New construction costs per sq. ft small multifamily
Hi all BoggerPickets...
I am curious about new construction cost for small multifamily projects. This would be for everything except land. We probably should assume a smaller mostly level infill site with rentable finishes. Location will probably be important for this discussion so if you could post where you are talking about. Maybe we could have best cost advantaged building practices.... Modular.. precast... stick frame... sips (structural insulated panel system ??).. block etc. My hope is that this could become a resource for any investor with a small house on a duplex type zoned lot. Thus helping all of us come up with a better value for some of these infill sites. Thanks for all your time and input.. Smole In :)
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Clearly a lot of variables, but I can share a few real life scenarios. All excluding land costs and in Denver.
I finished a 7 unit town home project in August 15, near Sloan's Lake - we finished at $165 per ft - this is demo to door bell with all costs included
I am breaking ground on an 8 unit south of Sloan's in about a month - I am estimating $185 per foot again demo to door bell. About $140 a ft in hard construction costs - the balance is everything else.
Both of these projects are 3 and 4 story, modern, nice finishes with sales prices in the high $400's.
I just funded a single family house for a client last week - SFR about 5,000 finished sq ft - $140 a ft - completed value over a million.