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Updated over 1 year ago on . Most recent reply
Installing Laundry Machines
Hello,
I have a 4 unit in Long Beach CA and want to install a laundromat for the tenants. I will make additional 3ADUs in the same lot. The total number of units will be 7. Is it worth having a laundromat for the tenants? Considering the cost of a separate meter(1500$), plumbing, water bill, electricity, and future repair and headache?
Thanks!
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#5 Multi-Family and Apartment Investing Contributor
- Investor
- Shelton, WA
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#5 Multi-Family and Apartment Investing Contributor
- Investor
- Shelton, WA
If you are talking a coin or card wash I have that in a 12 unit and it pays for itself easily. 7 units you would break even but the convenience factor is important. The type of tenant pool that I think you are aiming for do not want to spend Saturdays hanging out with a bunch of washing machines miles away from where they live. So I think it is a competitive advantage others mat not offer. Check out your competition, see what they provide.