How Much Does It Cost To Build A 3 Story Apartment Building
As a very rough starting point 1500 m2 is very cheap 2-2500 m2 is more usual and then anything from 3000 m2 and up is more consistent with bespoke designed houses.
How much does it cost to build a 3 story apartment building. A three-story unit of masonry construction with twelve apartments would run roughly 94 million in total costs. Most contractors estimate the extra garage space adding on anywhere between 6000-10000 dollars. Average Apartment Building Cost Each unit roughly costs anywhere between 64575 and 86100.
For a mid-rise building the numbers jump to 719 and 599 respectively. According to ABS December 2019 Buildings Approvals data the Australian average was 139355 per sqm. Value is all based on current and future cash flow.
How much does it cost to add a 3rd stall garage. Discussions with industry participants tend to suggest average construction costs cluster around 300000 to 500000 with more dispersion in estimates of fees margins and overheads. Construction costs could be more than 200ft so for your 12k sf building youre looking at 24M plus the 1M gets you to 34M or 283sf.
Costs can provide no more than a rough guide to the probable cost of building as costs can vary significantly based on site conditions level of fitout and design. However this figure doesnt include design planning permits any site works or any cost blow-outs. On the low end the average cost is 301 per square foot.
The cost of building is influenced by many factors but in early 2020 the Australian Bureau of Statistics ABS reported the average is 139355 per sqm. Assuming 2 - 4 units per floor this would cost 31 - 34 million to complete. CAP rates evaluate current cash flow NPV looks at future cash flow.
With the average dwelling in Australia being 2298sqm this puts the cost for the build portion alone at 320238. These construction costs also include the following. Assuming all of these costs a three-story masonry unit that has 12 apartments would actually cost as much as 94 million without the inclusion of land or site improvements.

