3925 E San Miguel Street

Oakwood Bend is a well-maintained 16-unit multifamily property 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 and surrounding shopping centers, the property offers residents exceptional convenience. Multiple grocers—including Walmart SuperCenter—are only a short drive away, and the asset is positioned 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