Aspen Ridge Ranch | Fay Ranches

ASPEN RIDGE RANCH

Bly, Oregon $12,000,000 3,598.37± Acres

INTRODUCTION

Seven lakes and reservoirs with established senior water rights anchor Aspen Ridge Ranch in southcentral Oregon, creating a level of control and operational stability that is increasingly difficult to secure. Spanning 3,598.37± deeded acres near Bly, the ranch is built for a buyer who values privacy, reliable production, and the ability to operate independently across seasons.

The property supports a proven cattle operation, combining deeded ground with an adjoining U.S. Forest Service allotment to create scale and flexibility for seasonal grazing. Timbered ridges, open meadows, and well-distributed water sources allow for efficient livestock movement while also sustaining strong wildlife presence, including elk and mule deer. Fishhole Creek and multiple impoundments further enhance both habitat and on-ranch recreation.

Improvements are designed to support ownership use plus guest accommodations, without compromising functionality. A 7,000± square foot log lodge serves as the central hub for gatherings, complemented by five additional log cabins and a historic manager’s residence. The layout accommodates staff, guests, or multi-generational use while maintaining separation from core ranch operations. A hydroelectric system with propane backup provides dependable power for off-grid living.

Beyond its operational strength, the ranch offers year-round recreation, including on-site fishing, big game hunting, riding, snowmobiling, and cross-country skiing. Crater Lake National Park, Warner Canyon Ski Area, and Gearhart Wilderness are easy destinations for day trips. Held by the same family since 1975, Aspen Ridge Ranch reflects long-term stewardship and practical investment in land, water, and infrastructure—positioning it as a capable working ranch with luxurious owner and guest accommodations, plus the added benefit of privacy and self-reliance.

QUICK FACTS

• 3,598.37± deeded acres with adjoining 11,718± acre U.S. Forest Service grazing allotment

• Senior water rights on seven lakes and reservoirs. Fishhole Creek flows the length of the ranch

• Supports 800± cow equivalents. Corral with custom steel crowding alley and loading chute, certified livestock scale

• 692 AUMs permitted on adjacent U.S. Forest Service allotment

• 7,000± SF log lodge with commercial kitchen, guest suites, and meeting space

• Five 1,250± SF log cabins plus a historic manager’s cabin for staff or guest housing

• Hydroelectric power system with propane generator backup for reliable off-grid operation

• Diverse terrain, including timbered ridges and productive meadow ground for grazing and habitat

• Consistent wildlife presence, including elk, mule deer, pronghorn antelope, bear, waterfowl, and trout

• On-ranch amenities include a private lake with a dock, a tennis court, and a roping arena

• Held and improved by the same ownership since 1975, with long-term stewardship

ACREAGE

• 3,598.37± deeded acres

• 11,718± USFS leased acres

• 15,316.37± total acres

The 3,598.37± deeded acres are configured for both productivity and control, combining timbered ground with open meadows that support strong seasonal grazing. Native grasses, reliable water distribution, and a practical layout allow for efficient livestock management across the ranch. Fishhole Creek runs through the property, supplemented by multiple developed water sources that extend grazing use and reduce pressure on any single area.

The operation extends beyond the deeded boundary into an adjoining 11,718± acre

U.S. Forest Service allotment, permitted for 692 AUMs, providing additional scale and flexibility during the grazing season. The ranch headquarters sits at approximately 5,400 feet in elevation, offering a central, functional base for both operations and dayto-day oversight.

SCENIC VISTAS

From the lodge and cabin decks, the land opens across irrigated and sub-irrigated meadows that follow Fishhole Creek through the center of the ranch. In spring, green forage fills the valley floor, and wildflowers emerge across the lower ground, while the surrounding timbered ridges frame the view and define the ranch’s boundaries. The orientation provides clear sightlines across the working landscape, allowing an owner to watch livestock movement, water distribution, and seasonal changes from a single vantage point.

IMPROVEMENTS

The improvements are designed to support both large groups and day-to-day ranch operations, giving an owner flexibility in how the property is used—from private family use to hosted retreats or business gatherings. The 7,000± square foot log lodge serves as the central hub, with four hotel-style suites featuring ensuite baths, additional staff accommodations, and a private owner or manager’s quarters. A commercial kitchen, dining area, conference room, and bar create a functional setting for hosting, while direct access to expansive decks keeps the focus on the surrounding landscape.

Five additional 1,250± square foot log cabins expand lodging capacity, each offering two bedrooms, a kitchen, and an open living area. These are well-suited for guests, staff, or extended family, allowing multiple groups to stay comfortably without impacting the core residence.

Power is generated by an on-site hydroelectric system producing up to 20 kW, with three propane generators for redundancy.

Operational infrastructure is in place to support the ranch’s working component, including a barn, corrals, and cattle loading facilities located near the preserved original cowboy cabin. The layout separates lodging from livestock operations, allowing both to function efficiently without overlap.

