Odd Property, is it possible to create an HOA for 2 properties?

[Mindy Jensen]

Odd property, one house and one 5 unit building being sold together. Separate lots, taxes, insurance, but combined water and sewer.

To separate the utilities would cost $40k for tap fees and sewer, because sewer runs one direction, water runs the other.

Can an HOA be created to cover the water/sewer bills between the two properties to sell the house and keep the building?

Any other creative solutions to this weird property? @Jeff F.