Estimating Rehab Costs on Small Multifamily Properties 2-4 units

[Derek Caffe]

Hello BP Members,

Can anyone explain how the rehab costs differ for small multifamily properties versus single family homes (SFH)? I purchased the BP Book on Estimating Rehab Cost, but considering it's focused on SFH, I'm curious how I should adjust potential rehab costs.

I currently own a duplex, but now looking at a triplex that needs renovations.  Are the costs simply three times the SFH costs for the same square footage? Are they typically a percentage more? Is there a rule I could use to estimate (1% rule, 50% rule)? Is it just a measure of square footage?

I'm in the Atlanta metro, but would love to hear the various ways other multifamily investors consider rehab costs. Thank you.