RECREATION

Recreation is built into the ranch’s daily use. Ride or drive along Fishhole Creek as it moves through the center of the property, or spend the afternoon fishing nearby reservoirs and on-ranch waters. A small lake with a floating dock supports both fishing and swimming, while a roping arena and tennis court add to the range of on-site activities. Whether managing cattle, hosting guests, or stepping away for a few hours outside, the ranch offers access to the outdoors without leaving the property.

FISHING

Fishhole Creek runs through the ranch for miles, offering fishing for native redband and brown trout. Nearby reservoirs on USFS land offer fishing for stocked rainbow. Regional waters, including the Williamson, Wood, and Sprague Rivers, expand the experience, giving anglers a range of fisheries to enjoy throughout the season.

HUNTING | WILDLIFE

Wildlife moves naturally between the ranch and the surrounding Fremont-Winema National Forest, with elk and mule deer regularly crossing through timbered ridges and meadow corridors. The mix of forest, sage, and open ground supports strong populations and creates multiple vantage points for glassing or hunting during regulated seasons. The ranch should qualify for four Landowner Preference (LOP) tags. A prospective purchaser should verify with the Oregon Department of Fish and Wildlife (ODFW).

AGRICULTURE

Aspen Ridge Ranch operates as a longestablished, low-overhead cattle outfit built on reliable grass, water, and access to seasonal range. The ranch utilizes 3,598.37± deeded acres supported by an adjoining 11,718± acre U.S. Forest Service allotment permitted for 692 AUMs, allowing for a scalable grazing program across spring, summer, and fall. Sub-irrigated and flood-irrigated meadows provide consistent forage without the need for pumping, keeping input costs predictable and operations efficient.

The ranch has supported 800± cow equivalents seasonally for decades, with a program designed around cow/calf production and yearling development: 500± cows, 20± bulls, and 450± yearlings. Large, contiguous meadows form the core of the grazing system, with additional fields and holding pastures supporting rotation and cattle movement. Water is well distributed across the ranch, reducing pressure points and allowing for balanced use of the ground.

The proximity to California winter pasture provides a practical advantage, allowing cattle to remain on grass year-round rather than relying on stored feed. Combined with strong water resources, established infrastructure, and efficient pasture layout, Aspen Ridge Ranch offers a system that is both functional and repeatable—suited for an owner looking to continue a proven operation or adjust it to a new program.

AREA HISTORY

Aspen Ridge Ranch lies near the town of Bly, a community shaped by both early Indigenous presence and a long tradition of Western ranching. The name “Bly” is derived from the Klamath word “p’lai,” meaning “up” or “high,” referencing its position along the upper reaches of the Sprague River. By the early 1870s, cattle operations began to take hold in the surrounding meadows, establishing a pattern of land use that continues to this day.

Growth in the area accelerated with the arrival of the Oregon, California, and Eastern Railroad in 1918, which connected Bly to broader markets and reinforced its role as a regional ranching center. The surrounding Fremont National Forest, established in the early 1900s, further defined the landscape—preserving large tracts of timber and rangeland that continue to support grazing, wildlife habitat, and public access.

Today, the region reflects the same working foundation, where established ranches, managed forestlands, and open space remain central to both the economy and the area’s character.

NEARBY ATTRACTIONS & ACTIVITIES

Within a short drive, owners have access to some of southern Oregon’s most recognized outdoor destinations. Crater Lake National Park sits roughly 50 miles north, offering hiking, spectacular vistas, and seasonal access around the caldera, while Lava Beds National Monument lies about 30 miles southeast with extensive cave systems and high-desert terrain to explore.

Closer to the ranch, the Williamson, Wood, and Sprague Rivers provide consistent trout fishing across multiple stretches of water, giving anglers options throughout the season. In winter, Warner Canyon Ski Area is approximately an hour away for a fun day trip. Within a few hours, Mount Bachelor and Willamette Pass Ski Area offer additional terrain for winter recreation.

Aspen Ridge Ranch is positioned in south-central Oregon near Bly, between Klamath Falls and Lakeview, with access just south of Highway 140. The location places the ranch within a productive ranching corridor where large tracts, grazing permits, and dependable water resources continue to support long-standing operations.

Health services, schools, and daily needs are available in Lakeview, approximately 42± miles east, and Klamath Falls, approximately 75± miles west. Bend, about 180±miles northwest, offers expanded dining, retail, and air service.

For an owner, the benefit is straightforward: operational scale and privacy without isolation, supported by reliable road access and proximity to established service centers.

AIRPORT SERVICES

Commercial air service is available through Rogue Valley International–Medford Airport, approximately 160± miles from the ranch, and Roberts Field in Redmond, also about 160± miles to the north. Both airports offer rental vehicles and connections to major western hubs. For closer access, Klamath Falls Crater Lake Regional Airport is located roughly 55± miles west of the ranch. The airport features two runways: one measuring 10,302’ x 150’ and a second at 5,001’ x 75’, both maintained in good condition at an elevation of 4,091’. Lake County Airport near Lakeview, approximately 42± miles east, provides an additional option with a 5,318’ x 100’ runway at an elevation of 4,734’.

