How much would it cost me to build a four-plex apartment building

[Allan Tamez]

How much money would it cost to build a four plex from scratch? I already have an acre of land but I would need the permits, materials, plans, etc...

I live in the Denver area.

[Bill S.]

It really depends on where you are building. In some locations water and sewer taps are fairly cheap. In others, just getting water could be $60K per unit. 

4 units on one acre is a waste of land. You will have a tough time finding 1 acre. It's a fairly large lot. You should be able to build your product on half an acre quite comfortably. 

It is really tough to find the piece of land you are describing unless you are on the fringe. Zoning has most development scripted and 4 unit properties is not a part of most current zoning concepts. Also renting your units for less than $1/sq ft is way on the low end. Even middle of the road new property should fetch about $1.50/sq ft. Not too many 1,100 sqft units renting for less than $1,500 per month. 

It think the land and soft costs should be something you get your arms around. Those are all very location specific. My bet is that you need more money for those than you have currently planned.