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Updated almost 7 years ago,
Ball park estimates of Apartment in NC
I know this is a very generic question. But I just want to get an idea about the ballpark answer.
I have never done a full rehab of a 2BR 1BA. Based on what I was shown, this apartment is really in shambles.
Almost new drywalls (5/8) + pop corn + new doors paint + trims. About 10 doors total (main, 3 rooms, bathroom, kitchen, 3 closets, water heater room). My estimate: 4-5k
New carpet with padding. My estimate: 3-4k
New Bathroom. Tiles on the floor, vanity, mirrors, new shower and heads. My estimate: 2-3k
New HVAC Unit (not just the unit outside), Coil, ... etc will need work. My estimate: 6-7k
Complete new kitchen (Floor tiles, new Cabinets, new countertops, ...), and new appliances. my estimates: 4-5k
All my estimated include parts and labor (certified and insured electrician, plumbers, painters, ... etc)
Bed bugs/Pest control cost should also be added, I think.
Whole apartment is about 900 square feet.
Property was originally built in 1986 in NC.
Seller estimates less than 10k for this apartment to be rent-ready.
My quick assessment would be closer to 20k.
I want to make an offer, but I told seller, I need to deduct the make-ready costs.
Please chime in based on your experience. Really appreciated.