The Signature at MGM - Las Vegas High-Rise Condo-Hotel Unit for Sale

The MGM Signature is popular condo-hotel high-rise a block from the Las Vegas Strip. It is one of only five high-rise condominiums in Las Vegas in which you can put your unit into a rental program.
The Signature at MGM Grand consists of three towers, each 38 stories in height, with a total of 1,728 units. Construction was underway in 2004, and the first tower opened in May 2006.
One cool thing that sets Signature MGM apart from a lot of other high rises is that it is one of only 5 high rises in Las Vegas that the units can be sold and then put into a rental program where the hotel they are associated with rents out the rooms like one of their hotel rooms.
This has pros and cons. You are able to make back your investment and enjoy the property when you visit Las Vegas. However, the unit looks and feels like a hotel room.
Units in the Signature at MGM are priced from $269k all the way up to $1m and range in size from a 520 square foot studio to a 1394 square foot 2 bed 3 bath unit. HOA dues range from $705 to $2024 and they include access to the business center, community pool and spa, concierge, security, and laundry facilities.
This modern all-suite condo-hotel is an 8-minute walk from the MGM Grand casino, connected by a series of walkways as well as Top Golf and some of the best restaurants and shows. MGM Grand is home to Morimoto, a restaurant run by chef Masaharu Morimoto who created a bridge between the culinary traditions of his native Japan and the American palate. It also houses Joel Robuchon, a high end decadent French restaurant. And finally, the MGM has the ever popular Wolfgang Puck Bar and Grill. It’s also home to one of our favorite Cirque du soleil shows-KA.
Christina tours a unit located in Tower 1. This is a 1 Bedroom Penthouse Unit on the 33rd floor with an extended balcony. It boasts views of Top Golf and the MGM Grand Pool. The unit is fully designer turnkey furnished and features a jacuzzi tub, plasma TVs, custom Snaidero cabinetry w/ granite counters. This unit is priced at $399k and HOA dues on this unit are $1379 per month.
Perks include a sleek lounge and a deli, 2 fitness centers and a private heated pool for each tower, as well as access to the MGM Grand's outdoor pools and beach club
Interested in owning a high-rise on the Las Vegas Strip? Christina is your real estate expert.
Christina Stockdale
The Thomas Group - Real Broker, LLC
[phone] x 4
[e-mail]
thethomasgrouplv.com
License S.0179182, S.0185994

[@hemaccabe4292]

That HOA is a bitter pill. Does not seem to be enough amenities to justify.

[@texaspony]

Lovely view of the airport 🧐

[@DEMediaDrive]

Great presentation. Thanks! 👍

[@thethomasgrouplv]

Thanks for watching!

[@SwastikaHinduSansrkit]

I think the idea of Vegas hotels starting this rental/ownership program started due to Covid. Hotels in Vegas lost billions in revenue in just 1 year. The only thing I see here is if a high name brand hotel is having issues renting rooms, how can a regular Joe Blow purchase this and try to rent it out? Especially the HOA fees are staggering in price.

[@thethomasgrouplv]

Most of these condo-hotels were developed in the early 2000s. No actual hotel rooms have been converted to condos since COVID. Hope that helps clarify, and thanks for watching!

[@MrFreemindonly]

Joe blow hahah

[@scotttild]

Nothing to do with covid, these towers were rental condos long before.

[@scotttild]

Nothing to do with that. All these condo hotels were started way before that.

[@latasha3472]

I would love to buy a condo at the signature 😍.

[@thethomasgrouplv]

Signature is a good choice! Here if you have any questions about making that a reality 😊

[@scotttild]

Signature is not a bad place to stay but its kind of gone downhill for some reason. Its my alternative weekend place if everything else is booked up. I still like they have the jetted tubs.

[@johnnyblaze522]

😻😻😻

[@thethomasgrouplv]

Thanks for watching, Johnny!

[@raymondc8156]

Is there a place online I can go to read the details of the HOA fees? I'm wondering what services they cover. If it covers any of the services rendered as part of the rental program(towels, cleaning, laundry, etc.)? If the unit isn't part of the rental program does that change the HOA fees?

[@thethomasgrouplv]

Hi Raymond!
Thanks for watching.
Yes, please email us what you’re looking for and Christina will get all of the relevant info for you regarding services rendered etc, as it will vary from building to building - [e-mail]

[@phillyblaze777]

Where is the second bathroom? It looks like the master just opens out to the living area ?

[@kcha2004]

Great video! What are the other 4 condo communities that have rental programs? Thank you.

