The cost to build a 6 unit apartment building depends on the size of the lot, your budget, and how much work you want to do yourself.
Building your own apartment building can be an exciting project and it can also be very rewarding. However, when it comes to the money side of things, you need to make sure that you have enough funds in place before starting. There are several factors that can impact the cost of building an apartment building including the location, size, building materials and construction method.
The average price range for a new 6-unit apartment building is $500-$600 per square foot (psf). This includes all costs related to construction including labor and contractor fees as well as all materials needed for construction.
If you’re looking at buying a pre-existing property then you should expect to pay $350-$450 psf for one that needs renovation work done on it. This includes removing any existing fixtures and finishes within the structure as well as upgrading electrical systems or adding new ones where necessary.
Cost to build a 6 unit apartment building
A 6-unit apartment building is an ideal project for developers and investors. It’s not as complicated as a larger multi-family apartment building, and it still allows you to make a profit. For a small-scale developer, building a 6-unit apartment complex may be the best option.
If you’re thinking of building your own apartment complex, here are some things you need to know:
The cost of construction depends on many factors, such as location and size. The average cost per unit in the U.S. is $220,000-$300,000 for residential buildings up to four stories tall. If your building has more than four floors, expect an average cost of $350,000-$500,000 per unit.*
If you want to build an apartment complex with six units or less (excluding parking spaces), expect the total project cost to be between $1 million and $3 million. This includes construction costs (materials and labor) but not land acquisition costs.*
The biggest cost item in building any type of residential property is labor costs (which can range from 35% to 50%).*
How much does it cost to build a 12 unit apartment complex?
The cost to build an apartment complex will vary greatly depending on the size of the complex, the location, amenities, and other factors. On average, a 12 unit apartment building costs about $1 million for materials and labor. This does not include land costs or financing fees.
If you want to know how much it will cost to build an apartment building with 12 units consider these factors:
Size of the Complex – The size of your apartment building will have a large impact on its overall cost. For example, if you are building a 12 unit apartment complex that is 2 stories high and 2,500 square feet per floor then you can expect to pay approximately $1 million for materials and labor. However, if you want more space or amenities then you may need more than one contractor working on this project at once and therefore have higher costs associated with each phase of construction such as plumbing or electrical work.
Location – The location of where you are planning to build your new apartment complex can also have an impact on its overall cost. For example, if you’re looking for inexpensive land in rural areas then expect your costs to be lower than those who want land near major cities where there is more demand for housing