Hi Everyone,
I'm new to this forum. I have few questions regarding the potential development of a multi-unit apartment building in Los Angeles.
1. What's the approximate cost per sq ft to build 3-4 story building with 10-14 units.
2. I'm assuming half the units will be 1bd / 800 sq ft and the other half 2bd / 1,000 sq ft. How much additional square footage should I assume for common space for each unit and what's the approx. cost per sq ft for the common space.
3. I own the land free and clear. Will a bank finance 100% of the construction costs or will they expect me to have a certain percentage of the construction costs?
4. What's the total estimated time from start to finish? I'm in Los Angeles which is not the most construction friendly city in the world.
5. Any suggestions on where to start?
Thanks,
CB
