LOS ANGELES, CA — The closest ski resort to Los Angeles is back on the market for nearly $3.3 million after a buyer's plans to transform the historic mountain into an exclusive ski club fell apart, according to reports.
Mount Waterman, a ski resort in the Angeles National Forest that has struggled to remain open consistently for decades, is listed for $3.275 million after a proposed sale collapsed, SFGATE reported.
An investment group announced in October 2024 that it had purchased the resort and planned to reopen it for the 2024-25 ski season. But the company never actually completed the purchase, listing agent Marc Ramirez told SFGATE.
"They went ahead and were a little gung-ho and did a marketing plan before it closed escrow," Ramirez told the publication.
The group had proposed turning the public ski area into a country club-style destination called Waterman100, offering wealthy members lifetime ski access, private powder days and helicopter transportation to the mountain. Plans also included cabins and an outdoor events venue.
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Ramirez said several factors complicated the sale, including the 2025 Los Angeles wildfires and delays involving the Forest Service. Ultimately, he said, the buyers lacked the money to close the deal.
Founded in 1939, Mount Waterman has faced decades of financial and operational challenges. The resort closed from 2001 to 2009 after its previous operators failed to meet Forest Service requirements.
Since reopening, the mountain has typically operated just 12 to 25 days annually, with limited snowfall, wildfires and road closures repeatedly disrupting ski seasons.
Access remains a major obstacle. Angeles Crest Highway, the only road leading to the resort, is expected to remain closed until at least 2028.
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