Contacts
Tom Hackleman
eXp Commercial
Property Details
- Property Type Multi-Family
- Property Size 9,718 SF
- Units 9
- Lot Size 2.71 Acre
- Property Tenancy Multi-Tenant
- Year Built 1994
- Year Renovated 2023
- Date Updated Jun 25, 2026
Located half a mile north of Hwy 46 on Old Boerne Road, Victorian Oaks is less than one mile from the Hwy 46 retail corridor — HEB, Walmart, and Singing Hills Shopping. San Antonio, New Braunfels, Boerne, and Blanco are all within 30 minutes, making this a central Hill Country location with broad tenant appeal.
Adjacent to Bracken Christian School. Easy access to major San Antonio employment centers including the South Texas Medical Center corridor and JBSA.Victorian Oaks Apartments is a rare, fully furnished 9-unit multifamily property in the heart of Bulverde, Texas — one of the fastest-growing communities in the greater San Antonio metro. Every unit is completely furnished, move-in ready, and includes all utilities: electricity, LP gas, water/sewer, fiber optic internet, centrally softened water, and garbage service. This is not a typical multifamily offering.
The property consists of a 3-bedroom/3-bath Main House with a private pool and waterfall, plus seven individual apartment units ranging from one to two bedrooms. The unit mix includes long-term leased units and short-term rental inventory, giving a new owner flexibility to optimize the income strategy. Select units feature EV charging, Jacuzzis, outdoor gas grills, and covered patios.
The property has maintained high occupancy over the past three years and generates a current NOI of $117,547 at a 6.72% cap rate. Four units are currently leased below their listed market rates, representing approximately $16,200 in annual rent upside available through standard lease renewals — no capital required.
Additional land capacity on the property supports up to three more units.
1031 exchange buyers, private investors, and owner-operators are all well-suited for this asset. Serious inquiries only. Tours by appointment.
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Highlights
- $16,200 annual rent upside on 4 below-market units — no capital required
- 1031 exchange ready
- 30 minutes to San Antonio, New Braunfels, Boerne, and Blanco
- 3-year track record of high occupancy in supply-constrained submarket
- 6.72% cap rate | $117,547 NOI | $1,750,000 asking price
- 9 fully furnished units — turnkey for LTR or STR, no FF&E investment required
- All utilities included in every lease — electricity, LP gas, water/sewer, fiber optic internet, softened water, garbage
- Less than 1 mile to HEB, Walmart, and Hwy 46 retail
- Main House with private pool, 3BR/3BA — premium anchor unit
- Value-add land capacity for up to 3 additional units
Attachments
Getting around
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41/100
Walk Score ®
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30/100
Bike Score ®
Powered by Walk Score ®
Location
- City Bulverde, TX
- Zip Code 78163
- Market San Antonio
Points of Interest
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H-E-B Fuel
0.33 miles
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Walmart
0.71 miles
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Chevron
3.59 miles
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QuikTrip
4.02 miles
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Shell
4.08 miles
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Valero
5.80 miles
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Exxon
6.83 miles
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Hampton
0.94 miles
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JW Marriott San Antonio Hill Country Resort & Spa
8.95 miles
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H-E-B plus!
0.23 miles
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Walmart Supercenter
0.58 miles
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Bergheim General Store
9.20 miles
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Target
9.76 miles
Contact Listing Broker
Tom Hackleman
eXp Commercial