Absentee Owned Laundromat in Excellent North Hollywood Location For Sale

Business description

Partnership dispute will force this business to be sold, one of the owner lives in New York. This Established, absentee owned, Laundromat is located in a very busy area of the San Fernando Valley. High volume of traffic at this great location. This coin laundry is located in, well placed, strip center on busy street. Long established and surrounded by apartment buildings. Lots of foot traffic. Loads of repeat customers. Easy to run. Requires very little time and effort to maintain.

Located next to thousands of apartments & senior complexes. This well established business is always busy & has very little competition.

Fluff and fold is working well and can be expanded but the profit goes to the employee, new owner can be replacement to keep the Fluff & Fold profit. Nice neighborhood to do business. Simple and easy to run.

This business can be converted to Full service Laundromat offering self & full service, and can greatly increase business by offering pick up & delivery service & by getting house commercial accounts as absentee owners do no advertising or promotion. It has great potential if the new owner is more involved in the day to day operation of the business.

20 Top Load Washers 2 years, 8 Triple Load Washers (6 at 7 years and 2 at 5 years), 2 Front Load Washers (5 years), 14 Double Stack Dryers (5 years), 2 Change Machines
28 dryers, 2/40lb washers, 3/35lb washers, 5/30lb washers, coin changer, newer water heater and pump, new Boiler and Water Regulator.
This business was established a very long time ago and still standing still because of the great location. Current owners bought this business over a year ago.
Be creative and offer programs like putting up your laundry before going to work services and we will move your clothes to the dryer and fold them so they will be ready to be picked up at the end of the day, will really tap into this largely untapped market.

Property information

Real Estate:

Lease

Size in square feet:

1,600

Other information

Support & training:

Owner will train at the close of escrow

Reasons for selling:

Partnership Split

Trading hours:

Sunday thru Saturday 6am to 10pm