gut job - ball park estimate for multi family properties.

3 Replies

Hello,

We are looking at couple of multi family properties that have potential. These are all located in metro atlanta area. How would you go about estimating what it would need for a gut job for a multi family, which has more than 1 floor. All of these need plumbing, electrical, roofing. We want to do builder grade finish and are looking at keeping them for the near future.

For HVAC , would you all suggest mini split ductless systems or central HVAC. With Central HVAC could you still pass on the heating and cooling costs to tenants?

Thank you,

BG

@Basu G. - you get some efficiency of scale on multifamily, but on other areas it can cost more. An example is with electrical, wiring a 3,000 sq ft SFR could generally be cheaper than a 3,000 sq ft multi-family as you would need extra meter bases, and breaker boxes. This also comes into play with plumbing, several hot water heaters over a single one.

Where I have found the efficiency is having more buying power. I can get a better deal order 4 fridges at once, or buying 12 of the same bathroom fixture. 

Look at the BP book written by J Scott for estimating repairs. I believe he is/was based out of Atlanta. 

For HVAC, I haven't had a lot of luck with the mini split systems. I have always been able to get a traditional system put in for the same price or less. And for me, I have been able to find more HVAC techs willing to work on central systems, and have those parts more readily available than ductless. 

@Basu G. I have done a lot of full rehabs on single family homes, but never on multifamily. I would say to go with a traditional hvac system, that is what most people are used to in Atlanta.

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