How Much Does It Cost To Build An Apartment Complex
Therefore this will add up to your investment record.
How much does it cost to build an apartment complex. Costs are derived from a building model that assumes basic components using union labor for a 22500 square foot building. Of course there are enormous variables in finishes and location. Is Owning Apartments Profitable.
Find here detailed information about apartment building costs. So how much does it cost to build an apartment. Scope differences and market conditions can cause costs to vary significantly.
This price range has the following specifications. This property now generates over 2000 in cash flow for us after covering all our expenses. However the national average stands at 125 for most contractors.
The following analysis estimates the cost to build an apartment 1-3 story using US National Average costs from 2013 RSMeans cost data. Energy Information Administration the standard size of an apartment unit is 861 square feet with a footprint of 24 feet by 35 feet 2435. Each unit roughly costs anywhere between 64575 and 86100.
The total cost range per square foot to build an apartment building is between 85 and 400 a square foot with an average cost of 229 a square foot. This spreadsheet includes two properties totaling 45 units. Average cost to build an apartment is about 75250 per Unit Cost.
While you can purchase a smaller apartment building for 500000 to 750000 a mid-size or large apartment complex will likely cost more than 1 million. It costs 22 million on average to build an apartment building. The cost will vary based on the age of the building and the type of property such as A B or C apartment complex.
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