3925 E San Miguel Street Colorado Springs, CO $ 2,400,000
3925 E San Miguel Street
$ 2,400,000
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3925 E San Miguel Street

Colorado Springs, CO, 80909
$ 2,400,000
Baths0.0 Sq 13,574

Monthly Estimate*

$ 15,951

Listed by Kaufman Hagan
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Studio

Commercial Property for sale in Colorado Springs, CO

for $2,400,000. This 13,574 square foot building was built in 1965 on a lot size of 0.55.

The Greenbriar Apartments is a meticulously maintained 16-unit apartment complex boasting a diverse unit mix of one- and two-bedroom units. Currently self-managed, the community presents a unique opportunity for new ownership to increase Net Operating Income (NOI) through rent adjustments, as long-term tenants on month-to-month leases are below nearby market comparables. Strategically located in the heart of Colorado Springs, residents enjoy quick access to Downtown, the Colorado Springs Airport, Citadel Shopping, and Palmer Park. The Greenbriar Apartments’ rent growth potential and prime location present an attractive investment opportunity for investors seeking both stability and value-add potential. 1. Strong unit mix: half are one-bed units and the other half are two-beds 2. Well-maintained asset with no Cap-Ex anticipated 3. Centrally located in Colorado Springs 4. Recently paved driveway leading to off-street parking lot 5. Current rents below nearby market comparables 6. All leases are month-to-month

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Commercial Pending

Price

$ 2,400,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 6,102

Style

Lot Size

0.55

Year Built

1965

Town/City

Colorado Springs

County/Region

El Paso

MLS | Web ID

9644578

Features
General
Sewer Public Sewer
Roof Unknown
Zoning R5
Garage Spaces 0
Construction Materials Brick
Year Built 1965
Stories 2
Property SubType Multi-Family
Tax Year 2022
Current Use Multi-Family
Gross Income 18059
County El Paso
Operating Expense 49978
Property Type Commercial Sale
Attached Garage N
Contingency None Known
Status Pending
City Colorado Springs
Buyer Agent Compensation 2.5
NumberOfUnitsTotal 16
Lot Size Units Square Feet
Lot Size Square Feet 23949
Carport Spaces 0
Street Name San Miguel
Listing Terms Cash Conventional
Tax Annual Amount 6102
Standard Status Pending
Occupancy Type Owner
Cap Rate 5.8
Buyer Agent Compensation Type %
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Exterior
Total Parking 16
Lot Size Area 23949
Building Area Total 13574
Lot Size Acres 0.55
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Interior
Street Suffix Street
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Internal Only
Street Number 1 3925
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* Excluded Features
List By
Kaufman Hagan

Broker

(650) 740-9570

Phone

Affordability Calculator

$16,460
Per Month
97%
3%
0%
Monthly Principal & Interest
$15,951
Monthly Property Taxes
$509
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
242254 Elementary School
242425 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
5/7/2024$2,400,000 Listed Price

Map


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3925 E San Miguel Street, Colorado Springs, CO, 80909 is a Commercial Property for sale at $2,400,000 with 13,574 sqft and a lot size of 0.55. 3925 E San Miguel Street is a studio with 0.0 baths and was built in 1965. The property's zip code is 80909 which is in Colorado Springs, CO