Profitable Coin Laundry: Hi Rev $481K, Net $181K, SBA Ava, Prc $770K

United States

Profitable Coin Laundry: Hi Rev $481K, Net $181K, SBA Ava, Prc $770K
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Asking Price: $770,000

Cash Flow: $180,840

Gross Revenue: $481,200

EBITDA: N/A

FF&E: N/A

Inventory: $2,000*

Rent: $8,050 /Month

Established: 2012

*not included in asking price.

Profitable Coin Laundry: Hi Rev $481K, Net $181K, SBA Ava, Prc $770K

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Business Description

Decent sales volume of coin laundry, broad-widely designed laundry facility for convenient and ez work.
A coin-op laundromat business with a steady trend in an advantageous coin laundry environment with dense population and high renter demographics.
Surrounded by neighborhoods with a majority of Hispanic and African Americans.
Stand-alone building with 2-unit. Well exposed in major corner traffic. Ample parking space. Lots of extra income. Absentee run profits. It’s Turn-Key. 7 years in business.
This business makes you money even when you are not around. A 15-year long-term lease in place. 3 full-time and part-time attendants / Janitor. Nicely and cleanly organized and well maintained. spotless.
Equipped with top brand high efficiency coin washer and dryers. Most FFEs are over 10 years old, but they are in good working condition and there is no broken equipment. This is because the seller has managed the business efficiently and well. And you can continue to do so through the seller's training or know-how transfer. Below is a brief overview:
• Gross turnover: $40,100/m on average
- Laundromat income: $36,000/m - Other income: $4,100
• Net operating income: $15,070/m
• All-in rent: $8,150, including NNN
• Huge size: 5000 sq.ft
• Lease: 5 yrs plus 2x5 yrs options
• Employee: 3 FT or PT attendants/janitors
• Wages: approx. $6,200/m, including payroll tax and W/C
• Business hours: 6 am to 10:30 pm 7 days
• FFE: 71 Maytag Washers, 41 Wascomat stack dryers and more
- 71 washers, Maytag- 6 top load Maytag, 6 front load Maytag, 3 x #75, 8 x #55, 24 x #40, 12 x #30, 12 x #20
- 41 stack dryers, Wascomat
- 2 coin changers, soup selling counter, 1 vending machine and video game
• Established for 7 yrs
• A total of utility usage averages abt $9,000/m, and additional operation expenses of abt $1,800/m
• SBA loan (7a) is available with 30% or $230,000 down. Estimated a monthly amortization of approx. $6,270 over 10 years at 7% annum
• An online NDA form attached for your convenience. Sign and return for ‘a walk-by’
• For more details, contact Kevin Kim at beeinvest.kim@gmail.com. For a voice mail, dial 714.345.6514
• For faster service, come to Bee Investment Inc at 5730 Beach Blvd. #200, Buena Park, CA 90621

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
5,000
Lease Expiration:
9/30/2034
Employees:
3
Facilities:
Semi-absentee, Ample parking, 71 washers, Maytag- 6 top load Maytag, 6 front load Maytag, 3 x #75, 8 x #55, 24 x #40, 12 x #30, 12 x #20 41 stack dryers, Wascomat
Competition:
Yes.
Financing:
SBA loan w/30% down availabl
Support & Training:
2 weeks after closing
Reason for Selling:
Full retirement
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Contact the Seller

(from currently available funds)
 
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Kevin Kim

Business Listed By:
Kevin Yong Kim

Bee Realty Group

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