Diamond M Bar Ranch, at 102+/- acres, offers the combination of 3/4 mile of the San Juan River, potential elevated homesite with views, and irrigated pasture with senior water rights. No HOA. Impressive 4100 feet of San Juan River, with ~1/3 of that both banks. Prior fishing guides on this stretch targeted Brown Trout with the occasional bonus bass that lurk upriver from 15,000-acre Navajo Reservoir just a few miles downstream. This stretch of water also offers the potential for a short float through the property with accessible put-in and take-out. Current owners often allow others to harvest 2-3 Mule Deer and Elk from the property annually and have previously worked with a fishing guide to schedule third-party fishing. From the river on the east and south, the property slopes gently upward across the irrigated meadow, and then rises quickly to an elevated mesa in the northwest corner. Accessed by an existing rough-cut driveway, this elevated mesa offers an excellent building site with panoramic views of pinion/juniper-forested mesas and buttes. To the northeast are mountain views of square-top and other snow-capped peaks in the South San Juan and Chalk ranges. Lots of building site options: Build down in the meadow; up on the mesa looking down over the river and pasture; or set the home farther back on the mesa to achieve substantial privacy. Intriguing potential for future water development including additional river structure, ponds, and modern irrigation. Virginia Ditch delivers 2.5 CFS of water rights to a ~38-acre pasture gently sloped and easily irrigated. Although not currently operable, the Ranch is approved for an alternative diversion site for buyers interested in transitioning to pump and sprinkler irrigation. Also conveyed are 4.0 CFS of additional water rights historically on the same Virginia Ditch. Further due diligence will be required to utilize the additional water, but the potential is worth investigating. This property is located 16 miles south of Pagosa Springs, CO off Trujillo Road. Pagosa Springs is well known as an outdoor recreation destination popular for its namesake hot springs, the San Juan River, nearby Wolf Creek ski area, and beautiful mountain views. The community is surrounded by San Juan National Forest offering myriad options to hike and bike, raft and ski, fish and hunt. With a population of around 15,000, Pagosa offers all the recreational amenities found elsewhere in Colorado in a smaller community setting.