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Updated over 1 year ago on . Most recent reply

Graham Storey's profile image
Graham Storey's profile image
Graham Storey
  • Real Estate Broker
  • from Durham, NC
  • Member since Dec 19, 2020
  • Posts 48
  • Votes 42
  • Experience 7 Yrs
  • Investments 5
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Graham Storey's profile image
Graham Storey's profile image
Graham Storey
  • Real Estate Broker
  • from Durham, NC
  • Member since Dec 19, 2020
  • Posts 48
  • Votes 42
  • Experience 7 Yrs
  • Investments 5
Connect
Graham Storey
  • Real Estate Broker
  • Durham, NC
42
Votes |
48
Posts
Multi-Family and Apartment Investing

Multifamily Rehab Estimation

Graham Storey
  • Real Estate Broker
  • Durham, NC
Posted

Hey everyone, I am looking at a 8+ unit multifamily property in the Raleigh/Durham market and I am trying to get a good estimation of what it's going to cost to renovate. The units are 850 - 900 SF. 

Does anyone have a average cost per foot to renovate, or is it better to use a price per unit approach? Thanks in advance. 

Raleigh, North Carolina
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Ali Nichols's profile image
Ali Nichols's profile image
Ali Nichols
  • Investor
  • Member since Oct 4, 2022
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Ali Nichols's profile image
Ali Nichols's profile image
Ali Nichols
  • Investor
  • Member since Oct 4, 2022
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Ali Nichols
  • Investor
126
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Ali Nichols
  • Investor
Replied

Depending on the level of work needed, I am usually estimating between $25 - 40 ppsf. 

Upright.us has some nice tools to help in statement of work estimations.

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