Six Oregon Laundromats with Real Estate, Deschutes County Portfolio

$2.7M

Revenue

$1.1M

SDE

7.0x

Multiple

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Full Editorial Writeup

This is a six-location laundromat portfolio in Deschutes County, Oregon, bundled with three commercial buildings and a management team already running day-to-day operations. The stores are outfitted with modern high-capacity washers and dryers, card and mobile payment tech, security systems, and folding and seating areas. The company reports roughly 55% of laundromat locations and an estimated 75% market share in its largest market, plus about 50% share in a second key market from a high-traffic location, which is real pricing power in a fragmented, sticky category.

What separates this from a plain coin-op is the layered revenue. On top of self-service laundry, the business is the only operator in its markets offering wash-and-fold and is positioned to serve commercial customer-owned goods (COG) laundry for business, institutional, and government accounts. That commercial layer is where recurring, contract-style revenue lives and where a buyer has the clearest path to grow without buying new retail sites.

At $7.75M against $1.1M of cash flow, the headline is 7.04x, but the deal includes $2.3M of FF&E and three commercial buildings, so a chunk of the price is hard assets rather than pure operating earnings. The listing is genuinely absentee, retirement-driven, and comes with seller financing at 50% down, 8%, and a 3-year balloon. The seventh laundromat and its real estate are available separately as an optional add-on.

Why we like it

Earnings quality is strong for the category: $2.75M revenue producing $1.1M cash flow and $1.07M EBITDA means the SDE and EBITDA are nearly identical, signaling the reported cash flow is not propped up by a large owner salary add-back. Laundromat revenue is cash-and-card, high-margin, and low-labor, and the 2 full-time plus 28 part-time staffing model confirms this runs lean.
The moat here is real and unusual for a laundromat: roughly 55% of locations and an estimated 75% share in the largest market, plus about 50% in a second market. Density plus prime high-traffic real estate creates local pricing power and makes it hard for a new entrant to build competing scale in the same towns.
Demand is genuinely recession-resistant. People wash clothes in every economy, and renters without in-unit laundry are a structural, sticky base. The commercial and government COG accounts add a recurring, contract-oriented layer that smooths the retail cash flow.
This is a rare truly absentee SMB with the management team already in place, which fits a capital-first buyer or someone building a portfolio. Seller financing at 50% down with an 8% note and 3-year balloon lets a buyer put in roughly $3.9M and let the assets carry part of the price.

How to improve it

Turn on marketing immediately. The listing admits advertising has been minimal, so a basic paid-local, Google Business, and SMS loyalty program across six sites is low-cost and should lift wash frequency and wash-and-fold uptake within the first quarter.
Push wash-and-fold as the growth wedge. The business is the only operator offering it in these markets, so aggressively pricing and promoting drop-off and delivery converts idle machine time into higher-margin, labor-leveraged revenue without new locations.
Chase commercial and government COG contracts systematically. Build a simple outbound pipeline targeting hotels, clinics, gyms, and municipal accounts, since these are recurring monthly volumes that fill machines during off-peak retail hours and stabilize revenue.
Optimize pricing per store using the dominant market share. With 75% share in the largest market, modest vend price increases on washers and dryers likely flow almost entirely to the bottom line, but test store by store to protect volume in the competitive second market.
Add or expand ancillary revenue: vending, snacks, drop-off tailoring partnerships, and ATM placement. These are near-zero-labor income lines that fit the existing footprint and improve per-square-foot yield across all six sites.
Tighten utility and equipment costs. Laundromat margins live and die on water, gas, and electric, so audit each building's utility contracts, verify the energy-efficient equipment is actually optimized, and negotiate consolidated vendor rates across the portfolio.
Underwrite and potentially execute the optional seventh location. If it can be bought at a sensible multiple with its real estate, folding it into the same management structure and back office is a fast, accretive bolt-on with minimal added overhead.

Diligence notes

Separate the operating value from the real estate value. Three commercial buildings are in the asking price, so get independent appraisals and confirm how much of the $7.75M is real estate versus a going-concern multiple on the $1.1M cash flow, since the true operating multiple could be far lower than 7.04x.
Verify the revenue and cash flow with machine-level and merchant data. Laundromats mix cash and card, so reconcile POS and card processor statements, utility consumption as a proxy for volume, and tax returns to confirm the $2.75M revenue and $1.1M cash flow are real and sustainable.
Scrutinize the leased-versus-owned mix. The location says real estate is leased, yet three buildings are included, so map exactly which of the six stores sit in the included buildings and which are on third-party leases, and review lease terms, renewal options, and rent escalators for the non-owned sites.
Confirm the absentee model actually holds. The value rests on the existing management team staying, so check the depth of that team, key-person risk, compensation, and whether managers will remain post-sale, since a single departure could quietly make this an owner-operator business again.
Assess equipment age and capex runway. Founded in 2015 with $2.33M of FF&E, verify the remaining useful life of washers and dryers across all locations and model the replacement schedule, because a wave of machine replacements would materially dent the reported cash flow.
Test the market share and moat claims. Validate the 55% of locations, 75% and 50% share figures independently, and confirm there is no new competitor or landlord positioning to open competing laundromats in the same trade areas that could erode the dominant position.

Source

Originally listed on BizBuySell. View original listing →