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Wade M. Berlin

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5012 Gulf Drive 1
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PRICED AT ONLY: $499,900

Address: 5012 Gulf Drive 1, Panama City Beach, FL 32408

Description

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.

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  • MLS#: 783286 ( Residential )
  • Street Address: 5012 Gulf Drive 1
  • Viewed: 16
  • Price: $499,900
  • Price sqft: $535
  • Waterfront: Yes
  • Wateraccess: Yes
  • Year Built: 1973
  • Bldg sqft: 935
  • Bedrooms: 3
  • Total Baths: 2
  • Full Baths: 2
  • Days On Market: 82

Description

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.
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Features
Building and Construction
  • Covered Spaces: 0.00
  • Exterior Features: Patio
  • Flooring: LuxuryVinylPlank
  • Living Area: 0.00
  • Roof: Metal
Land Information
  • Lot Features: Paved
School Information
  • High School: Arnold
  • Middle School: Surfside
  • School Elementary: Patronis
Garage and Parking
  • Garage Spaces: 0.00
  • Open Parking Spaces: 0.00
  • Parking Features: AdditionalParking, Paved
Eco-Communities
  • Pool Features: Community
Utilities
  • Carport Spaces: 0.00
  • Cooling: CentralAir
  • Heating: Central, Electric
  • Sewer: PublicSewer
  • Utilities: ElectricityAvailable
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: WasherDryerStacked, ElectricRange, ElectricWaterHeater
  • Legal Description: GULFSIDE CONDO APT 1 ORB 494 P 370 2BR 2B 688 H&C ORB 4719 P 1841
  • Levels: Two
  • Area Major: 03 - Bay County - Beach
  • Occupant Type: Tenant
  • Parcel Number: 32256-010-000
  • Style: LowRise
  • The Range: 0.00
  • View: Gulf
  • Views: 16
Nearby Subdivisions
[no Recorded Subdiv]   Bay Point Golf Villas I   Bay Point Golf Villas Ii   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 Iii   Dunes Of Panama Phase Iv   Dunes Of Panama Phase V   Emerald Park Condominium   Grand Lagoon Cove Condominium   Grande Surf Club Condo   Greenwood Estates 5   Gulf Crest Condo   Gulfside Condo.   Hidden Dunes Condo   Holiday Point   Laketown Wharf   Laketown Wharf Phase Ii   Magnolia Bay Club   Marina Club Village   Mariner West Condo   Merrimac Resort Condo Ph 1   Moondrifter   No Named Subdivision   Palisades Condo Ph 1   Pelican Walk   Plazas Of St.thomas I   Princess Condo   Reflections   Regency Towers   Sand Castles Villas Condo   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.   Summit   Sunbird Condo   The Commodore   The Summit   Top Of The Gulf Condo.   Treasure Cove Condo.   Treasure Island Resort   Venture Out Travel Trail   Villas Of St. Thomas 3   Villas Of St. Thomas 5   Watercrest Condo   Waterhaven  
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