Help me estimate the rehab cost on this 4-plex!

[Account Closed]

Pictures can be found HERE... Listed for 80k.

It's a 4-plex. 5bd, 4 bath. 3000 sq ft located in Duluth MN. This has been on the market for over 6 months and started out at 150k asking price. So seller is obviously looking to sell since they have come down in price by more than half.

My problem is that I don't have any idea how much it would cost to get this property up to c class rental unit standards. 10k? 20k?

[Dustin Beam]

I will be the first to tell you I don't have all the answers to this, but I'll help as much as I can. I have 3 fourplexes with basically 900 sqft apartments.

My "rehabs" so far are basically re-paint (walls, not trim), do minor repairs, replace carpet w/ LVT (about 650 sqft), replace carepet on stairs, and replace the countertops w/ pre-fab laminate tops from big box hardware stores.

Materials and labor come in around $4500/unit when I do that. 

Big kitchen or bathroom renovations will drive that cost way up. Labor and material cost could be way different for you than me (good or bad), so take my number with a grain of salt.