Buying multi unit with single heating unit

[Julian Dozortcev]

hello all,

Wanted to get people's opinion on buying a 3 unit building with a single heating unit.  The cost of separating the units and making 3 separate heating systems is too expensive. This building has radiators and one furnace in the basement.

[Brie Schmidt]

Originally posted by @Julian Dozortcev:

hello all,

Wanted to get people's opinion on buying a 3 unit building with a single heating unit.  The cost of separating the units and making 3 separate heating systems is too expensive. This building has radiators and one furnace in the basement.

 It is pretty common here to have radiators with 1 boiler.  I would not personally convert it unless I was already planning a major renovation.

You just need to plan for it in your numbers (ask the agent for a heating cost disclosure) and then you market the properties as "free heat"

I own a 3 flat with radiators, my bill is about $200/mo year round with budget billing and I charge about $50 more per unit for free heat.  

The good thing is boilers are built like tanks and if you properly maintain them they last 20-30 years