Business Description

This Laundromat is for sale with the real estate (RE must be purchased with business as a total package) The seller will conduct the transfer of the real estate. The sale price that you see is only for the business. The real estate is priced separately, approx. $800,000. There are 8 apartment units, mostly (two bedroom). 6 of the units are attached to the Laundromat in a very well kept 2 story building. Then there is an adjacent property that has been converted into a 2 unit duplex. WOW, What a gold mine!!!! The sale price that you see is just the value of the business. However, a 40 page commercial appraisal was completed by a state licensed mulit-unit commercial apparaiser. The value of the real estate came in at $860,000 as a result of a 36 page commercial appraisal. The units are generating approx. $80,000 in net income minus $12,000 in taxes. Just think about it, the Laundromat can be operated by the new owner or leased out. One of the apartment tenants opens and closes the Laundromat each day and cleans it on other days. The owners only have to come by and collect the coins and restock the change machine. The Laundromat has just been completely upgraded with all new equipment, which is valued at the asking price. Once again, WOW what cash flow (net income to owner) approx. $60,000 from the Laundromat and another approx. $68,000 from the apartment units. Just think, beyond the net cash flow, your investement is also appreciating, how could you go wrong. This is where smart money goes. The new owner will own the brand new equipment free and clear with the purchase. This Laundromat has been in business for over 30 years in this community. There are 3 major apartment housing projects that are within 1 mile radius. The only next laundromat competitor is 5 miles away. There are 21 Washers and 21 dryers. The present owners are 5 siblings that acquired the business and property from their recently deceased parents. They need to liquidate to divide up the assets. This business has been succeeding tremendously with no advertising and no drop off and fold business. Wow, what an opportunity to expand sales easily.