Bradenton Beach, FL
Property: Multi-Family Short-Term Rental
Deal Type: Cash-Out Refinance
Loan Amount: $680,700
The property is a one-story 5 unit multi-family short-term rental property that is fully furnished with nightly rentals. The property is located just south of the Tampa-St. Petersburg market in the Anna Maria Island sub-market which covers Bradenton Beach, Holmes Beach and Anna Maria; just across the street from the beach front. The cash-out proceeds were used to improve the collateral and purchase additional investment properties, and the broker was paid at closing.