Water Heaters Multi Family

[Steven Clark]

Hello,

I currently have a 3 unit all 2 bedroom multi family house with 1 central water heater. The water heater that currently is in place is definitely undersized (55 gallon) and 13 years old. As the landlord I pay the gas bill of $90/month. I was looking into replacing within the next year or so and thought about switching to 3 electric 40 gallon water heaters. Each installed would cost me $1k ROI would be 2.7 years. I dont want to go gas on the water heaters as I currently only have 1 gas meter in the house. (All units have there own oil furnace)

Whats your thoughts on this plan? My intention for the property is a buy and hold while currently house hacking.

Thanks BP