Max 75% LTV Purchase. Barefoot Commons Branch. Top 10 Most Affordable Cities in South Carolina Jul 24, 2023 6. Short title. A condohotel, or a condo hotel as it is also called, is a unique type of residential and rental property. 2318867 MLS. Experience stress-free financing today! (866) 803-2853. Investing in a condotel property can be an excellent opportunity for individuals seeking a lucrative real estate venture, especially in a popular tourist destination like Myrtle Beach, South Carolina. Cash-out refinance mortgage loans on a manufactured home requires a loan to value. Click here to get started or call our main branch (866) 418-9219 to speak to a CCNB mortgage specialist. General Provisions. 201 S Ocean Blvd #905, Myrtle Beach, SC 29577. 256. Applicability. Alpha Mortgage is licensed in North Carolina (L-113831), Virginia – Licensed by Virginia State Corporation Commission (MC-4927), South Carolina (#93265. Condotel And Non-Warrantable Condominium Mortgage Underwriting Process. Ccnb offers special rates and terms specifically for condotels that include. Low-Down-Payment loans : FHA. 1,700 sqft. Financing for new and used vehicles. 1625 S Ocean Blvd Unit 1802. Fannie Mae Updated Condominium Lending Guidelines. Discover if investing in condotels in the Philippines aligns with your investment goals. Great Vacation at a Wonderful Spot!!For sale. The price per square foot is about $126. ; PBX phone system; high-level guest services such as 24. (866) 803-2853. Fannie Mae Updated Condominium Lending Guidelines. 00, with the average rent median estimated to be $1,250. Water temp is wonderful in June!Myrtle Beach Condos with an Angle Oceanfront View. In this second part of our blog series on condominiums and condotel financing, we will explore the ad. At Acorn, let the best loan offer find you on our secure and user-friendly platform. Condotels at One Ocean Place: VERY Disappointed - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. 3 bath. Most Condotel Loans close in 21 days or less. In such cases, the Loan-to-Value,. Max 65% LTV Refinance. It is similar to a hotel in that many times the building actually looks like a hotel, but each individual unit is. Condotels are condominium projects, which are individually owned and operated as a hotel. 1025 Highway 17 South. Is This Your Tripadvisor. Home Spring Mortgage is the the largest non-qm (non-qualified) mortgage lender in South Carolina, providing diverse mortgage loan options for borrowers to achieve their dream of homeownership. Call ☎ (800) 697-4371 info@afbcarolinas. " Meaning they are a condo that is in what they consider a hotel. Condos for Sale: Condos for Sale • Little River Condos • Myrtle Beach Condos • Mt Pleasant Condos • Isle of Palms Condos • Wild. Need Condotel Financing in Aspen, Snowmass Village, Steamboat Springs, Telluride, Vail? We have condotel programs that allow: up to 75% financing on condo-tels to $2. Fast Quote. Condotel and Non-Warrantable Condo Financing. 5), this property has a DSCR of 1. California home buyers with credit scores as low as 580 FICO can now qualify for California home loan with bad credit. “Below is a list of all of the buildings and condos that I have closed loans in recently that I know are already approved as true condos and meet all the. Condotels are condominium units situated within a condo hotel. Text us for a faster response. Prequalify. Call ☎ (800) 697-4371Myrtle Beach condotel financing guidelines made easy Our flexible options and expert guidance ensure a seamless experience. 788%. The Best CONDOTEL Financing. Condotel Financing Guidelines. There are no in-state. According to a study that evaluated condo-hotels in the Florida state and projected returns over a five-year period from 2006 to 2011 the return rate is usually 1%. There are also plenty of amenities and daily housekeeping. To the average guest, a condo hotel unit might seem no different than a regular hotel suite, but the key difference is that it is individually owned. Max 75% LTV Purchase. Fidelity Home Group offers mortgages for warrantable, non-warrantable and condotel property types. Officials acknowledged their vote was tied to a $100 million “condotel” project proposed along 30th Ave. A condotel is just what it sounds like—a cross between a condominium and a hotel. Alpha Mortgage is licensed in North Carolina (L-113831), Virginia – Licensed by Virginia State Corporation Commission (MC-4927), South Carolina (#93265), Florida (MLD1700), Georgia (#93265), and licensed in Texas – SML Mortgage Banker Registration. 