[@thethomasgrouplv]

Thanks for watching! They are the Platinum, Vdara, Trump, & Palms. Please don’t hesitate to reach out if you have any further questions, our email is [e-mail].

[@kcha2004]

@@thethomasgrouplv thank you.

[@kennixox262]

When you own a condo hotel. You get a certain percentage of the nightly room rates. Most places just 50%. The real kicker is that the owner of the unit has to pay for refurnishing from time to time. After all, it is a hotel room that has to conform to certain standards to be part of Hilton, for example. Some places, the owner can only stay for a maximum number of nights per year. These are like scamshare units. Bad investments.

[@chunckyfreshnut]

Is a condo with 20% down cash flow positive? Does you have to pay electricity, water, and internet

[@thethomasgrouplv]

Hi! Thanks for watching. It really depends on the property but we can find you options that would. The tenants will pay for the electricity, water and Internet. Please don’t hesitate to send me an email [e-mail] if you have any questions 😊

[@douglasbowden1913]

Rent fee is ?

[@alexp3997]

Are there plans for more condo developments on the strip? I know several hotels are planned but I don’t see any residential?

[@thethomasgrouplv]

Not anything that we’re aware of. Fontainebleau was originally going to have a condo-hotel portion but as far as we know it’s all hotel now.

[@jessemcelroy5266]

There is a 33 story tower downtown in symphony park that just got approved by city council last week. And there might be another one on the way downtown.

[@lisapila4054]

Are MGM and Palms time shares or owned 100% by owners? Someone told me they were both timeshares.

[@thethomasgrouplv]

Units are owned by individual owners, but you can opt to be a part of a rental program where the complex will rent it out for you.

[@airbourne2]

What did the unit end up selling for? Thx

[@thethomasgrouplv]

It’s still available I believe…

[@miriamtillis2257]

Forgive me I'm new to your channel; is this unit for sale FURNISHED?

[@thethomasgrouplv]

Welcome and thanks for watching. Yes almost all the units sold in this complex are fully furnished. They operate similar to a hotel.

[@hemaccabe4292]

Would like a better home office.

[@Ducksfan76]

And if you wanna finance or try to get a loan it won’t work usually these are cash only properties

[@thethomasgrouplv]

Hi Drew, You can use a DSCR loan. Email me if you want more information - [e-mail]

[@tompayton81]

$1379 HOA!!
That is ridiculous!!

[@edwinrodeo]

Rates vary from 505> 2025 per month ,,

[@rab52764]

How much can you rent it for and what is the occupancy rate?

[@thethomasgrouplv]

Hi Randy! Shoot us an email at [e-mail] and Christina can share a sample profit and loss sheet with you.

[@g-uy9me]

i have to say it. you are so pretty!! ;))

[@ag2158]

So you can purchase it, then resell this condo correct?

[@thethomasgrouplv]

Hi! Thanks for watching. Yes, that’s correct 😊

[@ag2158]

@@thethomasgrouplv Do HOA fees increase yearly? Do these condos include electricity and water? Or is that a separate bill?

[@thethomasgrouplv]

@@ag2158 They don’t increase yearly, but are subject to potential increases at any point.
You would be responsible for your electricity, and water is covered in the HOA fees.

[@ag2158]

@@thethomasgrouplv Oh ok so HOA fees include your utility payment.

[@ag2158]

@@thethomasgrouplv Another question if you purchase this condo can you rent it out on the days you are not present since it is yours?

[@JavierBustamante-xh3ln]

I can't believe this units they come with a cheap electric stove.

[@bidensucks6792]

I worked at this place, you don't want to own or live here!

[@izallindaeyez]

Why?

[@bidensucks6792]

@@izallindaeyez
Just off the top of my head,
1) Extremely expensive HOA
2) The furniture is original form 2006, so almost 2 decades old now.
3) unless you leave the property the only dining offered is delight's, the lounge, starbucks or in suite dining. 3 of those options the food is coming from the same kitchen.
4) this place is a stepping stone for MGM international employees. So turn over is high.
4) they used travertine as decking for the pools, it's EXTREMELY slippery when wet.
5) management is almost non-existent any that does exists is piss poor at best!
6) no self parking, valet only. High occupancy weekend and events sometimes leads to up to 2 hours to get your car.
That's just a short list of the top of my head though.

[@scotttild]

@@bidensucks6792 They have gone down hill a bit, they still are a good value for weekend stay, but would never own their and your right about everything.