MAJOR PRICE IMPROVEMENT! Discover a rare opportunity to own a multi-generational gentlemen's ranch and thriving investment property on 10 acres of unrestricted Texas Hill Country land. Currently operating as a short-term rental and event venue, this estate is equally suited as a private family compound or income-generating retreat. Behind the gated entrance, three distinct residences create endless versatility for hosting, entertaining, or private living. Together, they offer 7 bedrooms, 6 baths, multiple kitchens and dining areas, and expansive gathering spaces. The Main Ranch House blends Hill Country charm with modern comfort, featuring 4 main-level bedrooms (including 2 suites), a loft, and 3 bathrooms. A two-story Guest House provides a separate kitchenette, dining area, and upstairs suite with bedroom, bath, and sitting area. The third residence serves as an entertainment lodge, complete with a two-room game house and bar on the main level and a full upstairs suite with kitchen, dining, and living space. Outdoors, enjoy resort-style amenities including a heated pool with cascading water features, a gazebo, fenced garden, and ample outdoor living areas framed by rolling terrain and panoramic Hill Country views. Additional outbuildings provide storage, workshop space, and flexible utility. With proven income from Airbnb/VRBO and event rentals, plus no HOA or deed restrictions, this property stands out as both a legacy estate and a premier investment in the heart of Lake Travis ISD. Just minutes from Highway 71 and an easy drive to Austin, it's a one-of-a-kind lifestyle opportunity in Spicewood.