Homes for sale - 3925 E San Miguel ST, Colorado Springs, CO 80909

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Jennifer Berg

jennifermberg@icloud.com +1(720) 272-1171

$2,160,000

Est. payment - /mo

13,574 SqFt

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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 $159

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

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Listed by Kaufman Hagan

I'm Jennifer Berg, a Colorado Real Estate Broker with over 18 years guiding buyers in the Denver Metro area. Whether you are a first-time home buyer or seasoned investor, I'll dedicate myself to building a working relationship to make the process smooth and enjoyable.

I am Vice Chair at South Metro Denver REALTOR Association Young Professionals Network. Staying involved with other professionals in the industry allows me to keep current on market trends and connect you with my network of sellers.

+1(720) 272-1171

jennifermberg@icloud.com

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