How much does it cost to buy an apartment complex?

While you can purchase a smaller apartment building for $500,000 to $750,000, a mid-size or large apartment complex will likely cost more than $1 million. The cost will vary based on the age of the building and the type of property (such as A, B, or C apartment complex).

How much does an architect cost to draw plans in South Africa?

SACAP issues an annual guideline for fees charged by professional architects. These recommend that architects or an architecture firm should charge around 8\% for complete services on a typical house of 400m², using building costs of around R12 500 per m² on average.

How much will it cost to build a granny flat in South Africa?

The cost of building a 2 bedroom granny flat on the other hand, is calculated per square meter. On the average, a square metre goes at about R2000 leaving the cost of a traditional granny flat (about 150 sqm) between R300,000 and R500,000.

How much would it cost to build a five-story apartment building?

So you borrow lets say 50 million dollars to build a five story apartment building and well you are probably paying 7–10 percent interest on this loan and are not making payments until you start renting/selling units.

What is the average size of an apartment building?

According to the U.S. Energy Information Administration, the standard size of an apartment unit is 861 square feet with a footprint of 24 feet by 35 feet (24×35). Average Apartment Building Cost Each unit roughly costs anywhere between $64,575 and $86,100.

How much does an entire building complex cost to build?

Each unit roughly costs anywhere between $64,575 and $86,100. But when it comes to the cost of an entire building complex, there’s more to simply crunching the figures based on the average unit cost.

What are the architectural specifications for a 5 storey building?

Architectural specifications are not just the designs, they also include the materials, the type of finishes, windows, doors, fittings, and ceilings that will be required. Expensive finishes will have a bearing on the overall cost. Therefore, you will have your 5 storey building classified as either Low cost, Mid cost or High end.