5004 Thomas Drive 2304 Panama City Beach, FL 32408

Penthouse Perfection at Treasure Island in East PCB! In a market where condo financials are often the biggest question mark, Treasure Island offers a rare level of confidence. This complex stands out with fully-funded reserves, passed inspections, and a track record of ZERO special assessments in at least the five years of the seller's ownership. The association is actually considering an HOA dues DECREASE as a result of the fantastic management and recent insurance reduction. Additionally, new high-speed elevator installation is underway and the cost is already fully covered by the current budget. This isn't just a condo; it is an investment that makes as much sense on a spreadsheet as it does in your heart :)

As you enter, you'll encounter a fully revitalized interior that is ready for immediate enjoyment. The unit shines with fresh paint and brand-new coastal furnishings that perfectly capture the relaxed beach atmosphere. You will appreciate the durability and cleanliness of having tile flooring throughout (no carpet!). It has been a pet-friendly unit but it's so clean you wouldn't even know it. The bathrooms have been updated with stylish new vanities and even have special pull knobs to accent the beachy vibe. There are built-in bunks behind the dining area that have cute porthole decor and give the unit more sleeping space in addition to the two spacious bedrooms. The kitchen features a new white refrigerator and built-in microwave. Plus there's a new washer/dryer and HVAC system for year-round comfort and peace of mind.

The current owners have been incredibly happy with the complex, praising the onsite rental management and the proactive Board of Directors for making ownership easy and profitable. It is a proven performer, grossing $45k in rental income in 2025. It has potential to be even stronger, but the owners have wanted to enjoy the unit themselves as well. And who could blame them with a unit like this!

The complex is pet-friendly for owners and also allows renters to bring one dog under 30lbs, a rare feature that significantly boosts rental demand. Complete with an assigned covered parking spot and located next to Schooners Restaurant on one side and St. Andrews State Park on the other, this is the total package. Whether you are looking for a primary residence, vacation getaway, or a high-performing investment, this penthouse is ready for you. Schedule your showing today - a video tour is also available