CalculateRealEstateROI

Multifamily · Guide

Multifamily Capex Planning

Roof, HVAC, plumbing, parking — capex categories that surprise unprepared sponsors.

Reviewed by Keiron Brown, Founder & Editor, CalculateRealEstateROI · Educational estimates only — not investment, financial, tax, or legal advice

Key takeaways

  • Reserve $500–1500/unit/yr.
  • Roof = biggest single item.
  • HVAC every 15 yrs.
  • Plumbing inspection at acquisition.
  • Parking lot every 10–15 yrs.

Core concepts

Categories

Roof, HVAC, plumbing, parking, landscape.

Reserve

Sinking fund; investor protection.

Inspection

Pre-purchase + every 5 years.

Step-by-step framework

  1. 1Inventory remaining life.
  2. 2Fund reserve.
  3. 3Annual inspection.
  4. 4Investor reporting.

Common mistakes to avoid

  • No reserve fund.
  • Skipping inspection.
  • Deferred maintenance.

Frequently asked questions

Reserve per unit?

$500–1500/yr.

Roof life?

20–25y.

Parking lot?

$25–50k repave.

Inspection cost?

$2500–8000.

Action checklist

  • ☐Reserve fund.
  • ☐Inspection.
  • ☐Capex plan.
  • ☐Investor reports.

More from Multifamily Investing

Multifamily Investing Best Practices
Multifamily lives or dies on T-12 verification, expense ratio discipline, and capital stack.
Common Multifamily Mistakes
Most multifamily losses trace to undervetted T-12, optimistic value-add, or wrong debt.
Beginner's Multifamily Guide (5–20 units)
Small multi entry — residential financing, hands-on management, learning the operating playbook.
Advanced Multifamily Strategy
Syndication, fund formation, and institutional capital — scaling beyond personal balance sheet.
Multifamily Resource Center
Calculators, market data, and reporting tools for multifamily underwriting and ops.
Multifamily Underwriting Framework
T-12 verification, expense normalization, exit cap rate, and IRR modeling — the core process.