2 Coin-Op Self Car Wash & Land: Rev $272K Net $204K Ask $2.2M-LA/OC

Long Beach, CA (Los Angeles County)

Seller Financing Available
2 Coin-Op Self Car Wash & Land: Rev $272K Net $204K Ask $2.2M-LA/OC

Asking Price:$2,200,000

Cash Flow:$210,000

Gross Revenue:$810,000

EBITDA:N/A

FF&E:N/A

Inventory:N/A

Real Estate:N/A

Established:2011

2 Coin-Op Self Car Wash & Land: Rev $272K Net $204K Ask $2.2M-LA/OC

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Business Description

2 Coin-Op Self Car Wash & Land: Rev $272K Net $204K Ask $2.2M-LA/OC

Highlights:
1. 100% owner-absentee business
2. Land & Property included in purchase price
3, $17,000 and up decent net income per month is made
4. Hassle free and easy operation
Be noted that this listing won't last longer at market

Detailed Information

Real Estate:
Owned
Included in asking price
Building Sq. Ft.:
2,720
Employees:
1 PT
Facilities:
Established two Coin-Op Self Car Wash Business and Land/Property located in Orange County and LA County respectively and both are surrounded by a high density of Apartment homes and residential areas: It is absolute owner-absentee business. The highlights of operation summary and financials prepared for on a basis of month are found below: (1) Gross sales per month are $22,670 consisted of the following • $11,000 from location #1 in OC • $11,670 from location #2 in Long Beach (2) Net income per month from two locations is $17,000 and up (3) Land/Property Size • Approx. 9,706 sqft at location #1 and bldg. size - approx. 1,360 sqft • Approx. 13,203 sqft at location #2 and bldg.size (4) Four bays installed at each location (5) 1-part time employee is at work (6) Cap rate is as high as 9.7% or up (7) Verification of sales and income: books and records reported, bank statements for coin changes plus conducting a due diligence for a month to check up each location together with seller to physically see when taking coin monies from cash boxes (8) Owner financing: For qualified buyer, owner will carry back up to 50% of purchase price subject to an interest rate at 6% annum for 10-year installment payment term (9) SBA loan with 30% down may be available for qualified buyer. We will arrange the bank loan for you at a comparable market rate
Competition:
None
Financing:
50%-60% on 10-year term
Support & Training:
Two weeks trained after closing
Reason for Selling:
Investment another property

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Kevin (Yong) Kim

Business Listed By:
Kevin (Yong) Kim

Bee Realty Group

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