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Derek Schlicker
  • Rental Property Investor
  • Seattle, WA
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Development cost resources?

Derek Schlicker
  • Rental Property Investor
  • Seattle, WA
Posted Jan 23 2019, 15:49

Hi Everyone - 

I am one year into my life as a real estate investor, and am hoping I can get some resources on cost estimates on new-structure development.

A little background. An off market parcel fell into my lap and I'm trying to run some back of the envelope numbers on a teardown and new-structure development in Snohomish county (its in a downtown area).  

Its a 7,500 sq ft lot with a SFH on it (structure is worthless and should be torn down). My intent is to tear down the structure and build a 3-4 unit MF structure in its place.

I've confirmed the land is zoned appropriately to do this, but just need to find some data on construction/development costs so I can run the numbers to see if they work for my goals. Is there a resource online to do this? Or, what does the market typically charge per sq-ft in your expense? 

I'm also looking for developer references to get rough estimates/vendor selection should I obtain the property. 

Thanks!

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