by Travis Scholl, Leading Las Vegas Luxury High Rise Condo Real Estate Agent
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Located at 2600 West Harmon Avenue, The Vdara Hotel-Condo was the first high rise condo tower to be built inside the City Center Complex that contains The Aria, Veer Towers and the Mandarin Oriental. This 57 story tower houses 1,495 furnished and appointed condominiums ranging in size from approximately 526 to 1,750 square feet. Vdara Condos have floor plans that include studios, deluxe studios, 1 and 2 bedroom condos & penthouses.
About Las Vegas Hotel-Condos
We receive many calls from prospective Clients curious about the Hotel-Condo type of high rise building and many do not know what is truly is. Hotel-Condos in Las Vegas include units in The Signature at MGM Grand, Palms Place, Trump Tower Las Vegas, The Platinum LV and Vdara Hotel-Condo across from The Aria Resort and Casino.
As an owner of a Hotel-Condo you will then have the option to place the unit in the rental program with the on-site management. Some of the Las Vegas Hotel-Condos permit the use of 3rd party property managers as well, or even rent them long term. If you choose to enter a rental program, you will receive a monthly portion of the revenue created which is based on how many nights within each month that it is occupied and the daily rate as set by the hotel management. The daily rate is set by demand of course and varies based on how busy the hotel is throughout the year which is affected by what is happening in the city from month to month for example, conventions, concerts and events, seasons and availability throughout the hotel industry.
The Vdara Condos can be placed on AIRBNB.com as well, for those who wish to self manage and retain a larger portion of the income.
What will the income be on a Las Vegas Hotel Condo?
Clients interested in the Hotel-Condo units typically ask, “How many nights can I expect to have the unit occupied per month and what will be the net profit I receive from the revenue it creates ? ” As Realtors we cannot sell a Hotel-Condo unit with any promise of a given return or projected revenue stream, but once you are in contract on a unit you can request a rental statement history. This can be included as part of your Due Diligence period. You will then have an opportunity to review the actual monthly amounts that that unit has produced along with the HOA monthly dues and what they entail, and management splits and charges.
An easy way to get an idea of what the top line room revenue may be is to hop on any travel site on the internet and look at the going rate for a unit is in whichever Hotel you are considering purchasing in. That will give you an idea of what the units are getting on a nightly basis at that point in time.
Perks of Las Vegas Hotel-Condos
For Clients who are looking to purchase a unit that they can use for themselves when they come to Las Vegas and then have that unit rented out the remainder of the time without any effort on their part of constantly securing a new Tenant, a Hotel-Condo can really be an excellent option.
Parking for Vdara owners is free of charge and via valet.
Monthly HOA dues do tend to be higher than that of a residential condominium, but the services provided include hotel front desk personnel and larger common areas. The Vdara has a lounge in the Lobby as well as a Starbucks and the Pool area covers 40,000 square feet with 19 cabanas. A two-story spa and salon called Spa & Salon Vdara is made up of 11 private treatment rooms, a sauna, a steam room, co-ed lounges, a full service salon, a fitness center and a smoothie bar. All of this combined with the full service Valet and doorman along with bellhop service and an area for guests to walk their pets make Vdara a destination without compare.
The Building and Location – CityCenter Las Vegas 89158
Vdara’s interior is adorned with art work throughout the and the structure itself is a work of art created with three parallel, offset arcs of varying heights. Because of its staggered arc design, Vdara contains six corner suites per floor, compared to just four in a more conventional building. The curvature of the building is complementary to the arcs of Aria Resort & Casino, which is located across a shared circular driveway. Many of the units that face north have breathtaking views of the lake at The Bellagio and the amazing fountain display that is featured daily. Vdara sits right next to The Cosmopolitan Hotel / Casino and is also just steps from the Crystals Shops and The Aria Resort. It is unrivaled in terms of location and the interiors of the units are furnished with a clean, modern style that gives guests a spacious and a functional interior space to enjoy while they spend their time here in Las Vegas.
Vdara Las Vegas Condo Availability & HOA Dues Info
The HOA dues on the Studio units are approximately $688 per month and the one bedrooms are approximately $980. Available inventory at The Vdara or any of the other comparable Hotel-Condo Towers in Las Vegas can be viewed on our site HERE
About The Stark Team
The Stark Team has been selling residential and hotel-condo luxury high rise units from the pre-construction days of 2005-2006. We have extensive knowledge of the current market as well as insight into the history of the buildings and how they have changed and affected the real estate market over the last ten to twelve years. We were the top agents at The Cosmopolitan when it was originally announced as a hotel-condo project (there are still units for sale in the MLS but they are extremely rare, at the rate of 1-2 sales per year) and we were sought out by the Brokers of City Center when it was first announced at it’s inception as Agents to help sell units in Vdara, Veer and the Mandarin Oriental. We at The Stark Team, serve to assist our clients in making the most intelligent and sound decisions when purchasing a property in the Las Vegas luxury high-rise or residential market and always offer an honest and caring approach to Client interactions. We love real estate and take pride in making our Clients happy with every transaction !
BROWSE VDARA LAS VEGAS CONDOS FOR SALE
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