Ground up budget analysis for Multi family

5 Replies

Hey hey Bigger pockets,

I am currently seeking an excel file that would consist of all costs that would need to be factored to be able to build a multi family from the ground up. Any starting point would be greatly appreciated. 

So I do not have an excel sheet, but here are a few costs to think about. Without knowing more about your site, this are just things for you to consider. Not all may apply, and this is definitely not a comprehensive list. But:

- Soft costs for architecture, engineering, surveying, geotechnical.  Engineering & Surveying may not necessary if you are only dealing with 1 lot. Will this project require rezoning the lot? Will you need platting?

- Will you require development of the land prior? (I.E. do you need to extend roads, water, wastewater, etc? Is the land relatively flat or will it require hauling dirt or building retaining walls?)

- Permitting Costs with your jurisdiction. City review fees, tree/park fees, inspection fees, Water/Sewer impact fees (potentially very large!)

Hope this helps as a starting point!

Just want to be able to present an overview to my private money lender. The land is flat, a survey was done when I purchased the land which has another property attached to it. Rezoning isn't required it's a mixed unit district. Development of the land will be required. I guess this is a solid starting point. The goal is to build a multi-family on the second parcel I have. Appreciate your response. @jamie 

@Jamie Hora  

@Roupnel Pierre youre welcome. Thats good you already have a survey & wont need to rezone.  But it is definitely worth having a phone call with a City Planning Department staff member to understand their costs.  It is usually detailed online, but things like Water/Sewer tap fees, which are the large costs, are not always shown.   

Hi Roupnel,

A LOCAL Architect who has successfully constructed a multi-family of the size you want (in the last few years) should be able to give you a breakdown of items along with a floor plan and other drawings.

Someone with experience in your municipality is best, and be aware of (and ask about) possible cost over runs.

Someone with a down-line of subcontractors is a good start.

Good Luck!