Did you know that the Strip is different than downtown? Many mistaken the two as one and the same. However, there is a considerable difference. Downtown Las Vegas, which is north of the famous Las Vegas strip, is where what is known as Las Vegas began! The original hotels, such as The Plaza, Binion’s Horseshoe and California still make up the skyline. Our local government and court system is downtown. And of course, Fremont Street. Further south, from the Stratosphere to the Mandalay Bay is what is known as the Strip – the entertainment mecca that draws millions every year. While tourists may be familiar with the hotel, dining and entertainment options in both downtown and the Strip, what about living in those areas? Are there properties available?
To answer this simply – yes! Properties will vary considerably though. In the downtown area, older, vintage type housing will be available. Depending on the upkeep, those homes will need make over’s and updates. However, in more recent years, mid and high rise residential buildings have taken shape. For example, the Ogden and Soho lofts offer beautiful amenities, contemporary units and luxury features, such as rooftop pools and exercise facilities. Of course, these properties come at a premium and monthly expenses in the form of HOA dues are considerably higher than a single family home. However, for those interested in downtown living, options do exist.
The Strip has gained considerable attention as well within the last 20 years. While residential communities of homes exist within a relatively short drive to the strip, those wanting to live directly on it or within short walking distance have options. For example, Turnberry Towers, Panorama Towers, Skytower and others offer this experience.
The amenities are luxurious – for the right price. Views can be extraordinary, encompassing the Las Vegas skyline and mountain ranges surrounding the Las Vegas valley. The features of each individual unit offer a unique lifestyle. Of course, as go the features so goes the price. However, for those desiring that lifestyle, the strip delivers.
For those interested in investing in either downtown or the Strip, especially with the goal of generating a return on their money via renting their units, it is important to talk to a qualified property manager since rental income will vary. Nicklin can help. We have experience in both leasing and management of high rise units.
Downtown Las Vegas along with the Strip are continuing to attract many. New developments and multi billion dollar projects are underway, adding to the excitement of living in this prestigious area. This, along with the amenities that high rise buildings offer, continue to attract new homeowners and investors.
Contributed by Nicklin Property Management.