3D Tour. 5905 South Kings Hwy. A&D Mortgage LLC is licensed by. COMMERCIAL. Now you can offer borrowers financing for their condotels – all with the program options and service levels that you’ve come to expect from LendSure. Condotel unit buyers do not own a home and rent and are purchasing the Condotel and that Condotel is the only property that can have it. Purchase, Rate Term and Cash-Out Refinance options available. Learn more about how these rates, APRs and monthly payments are calculated. If you are considering investing in a condotel and wondering whether now is a good time, this is the best advice we can give those who are looking for a condotel mortgage in South Carolina. Investment property loans Commercial & Residential Condo Hotel Loans. Unlike Our Competition, We Do Not Believe In Having Banker’s Hours. At Fidelity Home Group, we are Condotel Financing Florida mortgage experts! The Condotel also known as the Condo Hotel is quickly becoming popular in Florida as an investment opportunity. 40% down payment on investment condotel. House For Sale. have a fully functional kitchen. Assessing Risks and Returns in Condotel Investments. Demise Of Condotel Financing After Real Estate Meltdown. If you have any questions about the content in this article or need to qualify for an FHA loan in South Carolina, please contact us at 800-900-8569 or email us at gcho@gustancho. 5. To get a condotel unit or non-warrantable condominium unit approval, the condotel unit or non-warrantable condominium unit needs to be the following: at least 500 square feet. Condotels at One Ocean Place: 902 One Ocean Place is Excellent! - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. The largest property for sale is 3,174 sqft and smallest 307 sqft. At times in 2022 and 2023. One Ocean Place. Documentation: Qualify with either a traditional full doc loan or a limited document bank statement-only loan. 2 Beds. We offer a variety of mortgage options: Conventional Mortgages. Our experts can help you with the premier mortgage. Minimum Credit Score: 575. Las Vegas-based The Siegel Group, a real estate investment and management firm, is the new owner of a 191-room hotel off of Orange Blossom Trail just north of Florida. We consider loan-to-value ratios of up to 65%. Refinances – unit owner must have Coop Stock. South Carolina; Horry County; North Myrtle Beach; Find a Home You'll Love. Homes are listed on the market for around $244,990, and are closing for about $173,400. Various Condotel Projects are popping up in Destin, South Beach, Panama City Beach, Palm Beach and Miami. Rock Hill, South Carolina 42 contributions 22 helpful votes. Main Office: 1320 Airlie Road | Wilmington, NC 28403 910. Browse photos, see new properties, get open house info, and research neighborhoods on Trulia. All of these amenities are managed and operated directly by the complex — usually a reputable hotel chain. Our Mortgage Experts. Coral Beach Bldg. South Carolina Beachfront Real Estate For Sale currently has ninety (90) for sale on MLS. If you need a Condo Hotel purchase mortgage loan or a Condo Hotel refinance mortgage loan, please contact us at Gustan Cho Associates at 1-800-900-8569 or text us for a faster. A condotel essentially is a condo that can be rented either by the night, the week, the month or multiple months, and is similar to that of a resort as the building has a front desk where people can walk up to book or rent a unit. Step 2: Follow the Condo Project Review Type Requirements. The minimum down payment is 3. Condo Hotels are very popular in the state of Florida. On the beach, there is a service for chair/umbrella rental. 114. Get your loan solution in 30 minutes! Choose a program, calculate, or get your personal offer! Programs Loan Calculator Scenario Request Condominiums, often. Step 3: Confirm the Condo Project Insurance Requirements. Or email gcho@gustancho. 0. Owner Financing - Myrtle Beach, SC Home for Sale. Source: acmg. Condotel loans are a specific type of mortgage loan for condotel units, which are a mixture of a condo and a hotel. A 10% down. Many units are operated with hotel-like amenities including a front desk, activities-concierge services, and regular housekeeping service. )We can be contacted several ways to help answer any questions you may have: Call us at toll free at 888 259 2257. Condotels at Surfmaster: Surfmaster- ROOM 412 is the BEST! - See 13 traveler reviews, 8 candid photos, and great deals for Condotels at Surfmaster at Tripadvisor. Buying this sort of property is close to buying a traditional condo. 00:00. other documentations. 