2-Coin Laundry: Rev $504K Net $240K Ask $1.05M, LA

Los Angeles, CA (Los Angeles County)

Two Coin Laundromats on one Parcel, LA

Asking Price:$1,050,000

Cash Flow:$240,000

Gross Revenue:$504,000





2-Coin Laundry: Rev $504K Net $240K Ask $1.05M, LA

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Business Description

Better-than-expected income coin laundromat business: 2 stores at one parcel surround by Hispanic community and apartment homes and operated under absentee-owner. WASCOMAT brand installed storewide and all in good condition so less maintenance worries. Currently, a steady net income of $20,000 per month is propelled from both stores. Price is negotiable, too.

Detailed Information

3 P/T
Street retail type two Coin laundromats situated with each of free standing store on the same parcel facing each other. The highlights of business summary on its operation, sales and income prepared for on a basis of month shown as follows; (1) Gross sales per month are $42,000 from two stores: • “A” store - $16,000 • “B” store - $26,000 (2) Net income per month is $20,000 (3) Expenses • Rent per month: $8,300 including CAM charge • Pay roll per month: $3,500 • Average utility bills per month: $11,750 including misc. bill payment (4) Long term lease remaining 12 yr-leftover plus 15-yr option to extend (5) Store size is approx. 4,200 SF • “A” store: 1,200 SF • “B” store: 3,000 SF (6) Average GAS bills per month comes to as reasonable as $11,500 (7) Employees: 3-part time (8) No fluff & fold service (9) Open 24 hrs a day seven days a week (10) “WASCOMAT” washer and dryers equipped and all are in good condition (11) Ample parking is in front, rear and side (12) Reason for selling: No like the business (13) Operated for 3 years under the current ownership (14) Possible SBA or Commercial loan may be available for experienced and/or qualified buyer (We will arrange the bank financing for buyer before presenting the offer)
SBA Loan (7a) w/30% Down may be available for qualified and/or experienced buyer
Support & Training:
Two weeks to be trained including consultant after close of escrow
Reason for Selling:
No like business

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Kevin (Yong) Kim

Business Listed By:
Kevin (Yong) Kim

Bee Realty Group

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