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Cost to build a 20 unit apartment building

Build a 20 Unit Apartment Building

Building your own apartment building is a great way to build wealth and passive income.

There are many different ways to build an apartment building. Below we have outlined the steps required to build a 20 unit apartment building.

Cost of Building a 20 Unit Apartment Building: $1,000,000*

20 x $50/square foot = $1,000,000

Cost of Building Site Work: $350,000**

20 x $350/square foot = $7,000 (per unit)Cost to Build a 20 Unit Apartment Building | The Real Estate Decision

Cost to build a 20 unit apartment building

If you were to ask a real estate developer how much land he or she needs to build a 20 unit apartment building, they would probably tell you that it depends on the size of the property and where it is located. A 20-unit building can be built on a 3-4 acre lot, but that does not mean that the lot has to be 3-4 acres in size.

8 unit, 2 bedroom, 1 bathroom Modern Apartment House Plan 7855 - 7855

For example, if I wanted to build a 20-unit apartment complex on 3 acres of land, I could make it smaller by building 10 units on one side of the property and 10 units on another side of the property instead of putting them all together. However, if I did this then I would have less parking available for each unit because only one parking space per unit would be allowed by code.

5 floor apartment construction cost

Building an apartment building with 5 floors can be more expensive than building a 2 or 3 story building because there are additional costs associated with using elevators and other amenities that require electricity or water such as air conditioning systems that require electricity and plumbing fixtures like sinks, toilets and showers.2022 Cost to Build an Apartment | Apartment Building Construction Cost

How Much Does It Cost to Build a 6 Unit Apartment Complex?

The cost of building a small apartment complex depends on the size and complexity of your project. You can use our apartment construction cost calculator to get an estimate of how much it would likely cost to build your own apartment building, but keep in mind that this is just an estimate, and the actual price may vary depending on several factors. We’ve compiled some of the most important factors below:

Size: The larger the size of your complex, the more expensive it will be. Although building one or two units is possible on a small lot, you’ll have better luck securing financing for larger projects that require more space. You also might have trouble finding contractors who are willing to tackle such small projects.

Location: If you want to build in an established neighborhood, expect higher costs because there are fewer lots available that meet zoning requirements and don’t require extra permits from local authorities. If you want more privacy, consider building in a remote area where land is cheaper and less regulation is required.

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