256. HomeBridge announces more relaxed guidelines for CONDOTEL financing in South Carolina!In response to the June 2021 collapse of an oceanfront tower near Miami, mortgage giants Fannie Mae and Freddie Mac are rolling out new rules covering condo loans – and. Note: Easy Street Capital’s current minimum loan amount is $75,000 for a DSCR Loan. Grand Strand Coastal Realty. This condo comes fully furnished and offers fantastic upgrades throughout. Once received, we will review your credit profile. View Hotel. Conway, South Carolina 590 contributions 307 helpful votes. com. Therefore, they should work to earn your business. Get ongoing access to funds with a home equity line of credit by itself or combined with a first mortgage. Orlando’s newest condo hotel is minutes from Disney’s theme parks and numerous other attractions. It’s complicated (but we can make it easy for you). 3763 Sweetgum St Unit 3763, Myrtle Beach, SC Details ». 2. In Part 2 of our blog series on condominiums and condotel financing, we explored the exciting investment potential of condotels. Located at 1105 South Ocean Boulevard in Myrtle Beach South Carolina, Coral Beach offers easy access to all the major attractions in the area. Florida CONDOTEL Financing. CCNB offers special rates and terms specifically for condotels that include fixed or adjustable rates with as little as 25% down on second homes and 30% down on investor. Non-Prime Bank Statement Mortgages For Self-Employed Borrowers. A condotel operates just like a hotel and hosts short-term guests. Low rates and flexible payment terms come standard with all South Carolina Federal auto loans. The condo can even be 5 miles from the “check-in desk”. Nationwide Mortgage & Realty, LLC. For current trends in South Carolina’s real estate investment market, visit Zillow or Trulia. The team at Gustan Cho Associates are specialists in condotel financing in Florida and California as well. We now offer Condotel and Non-Warrantable Condo Financing which are portfolio loans with 25% down payment. No Income Verification, No Tax Returns. Projects that have no other condotel characteristics, but which permit unit owners to offer short-term rentals on a seasonal basis while they reside in the units. A condotel is just what it sounds like—a cross between a condominium and a hotel. Please contact us at (786) 220-1100 to set up your free consultation. 25% down payment, 75% loan to value, is required for primary and second condotel unit buyers. Listing courtesy of Listing Agent: Michele Blase () from Listing Office: Realty ONE Group Dockside. 2br - 1100ft² - Condo for sale in Little River, South Carolina. We specialize in Condo Loans Financing for Warranted Condo Loans, Non-Warranted Condo Loans, Condotel Condo Loans, Primary Condo Loans and DSCR investment Condo loans for long and short term rentals. The minimum loan amount must be 10000$. For monthly updates on current listings and new closed sales, sign up for our Myrtle Beach Downtown Oceanfront Condos Real Estate News, one of the 50 versions of our e-newsletter. Up to 75% LTV on bridge loan loan amounts between $1,000,000 to $1,500,000. Free Wifi. South Carolina gives tax breaks to certain people, but only as primary residents. The following are the criteria in which properties would be allowed for condotel financing: The units need to have a full kitchen and a separate bedroom. Get the latest updates on our loan solutions, webinars, tradeshows, events, and. Our mortgage lenders will gladly review your unique situation and find a flexible solution that best fits your lifestyle. South Carolina (SC) Coastal South Carolina ; Garden City Beach ; Garden City Beach Specialty Lodging ; Apartment Hotels in Garden City Beach ;. Or email us at gcho@gustancho. Condotels at One Ocean Place: One Ocean Place, Room 203 - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Typically, a minimum down payment of 20% will be required. Here’s how to get your score: Complete the form below. A condohotel, or a condo hotel as it is also called, is a unique type of residential and rental property. Check NC real-estate inventory, browse property photos, and get listing information at realtor. Since we are private lenders, you will notice that terms and conditions. Owners of condotel. 1696 Fax: 603. Step 1: Determine a Condo Project Review Type. 2 bedrooms. Minimum FICO 680. 