How is the property being used? If it is being used as a 3 family with tenants, then yes there is a problem.
If it is being used as a two family (under used) it is not necassarily a problem, but again it depends on who is occuying the building? Owners family? Tenants? There should always be a separate electric meter for the public hallway lights, if tenants occupy the building. Tenants should not have a light bulb or an outlet in the hallway, used for vacuming the public hallway/stairway on their meter, this should be on the landlords account.
It is always best to have a three family wired for 4 meters; one for each apartment and one for the public hallway/celler andoutside lights. But if the landlord is paying for the electricity or two apartments are being used by one occupant?.
The meter requirements are to protect the tenants from paying for electricity used by others in the building. But even this if it is fully disclosed and agreed to is not an issue.
As for a property being for sale, obviously if it is not wired for the legal use, it will impact the sale price. But I have often seen properties wired one way, but combined at the meter box to avoid the minimum bill on one of the meters that has been combined to one meter.
An Electrician can identify this for you.
I hope this helps?
Kathryn Lilly, Broker
Realty on the Greene, LLC