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Updated over 3 years ago,
Multi-family development..LOST in the Sauce!🥴
Hey BP 👋
I have 0.98 acres zoned for multi family in Apache Junction, AZ.
the city says up to 22 units on 1-acre can be built. i also own the adjacent 6-unit apartment building. One of the Principal Planners for the city said I could possibly combine the 2 parcels to get over 1 acre.
also, a local owner just Built a 10-unit apartment building across the street from me so that's a good sign.
I want to develop apartments but
1. Where do I even begin and start?
2. who do I go to 1st? An architect or a general contractor? or someone else?
I don't even know if this is financially feasible to develop.
3. How or who can I get a rough idea of what My total All-in costs will be?
my experience is buying existing apartment buildings and adding value thru renovations .
If you need me to clarify any questions let me know
Thank you for the help & guidance! i really appreciate it 🙏