Coin Laundry: Rev $458K Net $170K Ask $500K, LA

Panorama City, CA (Los Angeles County)

Coin Laundry: Rev $458K Net $170K Ask $500K, LA

Asking Price:$500,000

Cash Flow:$169,860

Gross Revenue:$458,400





Coin Laundry: Rev $458K Net $170K Ask $500K, LA

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Business Description

Coin laundry business is conveniently structured for an additional living space w/3 beds and 1 bath at 2nd floor. It is also a free standing building adjacent to street retails streets and a dense residential community. A steady netting of $14,155 per month is produced from this decent coin laundromat

Detailed Information

3 PT
Coin laundromat plus mini market situated at a free standing building off the street. Highlights of business summary on operation, sales and income prepared for on a basis of month shown below: (1) Gross sales per month are $38,200 whose gross is composed of - $25,000 from washers and dryers - $12,500 from mini market - $700 from vending (2) Net income per month is $14,155 (3) Current rent payment per month is $5,800 fixed 'til 2020 (4) Four (4) years remaining on the current lease plus 5-year option (5) Additional room for rental or living w/three beds and one bath is available on second floor (6) Store size is approx. 5,500 SF (7) DWP bills per month is $6,800 (8) $3,800 per month paid out to 2 of part time employees (9) No fluff & fold service (10) Business hours: 6 am to 10 pm seven days a week (11) Equipment (Speed Queen) • 13 x top load washer - price/load at $1.50 • Large Washers (a) 6 x 20 lb - price/load at $2.00 (b) 23 x 30 lb - price/load at $2.75 (c) 4 x 40 lb - price/load at $3.75 (d) 11 x 60 lb - price/load at $4.50 (e) 4 x 80 lb - price/load at 6.25 • Dryers: 31 x 30 lb Stack - price/load at $0.25 • Additional facility: 2 coin changers, 2x2 Rowe Changers, Water machine w/8 faucets (12) Good parking space is in front and side
Growth & Expansion:
Not available
Support & Training:
Two weeks to be trained after closing
Reason for Selling:

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Kevin (Yong) Kim

Business Listed By:
Kevin (Yong) Kim

Bee Realty Group

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