High-Volume LA Laundromat — Koreatown
Business Overview
Premier laundromat serving one of Los Angeles' most densely populated neighborhoods. Koreatown has one of the highest renter concentrations in the city, providing a massive and stable customer base. The business operates 24 hours and is managed almost entirely by staff — the current owner spends only 5 hours per week on oversight. All machines use card-only payment through an app, eliminating coin collection entirely. Strong wash-dry-fold revenue stream with established commercial accounts.
Key Metrics
Financial Details
- Gross Revenue (annual)
- $450,000
- Net Income (annual)
- $165,000
- Monthly Rent
- $6,800
- Utilities (estimated monthly)
- $1,850
- Water & Sewer (monthly)
- $1,800
- Electric (monthly)
- $1,500
- Gas (monthly)
- $800
- Payroll (monthly)
- $3,500
- Pickup/Delivery Revenue (monthly)
- N/A
- Machine Lease Payments (monthly)
- None — owned outright
Property Details
- Square Footage
- 3,400 sq ft
- Washers
- 28
- Dryers
- 20
- Machine Brands
- Electrolux, Speed Queen
- Machine Ages
- 3.2 years
- Payment System
- Card
- Machine Details
- 8x 20lb, 8x 40lb, 10x 60lb, 6x 80lb washers. 28 dryers (30lb and 45lb mix).
- Parking Spots
- 8
Lease Details
- Monthly Rent
- $6,800
- Lease Expiry
- Not specified
- Renewal Options
- One 5-year option remaining
- Rent Increases
- Not specified
- Years Remaining
- 4 years
Operations
- Owner Hours
- 5 hours/week (Absentee)
- Employees
- 3
- Hours of Operation
- 24 Hours
- Services Offered
- Wash & Dry Fold, Vending Machines, WiFi, Surveillance
Assets & Valuation
- FF&E Value
- $180,000
- Inventory Value
- $2,000
- Real Estate Included
- No
Seller Financing
- Seller Financing
- Available
- Details
- Seller will carry up to 20% at 7% interest over 5 years for qualified buyers.
Due Diligence
- Training & Transition
- 30 days of hands-on training including vendor introductions, employee management, and equipment maintenance.
- Books Verification
- Card system exports, 3 years of tax returns, and 24 months of bank statements available.
Market Analysis
Competition
Nearest competitor is 1.8 miles away. No new laundromats permitted by current zoning within 1 mile.
Growth Opportunities
Pickup and delivery service not yet offered. Card/app payment upgrade could increase revenue 10-15%. Space for 4 additional machines.
Location
- City / State
- Los Angeles, California
- Neighborhood
- Koreatown
- Nearby Anchors
- High density residential area, walking distance to subway station
Reason for Selling
Owner pursuing other business ventures. Willing to provide 60-day transition support.
Disclaimer: LaundroList does not verify financial information provided by sellers. Always conduct proper due diligence — including reviewing tax returns, utility bills, and lease documents — before completing any transaction.