Personal Finance
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 2 years ago, 03/20/2022
23 unit apartment built in 1908 gut out and renovation cost?
Looking at purchasing a 23 unit apartment complex that was originally built in 1908 for 125k. The building was originally a high-end residential apartment. The interior has been demoed except for the interior walls and everything has been cleared out and the building sits empty. The building looks very pleasing from the outside and the only thing im really purchasing is the skeleton and frame of an apartment complex.
The question im trying to get at here is what kind of ball park figure cost would I be looking at if I were to have the interior professionally gutted and renovated? Im talking new plumbing, electrical, appliances, everything to make it tenant move in ready.
Any and all input is welcome, just trying to figure out if its worth the financial hole I would be digging for myself before the building can be rented.