I saw this on VHS in the original Japanese, subtitled to English, in the 1990s, on a tape my brother brought back from college. On that tape, or others he brought, was The Fuma Conspiracy and some episodes of Kimagure Orange Road. The protagonist is a high school female who fights demons, and has to deal with an incursion at her high school, which is set in roughly contemporary times. I don't think that most people had access to any sort of magic or powers. She had long hair and wore a school uniform. I think she had a romantic interest who was in sports (basketball, I want to say) and there was another female with short hair (blond?) who was a cheerleader (I think she was wearing her cheerleading outfit), who tried to seduce said love interest by removing her top when they were alone. The demons themselves were on the ridiculous side of things, grotesquely colored and shaped, with themed attacks, although the only two I distinctly recall was one employing a large amount of thorned vines (and I want to say he had a stereotypical European accent, maybe French or Italian, with a lot of gratuitous English, or maybe speaking in another European language with subtitles) and another being a pair of female demons who employed an attack based on breasts (with a ridiculous shouted name) that my brother pointed out was supposed to be a riff on Sailor Moon and Sailor Uranus's Star Gentle Uterus attack. I want to say there was something in that scene where that attack, or the deflection thereof, had someone thrown into a convenient soccer net.
I think that the heroine actually fails in preventing the demonic invasion, but I do remember it ended with the demons and humans co-existing peacefully, with scenes of them walking side by side.
I vaguely recall that the love interest (and maybe the female friend who tried to seduce him) had their own attempts at using themed attacks, shouting out the name while doing something mundane like throwing balls or ribbons at the demons.
It did not feel episodic. It might have been movie-length, but I think it was more of a "single episode OVA", maybe 30-45 minutes at most.