This premium 271+/- -acre irrigated hay and livestock operation, offered for the first time in nearly 30 years, presents a rare opportunity to acquire a productive, well-watered property in the highly regarded Swink School District. The farm is comprised of two large tracts, each featuring pivot irrigation, collection ponds, senior water rights, and dependable infrastructure. The North Farm includes 119+/- irrigated acres under a 2014 Zimmatic pivot and a 15-acre-foot collection pond. Water rights consist of 109 shares each of Catlin Canal and Larkspur Ditch. A conservation easement covers 64 acres and 64 Catlin shares, while 66 acres and 45 shares remain unrestricted. Two headgates-one gravity-fed and one pump-fed with a 12" Fischer lift pump-deliver water directly from Catlin Canal, eliminating lateral ditches. A domestic water tap supports winter cattle grazing. This farm has consistently produced premium alfalfa and grass hay, with yields averaging 5 tons/acre (grass) and four alfalfa cuttings annually. The South Farm features 141+/- irrigated acres under a 2018 Zimmatic pivot and a 10-acre-foot pond. It includes 120 Otero Canal shares and receives transferable Catlin water via a 12" underground pipeline. Concrete ditch and riser systems irrigate pivot corners. Re-seeded to alfalfa in 2024, this field averages 3 tons/acre historically. Both farms have a corn and wheat base and offer easy access from paved County Roads 24 and Z. Water assets include top-tier Catlin Canal shares (5 AF/share, 2.4 CU AF/share) with winter storage, Fry-Ark allocations, and augmentation/lease programs; Otero Canal shares (2.5 AF/share, 0.875 CU AF/share) with Fry-Ark access; and Larkspur Ditch transmountain water with no return flow obligations. With reliable water, strong yields, and long-term viability, this is an ideal setup for ag operators or investors seeking proven production and lasting value.