Ballparking Estimates for MultiFamily:- How do you do it?!!!!

[Ugochukwu Opara]

Ballparking estimates for MultiFamily:

Moderate rehab: $20 to $25 per square foot

Substancial rehab: $35 to $40 per square foot

Gut rehab: $55 to $70 per square foot

What are your thoughts?

[Roy N.]

You bring along a contractor or engineer who is experienced with the type of building and construction ... I still do that today! I am fairly confident in estimating the reno efforts within the individual units but when you start looking at the structural integrity of the building itself and some of the systems (HVAC, electrical, fire suppression, etc) which can be quite different than what you encounter in a smaller building, hire a professional.

This is one of the reasons you have a longer diligence periods on commercial / multi buildings.