Estimating cost of interior apartment build out

Estimating cost of interior apartment build out

Investor · Chicago Suburbs, IL · Member since 2014 · 26 posts · 6 votes

Working the numbers on a potential deal. If I can rent both levels it works, but only the upper level has a rent-ready apartment.

The bottom is 95% open space (think large chapel).  If I want to convert this sizeable space into 1 or 2 apartments, is there a tool or rule-of-thumb to use to estimate the costs of this project? Maybe based on square footage?

I suppose getting a contractor on-site is the most responsible route for due dilligence, just don't want to waste time for everyone involved if this is fantasy land.

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  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    5y

    Hard to say without knowing the particulars, like is there underground plumbing? Or electrical with sufficient coverage and amperage...?

    If you use $125 - $150 SF you should be ok...that would include permits and fees usually...

  • Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
    5y

    You’ll need some code compliant (architect) plans before you can get any kind of accurate pricing. 

  • Investor · Chicago Suburbs, IL · Member since 2014 · 26 posts · 6 votes
    5y

    @Bruce Woodruff @Wayne Brooks

    Thanks for the advice! 

  • Investor · Butler, PA · Member since 2014 · 130 posts · 114 votes
    4y

    Ever go any further with this? I am currently looking at a 12k sq ft office building to change use to residential. I will be meeting with an architect and just trying to figure out if its even a viable option to change use.  

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