5115 Gulf Drive 404, Panama City Beach, FL 32408 (MLS# 789478)

5115 Gulf Drive 404, Panama City Beach, FL 32408

$385,000

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Property Type: Residential Bedrooms: 1 Baths: 2 Square Footage: 883 Status: Active

Current Price: $385,000 List Date: 5/06/2026 Last Modified: 7/15/2026

Overview

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: approximat … (Read more)

Listing Details MLS# 789478

Contract Info

List Price/SqFt: 436.01

Location

Area: 03 – Bay County – Beach
Street #: 5115
Street Name: Gulf
Street Suffix: Drive
Unit #: 404
State: FL
Zip Code: 32408
County: Bay
Sub Area: 0323 – Beach – South of Grand Lagoon
Subdivision: Seychelles Resort Condominium
Community/Resort: None
Waterfront: Yes
Gulf Access: Yes
Parcel ID: 31437-400-030
Elementary School: Patronis
Middle School: Surfside
High School: Arnold
Directions: Thomas drive to 5115 Gulf Drive located next to Schooners.
Legal Description: SEYCHELLES RESORT CONDOMINIUM UNIT 404 TYPE B ORB 2753 P 1936 1BR/BUNK/2BA ORB 4554 P 324 883 SQ.FT

General Property Info

Sub-Type: Condominium
Floor Number: 4
Design: High-Rise (8+ floors)
Apx SqFt(Htd/Cooled): 883
SqFt Source: Prop App Site
Full Baths: 2
Total Baths: 2
Year Built: 2006
Construction Status: Construction Complete
New Construction: No
Garage Y/N: No
Lot Dimensions: Condo
Pool: Yes
Pool Type: Community

Listing Info, Tax and Legal

HOA Fee: Yes
HOA Amount: 2372.28
HOA Frequency: Quarterly
HOA Annual Amount: 9489.12
New Buyer Fee: No
Last Taxes: 4023
Last Tax Year: 2025
Brokerage Interest: No Interest
Condo Doc: Yes

Remarks & Misc

Remarks: 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.

Appliances

Dishwasher: Yes
Disposal: Yes
Dryer: Yes
Microwave: Yes
Oven – Electric: Yes
Range – Electric: Yes
Water Heater – Electric: Yes

More Information

Interior Features

Ceiling – Raised: Yes
Floor – Tile: Yes

Construction/Siding

Concrete: Yes

Exterior

Balcony: Yes

Association Fees Include

Electricity: Yes
Master Association: Yes
Sewer: Yes
Trash Disposal: Yes
TV Cable: Yes
Water: Yes

Furnished

Furnished: Yes

Lot Features

Waterfront: Yes

Association Amenities

Community Room: Yes
Elevators: Yes
Pool: Yes
Waterfront: Yes
Other – See Remarks: Yes

Rooms

Primary Bedroom: Yes

Showing

ShowingTime: Yes

Utilities

TV Cable: Yes
Electricity – Connected: Yes
Public Sewer – Connected: Yes

Waterfront Type

Gulf: Yes

Primary Bedroom

First: Yes

Cooling

Electric: Yes

Heating

Electric: Yes

Property Features

Appliances: Dishwasher; Disposal; Dryer; Microwave; Oven – Electric; Range – Electric; Water Heater – Electric Primary Bedroom: First Cooling: Electric Heating: Electric Exterior: Balcony Association Fees Include: TV Cable; Electricity; Master Association; Sewer; Trash Disposal; Water Furnished: Furnished Lot Features: Waterfront Association Amenities: Community Room; Elevators; Pool; Waterfront; Other – See Remarks Rooms: Primary Bedroom Showing: ShowingTime Utilities: TV Cable; Electricity – Connected; Public Sewer – Connected Waterfront Type: Gulf

Room Information

Room Name	Level	Dimensions	Length	Width
Primary Bedroom	First	12 x 10	12.00	10.00

Listing Office: Berkshire Hathaway HomeServices Beach Properties of Florida

Last Updated: July – 15 – 2026

Information deemed reliable but not guaranteed.