Teardowns

5 Replies

How much does it typically cost to knock down a property and rebuild in Los Angeles or Orange County? Let's say something between 1500-2000 square feet.

Originally posted by @Scott R. :

How much does it typically cost to knock down a property and rebuild in Los Angeles or Orange County? Let's say something between 1500-2000 square feet.

 About 300-400k plus 20-50k soft costs.

Originally posted by @Kelly O'Quinn :

@Manolo D. what would you ballpark on rehabbing it if it's been vacant 3-5 years and uncared for?

 If it doesn't fall under historic housing preservation issue, about 80-110/sq.ft. on a full gut out rehab. I have walked one recently with a bad foundation. Soft costs included. Finishes are based/capped at $1.50/sf (floor, tiles, etc). Highest form is an extensive gut-out, remove all interior non-load bearing walls and basically a new floor plan, nothing is salvaged, new roof finish (minor repairs on sheeting), new siding finish, about 3 months to complete (from contract signing to turn-over) with 1 month allowance for unforeseen events.

How old is it and what are the finishes?  You need a good asbestos and lead survey, then you can obtain a firm - fixed price for any abatement which is needed.  The regulations are federal and state, so the building department is not involved.

I double checked and the property I'm looking at right now was built in 1954. The roof needs replacement. Not certain about the condition of the foundation yet. A full gut out rehab might work, and it would certainly save enough money to make it a viable deal. The numbers won't work with a full teardown I'm afraid.