San Francisco - Input on Renovation Costs

[J Scott]

Trying to get a VERY BALLPARK idea of what I would expect a per-square-foot gut interior renovation to cost an investor in San Francisco.

By ballpark, I mean I'd be happy with a $50/sf range ($125-175/sf, for example) or even just a high-end number (up to $200/sf, for example).

By gut renovation, I mean gutting down to the studs and replacing all electrical, plumbing, HVAC, sheetrock and then all mid-level cosmetic finishes (oak hardwood, standard granite, basic fixtures, etc).

Ignore exterior costs since I know those are a lot more variable.

I realize that there are still a million variables, but I'm just trying to determine if a conservative number is $100/sf, $150/sf, $200/sf, $250K, etc...

Thanks!

[Will Barnard]

In high end areas of CA, building from scratch will cost $200 per sq. ft. (Plus garage) and it goes up from there. If you are on hillsides where foundation walls, caissons, etc are needed, obviously the price jumps up dramatically. For really high end finishes and upgrades, count on $300 per sq. ft.

So, if you are talking mid level higher end homes in CA and just the interior (no windows, stucco, roof, foundation,  landscaping, etc) then the price is under those figures.

In my Beverly Hills flip, it is just over 3000 sq. ft. and the interior portion of the rehab (demo, architectural design, engineering, rough framing - added load bearing beams, moved load bearing walls, low voltage wiring, rough electrical and plumbing (some existing is used) or repositioned), finish electrical and plumbing, flooring (wood) plus tile in bathrooms and kitchen, new interior solid core doors and hardware, drywall (about 40%- 50% of existing was used), paint, custom cabinetry with custom stain, cabinet hardware, kitchen appliances - Viking) all of this will run me about $250k or just over $80 per sq. ft. not including any permit fees or project manager fees.

Now, I am also doing new windows and exterior doors and sliders, roof, landscaping, decking, BBQ buildout, etc. and my total budget is $350k ($113 per sq. ft.) For most others, to do this same work would likely cost $450k- $500k ($160 sq. ft.). So when you factor all the rest, foundation, framing, grading, permits, server connections, electrical and plumbing, then you get to the total buildout costs (spec build) of $200 per minimum.

Hope that helps J.