Oil to Gas Utility Conversion

[John Knisely]

I'm looking at a multi-unit deal in Delaware County right now where the current owner pays all utilities except in-unit electricity. According to numbers I've received from the listing agent, the annual heating/oil expense is just shy of $11,000 a year. The property has 2 above ground oil tanks and 1 in ground oil tank that has supposedly been "inerted" (if that is the correct term) if that matters.

Is anyone experienced in converting utilities like this? Seems like there could be a noticeable increase in cashflow if I could convert away from oil. I even wonder about the possibility of doing electric heating (baseboard?) in some fashion in order to put the expense onto the tenants completely. I am confident (will verify with PECO of course) that the property has a street-side gas main so there would not need to be costs associated with extending a main.

The property has central air, oil heat and oil hot water. Looking to understand general cost of conversion (ballpark) and if anyone has any recommendations on contractors or companies I'd be happy to contact them.