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Coin Laundry - 100% Absentee Run - Santa Barbara County

Santa Barbara County, CA

Coin Laundry - 100% Absentee Run - Santa Barbara County
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Asking Price: $195,000

Cash Flow: $50,400

Gross Revenue: $174,000

EBITDA: N/A

FF&E: N/A

Inventory: $300*

Rent: $1,200 /Month

Established: 1988

*not included in asking price.

Coin Laundry - 100% Absentee Run - Santa Barbara County

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Business Description

100% absentee owner - run by an employee. Long established for over 30 years under current family ownership. Located near coast and Vandenberg Air Force Base. 39 washers and 20 stack dryers with boiler and hot water tank. Low low rent - $1,200 with long term lease. Potential to gross $20K+ if new owner replaces old washers and dryers that will reduce water bills and repairs bills. A rare opportunity to own a coin laundry in Santa Barbara County. The owner can't operate and wants to sell because he lives out of state -a way east.

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Detailed Information

Location:
Santa Barbara County, CA
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
2,000
Lease Expiration:
1/1/2024
Employees:
1
Facilities:
New boiler (2014) and hot water tank (2017)
Competition:
There are some competition.
Growth & Expansion:
With new washers and dryers and right management, there is good potential to gross over $20k that can generate good income for the owner.
Reason for Selling:
Owner lives out of state
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(from currently available funds)
 
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Douglas Kim

Business Listed By:
Douglas Kim

Douglas Kim

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