5012 Gulf Drive 1, Panama City Beach, FL 32408 (MLS# 783286)

List Price/SqFt: 454.55

Status: Active

List Date: 2026-01-06

List Price: $425,000

Current Price: $425,000

Unit #: 1

Sub Area: 0323 - Beach - South of Grand Lagoon

Community/Resort: None

Waterfront: No

Elementary School: Patronis

Middle School: Surfside

High School: Arnold

Directions: From the Navy Base area on Thomas Drive (also called Navy Blvd), continue south toward the beach. Stay on Thomas Drive until Huff Street near Schooners. Turn left on Huff Street, then right on Gulf Drive. 5012 Gulf Drive is a short distance ahead on the left, across from the beach.

Area: 03 - Bay County - Beach

Street #: 5012

Street Name: Gulf

Street Suffix: Drive

State: FL

Zip Code: 32408

County: Bay

Subdivision: Gulfside Condo.

Parcel ID: 32256-010-000

Legal Description: GULFSIDE CONDO APT 1 ORB 494 P 370 2BR 2B 688 H&C ORB 4719 P 1841

Floor Number: 1

Design: Low-Rise (1-3 floors)

Apx SqFt(Htd/Cooled): 935

Construction Status: Construction Complete

SqFt Source: Owner Measured

# of Stories in Building: 2

Lot Dimensions: 0x0

New Construction: No

Garage Y/N: No

Pool: Yes

Pool Type: Community

Sub-Type: Condominium

Bedrooms: 3

Full Baths: 2

Total Baths: 2

Year Built: 1973

HOA Fee: No

New Buyer Fee: No

Last Taxes: 738

Last Tax Year: 2024

Brokerage Interest: No Interest

Condo Doc: Yes

Remarks: NOW BACK ON MARKET AT NO FAULT TO THE SELLER - New Property Video & 3D Home Tour! Rare opportunity to own a ground-floor 3 bedroom, 2 bath beachside condo at the end of a cul-de-sac with no thru traffic, located directly across from an extra-wide, paved public beach access and within walking distance to a few restaurants including Schooners. Simply walk out your front door and you're less than 60 feet from the beach, making this unit extremely attractive for short-term rentals and personal use alike. The unit features updated LVP flooring with upgraded rubber backing, a functional layout, and durable finishes designed for low-maintenance ownership. The building has seen major improvements including all-brick construction with dual layers of elastomeric stucco and paint, a 2024 standing-seam metal roof, updated windows and doors, and water heaters replaced in 2021. Owners enjoy a shared pool, no HOA, short-term rentals allowed, and two assigned parking spaces per unit. The owner currently has Units #1, #3, and #4 available, offering a unique chance for investors to acquire multiple units in the same small complex directly across from beach access. This is an opportunity that rarely comes available in this area at this price point. Ideal for investors looking to scale a beach rental portfolio in one location.

First: 1

Dishwasher: 1

Microwave: 1

Range - Electric: 1

Washer/Dryer Stacked: 1

Water Heater - Electric: 1

Floor - Vinyl Plank: 1

Window - Treatment All: 1

Foundation - Slab on Grade: 1

Roof - Metal: 1

Siding - Stucco: 1

Balcony: 1

Patio Covered: 1

Patio Open: 1

Porch Covered: 1

Cash: 1

Conventional: 1

Furnished: 1

First: 1

First: 1

Dead End: 1

Easements: 1

Near Beach Access: 1

Within 1/2 Mile to Water: 1

Paved Road: 1

Additional Parking: 1

Paved: 1

Pool: 1

Bedroom: 1

Bunk Room: 1

Full Bathroom: 1

Kitchen: 1

Living Room: 1

Primary Bathroom: 1

Primary Bedroom: 1

ShowingTime: 1

Electricity - Connected: 1

Public Sewer - Connected: 1

Public Water - Connected: 1

Gulf: 1

As Is: 1

First: 1

First: 1

First: 1

Central Air: 1

Electric: 1

Central: 1

Electric: 1

First: 1