5115 Gulf Drive 404, Panama City Beach, FL 32408 (MLS# 789478)

HOA Fee: Yes

HOA Amount: 2372.28

HOA Frequency: Quarterly

HOA Annual Amount: 9489.12

New Buyer Fee: No

Last Taxes: 4023

Last Tax Year: 2025

Brokerage Interest: No Interest

Condo Doc: Yes

List Price/SqFt: 436.01

Status: Active

List Date: 2026-05-06

List Price: $385,000

Current Price: $385,000

Unit #: 404

Sub Area: 0323 - Beach - South of Grand Lagoon

Community/Resort: None

Waterfront: Yes

Gulf Access: Yes

Elementary School: Patronis

Middle School: Surfside

High School: Arnold

Directions: Thomas drive to 5115 Gulf Drive located next to Schooners.

Area: 03 - Bay County - Beach

Street #: 5115

Street Name: Gulf

Street Suffix: Drive

State: FL

Zip Code: 32408

County: Bay

Subdivision: Seychelles Resort Condominium

Parcel ID: 31437-400-030

Legal Description: SEYCHELLES RESORT CONDOMINIUM UNIT 404 TYPE B ORB 2753 P 1936 1BR/BUNK/2BA ORB 4554 P 324 883 SQ.FT

Floor Number: 4

Design: High-Rise (8+ floors)

Apx SqFt(Htd/Cooled): 883

Construction Status: Construction Complete

SqFt Source: Prop App Site

Lot Dimensions: Condo

New Construction: No

Garage Y/N: No

Pool: Yes

Pool Type: Community

Sub-Type: Condominium

Bedrooms: 1

Full Baths: 2

Total Baths: 2

Year Built: 2006

Remarks: There is no other gulf-front building in Panama City Beach where your electric bill is zero. Seychelles is it. Unit 404 sits on the fourth floor with a direct gulf view -- water straight ahead from the living room and the bedroom. One bedroom, two full baths, and hallway bunks that sleep the whole group. Fully furnished and move-in ready. Here's what makes Seychelles different from every other building on this beach: electricity is included in the HOA fee. Not water. Not trash. Electric. That means no summer AC bill, no winter heating bill, no utility surprise -- ever. For a vacation home owner, that's simplicity. For an investor running short-term rentals, that's a cost structure no comparable can match. The unit was completely refreshed in 2024 -- new furniture, new mattresses, new ceiling fans, fresh paint throughout, new dishwasher, new washer and dryer. It's in excellent showing condition and produced $32,000 in rental income in 2025 with the existing management program through Best Beach Getaways. Total annual carry: approximately $14,117 (HOA $9,489 · taxes $3,862 · insurance $667 · AC service $99). Everything else is income or enjoyment.

Dishwasher: 1

Disposal: 1

Dryer: 1

Microwave: 1

Oven - Electric: 1

Range - Electric: 1

Water Heater - Electric: 1

Ceiling - Raised: 1

Floor - Tile: 1

Concrete: 1

Balcony: 1

Electricity: 1

Master Association: 1

Sewer: 1

Trash Disposal: 1

TV Cable: 1

Water: 1

Furnished: 1

Waterfront: 1

Community Room: 1

Elevators: 1

Pool: 1

Waterfront: 1

Other - See Remarks: 1

Master Bedroom: 1

ShowingTime: 1

TV Cable: 1

Electricity - Connected: 1

Public Sewer - Connected: 1

Gulf: 1

First: 1

Electric: 1

Electric: 1