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3724 W. Olympic Boulevard

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3724 W. Olympic Boulevard | Los Angeles, CA

$275,000

This is a beautifully renovated, turn key, Laundromat with brand new small, medium, and large load washers. Also equipped with a brand new Ray-Pak Boiler that was installed December of 2017. This location is equipped with high efficiency LED lighting hooked up to timers to cut down on utility bills, as well as new plumbing for the machines. No detail was left out while redesigning this picture perfect Laundromat; from custom built cabinets with textured Formica, to the matching, easy to clean floors, no expense was spared in the building of this location. Since completion of the renovation, the revenue has been growing exponentially and doesn’t seem to be stopping any time soon. Still lots of potential for growth through a well placed advertising campaign and through growing the full-service side of the Laundromat. This Laundromat has been established for over 40 years and has a customer base to reflect that. Located in between Mid Wilshire and Korea Town, this laundry sits in a densely populated area of multi-family homes and apartments on Olympic Blvd. Great Long term lease with the rent under $2 per square foot that is assignable to the new owner. Laundromat is capable of being fully run offsite through online access to machines and video surveillance. Machines can be started and put out of order from an app making management of the laundry simple and easy. Purchase Condition: Buyer must assume $135,000 equipment loan along with Purchase Price.
Listing Provided by Markus Shepherd, Markus Shepherd

Based on information from California Regional Multiple Listing Service, Inc. as of August 15, 2018. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.