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6201 Thomas Drive 406, Panama City, FL 32408

Panama City, FL 32408
  • 2 Beds
  • 2 Baths
  • 1,379 Sq Ft
  • 1987 Built
  • MLS 789656

About this home

WANΤ TΟ ΒΕ LΕSЅ THAN A MILE TO TΗE NEW ΤOOTSIES?????? WATERCREST 406 IS WHERE ITS AT!!! Wake up to the sound of waves and step directly onto the sugar-white sands of Panama City Beach from this beautifully positioned beachfront condo. Located on a desirable low floor, this residence offers effortless access while still delivering sweeping Gulf views and the coastal lifestyle buyers seek. The spacious floor plan is designed for comfort and functionality, featuring large bedrooms and a highly sought-after master suite positioned directly on the Gulf. Wake up each morning to panoramic water views and enjoy private balcony access from your own retreat. A separate laundry room adds everyday convenience, while the generous living and dining areas create the perfect space for entertaining family and guests. This building has undergone extensive upgrades, giving buyers peace of mind and modern appeal. Recent improvements include fresh exterior paint, new balcony railings, resurfaced patios, and a newly refinished heated pool--perfect for year-round enjoyment. Even better, there are no current special assessments, and the property has successfully met all required milestones and reserve study standards. Accessibility is enhanced with private elevators located on both the east and west ends of the building, servicing up to the 6th floor for added convenience and privacy. For investors, this property presents an exceptional opportunity. Short-term rentals are allowed, with projected annual rental income ranging from $70,000 to $90,000 depending on owner usage, making it both a luxurious getaway and a strong income-producing asset. Whether you're searching for a primary residence, vacation home, or high-performing rental property, this beachfront condo offers the perfect blend of location, lifestyle, and value on one of Florida's most iconic coastlines.

Property details

Property typeCondominium
StatusActive
Area03 - Bay County - Beach
SubdivisionWatercrest Condo
CityPanama City
CountyBay
Zip32408
StyleHighRise
Taxes$5,368
Tax year2025
HOAYes
HOA fee$3,244/qtr
WaterfrontYes
ViewGulf,Water
Special conditionsListedAsIs

Interior

Total rooms3
Full baths2
AppliancesWasherDryerStacked,ElectricOven,ElectricWaterHeater
CoolingCentralAir
HeatingCentral,Electric
Interior featuresBalcony,DoubleVanity,MainLevelPrimary,TubShower

Exterior & lot

Lot dimensions0x0
PoolFenced,ElectricHeat,InGround,Community
ParkingAdditionalParking,Paved,ParkingLot
Road frontageCity Street
Other structuresOther, Tennis Courts

Schools

ElementaryPatronis
MiddleSurfside
HighArnold

Community

Community featuresBarbecue, Beach, Conference Meeting Room, Fitness Center, Pool, Tennis Courts, Waterfront, Community Pool, Short Term Rental Allowed
DirectionsFrom the Hathaway bridge travel south on Navy Drive, go past the curve where Newby's is at and continue on for about a mile. Watercrest will be on your left. Look for the big green ''W'' on the front of the building.

Data source: Central Panhandle Association of REALTORS®

Location

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