UNIQUE REAL ESTATE INVESTMENT OPPORTUNITY: BUSY AND WELL-KNOWN COIN LAUNDRY WITH APARTMENT COMPLEX AND REAL PROPERTY INCLUDED — SITUATED ON MAJOR THOROUGHFARE IN LAKE COUNTY.

This attractive investment opportunity offers the sale of a well-established 24-hour coin laundry business in an approximately 1,150 sq. ft. freestanding building with a dedicated parking lot, along with a separate residential quadplex apartment building on the property that is fully occupied with leases in place.

COIN LAUNDRY:
The semi-absentee operated coin laundry business, established for 35+ years, is unmanned and averages $14,000–$16,000 in gross revenue per month. The equipment package includes some newer and all well-maintained equipment, consisting of 20 washers, 20 dryers, change machines, soap dispensers, etc. The business has lots of loyal and repeat customers, and the seller maintains a clean facility. The freestanding coin laundry building was built in 1980.

QUADPLEX:
The apartment income is currently $4,485 per month. There are 4 fully leased apartments—two 2-bedroom/2-bath units and two 2-bedroom/1-bath units. The apartment units were built in 1961.

Both buildings have been newly painted, and roofs were replaced 3 years ago.

NDA and Proof of Funds ($1M minimum) required prior to releasing confidential details on the opportunity. Note that traditional financing isn't likely, as the seller has only owned the property for 1 year. An assumable seller note of approximately $950,000 at 7% for 4 years with a balloon is in place and available to a well-qualified buyer.

Listing # 924-01579