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Echo Park Area Coin Automated Laundry
Location: United States -> California -> Southern California - Los Angeles Area -> Los Angeles
Industry: Business Services > Laundry




Business Summary

This semi-absentee operated echo park area coin laundry boasts the latest and greatest in modern eco-friendly fully automated machines. They also provide convenient drop off wash and fold and dry cleaning service. The business has an onsite parking lot and excellent freeway access. It is ideally located to conveniently service several nearby communities as well as neighborhood residents. It is a popular go-to location for the area's young and hip resident base.

Asking price: $695,000

this coinless facility operates out of a 1,400 square foot facility that leases for $4,155 per month including common area maintenance (cam) on a lease until 6/2025 with two 5 year options (with 3.0% annual increases during the option periods). It boasts nearly 30 front loading machines, all operated with an automated card system. Approximately $400,000 was originally invested in the facility and equipment. All of the business's furniture, fixtures, equipment and goodwill will be included in the sale.

While competition exists, this convenient location with onsite parking, excellent freeway access, and new eco-friendly equipment, an automated card-driven operating system and additional customer focused provides it a unique advantage.

New operators will likely want to simply maintain this operation ---as-is'. In the near future, a large apartment development should be completed. While the complex will offer laundry options to residents on each floor, they will likely only have a limited number of units available --- which should result in those customers with multiple loads simply doing their laundry at this facility. Regardless of where they choose to do laundry, they should see a significant boost in their fluff and fold and dry cleaning services.

The seller will considering financing 30% of the sale price on a secure noted to a creditworthy buyer, depending on offer.


Financials

Asking Price Range:  $500K - $1.0M
Gross Revenues:   $358,876
Cash Flow:   $183,695
Cash Flow Type:  Sellers Discretionary Cash
Inventory:  $200,000
Seller Financing:  Yes

About The Business

Year Established:  2015
Number of Employees:  4 - 5
Relocatable:  No
Franchise:  No
Current Real Estate:  Leased
Property:  Property For Lease

About The Sale

Management Training and Support:  2 weeks at 20 hrs/wk
Reason For Selling:  Personal

Photos

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Echo Park Area Coin Automated Laundry Photo 1




Print Listing Id: 700327742
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Also See: Franchise Opportunities > Franchise Resales > California Businesses For Sale > California Franchises For Sale > California Business Brokers



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