Tackling deferred maintenance and CapEx on 100-year old buildings

[Jc M.]

Hey RE Team,

I have several multi-families in Cleveland that are all 100+ years old which is typical for the area. Needless to say, maintenance is an ongoing expense and headache and I have furnaces older than most people on this forum. I want to proactively address maintenance needs starting in the basement. My thought is that much of the water and electrical issues we encounter begin there and can be stopped at the source. My hope is to head off +50% percent of maintenance issues before they happen and make ongoing maintenance easier by doing the items below, all at once. I think it might cost me $7.5k-$10k labor-materials/duplex and twice that for a quad. I also have wiggle room for vertical stacks that might need replacing, electrical panels and/or furnaces. What do you guys think and what do you recommend?

PLUMBING — SUPPLY LINES

• Remove all accessible galvanized supply lines in basement
• Install PEX trunk and branch system to each unit
• New main shutoff and individual unit shutoffs (label by unit)
• Proper supports, labeling, and pressure test
• No in-wall work unless absolutely necessary

PLUMBING — DRAINS

• Replace all horizontal cast-iron drain lines in basement with PVC
• Replace only visibly failed vertical sections
• Add minimum one accessible cleanout
• Check all vent stacks in attic
• Insulate exposed vent stacks as needed
• Tie into existing stack and sewer lateral

ELECTRICAL

• Remove abandoned/exposed knob & tube in basement and attic only
• Secure open junction boxes, cap unused wires
• Panel tighten, label, safety check
• Replace unsafe breakers if found (no panel replacement unless quoted separately)
• Install basic LED pull-chain or strip lighting in basement common areas

WATER MANAGEMENT

• Seal visible foundation penetrations and cracks (interior)
• Improve grading where soil slopes toward foundation
• Add/extend downspouts to discharge away from structure

[Marcus Auerbach]

That would cost more than your budget and also be a waste of money. Your plumbing system is still a mess AND you can't generate more income.

Rehab the units one by one as the turn over. Then rent at new value.