75% of a refinance mortgage on a manufactured home. are experts in condotel financing and originating non-warrantable condominium mortgages, condohotel loans and The Best Condotel Mortgage Lender. We consider loan-to-value ratios of up to 65%. com or visit us at Gustan Cho NMLS 873293 is the National Managing Director of NEXA Mortgage, LLC dba as Gustan Cho Associates NMLS. A Condo-Hotel, also known as a Condotel, can be a great investment for those who are looking for vacation second homes; Investment condotel units are also gaining popularity due to the comeback of condotel financing Condotel unit buyers and commercial real estate investors who have any questions on Condotel Financing and/or commercial loans, please contact us at 800-900-8569 or text us for a faster response. Restaurants near Condotels at One Ocean Place, Garden City Beach on Tripadvisor: Find traveler reviews and candid photos of dining near Condotels at One Ocean Place in Garden City Beach, South Carolina. He holds a Bachelor’s in Journalism and Mass Communications from the University of South Carolina. Investment property loans Commercial & Residential Condo Hotel Loans. A condotel is a combination of a condominium and a hotel and is a unique type of property ownership. State. If you think that condotel ownership may be for you, we can help you apply for competitive condotel financing in Miami or the surrounding region. Jerry Pinkas Real Estate Experts, Inc . Encompassing six buildings with 380 units, this contemporary property includes amazing…. 1 bath 400 sq ft 201 74th Ave N #2636, Myrtle Beach, SC 29572 (843) 492-4030 Owner Financing - Myrtle Beach, SC Home for Sale OWNER FINANCING AVAILABLE!!!!! No. Condotel. South Carolina. Home buyers interested in purchasing a condotel unit or non-warrantable condominium in Florida, please contact me at 800-900-8569 or text us for faster response. Few banks offer mortgages for non-warrantable condos and condotels, but there are banks which do. A list of local lenders and contacts who can provide traditional financing for condos and condotels in South Carolina, based on the type of loan and the characteristics of the property. Regarding Condotel or Non-Warrantable Condos, the lender will generally hold onto these loans. Skip the content. A condotel is a building that’s legally operating as a condominium but also functions as a hotel. Tel: 844-953-0100 Email: info@nationwidemtg. SEARCH OUR SITE. A condo hotel (condotel) is a perfect way to buy a luxury holiday home without the conventional problems in ownership, such as upkeep of the property and attracting tenants while you’re not using it. Homeowners who own a personal residence, the new Condo-Hotel unit can be classified as a second home which requires 25% down payment. 5 Baths 2862 SqFt. The units are […] Project Standards Requirements - Condotels. Coral Beach is an award winning oceanfront resort with excellent rental income! This oceanfront one bedroom has. Reed is the Principal of Myers Capital, a twenty-year old mortgage lending company located in downtown Honolulu, Hawaii and Greenville, South Carolina. New Changes To Condo Lending as of Dec 7th, 2020. First Home Equity Loans is a resource for many different loan types for investors, including Condotel Financing. Qualification based on Property Income, Not Your Income. 550 sq ft. Loan Amount Range: From $100k up to $4 million. 1 bed. South Carolina. The major difference between a condo and a condotel is that short term, nightly rentals are available in the latter. Up to 103 LPC Non-Owner Occupied. Listen to this article 3 min. City. (DSCR is always expressed as a decimal. info. Condotels at One Ocean Place: Rude security and pool attendant, large condo- very outdated - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Flood Insurance Coverage Calculator. No Need For Traditional Condotel Financing Hassles! Direct Oceanfront Full 1 bdrm, 2 Queen Beds Plus Murphy. Minimum Down Payment: 30%. Unlike Fannie Mae and Freddie Mac, Condotel, and. Condo For Sale In Myrtle Beach, South Carolina. Condotel purchase on the beach - Myrtle Beach User Name: Remember Me: Password : Myrtle Beach - Conway area Horry County Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. Print . Navigating financing challenges in condotel investments requires creativity, diligence, and a thorough understanding of the market. After 15 years, the unit owners will have the option to individually lease it to others or live in it. You can potentially have quite a bit of money left over for the things that make a house comfortable and specific to your vision. Type Full Name Below: *. Sea Mist Direct Oceanfront condo Efficiency. By this, you need to get an expert in this business who can help you with the bit of financing for this business. Condotels at One Ocean Place, Garden City Beach: See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place, ranked #2 of 10 specialty lodging in Garden City Beach and rated 4 of 5 at Tripadvisor. But what is a condominium hotel or condotel? A condo-hotel is a new trend in the Myrtle Beach condo market. If you have any questions on second home mortgage loans please contact us at 800-900-8569 or text us for a faster response. At times in 2022 and 2023. 