Coin Op Laundry Leasing

[Rich Lodge]

Does anyone have experience with leasing coin op laundry in small multi families? I’m aware of some places that have a minimum unit requirement, but would like some options for our 5 unit portfolio (or maybe only a portion of that).

[DL Martin]

Cincinnati Coin has 4 washers and 4 dryers in my laundry rooms. My monthly check is right at $500 per month. I think that the split is "50/50"... I have never signed a contract with them and the machines were in my complex when I bought it 2.5 years ago. 

As others have said, a $4,000 investment in my own machines (4 washers/4 dryers) would break even in 4 months, if you assume that I would take the full $1,000 per month instead of the $500 that I receive now... And if I added Coke Machines in the laundry rooms, that would probably bump me another $200 bucks per month... 

which would make the $1,199 per month lease payment on the 2018 Porsche 911 I've been looking at.

DL