Colorado Springs Multifamily Investment
For Sale
$2,160,000
3925 E San Miguel Street, Colorado Springs, CO 80909
Well-maintained 16-unit apartment building with value-add potential near downtown.
Property Size13,574 SF
Price / SF$159.13
Days on Market513
Property Features for 3925 E San Miguel Street
General Information
Standard status
Active
Size
13,574 SF
Site & Location
Neighborhood
Rustic Hills
Taxes and HOA fees
Annual Taxes
$8,750
Building Details
Year Built
1965
Listing Agency:
KAUFMAN HAGAN
Listed By:
ANDREW VOLLERT · License #FA100097790
(650) 740-9570
Source:
Corcoran
Added: May 29, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$164,764
Cap Rate
7.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,295,280
$3.3M
Cap Rate 7%
$2,353,771
$2.4M
Cap Rate 9%
$1,830,711
$1.8M
Market Conditions
NOI Build-Up for 13,574 SF
Gross rent
$316.0K $23.28/SF
− Vacancy
−$16.4K −$1.21/SF
EGI
$299.6K $22.07/SF
− OpEx
−$134.8K −$9.93/SF
NOI
$164.8K $12.14/SF
Area
Colorado Springs, CO
Vacancy
5.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,295,280
Cap Rate 7%
$2,353,771
Cap Rate 9%
$1,830,711
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 authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
Explore this area
Business Placement
Demographics for 80909, CO
37,302
Population
16,572
Households
2.3
Avg Household Size
38
Median Age
28%
College-Educated
92%
High-School Grad
7.9 sq mi
ZIP Area
4,722
Density / Sq Mi
$61,777
Median Household Income
$36,894
Median Earnings
$1,227
Median Rent
$352,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
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.
