Coin laundry for 4plex - replace machines or use a service?

[Raquel D.]

Hi everyone,

I need to replace a gas washer and dryer at a 4plex in Dakota County.  The units were recently remodeled, and the laundry room is the only thing left to tackle.   Currently there is one coin operated dryer and one washer, both gas, and they are in very poor shape so they definitely need to be replaced.

My question is:  Should I buy a new coin-operated washer and dryer, or should I use a company that would supply the machines and handle service?  

If I buy new machines - any suggestions for reliable but inexpensive units?  The 4plex is newly remodeled and in a decent area, but with the age of the building and size of the units, top-of-the-line appliances don't really make sense.  I have heard good things about Speed Queens.  Whirlpools appear to be an economical choice, but reviews seem to indicate they require too many repairs.   

If I use a company - what are some of the companies around here?  I have heard of arrangements where the company keeps a percentage of the coin income, or of lease arrangements. The attractive factor for me is that they handle service/maintenance, even if it's less laundry income.

I have considered forgoing the quarter machines entirely, but I have another 4plex in Hennepin (south of Minneapolis) that came with a coin washer and dryer, and the amount of income is surprising.  I plan to hold both 4plexes for many years, so if I buy the machines, it seems like they'd pay for themselves in two years if the income winds up being comparable to the other building.

Open to any suggestions - but I'm posting this in the Minneapolis because I'd like to know what are good local options.  (If I buy a new washer and dryer, I would definitely need them installed and the old appliances hauled out, too.  If I go with a company, I'd probably eventually switch the other 4plex to that company and sell the washer/dryer that's there.)

Thanks!!