Coin Laundry??

14 Replies

Just for two units? 

A decent commercial quality washer ( that is normal sized - not like in a laundry mat ) will cost you anywhere between $800-$1,200. But if only for two units, you might be able to pick them up off craig's list. Lowe's has some as well. 

We have 2 washers and 2 dryers in a 10 unit and make about $500 over 2 months. We pay for water. It serves us well.

Oh I forgot to mention that I used to rent an apartment not too long ago that charged you extra to use the washer/dryer. I guess it is possible to buy a regular washer/dryer, and charge an extra $25 a month to use them. I paid an extra $40 a month to use them, but it was worth it to me. Of course if you are not around to police it, it could be an issue. 

I am contemplating on what I should do with laundry for a duplex I am just acquiring. I was thinking about buying one coin op washer and one coin op dryer and letting the tenants share it. Also considering letting the tenants bring in their own equipment and simply charge them $25 more in rent. My biggest thing is I am not trying to make money off this, just simply cover the water bill. Just though to determine how much the water bill would be...

when it is free, people will do laundry much more frequently, sometimes be wasteful, and sometimes abuse it.  we have free laundry in our building and sometimes find they are being wasteful and are washing 1 item at a time, such as a rug. no wonder the laundry machine is always in use!  also i found they used our machines to wash clothes for charity, and that day the laundry was in use ALL DAY long and no one else could use it.  we are thinking of switching to coin laundry just to curb this kind of behavior.

my opinion is always do coin op. that way you can recover some of the money from laundry to pay the water and sewer bill and it usually will pay for itself in one year. an like others have said and know first had, there is a very high possibility for abuse, a friend of mine had his included in rent then one day he went by the house the people that didnt even live there was using it .. smh 

I would not do for a 2 unit.  good advice I received was 8 units and up.  that way the payback comes faster to make up for the cost of the machine, repairs, space utilized, water, etc.

I'm new to the forums but I'm researching a deal and considering getting a couple coin operated washers and dryers. I have heard great things about Speenqueen brand. I called them today to see about leasing options, but do to my location that option wasn't available.

Company located in Miami FL - however you have to pick up or set up your own freight to have them shipped.

I found a local retail store that can order them for me if my real estate deal goes through.

washer and dryer refurbished $1050 for set 30 day warranty
washer and dryer new $2100 for set (can't remember warranty information)

Maybe this will help someone.

In a duplex you will barley recoup the cost of machines and maintenance. Long term solution would be to invest in metering separate water between units install washer & dryers in units and bill back the water usage.  

My opinion is that coin op machines will only end up as a additional expense.