Budget control and cost saveing on low-end apartmenets.

[Wilson Lee]

We are in the preliminary part of making an offer no a 14 unit building. The buildings has window AC window units.   To bring the building up to market rents we want to improve the AC.  Window units in this area are the norm. Many of the surrounding buildings are not well kept.    Rehab cost are approaching $220,000.  However the deal is not going to workout if Rehab creeps Closer to 250,000

The building has a lot of deferred maintenance.  It is at 70% occupancy.  Rents are $250 below market compared to one of the better kept building down the street.

So,  What are some cost effective options to bring AC into the units with out blowing up the bank while still improving above window units.  

What are some other ideal cost saving areas in rehab?   We are replacing the, Siding, roof, flooring, plumbing. 1/4th of the electrical, windows, doors, Tubs, sinks, Cabinets and counter tops.