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Updated over 8 years ago, 04/10/2016

User Stats

16
Posts
0
Votes
Alkis Valentin
  • Investor
  • New York City, NY
0
Votes |
16
Posts

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

Alkis Valentin
  • Investor
  • New York City, NY
Posted

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.

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