Chappaqua Homes for Sale | Paul Allen Selling Allan Island for $13.5 Million

Source: Forbes

At first glance it appears to be a typo; Paul Allen’s private island is called … Allan Island? Someone must have messed up. However, according to The Seattle Times, the private plot of land off Anacortes, WA, was not named for the tech billionaire, but a Navy hero. Allen recently listed his private isle in the San Juans for $13.5 million.

Allen co-founded Microsoft alongside another Seattle billionaire, Bill Gates. Allen was diagnosed with Hodgkin’s lymphoma in 1982 and during treatment, left the company. Although he no longer is an active member of the board, he still serves as an adviser to Microsoft and owns a reported 138 million shares. His net worth, according to Forbes, is $13 billion.

In addition to owning several sports teams — the Seattle Seahawks, Portland Trail Blazers, and part of the Seattle Sounders — plus one of the world’s largest yachts, Allen also holds a plethora of expensive real estate. He owns a huge compound on Mercer Island in Seattle composed of nearly 9 separate parcels that serves as his primary residence, as well as the former home of Rock Hudson in Beverly Hills, and an estate in Malibu.

In addition to Allan Island, Allen also owns another property in the San Juan Islands called the Sperry Peninsula, which is located on Lopez Island. He purchased the property in 1996 for $8 million. Allen never built up Allan Island, deciding instead to develop his place on Lopez.

This isn’t the first time Allen has listed the island. In 2005, he put it on the Anacortes real estate market for $25 million. Without any offers, the property was removed. It was re-listed in the middle of August with a significant decrease in its asking price: $13.5 million. Median Anacortes home values have been dropping, they are currently $235,200.

The 292-acre island is known for its wild animal sightings, in particular bald eagles, coyotes and harbor seals. Located southwest of Anacortes, the only sign of development on the rocky isle is a caretaker’s cabin powered by a generator near the sole dock and grassy airstrip. Allan Island is among a handful of private island homes for sale.

Besides breathtaking water views, Allan Island has views of the Strait of Juan de Fuca, the Olympic Mountains and surrounding San Juan Islands.

The listing is held by Wally Gudgell of Windermere Real Estate.

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Based on a 30-year fixed mortgage rate at a current rate of 4.140 percent and assuming a 20 percent down payment, the monthly mortgage payment for this home is $52,436 per month, as quoted on Zillow Mortgage Marketplace.

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