Should I install a coin-operated washer-dryer in 2-family?

[Monica Chan]

Hi all,

I’m currently in contract for a 2-family in Jersey City (newly renovated in B/C area). There are no washer/dryer in either unit, and the closest laundromat is 0.5 miles away. I’m considering installing a set of coin-operated washer/dryer machines in the basement common area, 1) to make the units more appealing to renters, and 2) to make a tiny little bit of side money from the machines. Do you think the machines would be a worthwhile investment?

[John Warren]

@Monica Chan if the 2 unit is in a nicer area you might just install laundry machines, not coin operated ones. My experience thus far with coin operated machines is that they are very expensive up front, and break down at a similar rate as other machines. I can buy a used washer or dryer for $100-150, but a coin operated machine costs $300-400 used. I have machines in my Berwyn 9 unit, and we only bring in around $150 per month. I also have machines in a C class 20 unit building, and we bring in a measly $120 per month. I do not consider this worth the effort to upkeep the laundry machines!