3925 E San Miguel Street

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