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5004 Thomas Drive 2304
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PRICED AT ONLY: $615,000

Address: 5004 Thomas Drive 2304, Panama City Beach, FL 32408

Description

***OPEN HOUSE! Sat, Dec 6, 10am 1pm*** Penthouse Perfection at Treasure Island in East PCB! In a market where condo financials are often the biggest question mark, Treasure Island offers a rare level of confidence. This complex stands out with fully funded reserves, passed inspections, and a track record of ZERO special assessments in at least the five years of the seller's ownership. The association is actually considering an HOA dues DECREASE as a result of the fantastic management and recent insurance reduction. Additionally, new high speed elevator installation is underway and the cost is already fully covered by the current budget. This isn't just a condo; it is an investment that makes as much sense on a spreadsheet as it does in your heart :) As you enter, you'll encounter a fully revitalized interior that is ready for immediate enjoyment. The unit shines with fresh paint and brand new coastal furnishings that perfectly capture the relaxed beach atmosphere. You will appreciate the durability and cleanliness of having tile flooring throughout (no carpet!). It has been a pet friendly unit but it's so clean you wouldn't even know it. The bathrooms have been updated with stylish new vanities and even have special pull knobs to accent the beachy vibe. There are built in bunks behind the dining area that have cute porthole decor and give the unit more sleeping space in addition to the two spacious bedrooms. The kitchen features a new white refrigerator and built in microwave. Plus there's a new washer/dryer and HVAC system for year round comfort and peace of mind. The current owners have been incredibly happy with the complex, praising the onsite rental management and the proactive Board of Directors for making ownership easy and profitable. It is a proven performer, grossing $45k in rental income in 2025. It has potential to be even stronger, but the owners have wanted to enjoy the unit themselves as well. And who could blame them with a unit like this! The complex is pet friendly for owners and also allows renters to bring one dog under 30lbs, a rare feature that significantly boosts rental demand. Complete with an assigned covered parking spot and located next to Schooners Restaurant on one side and St. Andrews State Park on the other, this is the total package. Whether you are looking for a primary residence, vacation getaway, or a high performing investment, this penthouse is ready for you. Schedule your showing today a video tour is also available

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More Like This
  • MLS#: 782127 ( Residential )
  • Street Address: 5004 Thomas Drive 2304
  • Viewed: 5
  • Price: $615,000
  • Price sqft: $449
  • Waterfront: Yes
  • Wateraccess: Yes
  • Waterfront Type: ShorelineSand
  • Year Built: 2005
  • Bldg sqft: 1370
  • Bedrooms: 2
  • Total Baths: 2
  • Full Baths: 2
  • Garage / Parking Spaces: 1
  • Days On Market: 8

