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Old 12-25-2018, 04:37 PM   #1
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Glen Cove Marina condo slips, Vallejo, CA

Iím considering purchasing several slips at this newly condominiumized marina. From my perspective in the PNW, sale prices seem too good to be true...any insight on this marina from Bay Area boaters.
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Old 12-25-2018, 06:09 PM   #2
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Glen Cove is just starting to convert over to purchased slips as the owner wants out of the business. I'm told he's been increasing rents over recent months to encourage purchases from renters or movement so they can sell the slips. Rumor has it that it's been in a state of decline due to this transition but I haven't been by to take a look.

The area is safe and fast-water accessible being right on the Carquinez Strait but there are no restaurants or stores to speak of within a few miles. It's surrounded by residential so it's quiet.

Benicia Marina located east of Glen Cove is much larger with much better access to commercial businesses via a walk of a couple blocks.

No telling what the association fees will be...

https://static1.squarespace.com/stat...nium+FAQ+3.pdf
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Old 12-25-2018, 11:27 PM   #3
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FlyWright: Thanks for the feedback. My daughter bought a house in the historic district of Vallejo at half the price of Alameda or Berkeley. I like Vallejo and think this could be a good long term investment. Even with increased slip rents, theyíre a bargain compared to PNW.
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Old 12-25-2018, 11:55 PM   #4
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The association fees for my condo are four-and-a-half times more than 29 years ago. Purchasing a condo-slip is no assurance that operating and repair costs won't increase substantially. Expect fees will start off artificially low and won't provide for sufficient reserves.
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Old 01-02-2019, 08:16 PM   #5
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Quote:
Originally Posted by nwboater View Post
Iím considering purchasing several slips at this newly condominiumized marina. From my perspective in the PNW, sale prices seem too good to be true...any insight on this marina from Bay Area boaters.
There is a whole lot more to it than the selling price.

Have you reviewed the financials?

By laws?

Any past assessments? Potential future assessments?

Have you read the surveyor's report?

Lots of due diligence to do
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