Spokane Apartments: Email Responses

I’ve been in email conversation with person I got introduced to while being on the Radio, I love reading other people’s insight into the project that I am working on.

Wow, thanks for the insight VH.

> I see you want remove boiler in order to reposition basement for storage
> units for applicable apts.
> That would make apts more attractive. SO you will put in electric heaters
> I suppose?

The boiler is Original from the Early 1900's and has already been decommissioned.
There's shared water heaters in the basement too old and not enough gallons for the full 36 units, they are natural gas.  They would be replaced with new high
efficiency models.

> What type of radiation does bldg have for heating? Hot water column type
> radiators outside the wall?
> That is the most comfortable and most energy efficient thereby the most
> attractive for renters. Also most retrofittable
> for alternative energy conversions since based on fluid dynamics as heat
> transfer medium.

The apartments currently have Electric Baseboard heaters. These are pretty old and should be replaced too. Some look like they have had code violation wiring work done on them.

> I don't know the neighborhood off hand but I do
> know vintage bldgs that retain authenticity are valued much higher and
> normally command better tenants.

It's a low income neighborhood and this would be a low income/section 8 housing. The great thing about this property is that it is right across the street from
a new Subaru dealership, with their used car lot next door.  They have 24 hr security making the property safer with less crime then the rest of the neighborhood.

> Just keep ideas. I have called you but I suspect we are both difficult to
> get a hold of by phone at times.

Hrm, do you have the right number? xxx-xxx-xxxx?

> When was bldg built?

1902

> Have you done a physical inspection for wood rot and
> bad foundation type thing?

It is a brick building I have not done a full inspection but a spot inspection. There are open walls that I have inspected and have seen no indication of wood rot in the framing.

>Roof status? Looks flat so ponding water is probably occurring?
It is a flat roof structure, but the roof was redone recently 2012, and has a greater than 1"/6' slope to it

VH wrote:
> Troy, Big rehab costs. Removing boiler....is that good idea really?
> 36 units is allot but a crew of 3 guys can do the rehab in 4-5 months or
> 8-12 months.
> I see lost cost entry and too big renovation cost projected.
> I will dive in more from info you gave. I see lite remodel.
> Best regards,

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