FOR SALE: The Closest Ski Area To Los Angeles ($2.275 Million)

Flintridge, California- The closest ski area to Los Angeles is on the market.

At $2.275 million, Mt. Waterman has many perks. First, it’s a short drive from one of the largest metropolitan areas in the country, meaning that it’s accessible to millions of people.

Secondly, the ski area is chock-full of history. The ski area has operated since 1939 and has three fully insured and state-certified chairlifts. 60% of the terrain is advanced, 20% of the runs are intermediate, and 20% are for beginners. The easier terrain is located on the upper terrain pods, as skiers can download Chair 1 at the end of the day.

Regarding the facilities, the base area has a ticket office, an office trailer, and a caretaker’s shed.

The ski area has an upside-down format, as most facilities are accessed by riding up Chair 1. These buildings include a 2161-square-foot warming hut, a storage building with bathrooms, and a ski patrol/maintenance building. There are also two mobile homes for the land owner or potential caretakers on the property. The purchase also includes three snowcats and five snowmobiles. Currently, the ski area runs on diesel generators.

The ski area also offers summer activities. Waterman’s professional eighteen-hole disc golf course has hosted competitions, and it has various mountain biking and hiking trails. The ski area’s revenue comes mainly from filming various productions, as Mt. Waterman is used as a site for commercials, television shows, and films.

The main issue that the property has dealt with is consistent operations. Before operating some weekends this past March and April, the last time that Mt. Waterman had lift-serviced ski operations was in early 2020. They are currently without snowmaking, relying on natural snowfall to open. However, there is a four-million-gallon reservoir that could be used for snowmaking. They also sometimes deal with road closures, as the Angeles Crest Highway can shut down due to snow and other weather factors.

Another key point is that Mt. Waterman is on U.S. Forest Service land, meaning any new projects need their approval. Last year, the owners signed a transferable twenty-year lease with the U.S. Forest Service, which is good until 2043. This lease also expanded the property’s acreage by 150 acres. Mt. Waterman’s lease now includes 390 acres, meaning it’s ripe for expansion. In addition, another parking lot can be added.

I spoke yesterday with Marc Ramirez, the property listing agent. The current owners run this mountain more as a hobby than a full-scale business, and the listing agent believes that Waterman has the potential to be transformed. There are a few interested parties, so if you want to operate this ski area, the time to reach out to Pacific West Business Properties is now.

You can view the listing here. More photos and stats of the property are below.