A private island in Alaska is hitting the market for $20 million, according to Troy Dana of Fay Ranches, who shares the listing with Yvan Corbin of Real Broker.

The roughly 44-acre property is located in the Kenai Peninsula Borough in the southwestern part of the state, about 21 miles from the city of Homer and about 8 miles outside the small city of Seldovia, Mr. Dana said. 

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The island has a pebble beach and about 7,000 feet of frontage on Cook Inlet.

Iris Leonardo

The owner of the island is George Lindholm, a real-estate investor who lives primarily in Washington, according to Mr. Dana. He inherited it in 2018 from his late father, Mr. Dana said. The property has been owned by the Lindholm family for about a decade, he said.

Mr. Lindholm didn’t respond to a request for comment.

There are currently no structures on the island, which was once used as a fox farm, Mr. Dana said. Mr. Lindholm considered building two homes on the island, Mr. Dana said, but decided against it. 

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Some trees on the island are believed to be over 350 years old.

Iris Leonardo

The island has a pebble beach and about 7,000 feet of frontage on Cook Inlet, according to Mr. Dana. The water is likely too cold for recreational swimming, he said, but is home to sea life such as salmon, whales and otters, and can be used for fishing. Homer is known for its halibut fishing, he said.

At low tide, he said, the island stretches to roughly 56 acres. Much of the island is covered with spruce trees, some of which are believed to be over 350 years old. Summers on the island are mild with temperatures ranging from the mid 70s to the low 80s, he said. 

While there are a number of private islands in Alaska, it is rare to find one this size, according to Mr. Dana.

“Based on my own experience, smaller islands from time to time come on the market,” he said. “Rarely does an island of this size hit the market in Alaska.”

In Homer, the median home listing price in April was $452,000, up 9.2% compared with the same period last year, according to Realtor.com. (News Corp, parent of The Wall Street Journal, operates Realtor.com.)