Toronto/New york, Ontario/New york · Member since 2016 · 2 posts · 0 votes
We are trying to purchase an apartment building right now but the problem is the hydro costs. The property was built in the 60's in 3 phases and according to the owner there is a possibility to change the electric heating system to gas for an estimated cost of $300,000. Does anyone have any solutions to convert from electric to gas in a concrete building? Any thoughts on the purchase as well would be appreciated.
I converted a building recently to gas from electric. That saves tenants (or landlords) a lot of money. It will also create value for your building when you want to sell it one day. The electric buildings are a turn-off.
I don't have much information about your buildings, but if you can run a gas line to each unit, then you can build a furnace room and ductwork through each unit.
@Roy N.@David Dachtera@Brian Ploszay Hey guys, there is one electric heating meter. There is a gas line that will supply the water heater. It is a tankless system that heats the water and sends it to the rooms. The hot water tank boilers were removed.