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$1,399,000

Gulf views, directly across from the beach AND beach access--5518 Gulf Drive offers the ideal blend of location, space, and flexibility, making it ideal as second home rental investment, with the benefit of no HOA. Situated on a large corner lot on the east end of Panama City Beach, this home is designed with both comfort and functionality in mind. Newer construction and featuring a spacious living and kitchen area that opens to a private pool and a large patio with both covered and uncovered spaces--perfectly blending indoor and outdoor living for easy gathering and entertaining.The thoughtful layout includes two primary suites, along with two additional bedrooms with en suite baths, and 2 sets of full bunks - enhancing it's versatility to host large groups without sacrificing privacy. The private pool makes this a true vacation-style setting, while the front porch and expansive second-floor deck offer additional outdoor living spaces to enjoy Gulf views and coastal breezes. The corner lot provides ample parking--a rare and valuable feature this close to the beach. With short-term rentals allowed, a highly functional floor plan, and a location just moments from the sand, this property presents an exceptional opportunity to own your piece of paradise at the beach!

4 Beds ⋅ 4 Baths ⋅ 999040 MLS ⋅ 2,414 SqFt.

5518 Gulf Dr, Panama City Beach

$1,899,000

Gulf Front | Rare Deeded Land to the Water's Edge | No HOA! Welcome to The Palapa House, a Gulf-front residence positioned directly on the sugar-white sands of the Gulf of America, with deeded ownership extending to the water's edge. Fewer than 7% of Gulf-front parcels in Panama City Beach offer this level of private beachfront ownership, making opportunities like this exceptionally rare. Originally designed by the architects of Regency Towers, the home is positioned farther onto the beach than neighboring properties, ensuring unobstructed panoramic Gulf views to the east and west. Step from your back door onto your private stretch of beach or relax beneath the city-approved private Palapa, made possible by the extended property lines reaching the water's edge. The palapa's thatched roof was replaced in Fall 2025. The upstairs Gulf-front balcony is accessed from the main family room and offers sweeping sunrise & sunset views. On the lower level, a beachside deck is accessible from the second bedroom and opens directly to the sand. A private boardwalk extends from the front porch to the beach, and an exterior shower on the rear boardwalk provides convenient sand removal after leaving the beach. Major improvements include a new GAF roof system with new roof decking and fascia board, backed by a 15-year wind and material warranty installed in July 2025. A new Siemens 200-amp circuit breaker panel with corrosion-resistant copper wiring was installed in 2025. The exterior was upgraded with Tyvek vapor barrier, Hardie plank siding and trim, and fully painted with Sherwin-Williams exterior paint. All decks were stained with Super Deck marine stain and all windows were freshly caulked. The home passed a professional 4-point and wind inspection in 2025, resulting in a 17% reduction in homeowners insurance premium. The interior and exterior have been freshly painted and luxury vinyl plank flooring runs throughout the home. Additional upgrades include new ceiling fans, updated bathroom light fixtures, new smart TVs with upgraded WiFi, new locks and security features, new kitchen accessories, and solar film installed on all windows to improve energy efficiency during extreme weather conditions. The living room features a 3-D glass electric fireplace with optional heat and color-changing flame. New lighting and updated family room, dining room, and bedroom furniture and accessories enhance the home's coastal design. The kitchen and baths were previously remodeled, and the home is offered beautifully furnished. Appliances include electric range, microwave, dishwasher, refrigerator, washer and dryer. This three-bedroom home comfortably sleeps 11, including Twin XL bunks, a newer queen mattress in the downstairs bunk room, and a queen sleeper sofa. The primary bedroom is located on the second floor for privacy and separation. Exterior features include mature palm trees, an 8x40 privacy fence, covered porch areas, private driveway parking, and two beach decks with custom cable rails. High-end Sunbrella outdoor furniture was added in April 2021. The property consistently rents more than 200 days per year with documented rental income available upon request. Daily and weekly rental structure is already in place. Flood insurance remains favorable due to grandfathered mapping status. Located near St. Andrew State Park, Shell Island, marinas, waterfront dining, and public boat access, this is Gulf-front ownership at its rarest. Private, deeded, income-producing, and architecturally positioned for unobstructed views. This is not simply a beach house. It is a generational Gulf-front asset.

3 Beds ⋅ 2 Baths ⋅ 997069 MLS ⋅ 1,296 SqFt.

5903 Gulf Dr, Panama City Beach