Coin laundry in Hollywood - prime location with significant upside potential
Los Angeles, Los Angeles County, California
$395,000
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Description
Coin laundry in Hollywood near Little Armenia located in a busy strip-mall prime location attracting significant footfall. A 200+ unit residential community is nearing completion nearby that will enhance customer base.
Business was fully owner-attended until April 2021, when it was generating ~$290K in annual revenue with $100K+ in operating income. Since then, it has been under an absentee-ownership model with recent financials being:
2021: $248K Revenue; $78K Operating Income
2022: $245K Revenue; $55K Operating Income
2023: $248K Revenue; $57K Operating Income
2024 Forecast: $246K Revenue; $69K Operating Income
Due to the prime location and large customer base, this business can achieve its prior financial performance expecting at $350K+ revenue and $100K operating income with an involved owner willing to put the time and effort.
A new tankless water heater system was recently installed.
Business assets include 40+ washers and 15+ dryers; in addition to 1 soda vending, 1 soap vending, 1 new ATM machine, 2 large & 2 overflow coin changers, and 1 toy crane. Also 1 leased water vending and 1 coin pusher supplementing laundromat income.
Expand description
Financials
$246,000
$65,000
Equipment Assets
Number Of Washers
42
Number Of Dryers
17
Ancillary Equipment
Owned equipment: 1 soda vending, 1 soap vending, 1 new ATM machine, 2 large & 2 overflow coin changers, and 1 toy crane.
Leased equipment: 1 water vending and 1 coin pusher
Lease Details
Rent Amount
$5,197
Lease Expires At
2026
Lease Options Available
Two 5-year extension options available through 2036
Square Footage
2026
Location Description
Strip mall near Little Armenia in Hollywood, excellent location next to other retail
Business Operations
Hours Of Operation
6am-10pm
Number Of Employees
1
Full Service Offerings
Soap and soda vending; small retail store in shop; ATM terminal; Coin Games
Payment System
Coin operated laundromat
Security System
Alarm 24, Cameras
Listing Disclaimer: The information on this listing has been provided by either the seller or thier business broker. Niche Media owner of LaundromatForSale.com has not verified any of the information on this page and assumes no responsibility for its accuracy or completeness. Interested parties are encouraged to contact the seller and/or the seller’s broker directly to conduct their own independent verification of this information.
