Palms Place Penthouse - A $4,500,000 Las Vegas Condo Being Listed for Only $1,800,000?

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Investors have to look in new places for prospects says Savi Realty. Is high end real estate in Las Vegas the niche investors are going to next?

palms place condos las vegas penthouse

Palms Place Penthouse - View From Hot Tub on Balcony

I do not expect this to last a week on the open market. - Steven Khalilzadegan, Las Vegas Broker

Palms Place penthouse - Exclusive video before it hits the Las Vegas real estate market.

Looking to place some cash in Las Vegas? Think all the killer deals have dried up? This Palms Place penthouse may have the answer according to long time Las Vegas Broker Steven Khalilzadegan. Many investors have been active in the Las Vegas condo market over the years since the market hit bottom in 2011. "In recent times they have started to cool off noticing its harder and harder to find a great flip but with any market you just need to look in the right spot," says Steven Khalilzadegan Broker of Savi Realty. It seams that the ultra luxury section of the Las Vegas Condo market has a new prospect about to hit the market.

Palms Place has a penthouse that has not hit the MLS yet and Steven feels it has hit all the buttons for a savvy investor to look closely at.

Rarity: There are 12 two bedroom penthouses but only 4 three bedroom penthouse. This one is located on the top 58th floor of the tower.

Location: Palms Place is located on Flamingo Blvd close to the Las Vegas Strip.

Income Producing: The "A" penthouse floor plans at the Palms are said to rent out consistently by the front desk starting at $3,500 a night.

View: One of the most desirable views in Las Vegas according to local agent would be a wide strip view. You can look over all of Las Vegas Blvd from this units 1,407 square feet balcony form within the built in glass hot tub.

Value: Each of these 3 bedroom penthouses sold for around $4,500,000. One sold at auction for only $1,755,000 as a distressed sale. The buyer of course had to pay back taxes and home owners association dues on the property increasing the actual purchase cost. This owner is ready to move this Las Vegas Condo at only $1,800,000.

Palms Place Condos - Penthouse Stats

Price: $1,800,000
Size: 3,905 sq. ft.
Bedrooms: 3
Bathrooms: 4
Balcony: Yes, 1,407 sq ft of space with built in Hot Tub
Movie Room: Yes

The view from this Palms Place Penthouse says a lot. No other Las Vegas condo will have a built in hot tub with glass windows overlooking Las Vegas Blvd. The value in this particular unit is apparent. "In no other state would you be able to get the larges floor plan available in the tower on the top floor for under $5,000,000 with amenities like these. At only $1,800,000 this is a well priced listing that will have a short time as active on the open market," says Steven Khalilzadegan. Since this is a hotel that you can live in you may order room service, use the cleaning service or head to the pool all available to owners of this Palms Place penthouse.

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Steven Khalilzadegan
Savi Realty
+1 (702) 810-6039
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since: 06/2011
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