Cost to build 4-plex but...

[John T.]

Hello BP!

I'm looking for anyone with information on a ballpark number for the cost to build a 4-plex...all concrete/concrete block.  I reside on Guam, and the structures here are 99% fully concrete block/poured concrete construction.  Also, if you have metrics for buy and hold in this type of (all concrete) market, that would also be helpful.  Is anyone familiar with my type of market?  Thanks BP!

[Tom Parris]

Hi @John T.

Since you're in Guam, it's best that you reach out to a local GC to find out cost to build. Contractors are going to cost per square foot of the build, OR a project management fee, where you pay for all the materials directly and they charge you X dollars to manage the build. The houses I build, are single story homes with block exterior walls and framed interior, and I can get it done for $70 a square foot. However, since you're building a 4-plex, that's probably two stories, 4 kitchens, more driveways and much slower and more expensive construction. 

I'm not sure what you know about building yet, but first off you need the land. If Guam is anything like the mainland, you'll need to know what the land is zoned for, and minimum lot size. Here in Florida, minimum lot size is 50 x 100, and the land needs to be zoned Multifamily. Unless, you'll have to re-zone the land and that's a whole new can of worms. 

You'll need plans to submit for building. You go to an architect to buy a set of plans they already made, or have them create new plans for you. I've seen plans go from $1-$5 per square foot, and that's buying already drawn building plans to original plans. 

Good luck!