Diamond M Ranch Resort
Kenai, AK
Asking price
$8,400,000
Sites
69
Cap rate
—
Price / site
$121,739
About this property
Diamond M Ranch Resort, located in picturesque Kenai, Alaska, is widely regarded as one of the top three RV parks in the entire state and stands as a premier investment opportunity on the Kenai Peninsula. Spanning approximately 20 acres, this exceptional resort has been meticulously planned, developed, and maintained by the original owners since 1997, resulting in an immaculate, turnkey asset with no anticipated Day-1 capital expenditures. The park benefits from Kenai’s extraordinary recreational appeal—including world-class Kenai River salmon fishing, Cook Inlet halibut charters, hiking trails, bike paths, beaches, and proximity to both Kenai and Soldotna amenities. Its natural setting, bordering a scenic farm and offering iconic Alaska views, draws retirees traveling from out of state, in-state family vacationers, and long-term seasonal guests. The resort features 69 full-service RV pads, each equipped with water and sewer service. Sixty-five (65) pads offer 20/30/50-amp electrical pedestals, while three pads offer 20/30-amp service. Thirty-one (31) pull-through sites accommodate larger rigs, and 52 of the 69 pads include electrical meters to bill back longer-term guests for usage. In addition to the RV sites, the resort provides eight primitive tent sites with picnic tables and access to a community fire ring. Underground utilities have been expertly designed using 2" HDPE water lines and 4"/6" ABS sewer lines. The resort operates on well and septic systems, and every pad is fully functional and in excellent working order. All interior roads are gravel and in top condition, with more than $60,000 invested recently in road and pad improvements. The property lies in an area unstudied by FEMA for flood zones, but the owners report zero flooding issues over 28 years and are unaware of any flooding in recorded history. Beyond the RV sites, Diamond M Ranch Resort distinguishes itself with 16 high-demand lodging units that generate premium rental revenue. These include five one-bedroom historic suites, a duplex, a standalone cabin, a two-bedroom apartment, a one bedroom apartment, two studio apartments, and four hotel-style rooms—each offering a unique guest experience. The property also features a four-bedroom, two-bathroom residence currently occupied by the owners, with direct access to a scenic guest viewing deck overlooking the resort. Two well-designed bathhouses are located onsite: one with three residential-style bathrooms and another with four. The resort includes a general store selling merchandise and guest necessities, as well as a newly completed clubhouse building for office operations. The resort is self-managed by the owners and attracts a balanced mix of guests: approximately 50% overnight or weekend stays, 10% monthly renters, and around 15% seasonal visitors. Rates have been increased annually and stand at the higher end of the market—consistent with the owners’ philosophy of offering a premium experience, reflected in their statement: “High—you get what you pay for.” Over the past 3–5 years, ownership has invested in key improvements including road upgrades, various roofing projects, and completion of the new office clubhouse. While the resort is in excellent condition with no immediate capital needs, ownership anticipates that future operators may eventually consider updating the layout of the Blair Tall Timbers section, repairing the deck on Foreman’s Cabin, or evaluating long-term improvements to the Mainstreet roof. Diamond M Ranch Resort offers significant opportunities for expansion, enhancement, and revenue diversification. Ownership notes that waterfront expansion may be possible, the property’s scenic open spaces lend themselves to wedding or event venue development, and there is ample room for additional growth throughout the resort. The property boasts hiking and biking trails, picturesque viewing decks, and adjacency to a farm—further adding to its appeal as a destination RV resort.
All details
Figures are transcribed from the source listing as published. “Source page last checked” is when our crawler last fetched that page — it is not a check of the financials and not confirmation from the broker.
| Asking price | $8,400,000 |
|---|---|
| Sites | 69 |
| Price per site | $121,739 |
| Address | 48500 Diamond M Ranch Road |
| First seen by UnitListed | Sep 6, 2026 |
| Source page last checked | Oct 24, 2026 |
Before you call the broker
7 things are not disclosed on this listing. These are the questions that would close the gap — specific to a park, not a generic list.
Net operating income — not disclosed
What is the trailing twelve-month NOI, and what does it include and exclude?
The single number a lender will size debt against. Ask what is excluded — management fees and reserves are the usual omissions.
What period the financials cover — not disclosed
Are these figures trailing twelve months, last calendar year, or projected?
A projected stabilised NOI and a current operating NOI can differ by a third, and both get called "NOI".
Gross income and operating expenses — not disclosed
Can you share a trailing twelve-month profit and loss, with the expense lines itemised?
NOI alone hides whether income is high or expenses are being under-reported. The split is what you underwrite.
Reason for sale — not disclosed
Why is the owner selling, and how long have they held it?
Never published on a listing, always worth knowing. Retirement and a looming capital bill are very different situations.
Operating season and seasonal mix — not disclosed
Is this year-round or seasonal, and what is the split between seasonal, monthly and transient guests?
A seasonal park with a five-month window is a different business from a year-round one at the same annual revenue.
Utility infrastructure — not disclosed
Are water, sewer and electric municipal or private, and what condition is the infrastructure in?
A private septic or well at end of life is a capital item that can exceed a year of NOI, and it will not appear in the expenses.
Permits and non-conforming use — not disclosed
Is the current site count permitted, and is any of it legal non-conforming?
A park operating more sites than it is permitted for cannot be financed at the income it shows.
Asking price — disclosed
Currency of the asking price — disclosed
Site count and hookup mix — disclosed
Whether the land is included — disclosed
What has changed
Every date below is when we observed a change, not when it happened. We first saw this listing on Sep 6, 2026; that is not the same as when it came to market, and we have no way to know the latter.
- Sep 6, 2026First seen by UnitListed
The asking price has not changed across any of our observations.
