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Park Hill Apartments 815 Ranchero Rd 49 Unit Apartment Building $3,650,000 ($74,490/Unit) Kerrville, TX 78028
Investment Highlights
- Property has Maintained High Occupancy for Trailing 24 Months
- Minimal New Multifamily Development with Sub-3% Vacancy Driving 4-6% Annual Rent Growth
- Immediate Upside by Adding Washer/Dryer Sets to those Units to Achieve at Least $50/Month Premiums
- Commercial and Healthcare Hub Serving Seven-County Region 60 Miles Northwest of San Antonio
Executive Summary
Marcus & Millichap is pleased to present the exclusive listing of Park Hill Apartments a 49-unit multifamily asset in Kerrville, Texas. The property was built in 1977 and offers immediate cash flow with substantial value-add potential through strategic renovations and organic rent growth. The asset benefits from Kerrville's position as the economic hub of the Texas Hill Country, located just 60 miles northwest of San Antonio along the Interstate 10 corridor.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,650,000 | Building Class | C |
| Price Per Unit | $74,490 | Lot Size | 3.90 AC |
| Sale Type | Investment | Building Size | 34,825 SF |
| No. Units | 49 | Average Occupancy | 98% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1977 |
| Apartment Style | Garden |
| Price | $3,650,000 |
| Price Per Unit | $74,490 |
| Sale Type | Investment |
| No. Units | 49 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.90 AC |
| Building Size | 34,825 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1977 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
- Window Coverings
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Trash Pickup - Curbside
- Walking/Biking Trails
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 11 | - | - |
| 2+2 | 38 | - | - |
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Property Taxes
| Parcel Number | R13951 | Total Assessment | $1,604,071 |
| Land Assessment | $156,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,448,071 | Tax Year | 2025 |
Property Taxes
Parcel Number
R13951
Land Assessment
$156,000
Improvements Assessment
$1,448,071
Total Assessment
$1,604,071
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Park Hill Apartments | 815 Ranchero Rd
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