1 / 335-Unit Multifamily in Bandera, TX
Bandera County, TX · listed Feb 5, 2026 (264 days)
- $/unit
- $13,426
- ▼ 87% vs TX · 0th pct
- Cap rate
- 9.4%
- ▲ 2.0 pts vs TX median
- NOI
- $44K
- $1,257/unit/yr
- Units
- 35
- 8 bldg · 2017
Financials
- Asking price
- $469,900
- Price per unit
- $13,426
- Price per sq ft
- $4
- Gross rent / year
- $67,575
- Net operating income
- $44,008
- NOI per unit
- $1,257
- Cap rate
- 9.4%
- Gross yield
- 14.4%gross rent ÷ price
- Occupancy
- 64%
As stated by the seller. Verify during due diligence.
Building
- Units
- 35
- Unit mix
- 16 full-hookup 20/30/50-amp RV sites, 2 tent sites (1 with 20-amp)
- Buildings
- 8
- Year built
- 2017
- Building size
- 122,839 sq ft
- Avg unit size
- 3,510 sq ft
- Lot size
- 2.82 acres
- Condition
- Value-add
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Feb 5, 2026
- Days on market
- 264 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 1844
About this property
The Medina River Retreat: High-Yield Investment Meets Hill Country Serenity
Unlock a rare 9.37% pro-forma cap rate at year 1 (currently at 6+%) with a clear path to 18.25% pro-forma returns (no CapEx needed).
Simple upside adjustments include:
- Accept short-term guests (current operator doesn't allow short-term stays)
- Enable online booking (reservations are currently handled by phone and in person meetings)
- Increase average stay rates (current park rates are 28% below competition)
2.82-acres nestled in the prime Texas Hill Country corridor between San Antonio and Bandera, Medina River RV Park & Camping offers the perfect blend of rustic escape and modern convenience. This meticulously maintained property spans 16 full-hookup 20/30/50-amp RV sites, 2 tent sites (1 with 20-amp), and expansion potential for at least 15 more RV sites—all tucked away just across the road from the tranquil banks of the Medina River (park is not in a flood zone).
The Infrastructure Advantage
Unlike many rural parks, this site is built for durability and ease of use. It is a "turnkey" dream designed for remote management:
- Redundant Utilities: Dual water sources (City & Well) and fiber-optic internet.
- Permitted Systems: 6 conventional septic systems and 6 metered electrical poles.
- Premium Amenities: Extra-wide sites, mature privacy trees, on-site laundry, shower/restroom facilities, community pool, and exclusive riverfront access via the community Pecan Bottom Park.
Untapped "Value-Add" Potential
The property has been passively managed for years, leaving a massive "buy-and-build" opportunity on the table for the next owner:
- Immediate Expansion: Space already available to add 6 additional RV sites.
- Revenue Optimization: Boost NOI instantly by implementing online bookings, market-rate adjustments, monetizing firewood, laundry, and Wi-Fi, and leasing the additional sites.
- Diverse Income: A steady mix of cross-country travelers, weekend vacationers, and long-term residents ensures year-round occupancy.
Operational RV Park: 16 Full-Hookups | 2 Camp Sites | Expansion Potential
Highlights
9.37% Pro-Forma Year 1 Cap Rate (currently at 6+%) with an achievable 18.25% requiring no CapEx
Medina River RV Park & Camping is The Hill Country RV Park in Bandera, Texas!
Stop looking for "value-add" and start with this cash flowing park that offers significant upside. This turnkey, RV park between San Antonio and Bandera features 16 20/30/50-amp full-hookup sites, 2 tent sites (1 with 20-amp), dual water sources, fiber internet, and access to a community pool and exclusive riverfront park known as Pecan Bottom Park. With 6 cleared additional sites ready to be added (land allows for 15+ more sites when space utilization is optimized) and passive management ripe for optimization, the growth potential is massive. Secure a cash-flowing asset in Texas’s most popular corridor.
- Robust Infrastructure Floor: Dual water sources (municipal and private well) and fiber-optic connectivity provide a competitive utility moat that is rare in rural Hill Country assets.
- Expansion-Ready Footprint: Immediately increase your inventory and NOI by developing the 6 additional pre-planned RV sites without the need for extensive land acquisition.
- Management "Quick Wins": Massive upside available through minor operational shifts such as implementing online booking, allowing short-term guests, and increasing the average stay rate while still being priced under competitors.
- Built-in Diversification: A recession-resistant mix of short-term vacationers, cross-country travelers, and long-term residents ensures consistent occupancy across all seasons.
- Optimized for Remote Ownership: Meticulously designed for ease of maintenance and minimal on-site oversight, making it an ideal "armchair" investment or a portfolio addition.
- Strategic Septic Capacity: Six permitted, conventional septic systems are already in place, significantly reducing future capital expenditure and regulatory hurdles for expansion.
- Ancillary Revenue Streams: Untapped potential to monetize high-demand guest services, including on-site laundry, firewood sales, and premium Wi-Fi packages.
- Option For Riverfront Retreat, Short-Term Rental, & Barndominium/Workshop: for an additional $310,000, add a highly equipped retreat complete with multiple living and entertainment areas on Medina River frontage (Zillow listing - click here)
- Prime Transit Corridor: Positioned perfectly between the high-growth San Antonio metro and the tourist-heavy Bandera "Cowboy Capital," capturing high-volume traffic from both markets.
Seller Finance Terms:
- $470,000 Purchase Price
- 30% down payment
- 7.5% interest
- 20-year amortization
- 5-year balloon
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
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|---|---|---|---|
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