Where do I find washing machines for a laundry room of a 4 unit?

Question

Hi. I am starting renovations of a 4-unit which I own in Yonkers, NY in May. I am thinking of using one room in the basement as a laundry room, with one washer and one drier.

I was told by Hercules (www.hercnet.com) I was too small for them to consider leasing machines. They sell machines for $1500 each which means an ROI in 7 years if every unit uses each machine once a week for 52 weeks at $3.

I considered installing the plumbing in every apartment and let tenants buy their own machines, but that means I'll never make the extra revenue and I take the risk of leaking and flooding impacting the apartment below.

Do you know of a cheaper option? What's your advice?

Yes yes I know I should buy 20 units next time ;)

Thanks a lot.

Alkis from Manhattan.

Alkis Valentin · Answer

Thanks Jeff. I just submitted a quote request with macgray. will keep you posted.

Alkis Valentin · Answer

Mmmhh. Sounds like setting up machines in each appartment is the safest investment. Everyone is responsible for their own machines. Amy, would you set up washing machines in each apartment rather than a laundry room if you had to do it again?

Amy A. · Answer

You should be able to buy coin-operated machines from Sears or Lowes for around $700 each.  I've had a few tenants who don't do full loads of laundry when I'm paying for water.  They'll do laundry every day and wash just one outfit.  Just something to keep in mind, but  you have to do what is demanded in your market.    I like that  my machines make some extra money and save me on the water bill.  However, they often need repairs (especially the newer ones) and can result in some drama.  Right now I'm battling a tenant who puts feces-covered clothing in the shared machines.  Some things you never imagined you'd have to put in the lease!

Lawrence L. · Answer

Thank you@Roy N. for the info. That is defiantly something to think about.

Roy N. · Answer

Lawrence,

Plumbing wise, typically we need to extend water and drain lines and maybe add a vent.   We also need to run two electrical circuits (110 15A for washer; 240 30A for dryer) to wherever we install the laundry pair.  This is why we usually do this during a renovation.

As for repairs, they would be our responsibility, unless we can prove misuse, just as with any other appliance.  That said, we install a new high-efficiency laundry pair.  With the extra rent and the ability to depreciate the appliances (20%), they are usually paid for between 2.5 and 3 years.  It has been our experience that such appliances usually fail within the warranty period (manufacturing defect) or failures from use occur  5-8+ years out.   At that point in time, we'll simply replace them with another set.

Jeff Bridges · Answer

Did you Check with coinmach as an alternative to hercules? Mac-gray also appears to service NY. worth checking with these guys. One of them might throw in free machines and maintenance and just have a income share model like 50/50 of proceeds. That's what I do for my 13 unit condo association. The downside is you will likely have to lock into a 5 year agreement for it to be worth their while, so be sure to review the contracts carefully and see how easy it is to terminate the contract. Or you can lease the machines or buy them and be responsible for your own maintenance and collection.

https://www.energystar.gov/products/appliances/commercial_clothes_washers/commercial_laundry_route_operators_and_distributors

Alkis Valentin · Answer

Thanks Roy. yes i would have to install mew plumbing in the apartment or in the basement. I think you have a valuable point about the cost of water and electricity which makes sense to push to the tenants. Either i find an affordable solution to install a card payment system on

Gino Barbaro · Answer

@Alkis Valentin

HI Alkis

check on cries list to see if anyone is selling units.  You might have luck with eBay also.

Lawrence L. · Answer

@Roy N. Questions  1. Do you have to put new plumbing in to handle the washer and dryer 2. who is responsible for repairs of washer...dryer if it breaks down.

Roy N. · Answer

@Alkis Valentin

We moved to ensuite laundry in all of our smaller properties (<=6-units).  As we renovated units, we simply put a stackable HE laundry pair in each and did away with the common laundry room.  The convenience of en-suite laundry allows us to command $30 - $50 more in rent each month - meaning a faster payback and we are not paying the utilities (hot water, electricity) for the laundry.

It's all dependant upon your market and target clientele, but it is another approach.