Phoenix Arizona new multi unit costs.

[Nick Caravaggio]

I am looking at building a new four or six plex  complex in the Phoenix area on raw land.   What would a fair price per square foot cost be for such a project be in this market.  

[Josh Young]

Quote from @Nick Caravaggio:

I am looking at building a new four or six plex  complex in the Phoenix area on raw land.   What would a fair price per square foot cost be for such a project be in this market.  

Looking on the MLS of what sold in the last 90 days it varies a lot, but $200-$225 sq ft is what most are trading at, but there is one that looks like it’s just got flipped and is right next to ASU in Tempe and it sold for $2.4M at 7340ft, so $325 sq ft. It just really depends on the location.