What is the average rehab costs per sqf.?

In Property Management - Asked by Walter S. - Aug 13, 2009
Report Abuse
Answer this Question

Answer(s)

Larry P.
Broker/Agent
Tucson, AZ

what type of rehab and were

Aug 14, 2009
Report Abuse
Gregory G.
Broker/Agent
San Francisco, CA

This really depends on what kind of rehab. Would be happy to give you an estimate if you can provide a little more information.
http://www.gregorygarver.com

Aug 14, 2009
Report Abuse
Walter S.
Researcher
Columbus, OH

Hello, it´s a Multi Family in SW Ohio, needs complete interior rehab. 8 units all 2 bed/1 bath, 6,500 sqf., no plumbing, no electric wires there, most units stripped to the studs (prevent of mold) all must be new. The ask price is $105k, the appraised ARV $370k. Now is the question: Can $265k be enough for the rehab?
Thanks for your response.

Aug 15, 2009
Report Abuse
Davide P.
Broker/Agent
Pinole, CA

Walter, I'm sure you've been told this before but you should definitely get two to three quotes from contractors in the area. I work with two contractors in my area, and from the image I have of the property I would think one of them (cheaper, decent quality work) could do the work for just about the $265k you referred to. The second contractor (more expensive, high-quality work) I would imagine a quote of $400k. If you get a few quotes you can have an idea as to what range it should cost.

Aug 16, 2009
Report Abuse
Walter S.
Researcher
Columbus, OH

The contractors (three) comes next week, the finished sqf. of the house are 7,690. So is the wanted $/sqf price $34. This is our first rehab project and I have sleepless nights :).

Aug 17, 2009
Report Abuse
vinton w.
Owner/Investor
New York, NY

same question as Walter S. Only this is Boston Ma. 4680sqft two family everything must be replaced including roof and siding on the outside. Inside, electrical, pluming, insulation, stairs, sub-flooring, flooring, and dry walls. what should the avg. cost be?

Sep 5, 2009
Report Abuse
Walter S.
Researcher
Columbus, OH

Vinton,
The appraised ARV of my house is $355k, the estimate was $290k = $37.50 per sqf.. $40 per sqf. is acceptable.

Sep 10, 2009
Report Abuse

Welcome to Answers

LoopNet Answers is where the commercial real estate community shares what they know to help each other out. And it's all for free.

Ask a question to get advice from brokers, investors, professionals and local experts.

Answer questions to raise your visibility as a trusted advisor and build new relationships.

Ask a Question

Post Question