Description

***OPEN HOUSE! Sat, Dec 6, 10am 1pm*** Penthouse Perfection at Treasure Island in East PCB! In a market where condo financials are often the biggest question mark, Treasure Island offers a rare level of confidence. This complex stands out with fully funded reserves, passed inspections, and a track record of ZERO special assessments in at least the five years of the seller's ownership. The association is actually considering an HOA dues DECREASE as a result of the fantastic management and recent insurance reduction. Additionally, new high speed elevator installation is underway and the cost is already fully covered by the current budget. This isn't just a condo; it is an investment that makes as much sense on a spreadsheet as it does in your heart :) As you enter, you'll encounter a fully revitalized interior that is ready for immediate enjoyment. The unit shines with fresh paint and brand new coastal furnishings that perfectly capture the relaxed beach atmosphere. You will appreciate the durability and cleanliness of having tile flooring throughout (no carpet!). It has been a pet friendly unit but it's so clean you wouldn't even know it. The bathrooms have been updated with stylish new vanities and even have special pull knobs to accent the beachy vibe. There are built in bunks behind the dining area that have cute porthole decor and give the unit more sleeping space in addition to the two spacious bedrooms. The kitchen features a new white refrigerator and built in microwave. Plus there's a new washer/dryer and HVAC system for year round comfort and peace of mind. The current owners have been incredibly happy with the complex, praising the onsite rental management and the proactive Board of Directors for making ownership easy and profitable. It is a proven performer, grossing $45k in rental income in 2025. It has potential to be even stronger, but the owners have wanted to enjoy the unit themselves as well. And who could blame them with a unit like this! The complex is pet friendly for owners and also allows renters to bring one dog under 30lbs, a rare feature that significantly boosts rental demand. Complete with an assigned covered parking spot and located next to Schooners Restaurant on one side and St. Andrews State Park on the other, this is the total package. Whether you are looking for a primary residence, vacation getaway, or a high performing investment, this penthouse is ready for you. Schedule your showing today a video tour is also available
Request More Information
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Features
Building and Construction
  • Covered Spaces: 0.00
  • Living Area: 0.00
Land Information
  • Lot Features: Paved
School Information
  • High School: Arnold
  • Middle School: Surfside
  • School Elementary: Patronis
Garage and Parking
  • Garage Spaces: 1.00
  • Open Parking Spaces: 0.00
  • Parking Features: AdditionalParking
Eco-Communities
  • Pool Features: InGround, Community
Utilities
  • Carport Spaces: 0.00
  • Cooling: CentralAir, CeilingFans
  • Heating: Central
  • Sewer: PublicSewer
  • Utilities: CableConnected, HighSpeedInternetAvailable
Amenities
  • Association Amenities: BeachRights, Barbecue
Finance and Tax Information
  • Home Owners Association Fee: 0.00
  • Insurance Expense: 0.00
  • Net Operating Income: 0.00
  • Other Expense: 0.00
  • Pet Deposit: 0.00
  • Security Deposit: 0.00
  • Tax Year: 2024
  • Trash Expense: 0.00
Other Features
  • Appliances: ElectricOven, ElectricWaterHeater
  • Legal Description: TREASURE ISLAND RESORT, A CONDO UNIT 2304 TYPE B ORB 2633 P 1849 2BR/2BA ORB 4646 P 2229 1370 H&C
  • Area Major: 03 - Bay County - Beach
  • Occupant Type: Tenant
  • Parcel Number: 31437-355-000
  • Style: HighRise
  • The Range: 0.00
  • Unit Number: 2304
  • View: Gulf
Nearby Subdivisions
[no Recorded Subdiv]   Bay Point Golf Villas I   Bay Point Golf Villas Ii   Bay Point Golf Villas Iii   Bay Point Grand Residences   Bay Point Harbour Villas   Bay Point Studio Villas Unit 2   Bay Point Studio Villas Unit 3   Boardwalk Central   Bonita Point   Dockside North   Dunes Of Panama Phase V   Emerald Pointe Resort   En Soleil Condo   Grand Lagoon Cove Condominium   Grande Surf Club Condo   Greenwood Estates 1   Greenwood Estates 5   Greenwood Estates 6   Greenwood Estates 7   Gulf Crest Condo   Holiday Point   Laketown Wharf   Laketown Wharf Phase Ii   Magnolia Bay Club   Marina Club Village   Mariner West Condo   Merrimac Resort Condo Ph 1   Moondrifter   Moonspinner Apartments   Ocean Terr. Condo.   Palisades Condo Ph 1   Plazas Of St.thomas I   Princess Condo   Reflections   Regency Towers   Sand Castles Villa   Seychelles Resort Condominium   Shade Tree Condo Ph Ii   Shores Of Panama   Shores Of Panama Phase I   Shores Of Panama Phase Ii   Sterling Beach Condo   Stingray Condo.   Sugar Beach Condo   Summerhouse Condo.   Summerhouse Of P.c. 1   Summit   Sun Seeker Condo   Sunbird Condo   Sunshine Shores Condo   Sunswept 3   The Commodore   The Summerhouse Of P.c. I   The Summit   Top Of The Gulf Condo.   Treasure Cove Condo.   Treasure Island Resort   Villas At Suncrest   Villas Of St. Thomas 1   Villas Of St. Thomas 3   Villas Of St. Thomas 5   Watercrest Condo   Waterhaven   Whispering Seas  
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