3925 E San Miguel ST Active Save Request In-Person Tour Request Virtual Tour
Colorado Springs,CO 80909
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 13,574 sqft
Price per Sqft $165
MLS Listing ID 9297887
HOA Y/N No
Year Built 1965
Annual Tax Amount $8,750
Tax Year 2024
Lot Size 0.550 Acres
Acres 0.55
Property Sub-Type Multi Family
Source recolorado
Property Description
Oakwood Bend is a well-maintained 16-unit in a strong Colorado Springs submarket with built-in upside. The property offers a desirable unit mix, with over 50% of the units configured as two-bedrooms—highly sought after in the local rental market. Most leases are currently month-to-month, providing operational flexibility for a new owner to implement rent increases and utility reimbursements. Notably, recently signed leases are achieving strong rental rates, demonstrating clear proof-of-concept for continued revenue growth.
Strategically located just 10 minutes from downtown and within walking distance of the Citadel Mall + surrounding shopping centers, the property offers residents exceptional convenience. Multiple grocers—including Walmart SuperCenter—are only a short drive away, and the asset is near the area's primary thoroughfares, ensuring strong renter demand and connectivity.
Recent capital improvements include a newly repaved and re-striped off-street parking lot, a fully remodeled exterior with re-stained brick, completely upgraded common areas. The property is equipped with double-pane vinyl windows, in-unit thermostats for tenant-controlled heating, and individual electric meters with direct tenant billing. Additional amenities include on-site laundry, 24-hour access with security cameras, and a 1:1 parking ratio. With clear operational upside through RUBs implementation and lease-up at market rents, the asset offers both immediate cash flow and long-term value growth.
- Desirable unit mix with 9 2-bed units, 7 1-bed units
- Latest lease figures are strong, proving value-add and operational upside
- Most leases are mtm (9 of 16), offering flexibility for repositioning
- Exterior fully remodeled, including re-stained brick façade
- Off-street parking lot recently repaved and re-striped
- All units have new GE 100-amp electrical panels
- Opportunity to implement RUBs to recover utility costs and enhance NOI
- Seller Financing also available
Location
State CO
County El Paso
Zoning R5
Interior
Fireplace N
Exterior
Roof Type Unknown
Total Parking Spaces 16
Garage No
Building
Sewer Public Sewer
Structure Type Brick
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional