise towers have waiting lists for them.

There wasn't that many highrise properties in Vegas compared to houses and they are still building houses. Where as I have been told by the developers of the highrise properties built they don't see another highrise built in 25 yrs maybe never. Especially since highrise condo's are still selling for less then it costs to build. There is only a little over 300 resale highrise condo's for sale on the market now,prices have been going up just like the houses. However they are still less then when the boom was going on. Anyone coming from New York or Chicago even asia really appreciate the value of the condo's here compared to where they are from.

Right now the only units listed for sale in the Manhattan and Park Ave already have tenants in them so you could purchase a unit with a tenant.
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Old 06-17-2013, 11:49 AM
 
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what are the going prices for Manhattan and Park Ave these days? and how much do they rent?
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Old 06-17-2013, 09:46 PM
 
3,598 posts, read 4,929,467 times
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Not sure about rents, but here's selling prices:
Real Estate Search | Redfin
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Old 06-25-2013, 09:01 AM
 
151 posts, read 211,941 times
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thanks for the responses. I'm based in NY so for me it's more an ease of use. I do not invest for carry, only for appreciation as for me being from out of town I have to give up my carry to property management and other waste.
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