How Much Does The Average Apartment Complex Cost To Build

Cost to Build a 20-unit Apartment Building. For those looking to build from scratch youll need a figure here of cost per square foot for this initial cost. This pricing structure makes it easier to compare the costs of a 10-unit building with a 20 or 100-unit building because square footage varies based on the units sizes and building size.

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2021 Cost To Build An Apartment Apartment Building Construction Cost

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I am trying to put together a bid on an apartment complex and am curious to see what the highest you guys have ever charged for apartments.

How much does the average apartment complex cost to build. Moreover we have brokered numerous apartment loans and apartment building financing transactions. So before you even build a single thing the building could be running 500k per unit. How much would it cost to completely build an apartment complex.

By our calculations weve increased the value of this apartment complex by over 100 as we currently value this property at 600000 and it only cost about 130000 in renovations to get there. Energy Information Administration reports that the average apartment is 861 square feet which works out to a 24-foot by 35-foot space. Based on a building with 12 average-sized units the national average for construction is about 125 per square foot.

The following spreadsheet will give you a good idea of the number and variety of expenses you will incur as an apartment building owner. Call us today at 206 622-3000. This spreadsheet includes two properties totaling 45 units.

So how much does it cost to build an apartment. The land can run between 5300k per unit The permitting fees can run between 3200k per unit. Does not include debt service or any one-time extraordinary costs.

This price range has the following specifications. Management fees vary greatly but typically fall in a range between 3 percent and 7 percent of the rent collected. For example on our third deal we purchased a 136 unit apartment complex for 4075000.

However there are other factors which affect construction that may prolong construction time. This property now generates over 2000 in cash flow for us after covering all our expenses. The average cost range for condo building construction is 75000 to 150000 per unit.