Value of Coin-Op W/D in Small Multi-family properties

[Aaron Nelson]

Hey Landlords!

I am looking at installing a coin-op washer dryer for one of my small multi-family

(2-4 unit) properties in Tacoma and have some questions:

1) Has anyone analyzed roughly how much you make per housing unit on coin-op laundry (washer and dryer) after utility costs? If so, will you please share your findings?

2) Do you own your own machines or rent them from another company?

3) How much do you charge to wash/dry per load?

I know there are some variables because water/sewer/electricity charges vary by utility company but I am just looking for ballpark estimates.

Even if the income from the W/D breaks even with the utility costs, it seems like this might allow you to justify higher rents because of the added amenity...plus it keeps your tenants happy, possibly reducing turnover.

Thanks!