WATER RIGHTS

Domestic water for the lodge and cabins is supplied by a horizontal well that produced approximately 11 gallons per minute at the time of drilling. The system feeds a 10,000-gallon cistern above the improvements, providing gravity-fed delivery throughout the property. This engineer-designed system provides quality drinking water, has proven dependable over time and supports consistent, off-grid use.

Aspen Ridge Ranch controls a substantial and well-documented water portfolio totaling approximately 1,717.5 acre-feet of senior storage rights across seven reservoirs, along with surface irrigation rights covering 602.4 acres. These rights date from 1895 through 1959 and include key storage in Holbrook Reservoir (approximately 740 acre-feet), Big Swamp Reservoir (approximately 350 acre-feet), and Lofton Reservoir (multiple certificates totaling approximately 549.78 acre-feet). All are final certificates that define the associated rights served by stored water, providing clarity and long-term operational security.

Reservoir Storage Certificates:

• Certificate No. 9981 (Big Swamp Reservoir, Heart Lake, Lapham Reservoir, Lofton Reservoir)

• Certificate No. 10938 (Holbrook Reservoir)

• Certificate No. 11691 (Lapham Reservoir)

• Certificate No. 8277 (Lofton Reservoir)

• Certificate No. 40430 (Lofton Reservoir – fish propagation)

• Certificate No. 40431 (Lofton Reservoir – fish propagation release)

• Certificate No. 8689 (Unknown Reservoir)

• Lost River Decree (Arkansas Reservoir)

Surface & Stock Water Rights:

• Certificate No. 8170 (July 26, 1920)

• Certificate No. 8592 (July 26, 1920)

• Certificate No. 8593 (July 26, 1920)

• Certificate No. 8646 (January 27, 1927)

• Certificate No. 9981 (Priority years: 1886, 1887, 1893, 1895, 1898, 1907)

• Certificate No. 9993 (September 30, 1886)

• Certificate No. 10979 (May 27, 1930)

• Certificate No. 11722 (June 21, 1933)

• Decree Volume 18, Page 506 (December 31, 1902)

Several surface rights provide defined flow rates ranging from approximately 0.2 cubic feet per second to 6.28 cubic feet per second and are sourced from Fishhole Creek, Cold Spring Creek, and unnamed tributaries, supporting both irrigation and stock water across the ranch. Storage rights supplement natural flows, improving seasonal reliability and helping maintain downstream conditions. Many of these rights predate modern regulatory requirements, contributing to a more streamlined operational profile. While certain rights extend beyond the ranch, the acreages and volumes referenced here reflect only those appurtenant to Aspen Ridge Ranch.

Under Oregon law, all water is publicly owned. With some exceptions, cities, farmers, factory owners, and other users must obtain a permit or water right from the Water Resources Department to use water from any source, whether it is underground or from lakes or streams. Landowners with water flowing past, though, or under their property do not automatically have the right to use that water without a permit from the Department. The waters of Oregon are administered by the State of Oregon under a “prior appropriation” doctrine; first in time, first in right.

For a better understanding of the ranch’s water rights, it is recommended that a serious inquirer engage the services of a licensed certified water rights examiner.

CONSERVATION | STEWARDSHIP

Each of us at Fay Ranches loves the land and wants to see it remain a productive agricultural ground and a quality fish and wildlife habitat. Through promoting thoughtful land stewardship, Fay Ranches has guided owners toward a legacy of conserving wide-open spaces, enhancing and creating fisheries and wildlife habitats, and implementing sustainable agricultural operations. Fay Ranches is proud to say that since our company began in 1992, our clients’ conservation ethics and land-use practices have significantly enhanced our work landscape.

Seven lakes and reservoirs, backed by senior water rights, define Aspen Ridge Ranch, providing control and reliability that support both daily operations and long-term ownership. Across 3,598.37± deeded acres with adjoining Forest Service grazing, the ranch runs cattle through the seasons while offering privacy, off-grid power, plus a 7,000± square foot lodge and guest cabins. Mornings start on horseback or along Fishhole Creek, and evenings return to a retreat built for gathering, working, and staying connected to the land.

PRICE TERMS

$12,000,000 Cash

Conventional Financing 1031 Exchange

CONTACT NOTICE

This is an exclusive co-listing with Fay Ranches and Bentz Warner Ranchlands. Please contact Alex Robertson at (541) 420-2394 | arobertson@fayranches.com, Scott Hawes at (541) 419-0770 | shawes@fayranches.com or Scott Warner at (541) 977-6809 | scott@bwranchland.com to schedule a showing. An agent from Fay Ranches or Bentz Warner Ranchlands must be present at all showings unless otherwise noted or other arrangements are made. To view other properties we have listed, please visit our web page at www. fayranches.com.

Offer is subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by owner. Information regarding land classification, carrying capacities, maps, etc., is intended only as a general guideline and has been provided by the owners and other sources deemed reliable, but the accuracy cannot be guaranteed. Prospective purchasers are encouraged to research the information to their own satisfaction. TAXES $24,458.11

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