Building a Multi Unit

[Paul Sassin]

I have an opportunity to buy an older Tri-plex that is a bit rundown, on a 3/4 acre lot. If we bought it the property would cash flow decent. However, The property is zoned as multi Family and it seems to have potential to possibly fit a 6-8 unit building with parking.

I was wondering about the process of building or putting a modular multi unit building on site.

What’s the typical cost per sq foot for a basic modular home/or new construction in a B- neighborhood. I just want to run the numbers to see if it’s possible down the road. Am I crazy for thinking this could work? Any insight or thoughts would be appreciated.

Thanks!

Paul