The Bayou has the best of all worlds
PHOTO/REALTOR.COM
The Bayou contains 32 two-bedroom units each with
a patio or balcony
and deeded boat slip.
The Bayou condominiums in Anna Maria have always one of my favorite places. Not only is it the oldest condo complex in the city of Anna Maria, built in 1973, it is by far one of the best locations on the north end of the Island. Situated at the tip of Pine Avenue across from the city pier, The Bayou borders a natural boat basin with access to the Gulf.
This unassuming complex contains 32 units housed in eight two-story buildings. The apartments are two bedroom and one bath, totaling 822 square feet each, with either a patio or balcony and some water views. However, one of the real values and attractions of The Bayou are the deeded boat slips available with the units, a fabulous amenity for vessels that can fit under the Bay Boulevard bridge.
There are common laundry facilities on the premises, although some residents are able to install stacked washers and dryers in their units, assigned parking, and rentals are permitted. There is, however, no pool and restrictions on pets.
The last time I analyzed The Bayou was in January 2006, which looking back was probably the top of the real estate market. At that time there was a unit listed for $425,000 and two closings the previous year in the high $300,000’s.
Today’s picture, however, is looking more like 2003 than 2006. There is one unit on the market with a local broker listing at $298,000. Certainly a radical change from 2006, although only having one listing in this market is a vote of confidence in the community. Since June 2008 there have been two closings, one in October for $240,000 and one in November for $275,000.
With the Pine Avenue restoration in full swing, The Bayou is not only sitting pretty on the popular north end, it is also sitting pretty as Pine Avenue continues to be transformed into an updated old Florida walking district. In addition, close proximity to restaurants and the trolley stop makes this spot irresistible.
If you’re looking for the glamour that has accompanied some of the newer condo complexes on the Island in recent years, The Bayou may not be for you. But if you want an affordable, casual investment for a winter or full time home, The Bayou may become your favorite place as well as mine.
