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?
@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.
Thank you for your inputs
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