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5115 Gulf Drive, Unit 404
Panama City Beach, FL 32408

$385,000 - Status: Active Under Contract

Beds: 1

Baths: 2 full

SQFT (H&C): 883

MLS# 789478

CURRENTLY UNDER CONTRACT, SELLER WILL CONSIDER BACKUP OFFERS. 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.

Property Features

MLS#: 789478

Zip: 32408

Subdivision: Seychelles Resort Condominium

Development: 0323 - Beach - South Of Grand Lagoon

Property Type: Residential - Condominium

Days on Site: 100

Heating: Electric

Home Style: High Rise

Taxes: $4,023

Year Built: 2006

SQFT (H&C): 883

Feature Descriptions

Appliances: Electric Oven, Electric Range, Electric Water Heater

Association Amenities: Other, See Remarks

Community Features: Clubhouse, Elevator, Pool, Waterfront, Community Pool, Short Term Rental Allowed

Exterior: Concrete

HOA Fee: $2372 Quarterly

Interior Features: Main Level Primary

Parcel#: 31437-400-030

Patio/Porch: Balcony

Pool: Community

Sewer: Public Sewer

Utilities: Cable Connected, Electricity Available

Waterfront: Gulf

Room Sizes

Primary Bedroom: 12 X 10 Level - First

Local Schools

High School: Arnold

Middle School: Surfside

Elementary School: Patronis

5115 Gulf Drive, Unit 404 | MLS# 789478

This condo located at 5115 Gulf Drive, Unit 404, Panama City Beach, FL 32408 is currently listed for sale with an asking price of $385,000. This property was built in 2006 and has 1 bedrooms and 2 full baths with 883 sq. ft. Gulf Drive, Unit 404 is located in the Seychelles Resort Condominium subdivision. Search Seychelles Resort Condominium real estate on jasbell.beachybeach.com today.

Listed By / Shown By

Listed By

Agency Name: Berkshire Hathaway HomeServices Beach Properties of Florida

Shown By

Agent Name: Norm and Jodi Asbell
Agent Phone: (702) 596-8264
Agency Title: Beachy Beach Real Estate

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5115 Gulf Drive, Unit 404Panama City Beach, FL 32408