Elevator maintenance, lifespan, inspection

[staneja]

Hi
I`m looking into purchasing a 5 story building that has an elevator. The elevator is serviced every month, and has the appropriate safety license, but as part of the due diligence process, I do want it inspected.

- Anyone know of a good elevator maintenance or inspection company working in the Hamilton area?
- Also any ideas of what the expected life span of an elevator is? This one is about 40 years old.

Thanks
Sumit

 

[Thomas Beyer]

QUOTE (staneja @ Dec 11 2009, 05:59 PM) - Also any ideas of what the expected life span of an elevator is? This one is about 40 years old.
30 .. maybe 40 years .. expect to replace it very soon .. budget 125 to 180K !!

cost per year is 3000 to 5000 for grease, parts, oil, inspection, minor repairs ..

 

[housingrental]

Hi Sumit
There are much better opportunities for you elsewhere.
Adam

 

[orei]

Is the elevator hydraulic? Or roped? Is the cylinder buried? If it is, and is 40 years old, it will not have a PVC casing around it.

Likely, given the vintage it is a buried hydraulic elevator. There is a push in the industry to replace these as there have been cases of catastrophic failure due to the caseing leaking or rupturing. If there is a leak, you must also consider the environmental issues around this (take a smell inside the cab - the smell of oil is a bad sign). If the elevator has been professionally maintained (as it must), then there should be logs that indicate if the maintenance tech has had to add oil monthly or at all. A review of these logs is a great start. Has the elevator cab been upgraded to meet the latest elevator code?

Replacing a 5 story with a new hydraulic can cost anywhere from ~$80,000 - 250,000. Depends on what product you want and if the size of the elevator hoistway will support some of the newer technologies. Look into roped hydraulics, as the cylinder does not have to be buried but sits inside the hoistway.

All said, a hydro that has lasted 40 years can last another 40 years easily! BUT, you should budget for a replacement immediately - there are a lot of different circumstances that come into play.

There are many engineering consulting firms that specialize in elevators. Your good friend Google can help you with this.

 

[Nir]

QUOTE (ThomasBeyer @ Dec 11 2009, 11:08 PM) budget 125 to 180K !!

Unbelievable! didn`t know an elevator can be such a deal killer, or that it is the most expensive item - even more than a new roof! good to know. thanks.

 

[Thomas Beyer]

QUOTE (investmart @ Dec 12 2009, 09:10 PM) ..elevator can be such a deal killer, or that it is the most expensive item - even more than a new roof ..
why a deal killer ?

You are buying a USED product .. as long as the price is right it might be a GREAT deal !!

Budget any issue and adjust price accordingly.

Any building we buy has issues .. some small .. some large .. the key is knowing them and adjusting what you pay accordingly. A building in a good location with a leaky roof or a failing elevator MAY BE a great deal .. a building in another location in tip-top shape might be a (comparatively) lousy deal !!

 

[Nir]

QUOTE (ThomasBeyer @ Dec 13 2009, 04:13 PM) why a deal killer ?

because for 180k down, instead of fixing an elevator, you can buy a 1 Million dollar apartment building! (with some VTB options). am I missing something?

well, if it`s a $4 million building where you put $1 Million down... then perhaps with a 180k elevator expense it can still be a great deal.