Big cruising plans. An accessible place to start.

Morning coffee overlooking a palm-lined anchorage, afternoons swimming off the stern, and sundowners on the flybridge—Legacy offers the space to bring those plans to life. Located at Shelter Bay Marina, this 1986 Bayliner 4550 Pilothouse presents an accessible entry into a substantial cruising motor yacht for a buyer willing to put in some elbow grease and make her their own.

Her appeal starts with a practical layout: a bright, full-beam salon, galley on the main living level, raised pilothouse, three accommodation areas and two heads. Outside, a generous flybridge and aft cockpit provide separate spaces for relaxing, entertaining and enjoying life on the water. Twin Caterpillar 3116 diesels, rated at 300 hp each, power the boat.

For someone considering a small charter venture in Panama, Legacy offers an interesting starting point. Her combination of guest accommodation, indoor gathering space and outdoor lounging areas lends itself to hosted island escapes—whether the vision is exploring San Blas, enjoying the islands of Bocas del Toro, or transiting the Panama Canal for a season in Las Perlas.

She also makes sense as a roomy private cruiser or floating home, with enough separation between living, sleeping and helm areas to make extended stays aboard comfortable.

An opportunity for a hands-on owner

Legacy will benefit from cosmetic attention, maintenance and updating. For a practical buyer who enjoys improving a boat, she offers the opportunity to put personal effort into a spacious platform at a lower entry point.

The flybridge upholstery was renewed in 2022. Other owner annotations record salon air conditioning replaced in 2022, pilothouse air conditioning undergoing rebuilding in 2026, and new sacrificial anodes fitted in November 2026. Bottom paint is due.

Accommodation and interior layout

Salon

A sliding door from the aft cockpit opens into the full-beam salon. Large windows bring in natural light and provide views from the main living area, while the L-shaped settee and adjustable hi-lo table create a gathering space for meals, conversation or a quiet evening aboard.

Features include:

• L-shaped salon seating and adjustable table
• Additional seating to starboard
• Wet bar and entertainment area
• Teak and composite interior finishes
• LED interior lighting
• Window sunshades
• Salon air conditioning reported replaced in 2022

Sleeping accommodation

The forward owner’s stateroom features an island queen berth, hanging lockers to port and starboard, drawers beneath the berth and opening portlights. An ensuite head provides private bathroom facilities.

A separate guest cabin offers a queen berth, privacy door and storage beneath the bed. Across the passageway is the guest/day head with a separate shower stall.

A third accommodation area serves as a study or additional sleeping space, with seating that converts to upper and lower berths. This flexible arrangement provides options for visiting family, guests or crew.

Galley

Positioned forward to port on the salon level, the galley keeps meal preparation connected to the main living space—a useful feature when entertaining or hosting guests.

Equipment includes:

• Princess three-burner electric cooktop and oven
• Microwave
• Isotherm refrigerator/freezer
• Twin stainless-steel sinks
• Cabinet and drawer storage
• Laminate countertops, as recorded in the owner’s inventory

Raised pilothouse

The raised pilothouse provides a sheltered helm position with a captain’s chair, guest seating and a table aft. Sliding doors on both sides give access to the side decks, useful when docking or moving forward.

The separation between helm and salon allows guests to enjoy the living space while the skipper concentrates on navigation.

Flybridge, cockpit and deck

The flybridge is one of Legacy’s strongest lifestyle features, with an elevated helm, L-shaped seating and room to enjoy the anchorage. Access is available from the pilothouse and aft cockpit.

• Flybridge upholstery renewed in 2022
• Sunbrella canopy, new in 2025
• Upper helm station
• Flybridge seating
• Full-beam aft cockpit
• Transom door
• Swim platform and boarding ladder
• Electric anchor windlass
• Fortress primary anchor
• Secondary Danforth-style anchor, listed at 25 lb
• Window and helm covers.

The owner’s inventory lists an approximately 11-foot Hypalon tender with a wood floor and a Mercury 6 hp four-stroke outboard.

Engines and mechanical equipment

• Twin Caterpillar 3116 diesel engines, rated at 300 hp each
• Engines reported as 1996 units
• Straight-shaft propulsion
• Twin ZF IRM 220A transmissions
• Four-blade bronze propellers
• Hydraulic steering
• Racor fuel filtration
• Dripless shaft seals
• Reverso oil-change system
• Westerbeke diesel generator, listed in the approximately 12–12.5 kW range
• Reverse-cycle air-conditioning systems
• Hot-water system
• Electric heads and Electro Scan sanitation system

Navigation and electrical equipment

The supplied records list:

• Garmin GPS/chartplotter
• Raymarine C120 chartplotter
• Raymarine radar and depth instrumentation
• AIS module associated with the Raymarine system
• Simrad AP26 autopilot
• Raymarine Ray55 VHF with remote unit
• 50-amp shore-power connection
• Battery charger
• 120V AC outlets
• AC/DC distribution panels
• Electric bilge pumps
• Navigation lights and windshield wipers

Your next chapter in Panama

Legacy offers room to host, space to live aboard and the opportunity to create something personal. For a buyer with practical skills and a vision—private island cruising, a floating home or a future charter project—this Bayliner deserves a closer look.

For more information, please contact Michelle Perry at +507 6705-1817.