Colorado Springs Multifamily Investment
3925 E San Miguel Street Colorado Springs, CO 80909
3925 E San Miguel Street, Colorado Springs, CO, 80909
$2,160,000
For Sale
$2,160,000
Well-maintained 16-unit apartment building with value-add potential near downtown.
Property Size13,574 SF
Price / SF$159.13
Days on Market419
Property Features for 3925 E San Miguel Street
General Information
- Standard status
- Active
- Size
- 13,574 SF
Building Details
- Year Built
- 1965
Listing Agency
KAUFMAN HAGAN
(650) 740-9570
Listed by
ANDREW VOLLERT · License #FA100097790
Source
Corcoran
Added: May 29, 2025 Updated: Mar 16 at 9:09 am Checked: Mar 16 at 9:09 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KAUFMAN HAGAN
Investment Insights
Based on property information with market context.
Oakwood Bend is a 16-unit apartment building located in Colorado Springs. The property features a unit mix with over 50% of the units configured as two-bedrooms. Most leases are currently month-to-month, providing flexibility for a new owner to implement rent increases and utility reimbursements. Recently signed leases are achieving strong rental rates. The property is located 10 minutes from downtown and within walking distance of the Citadel Mall and surrounding shopping centers. Multiple grocers, including Walmart SuperCenter, are a short drive away, and the asset is near the area’s primary thoroughfares. Recent capital improvements include a newly repaved and re-striped off-street parking lot, a fully remodeled exterior with re-stained brick, and 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. The property has 9 two-bedroom units and 7 one-bedroom units. All units have new GE 100-amp electrical panels. There is an opportunity to implement RUBs to recover utility costs and enhance NOI. Seller Financing is available. The property size is 13574 square feet.
Key Highlights
- Strong rental upside with month‑to‑month leases and recently signed leases achieving high rental rates.
- Desirable unit mix with over 50% two‑bedroom units.
- Prime location: Just 10 minutes from downtown and walking distance to Citadel Mall and shopping centers.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $316.0k | $23.28 |
| − Vacancy | −$16.4k | −$1.21 |
| EGI | $299.6k | $22.07 |
| − OpEx | −$134.8k | −$9.93 |
| NOI | $164.8k | $12.14 |
13,574 SF · lease $23.28/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.35M
$2.06M – $2.75M
NOI $164,764 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.68M
$2.35M – $3.13M
NOI $187,647 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Greenbriar Apts
Corporate Office
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Well-maintained 16-unit apartment building with value-add potential near downtown.
Where is this apartment building located?
The property is located at 3925 E San Miguel Street Colorado Springs, CO.
What is the asking price?
The asking price for this property is $2,160,000.
What are key features of this property?
This property features: Strong rental upside with month‑to‑month leases and recently signed leases achieving high rental rates.; Desirable unit mix with over 50% two‑bedroom units.; Prime location: Just 10 minutes from downtown and walking distance to Citadel Mall and shopping centers.
