Dallas investor and conservationist J. Luther King has expanded his family’s ranch holdings in Texas with the purchase of a 5,067-acre property in McCulloch County, known as the San Saba River Ranch. This acquisition marks the first time since 1898 that the land has changed family ownership.
The property features a mile-long stretch of the San Saba River, which flows year-round, and includes a dam that forms a six-acre reservoir. Two other tributaries of the river also cross the land, which is located about an hour from San Angelo. The ranch contains a four-bedroom, four-bathroom stone house and a skeet shooting range.
According to listing details, much of the underbrush on the property was cleared by the seller to leave scenic hardwoods and promote game population growth. The sale price was not disclosed, but it was listed for $22.8 million—about $4,500 per acre. The Haynes Team with Triangle Realty co-listed the property alongside Dullnig Ranch Sales.
Dullnig Ranch Sales owner Robert Dullnig commented on current market trends: “Proximity to metropolitan areas drives a lot of it, so when you get into some areas that are over two hours away, and you don’t have the live water or the big whitetail, those properties are probably taking a little longer to sell.”
J. Luther King is also known as founder of Luther King Capital Management Corporation based in Dallas. His family now owns more than 100,000 acres across six Texas counties, including notable properties such as 4K Livermore in the Davis Mountains and 4K Brady Creek Ranch.
Despite these extensive holdings, the Kings remain about 200,000 acres short of being among Texas’ top ten largest landowners—a list led by Texas Pacific Land Corporation and ending with commodities broker Mike Smith at 323,000 acres.
