The River Run Villas presents a compelling income-producing investment opportunity in the Frio Canyon market. The property consists of four separately deeded townhomes on approximately 1.04 acres, all within walking distance of the Frio River. The established STR portfolio features four fully furnished 2-3 bedroom, 2-bath units, each approximately 1,100 square feet, offering multiple rentable units within one professionally managed property. Recent capital improvements include exterior paint, updated balcony railings, keyless-entry doors, new mattresses and furnishings, updated linens, pool equipment, kitchen appliances, water heaters, pool pump, HVAC improvements as well. An existing management structure handles bookings, cleaning, Airbnb operations, yard maintenance, and pool maintenance, creating a streamlined transition for a new owner. Guests also benefit from the property's pool, outdoor gathering areas, BBQ/picnic spaces, and designated covered parking. Beyond the current STR operation, the rear portion of the property offers notable value-add and expansion potential. The site configuration may lend itself to additional casitas or cabins, RV hookups, or a future event venue concept, subject to applicable approvals, utility capacity, permitting, and buyer due diligence. With established performance, four separately deeded residences, professional management already in place, Frio River proximity, and room for future expansion, River Run Villas offers investors a unique combination of current income, operational infrastructure, and long-term upside in the Frio Canyon tourism market.