Los Angeles Construction Costs

[Thomas Alexander]

Since buying a multi-family in Los Angeles is ridiculous from a cash-flow standpoint, I am looking to possibly develop additional units on the same lot. I have expanded my search to look for properties that are on a larger lot with room and zoned to expand. I talked with some contractors and they said that it is usually $80/sf to build an additional 4 unit on the same lot. To me this seems low which I am assuming is for a grey shell building. Is it more reasonable to assume it costs $160/sf to build instead(everything included)?