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5115 Gulf Drive 404
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PRICED AT ONLY: $385,000

Address: 5115 Gulf Drive 404, Panama City Beach, FL 32408

Description

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. 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.

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More Like This
  • MLS#: 789478 ( Residential )
  • Street Address: 5115 Gulf Drive 404
  • Viewed: 24
  • Price: $385,000
  • Price sqft: $436
  • Waterfront: Yes
  • Wateraccess: Yes
  • Waterfront Type: Gulf
  • Year Built: 2006
  • Bldg sqft: 883
  • Bedrooms: 1
  • Total Baths: 2
  • Full Baths: 2
  • Days On Market: 8

Description

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. 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.
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Features
Building and Construction
  • Covered Spaces: 0.00
  • Living Area: 0.00
School Information
  • High School: Arnold
  • Middle School: Surfside
  • School Elementary: Patronis
Garage and Parking
  • Garage Spaces: 0.00
  • Open Parking Spaces: 0.00
Eco-Communities
  • Pool Features: Community
Utilities
  • Carport Spaces: 0.00
  • Heating: Electric
  • Sewer: PublicSewer
  • Utilities: CableConnected, ElectricityAvailable
Amenities
  • Association Amenities: Other, SeeRemarks
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: 2025
  • Trash Expense: 0.00
Other Features
  • Appliances: ElectricOven, ElectricRange, ElectricWaterHeater
  • Legal Description: SEYCHELLES RESORT CONDOMINIUM UNIT 404 TYPE B ORB 2753 P 1936 1BR/BUNK/2BA ORB 4554 P 324 883 SQ.FT
  • Area Major: 03 - Bay County - Beach
  • Occupant Type: Tenant
  • Parcel Number: 31437-400-030
  • Style: HighRise
  • The Range: 0.00
  • Unit Number: 404
  • Views: 24
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   Coral Reef Condo   Dockside North   Dunes Of Panama Phase I   Dunes Of Panama Phase Iii   Dunes Of Panama Phase Iv   Dunes Of Panama Phase V   En Soleil Condo   Grand Lagoon Cove Condominium   Grande Surf Club Condo   Greenwood Estates 1   Greenwood Estates 5   Gulf Crest Condo   Gulfside Condo.   Hidden Dunes Condo   Hidden Lagoon   Laketown Wharf   Laketown Wharf Phase Ii   Largo Mar Condo   Legand Villas   Magnolia Bay Club   Magnolia Plantation   Marina Club Village   Mariner East Condo   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 Villa   Sand Castles Villas Condo   Seychelles Resort Condominium   Shade Tree Condo Ph Ii   Shade Tree Condo.   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   Sunswept 3   The Commodore   The Summit   Top Of The Gulf Condo.   Treasure Cove Condo.   Treasure Island   Treasure Island Resort   Venture Out Travel Trail   Villas Of St. Thomas 1   Villas Of St. Thomas 3   Villas Of St. Thomas 5   Watercrest Condo   Waterhaven  
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