Details - Information last confirmed on March 18, 2021
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.
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.
Training: 2 Weeks at 20 hrs/wk
The seller will considering financing 30% of the sale price on a secure noted to a creditworthy buyer, depending on offer.
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Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.