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Ballpark rehab of Vacant Townhouse/Brownstone

Started by pm10031
almost 13 years ago
Posts: 8
Member since: Oct 2010
Discussion about
Has anyone rehabbed a vacant townhouse rental? What was the cost and how long did it take? I see a bunch of them in Hamilton Heights and wondering how much I should add to the purchase price when I crunch the numbers (vs buying one that is not vacant/abandon).
Response by semerun
almost 13 years ago
Posts: 571
Member since: Feb 2008

I have often seen numbers of $200-300 sq ft. You state vacant rental- are these SRO's now vacant? If so do they have the Certificate of Non-Harrassment? Unless your a pro- it's very difficult, expensive and time consuming to resolve a townhouse SRO without the CNH.

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Response by pm10031
almost 13 years ago
Posts: 8
Member since: Oct 2010

Yes, has Certificate of Non-Harrassment. 5000 SF x $200-300/SF = $1-1.5m to make rental plus the purchase price? Can almost buy a fully functional place for the cost to do rehab work.

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