Echo Liang (Self employed )

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Rainmaker
919,773
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Looks like a tear down to me - call a contractor

Jun 24, 2016 09:59 PM
Rainmaker
5,571,923
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

it would be a better investment to tear it down and build another multi family home..... condos....and then sell or rent out the units...

Jun 24, 2016 10:31 PM
Rainmaker
4,117,748
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

 You had better speak with a contractor.

Jun 24, 2016 08:45 PM
Rainmaker
1,991,258
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

construction costs are local  we are not a good resource here

Jun 24, 2016 09:24 PM
Rainmaker
1,387,183
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Construction costs vary by area, supplier and who is doing the work.  Couldn't even begin to guess!  What I'd recommend is to tear it down and build something modern, like Barbara Todaro said.  BUT DO THIS FIRST: save on demo costs, invite your local fire and police departments to train there!  Let them practice searching, tearing down walls, etc.  I got to do search training in a building scheduled for demolition at a local company once.  Great times!  So long as it's safe enough to enter, fire, SWAT and the local PD and emergency teams will love you!  Plus, they'll take down a few walls for you.  Maybe you can let them use it as a live burn training for the fire deparment.

Jun 25, 2016 05:27 AM
Rainmaker
1,736,463
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Depending on the location, Barbara Todaro may be right.  The property may be worth more without the building.   No way for us to know.  

Jun 25, 2016 02:11 AM
Rainmaker
1,921,264
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Echo Liang the best thing to do is get a contractor to give you a written quote to bring this property to habitable conditions. 

Jun 24, 2016 11:32 PM
Rainmaker
2,641,752
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Minimum $5k a unit depending how you finish it off. Rent return or return on investment decides how far to go or spend

Jun 24, 2016 10:37 PM
Rainmaker
849,960
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

Depends on foundation, plumbing groundworks, water & sewer taps, roof, what quality of materials are used, condition of existing masonry, electrical requirements, square footage, etc, etc. If code allows, roof could be removed and a 3rd story added. Might be best to demo? it looks like 4" masonry over framing. new codes could require metal studs, fire rated sheet rock, sprinkler system, and on and on.

Jun 24, 2016 10:16 PM
Rainer
212,250
Kristen Correa, Broker
Kristen Correa Real Estate & Reedy Creek Realty Services - Keller, TX
I love coffee & real estate. I am out of coffee!

Echo, I love your pic with your dog. There is no way to even ballpark that with so little info. We would be shooting in the dark. But I will try. As long as you know this is like one of those guessing games at a child's carnival :)

When I was a rehabber, I called MANY contractors and spent MANY days in a row with MANY diff people getting a ton of opinions and I sincerely believe that is the only real way to answer that question.

The closest thing to that I ever did was a 4-plex in need of foundation repair, roof, light plumbing, one AC, new floors, paint in and out and light handyman work throughout about 10 years ago in Texas and it cost $38k. Somehow I doubt this place you're looking at needs any less than $70k. It looks big and it looks like you will not know if ANY systems work at all - plumbing or air.

Good luck!

Jun 24, 2016 09:45 PM
Rainmaker
6,607,046
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Call your favorite contractor.

Jun 24, 2016 08:40 PM
Rainmaker
1,157,485
FN LN
Toronto, ON

You should get some quotes from local contractors.

Jun 24, 2016 05:07 PM
Ambassador
2,570,797
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Whatever estimates you get, double them.  Whatever time frame you are given, double that.

Better yet, move on to another property.

Jun 26, 2016 08:05 AM
Rainmaker
634,282
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Demolition and a new build! 

Jun 25, 2016 06:45 PM
Rainmaker
849,262
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

If it's near Bankhead HWY...forget about it! 

Jun 25, 2016 04:27 PM
Ambassador
5,409,009
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Decide what you want it to be, call a few contractors, and they will give you the answer.

Have fun, I hope it works out for you.

Jun 25, 2016 03:25 PM
Rainmaker
960,861
Diana Zaccaro Broker Associate
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

No idea on cost, way too many variables to consider and costs in GA will be different that FL. Get estimates from a couple good rehab contractors and don't forget to get estimates for insurance...depending on age of building, it could be very high. There are a lot of things to consider before you make a decision.

