As per ASHRAE Systems handbook, use 0.3 as a demand factor (for apartments), 1.25 as storage factor. Probable demand = Total demand (GPH) x 0.3. Storage gallon = Total demand (GPH) x 1.25=gallons.
The ASHRAE factors are of course, an average. You should consider also, how the condo owners live. Do they all get up at the same time for showers? Do half? Do some shower at night instead of morning? Talk to the owner or architect. If in doubt, use .75 for demand factor. They won't get mad if they don't run out of hot water.