1. Second-home financing requires a 10% down payment. Typically, each of the units within a condotel is sold to an individual owner. We offer 3/1 ARM, 5/1 ARM, and 7/1 ARM Condo Hotel Mortgage Loan Programs, amortized over 30 years. The team at Gustan Cho Associates is available 7 days a week, on evenings, weekends, and holidays. The HOA will have to have hurricane (also known in SC as wind & hail), traditional hazard (fire usually), and flood insurances. 1040 South Federal Highway, Hollywood, FL 33020. Condotel loans are. Condotels at One Ocean Place: Great view, Great accommodations - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Assisted Lendings is a group of professional business people joining together to offer investor cashflow financing. To qualify for condominium mortgage loans, please contact us at Gustan Cho Associates Mortgage Group at 800-900-8569 or text us for a faster response. 7100 N Ocean Blvd #1126, Myrtle Beach, SC 29572. Auto Loans. Individual owners have units, but they have. Condotel Financing Mortgage Guidelines And RequirementsFinancing options for condotel investment include bank loans, developer financing, and cash payments. Gena: We’re using the term “condotel” to include a broad group of properties which typically have one or more “Hotel” type characteristics. A “condotel” is a portmanteau of “condominium” and “hotel. Condo For Sale In Myrtle Beach, South Carolina. Condo for Sale in Myrtle Beach, SC: Nestled in the heart of Carolina Forest, this charming 3 bedroom 2 bathroom condo offers the perfect blend of coastal living and modern comfort. second year in a row here !!! The owners of this Condo 702 have went overboard to make your stay enjoyable and better than your own home. The condotel will be operated for 15 years. Special offer. recent paycheck stubs. 4 - 8 Guests 2 - 3 Bedrooms 2 - 3 Bathrooms. Investment home financing on a single-family home requires a 15% down payment. 3 miles from Condotels at One Ocean Place. South Carolina (SC) Coastal South Carolina ; Garden City Beach ; Garden City Beach Specialty Lodging ; Apartment Hotels in Garden City Beach ;. A condo insurance policy protects what your homeowners association (HOA) doesn’t. Call ☎ (800) 697-4371Condotels at One Ocean Place: Beautiful Place ! - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. 32 days on Zillow. Contact Gustan Cho Associates at 800-900-8569 or text for faster response. Find oceanfront condos for sale in Myrtle Beach, SC like a real estate agent! Exclusive access to condominium listings near the ocean in Myrtle Beach, South Carolina!Lending Bankers Mortgage Specializes in Condotel Loans in South Florida. - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. It offers short-term rentals for occupants, and it also maintains a front desk. Condotels at One Ocean Place: Very nice condo building. Balloon payment due in 6 months with. More finance insights;. Free parking. CONDOTEL. Gustan Cho. Highlights of our non-warrantable condo loan offering include: Purchase or Refinance; High loan-to-value (LTV) financing and loan limits; Choose between fixed and adjustable rate options; Flexible. Atlantic Beach currently faces one of the highest tax rates in Horry County. Alpha Mortgage is licensed in North Carolina (L-113831), Virginia – Licensed by Virginia State Corporation Commission (MC-4927), South Carolina (#93265), Florida (MLD1700), Georgia (#93265), and licensed in Texas – SML Mortgage Banker Registration. Campobello, South Carolina 1 contribution 1 helpful vote. Multifamily 5 to 8 Units Financing. It refers to a type of property that combines elements of both condominiums and hotels. * * OPEN HOUSE THIS SUNDAY NOVEMBER 5TH FROM 12PM TO 2PM * * Seller is offering Owner Financing rates and terms, please contact your agent for more details! If they are purchasing a condotel unit, it is considered investment property condotel units; On investment property condotels, 40% down payment is required and/or 60% LTV on refinance condotel mortgages; For more questions on Florida Condo Hotel Mortgage Loans, contact us at Gustan Cho Associates at 800-900-8569 or text us for faster response. Condotel Financing Debt Guidelines Require 25% down bezahlen, 680 FICO, 43% debt the earned ratios for first and second condotel units. Industry-leading Bank Statement Program. The down payment requirements