Annual Operating costs for a 3-family?

I am trying to get a couple of examples of operating costs for a 3-family – @3000sf. The property in mind is a duplex and 2, 1.5 BR all-tenant occupied apartments. Specifically : annual gas, annual water, annual electric, insurance and taxes.
Any ballpark or specific examples that you could offer would be most appreciated!!

nyflicka

in Accounting 12 years and 10 months ago

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chariset | 12 years and 10 months ago

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This is great information. I’m thinking of purchasing a 2-3 family home within 2 years and needed a rough estimate of annual costs. Thank you.

boredatwork | 12 years and 10 months ago

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Not sure if this is truly comparable, but we own a 2-family 3000 sq ft, with a single tenant and an owners triplex with a family of four.  Our annual costs are about $800 for natural gas (heat for entire house, hot water, cooking gas and one drier (owner’s only)), $1100 for water, about $3000 for owner’s electric (including cac), $1100 insurance.  Taxes are $4800, but completely dependent on neighborhood, condition, etc.

mrohrmann | 12 years and 10 months ago

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Assume 30% of gross income as ballpark for operating expenses, but figure safe to have add’l $20-$30k cash on hand in case there is emergency repairs needed. depending on efficiency of the building and locations those numbers will vary but thats not a bad starting point.