This is the ultimate horse property, multi family property, or bring your cattle/Llamas, or Alpacas. The Ranch is 200 acres that backs to over 3,000 acres of BLM & State land!!! This Ranch has extensive infrastructure for livestock and is located in Penrose, and sits back off of Highway 115, with amazing views of the Sangre De Cristo Mountains, the Wet Mountains, and the Collegiate Peaks! The main home has over 4200 square feet of open main level living, with a fully finished basement. There are 5 bedrooms and 4 bathrooms, and the main level is an open concept with the living room that opens onto the sunroom. You will love the great space shared between the rustic kitchen with center island, wet bar, wood floors, and alder cabinetry, and the living room with cathedral ceilings & gas stove, and the dining room that is accented by an Antler Chandelier. There is a fun sunroom perfect for that morning coffee and a peaceful covered patio with a large pond and waterfall. The master has dual closets AND bathrooms and overlooks the large pond. There is a second home on this property with nearly 2000 sq ft, with 3 bedrooms, 2 baths and the home has been updated throughout. The horse/livestock facilities include a 150x300 pipe arena with an announcer's stand, a 150x80 cutting pen, an 8-stall barn with tackroom, feedroom, and runs, 31 pipe pens for horses, cattle pens, hay storage, 6 horse hot walker, and ALL of this on almost 200 acres of your own private oasis, where you can ride right out your back gate to the mountains behind. There is also a 36'x36' workshop with electric & a commercial air compressor. The solar panels are included and are free & clear. This property is in a conservation easement, so it can never be developed, preserving your peace and tranquillity. Power lines do cross the property.