are significantly lower on second home financing versus conventional investment home financing. The Team at Lending Network, LLC Is Available Seven Days a Week, Evenings, Weekends, and Holidays. Currently, the condotel purchase market in South Beach, Panama. As an investment owner, you are not a primary resident. You can email us at gcho@gustancho. Condotels at One Ocean Place: Never Again! - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. As you can see from our program highlights, Allied First Bank of The Carolinas specializes in providing condotel financing solutions. Home Spring Mortgage offers non-QM condotel loans with. A condotel is an entire complex, which means that if one (or more) of the units are not maintained properly, it can reflect poorly on the rest of them and bring property values down. A 25% down payment is required on condotel second homes. com. (843) 903-3550. . About Us. Sun everyday, beautiful Condo North 702. Condotel Financing Florida Mortgage Rates; Today's Condotel Florida Mortgage Rates; Live Condotel Mortgage Rates. Look for oceanfront villas, condos, townhomes and condo hotels including luxury condos in places like Myrtle Beach, SC; Cocoa Beach, FL; Oak Island, NC and more. General - FAQs. The loan to value is 97. Any apartment may be held and owned by more than one person as tenants in common or in any other real estate tenancy relationship recognized under the laws of this State. Minimum loan amounts commonly fall in the range of $75,000 to $150,000 for most lenders. 575 or greater credit scores. Condo and condotel financing list. Senior homeowners may qualify for a homestead exemption that allows the first $50,000. If you are frustrated and have been searching for the best Myrtle Beach mortgage companies, Jerry Pinkas Real Estate Experts has many local connections and some of the best options for home financing. $101,000. Navigating financing challenges in condotel investments requires creativity, diligence, and a thorough understanding of the market. . Make sure that the management and. If you are looking in Charleston County, the average price soars up to $505,000. 91% for a 30-year fixed mortgage and 7. Portfolio Financing for Condos and Condotels. As far as the technical difference goes, if there’s a nightly rent and there’s a check-in desk, it’s a condotel. (3) "Listing agent" means a real estate licensee who represents. Inquiries. A new modern luxury condo hotel is now being offered on the tree-lined shores of serene Lake Austin, with access to a local resort with…. Ripley's Aquarium of Myrtle Beach. 1 bedrooms. CONDO FINANCING. Brokered by Better Homes and Gardens Real Estate Elliott Coastal Living. CCNB offers special rates and terms specifically for condotels that include fixed or adjustable rates with as little as 25% down on second homes and 30% down on investor properties for qualified buyers. We can offer both warrantable and non-warrantable condo financing. com®. A condotel is a combination of a condominium and a hotel and is a unique type of property ownership. 5 million as a primary or second home. This process is known as a Non-QM or Portfolio Loan. Borrowers can also email us at gcho@gustancho. Text us for a faster response. Beaufort, Beaufort County, SC . If you’re submitting a credit card application electronically via this inquiry form, please leave that field blank and a CCNB representative will contact you once they’re in receipt. $639,900. on 47 acres between 29th and 32nd avenues south,. com®. The minimum loan amount for DSCR Loans is going to vary by lender. This rented condominium is situated on the Garden City Beach. South Carolina Condo Hotel Financing. Miami Beach Condo Mortgages. North Myrtle Beach, SC 29582. These units are designed for short-term rentals and offer amenities that rival those offered by five-star hotels. For most banks and financing groups, it can take over a week to consider and evaluate your application. A condo hotel, also known as a condotel, hotel condo, or a contel, is a building that is legally a condominium but operated as a hotel, offering short-term rentals, and which maintains a front desk. Condotels at One Ocean Place: Vacation - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. Address Line 1. Miami CONDOTEL Financing. - See 48 traveler reviews, 32 candid photos, and great deals for Condotels at One Ocean Place at Tripadvisor. I found Condotel Financing at competitive rates Types of Mortgages Available Principle & Interest Mortgage Options 30 yr 3/3 ARM @ up to 75% LTV (Lock for 3 Yrs. , A151 Myrtle Beach SC 29575 Listed By CENTURY 21 The Harrelson Group.