 

Jun 25, 2016 03:14 PM
Ambassador
4,312,759
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Echo,  better to build something new here,  I think. 

Good luck. 

Jun 25, 2016 02:36 PM
Rainmaker
581,136
Nicholas Crane
Woodland Companies - Cadott, WI
Managing & Appraising Forest Land

Looks so Beautiful I don't know why you would tear it down.  Paint and new windows easy fix.  As most people already said it depends on area contractor and end purpose (rent or sell)

Jun 25, 2016 01:38 PM
Ambassador
2,224,167
Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

Why does someone want to renovate this building? 

Jun 25, 2016 11:36 AM
Rainmaker
2,442,558
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

I'm pretty sure the building market is kind of local too.  I would say gut it and start over.  Perhaps, look to another building to buy.

Jun 25, 2016 06:41 AM
Rainmaker
4,799,501
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

No clue.  I would talk to a contractor.

Jun 25, 2016 05:28 AM
Rainer
1,830
Echo Liang
Self employed - Arcadia, CA

This parcicular property is in Atlanta, GA.  Thanks everyone for your contribution! Appreciate your time!  :)

Jun 25, 2016 03:24 AM
Rainmaker
4,013,442
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Wow, this could be a good deal!!!

Jun 25, 2016 02:42 AM
Rainmaker
4,099,794
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Yikes!   Too many variables.  You will need a local contstruction and/or demoliton expert.  

Echo, your profile states you are in Arcadia CA --- this building is unlikely in/or near there, right?    

Jun 25, 2016 02:07 AM
Rainmaker
1,109,295
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

Too much!

Jun 25, 2016 01:57 AM
Rainmaker
1,153,675
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

~$100-150 sf min (CA) Needing itemize priorities.  Kitchen $12K, bath $8K, flooring, walls, ceiling, plumbing, appliances

Looks like the roof is shot.

Measure window frame go to HD ask for material estimate, installtion is $350 each etc.

Looks like a major surgery.

Jun 25, 2016 01:46 AM
Rainmaker
3,985,875
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I think you are asking the wrong group of people

Jun 25, 2016 12:53 AM
Rainmaker
5,587,225
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Echo,

There are so many factors involved in renovation.  And construction costs are a local thing.  Each state is different. We lave laws in CA that this building may need to retrofitted for earthquakes.  Get someone to recommend contractors, then get bids.  A

Jun 25, 2016 12:22 AM
Rainmaker
1,404,449
Raymond E. Camp
Ontario, NY
Licensed Real Estate Salesperson Greater Rochester

As everyone is stating call a contractor or two.

Jun 25, 2016 12:14 AM
Ambassador
1,616,354
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

OK-I would contact a local general contractor that specializes in this area. I could assist in Phoenix market.

Jun 24, 2016 11:55 PM
Rainmaker
4,433,703
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Barbara has given you good advice.

Jun 24, 2016 11:48 PM
Rainmaker
1,459,527
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Echo Liang It has already been said here. Hire a local contractor to give you an estimate.

Jun 24, 2016 11:46 PM
Rainmaker
888,897
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

The question is not "How much could it cost" but is "How much should it cost."

As an investment property, the budget is determined by the best use value.

As an example a million dollar house can budget more that the kitchen than the $200,000 house.

THEN you consult with contractors who have a history of coming in under budget.

 

Jun 24, 2016 11:46 PM
Ambassador
4,579,681
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

You need advice from a contractor based on what the plan is. Perhaps several estimates. Best advice may be to bulldoze and start over

Jun 24, 2016 11:33 PM
Rainmaker
3,069,984
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

parked and reading

Jun 24, 2016 10:56 PM
Rainmaker
4,210,445
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Get an experienced rehab contractor that is local to provide an estimate. There could be hidden issues so provide for a contingency!

Jun 24, 2016 10:24 PM
Rainmaker
2,808,236
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

You should speak with a local general contractor.  Check angieslist.com

Jun 24, 2016 09:56 PM