5012 Gulf Drive 1, Panama City Beach, FL 32408 (MLS# 783286)

5012 Gulf Drive 1, Panama City Beach, FL 32408

$475,000

Virtual Tour

https://www.zillow.com/view-3d-home/d029bba6-cfb8-4402-9ed6-1f214cb743d7/?utm_source=captureapp

Property Type: Residential Bedrooms: 3 Baths: 2 Square Footage: 935 Status: Active

Current Price: $475,000 List Date: 4/07/2026 Last Modified: 7/05/2026

Overview

Description

With ugrades this unit produces the best income compared to the other 3 units in this 4 plex. 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. All 4 units can be purchased together .The entire 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 … (Read more)

Listing Details MLS# 783286

Contract Info

List Price/SqFt: 508.02

Location

Area: 03 – Bay County – Beach
Street #: 5012
Street Name: Gulf
Street Suffix: Drive
Unit #: Yes
State: FL
Zip Code: 32408
County: Bay
Sub Area: 0323 – Beach – South of Grand Lagoon
Subdivision: Gulfside Condo.
Community/Resort: None
Waterfront: No
Parcel ID: 32256-010-000
Elementary School: Patronis
Middle School: Surfside
High School: Arnold
Directions: From the Navy Base area on Thomas Drive (also called Navy Blvd), continue south toward the beach. Stay on Thomas Drive until Huff Street near Schooners. Turn left on Huff Street, then right on Gulf Drive. 5012 Gulf Drive is a short distance ahead on the left, across from the beach.
Legal Description: GULFSIDE CONDO APT 1 ORB 494 P 370 2BR 2B 688 H&C ORB 4719 P 1841

General Property Info

Sub-Type: Condominium
Floor Number: Yes
Design: Low-Rise (1-3 floors)
Apx SqFt(Htd/Cooled): 935
SqFt Source: Owner Measured
Full Baths: 2
Total Baths: 2
# of Stories in Building: 2
Year Built: 1973
Construction Status: Construction Complete
New Construction: No
Garage Y/N: No
Lot Dimensions: 0x0
Pool: Yes
Pool Type: Community

Listing Info, Tax and Legal

HOA Fee: No
New Buyer Fee: No
Last Taxes: 738
Last Tax Year: 2024
Brokerage Interest: No Interest
Condo Doc: Yes

Remarks & Misc

Remarks: With ugrades this unit produces the best income compared to the other 3 units in this 4 plex. 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. All 4 units can be purchased together .The entire 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. Currently Units #1, #2#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.

Bunk Room

First: Yes

More Information

Appliances

Dishwasher: Yes
Microwave: Yes
Range – Electric: Yes
Washer/Dryer Stacked: Yes
Water Heater – Electric: Yes

Interior Features

Floor – Vinyl Plank: Yes
Window – Treatment All: Yes

Construction/Siding

Foundation – Slab on Grade: Yes
Roof – Metal: Yes
Siding – Stucco: Yes

Exterior

Balcony: Yes
Patio Covered: Yes
Patio Open: Yes
Porch Covered: Yes

Financing

Cash: Yes
Conventional: Yes

Furnished

Furnished: Yes

Kitchen

First: Yes

Living Room

First: Yes

Lot Features

Dead End: Yes
Easements: Yes
Near Beach Access: Yes
Within 1/2 Mile to Water: Yes

Lot Access

Paved Road: Yes

Parking Features

Additional Parking: Yes
Paved: Yes

Association Amenities

Pool: Yes

Rooms

Bedroom: Yes
Bunk Room: Yes
Full Bathroom: Yes
Kitchen: Yes
Living Room: Yes
Primary Bathroom: Yes
Primary Bedroom: Yes

Showing

ShowingTime: Yes

Utilities

Electricity – Connected: Yes
Public Sewer – Connected: Yes
Public Water – Connected: Yes

Waterview

Gulf: Yes

Sale Type

As Is: Yes

Full Bathroom

First: Yes

Primary Bedroom

First: Yes

Bedroom

First: Yes

Cooling

Central Air: Yes
Electric: Yes

Heating

Central: Yes
Electric: Yes

Primary Bathroom

First: Yes

Property Features

Appliances: Dishwasher; Microwave; Range – Electric; Washer/Dryer Stacked; Water Heater – Electric Full Bathroom: First Primary Bedroom: First Bedroom: First Cooling: Central Air; Electric Heating: Central; Electric Exterior: Balcony; Patio Covered; Patio Open; Porch Covered Financing: Cash; Conventional Furnished: Furnished Kitchen: First Living Room: First Lot Features: Dead End; Easements; Near Beach Access; Within 1/2 Mile to Water Lot Access: Paved Road Bunk Room: First Primary Bathroom: First Parking Features: Additional Parking; Paved Association Amenities: Pool Rooms: Bedroom; Bunk Room; Full Bathroom; Kitchen; Living Room; Primary Bathroom; Primary Bedroom Sale Type: As Is Showing: ShowingTime Utilities: Electricity – Connected; Public Sewer – Connected; Public Water – Connected Waterview: Gulf

Room Information

Room Name	Level	Dimensions	Length	Width
Living Room	First	14.5 x 11.5	14.50	11.50
Kitchen	First	14 x 11.5	14.00	11.50
Bedroom	First	13 x 11	13.00	11.00
Full Bathroom	First	8.5 x 6.5	8.50	6.50
Primary Bedroom	First	11 x 10.5	11.00	10.50
Primary Bathroom	First	5.5 x 6	5.50	6.00
Bunk Room	First	6 x 11	6.00	11.00

Listing Office: LPT Realty LLC

Last Updated: July – 05 – 2026

Information deemed reliable but not guaranteed.