Budgeting for apartment improvements

[Neill Herbert]

Looking to give a few apartments a cosmetic facelift as tenants move out. Paint, new appliances in kitchen, flooring (fake wood) etc. What would be a workable average $ per sqft budget here in the Los Angeles market? A low to high range would be very useful.

Thank you

Neill

[Lee Ripma]

For flooring you can get an installed sf cost pretty easily from anyone who sells flooring. Luxury vinyl tile is great for kitchens and bathrooms, installed at 6/sf on the high side. Refinishing hardwoods is different than laminate and there are different kinds of laminates. I suggest getting an actual quote on one of your apartments so you know. For cabinets you can spend a fortune or you can get pretty inexpensive at Lowe's. Call them up and get a quote to install their Arcadia collection. An appliance package is about 2k per unit, less if you don't have dishwashers and microwaves. Countertops can be really nice or really cheap. Cheap end is only $100. It is better to really cost out your items. Ballpark figures I used for a bathroom 4.5k and a kitchen 8.5k on the high end. I use 3/sf for following. But I invest in Kansas City, MO, so labor is less.