Old Victorian Multi-Family Utilities 1800s
Hello everyone,
I am looking for help from experts in Victorian old late 1800s property investors. I know there are a lot you out there in Massachusetts, Philadelphia, and other northeastern states. My question is regarding utilities, I am working on the numbers for a deal but I can't determine what the utilities would be.
The house was built in the late 1800s and recently had a mostly cosmetic update. It is a very large home around 3000 square feet. 4 units, all 1 bedrooms. Gas, water, and electric are all on a single meters. About 40% of the windows are new and the rest are old single panes. I can't say for sure how much insulation there is but I'm guessing very little. No central air, old furnace in need of replacing, old 50gal hot water heater.
How much would you estimate the electricity to be?
I have about 10K I could use to make it more efficient, where would it be best spent?
From my analysis, it looks like utilities included properties wouldn't quite cover the cost of utilities. Would it be best to separately meter one or more of the utilities?
Also, what should I do about soundproofing floors or ceilings in these old homes to cut down on complaints? Or is the money better spent elsewhere?
Thank you for your time.
P.S. I would be happy to expand if there are more questions.
Regards,
Kyle