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San Miguel East Apartments 3611 E San Miguel St 24 Unit Apartment Building $4,325,120 CAD ($180,213 CAD/Unit) Colorado Springs, CO 80909

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INVESTMENT HIGHLIGHTS

Under Market Rents, Immediate Opportunity to Increase Rents to Market Rate
Opportunity to Implements Rubs of $75-$100 Per Unit

Convenient Location in Central Colorado Springs Near North Academy Corridor
Value Add Opportunity with Recent Capital Expenditures Including Renovations to 60% of the Units and a New Water Heater

EXECUTIVE SUMMARY

Cushman & Wakefield is pleased to present the San Miguel East Apartments, an exceptional multifamily investment opportunity located at 3611 E San Miguel Street in Colorado Springs, CO. This 24-unit complex is ideally situated near North Academy Boulevard, offering a combination of strong rental demand, convenient access to shopping, dining, and entertainment, and significant potential for growth. Whether you’re an experienced investor or new to the market, this property presents an outstanding chance to acquire a well-maintained asset poised for both immediate cash flow and long-term value appreciation.
The San Miguel East Apartments feature a mix of 21 one-bedroom units and 3 two-bedroom units including renovated kitchens, cabinets, LVP flooring, and bathroom. Currently, 60% of the property has been renovated, with many units already benefiting from substantial upgrades. These renovations have introduced modern layouts designed to maximize both space and comfort, enhancing the property’s overall appeal. For investors, this offers a unique opportunity to capitalize on existing improvements, while adding minimal upgrades to unlock additional value. In addition to its immediate income potential, The San Miguel East Apartments present significant long-term growth prospects. The completed renovations provide a strong foundation for investors to capitalize on Colorado Springs’ growing popularity and the ongoing demand for rental housing.
Colorado Springs has become a rapidly growing market, driven by a robust job sector, an expanding economy, and a steadily increasing population. This growth has fostered a consistent demand for rental properties, particularly in neighborhoods like the one surrounding The San Miguel East Apartments. The property’s proximity to major shopping centers, restaurants, and recreational areas ensures continued tenant demand and stable occupancy rates. For investors, this area’s strong economic outlook and thriving rental market create a reliable environment for sustained income generation and long-term profitability.

PROPERTY FACTS

Price	$4,325,120 CAD	Building Class	C
Price Per Unit	$180,213 CAD	Lot Size	0.50 AC
Sale Type	Investment	Building Size	16,782 SF
Sale Condition	1031 Exchange	Average Occupancy	96%
No. Units	24	No. Stories	3
Property Type	Multifamily	Year Built	1969
Property Subtype	Apartment	Parking Ratio	1.46/1,000 SF
Apartment Style	Low-Rise	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R5/CR, Colorado Springs

Price	$4,325,120 CAD
Price Per Unit	$180,213 CAD
Sale Type	Investment
Sale Condition	1031 Exchange
No. Units	24
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.50 AC
Building Size	16,782 SF
Average Occupancy	96%
No. Stories	3
Year Built	1969
Parking Ratio	1.46/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R5/CR, Colorado Springs