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$ 2,240,000
Est. payment /mo
Active
3925 E San Miguel ST Colorado Springs, CO 80909
13,574 SqFt
UPDATED:
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
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
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listed by Kaufman Hagan