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Updated over 9 years ago,
Costs for Kitchens & Baths - Quick Analysis
Hi Everyone,
I'm relatively new to BP but not to real estate investing. My forte is really in commercial real estate, but what's driven me to BP to learn more is a newer interest in investing in MF. I've been pleasantly surprised by the passion and diligence of so many using this tremendous resource.
I've bought the book on estimating, and have started it, but obviously vis a vie this question haven't completed it yet. No sooner than starting to read it I ran across a deal where I need to move quickly. Hence this question.
I'm underwriting a deal now that has some deep issues and was hoping to get some feedback on rough costs for kitchens and baths for a MF building. The building has been stripped and the former owner ran out of money so the units are void of kitchens and baths (and a bunch of other stuff too, but thats a separate issue we have a handle on).
I would be grateful if the community would chime in and provide a rough estimate to install new kitchens and baths for the following units:
(2) SFR 4bd 2ba
(6) Units 2bd 1ba
(7) Units 1bd 1ba
The work will require everything cabinets, sinks, tubs, showers, and toilets (please if possible specify whether you're including flooring into the estimate so we don't also include it in our flooring budget). The work will be in the eastern part of Southern California.
I understand the feedback is/will be a simple rough estimate, but I could use some quasi qualified rough numbers to plug into my construction budget so I can hopefully get an offer out to the seller tonight.
Thanks in advance for your feedback.