Private island in Alaska to hit the market for $20M

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Passage Island (Fay Ranches, iStock)

Passage Island (Fay Ranches, iStock)

A private island in Alaska that adds 12 acres at low tide will hit the market with an asking price of $20 million.

The property in the Kenai Peninsula Borough in the state’s southwest is about 44 acres and expands to 56 acres, the Wall Street Journal reported. While Alaska has a number of private islands, one this large isn’t typical, one of the brokers said.

“Based on my own experience, smaller islands from time to time come on the market,” said Troy Dana of Fay Ranches, who shares the listing with Yvan Corbin of Real Broker. “Rarely does an island of this size hit the market in Alaska.”

The owner is real estate investor George Lindholm, primarily a resident of Washington, who inherited the island in 2018 from his late father. The property has been in the family for about 10 years.

The island, once used as a fox farm, doesn’t have buildings, although Lindholm once considered building two homes, according to Dana. Spruce trees, some of which are believed to be over 350 years old, cover the property.

It’s got a pebble beach and about 7,000 feet of frontage on Cook Inlet. The water is probably too cold for swimming, at least for humans, and is home to salmon, whales and otters among other sea life. The city of Homer, about 21 miles away, is known for its halibut fishing. The small city of Seldovia is about 8 miles away.

Summer weather is mild, with temperatures ranging from the mid-70s to low-80s.

The median home listing price in Homer rose about 9 percent in April to $452,000 from the previous year, according to Realtor.com.

[WSJ] – Rachel Herzog



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