How Much Does It Cost To Build A 30 Unit Apartment Complex

It costs 22 million on average to build an apartment building.

How much does it cost to build a 30 unit apartment complex. This means you decreases your expenses X but you only increase the residents cost of living 70 of X. On a building producing 500000 in rent a. Lets get the party started.

Typical apartment building operating expenses The following spreadsheet will give you a good idea of the number and variety of expenses you will incur as an apartment building owner. The sum of all expense categories must balance with this line using total net utility expenses only. We can determine the NOI by subtracting Total Expenses from the aggregate income total.

Some apartment owners manage their own buildings. Scope differences and market conditions can cause costs to vary significantly. - Economic R 3600.

This single cost-saving step saved us over 6000 per year. The cost per square foot and the unit and labor costs overlap with the costs of 15 20 and 30-story buildings but finishing costs are at a higher rate bumping some of the costs to 400 a square foot or higher. This spreadsheet includes two properties totaling 45 units.

Industry and Renewal SA experience shows that typical apartment construction rates are often more than double the cost. For instance in the 30-unit apartment development described above the developer would have to invest 4500000 of equity ie 150000 per unit or 35 of the total cost. Costs are derived from a building model that assumes basic components using union labor for a 22500 square foot building.

This projects low cost is 300000 for a 2-unit condo home in a suburban area. Energy Information Administration the standard size of an apartment unit is 861 square feet with a footprint of 24 feet by 35 feet 2435. If you manage the building yourself you can reduce that expense.