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#4228
San Fernando Valley
Los Angeles - Hollywood - DTLA

Neighborhood Cocktail Bar with Restaurant& Type 47 - Est 1954

$125,000
Sold
Neighborhood Cocktail Bar with Restaurant& Type 47 - Est 1954
This Listing is Sold

THE REASON: After 60 years in business, which was started by the owner's parents, its time for them to step down and focus on other endeavors. The business has evolved over the years more into a Bar rather then a restaurant.  Now they serve a few simple item on a bar menu. 

THE BUSINESS: What makes this such an interesting venture is you have approximately 3,600 sq ft building with a Very LOW rent of $1,500 per month. This makes the place quite profitable with sales of $20,000 +/- per month giving this business a rent factor of just over 7%. There are 3 Pool Tables, 5 Dart Boards and a Juke Box helping keep the place hopping.

There is plenty of parking in the area. 

GROW IT:  This restaurant and bar is surrounded by businesses, making it perfect for the operator who knows how to capitalize on a strong lunch crowd potential.  

PROFITABLE BUSINESS: This businsess has certainly built some goodwill with annual sales in the $240,000 range and a low rent factor and a high percentage of liquor sales.  If you know this business, then you certainly know that with those sale, high liquor to food sales percentage and the low rent factor, the annual profits should be in the $60,000+ range. Of course, the buyer needs to verify the information given to broker by seller before deciding to buy this business. 

This location is in the city's redevelopment project area that is being reviewed.  If in fact the project gets approved, this will certainly be a boom for this business bring lots of people to the area.  New housing units are part of the plans as well increasing the number of residence in the area. A new Metro train station is also part of the plans being considered.  Of course, the buyer must do their own research on this project before buying the business as the broker is relying on information the seller provided. 

HOLE-IN-THE-WALL: Now this is not a place for everyone, but if you enjoy the bar business and have some ideas as to expanding and growing a long time established business and bringing New Life to this business then you will want to check this place out.

To get all the details, pictures and address go to SellingRestaurants dot com.

This is a a Paramount Restaurant Brokers, Inc. listing.
Restaurant Broker Stuart Schlosser DRE License #01809021

Lease

Region:
San Fernando Valley
Los Angeles - Hollywood - DTLA
Lease Term:
5 year + 5 yr option
Total Monthly Rent:
$1,500
Security Deposit:
$3,000

Operations

Liquor License:
47
# of Part-Time Employees:
2
# of Working Owners:
3
Hours Open:
8AM - 9PM 7 days
Year Established:
1954
Hood System Type 1:
Yes

Facilities

Indoor Seating:
50
# of Parking Spots:
lots
Inside Sq. Ft.:
3600

Highlights

  • Established 60 years
  • Type 47 Full Liquor License
  • LOW RENT!!
  • New Lease (Long Term Avaliable)
  • 3 Pool Tables, 5 Dart Boards FUN!!!
  • Add a little more variety on the food menu and advertise to local businesses to build lunch business and a dinner clientel

Financing

Down Payment:
$75,000
Will SBA Finance:
No
Will Seller Lend To Buyer:
No
This Listing is Sold

Demographics

Population 5-mi
2014 Total Population 42,286
Households 5-mi
2010 Number Of Households 14,038
2010 Persons Per Household 2.74
Median House Value $131,800
Income Per Household $35,892
Businesses 5-mi
2009 Number Of Businesses 1,254
2012 Number Of Employees 45,028
2012 Total Annual Payroll $844,551,000

click for more demographic info

Disclaimer

Notice: The User (that's you reading this) of this Website understands that Paramount Restaurant Brokers, Inc. ("Broker") or its agent(s) do not audit or verify any above information given to or gathered by Broker or its agent(s) from Seller, our Client, or make any warranties or representations as to its accuracy or completeness of the information provided, nor in any way guarantee future business performance. The User should perform a complete and detailed due diligence on the business and or real estate before buying it.  In some cases, foreward looking statements may have been made but these statements are absolutely no guarantees of future performance of the business as each User has differing skills sets to either grow the business or kill the business.  Owning a business is a risky venture, but can also be a rewarding one.  The User of this website is solely responsible to examine and investigate the Business and or real estate, its assets, liabilities, financial statements, tax returns, and any other facts which might influence the User's purchase decision or the price the User is willing to pay. Any decision by User to purchase the Business shall be based solely on User's own investigation and that of User's legal, tax, and other advisors and not that of Broker or its agent(s). Any listing information may change at any time without any notice to User.

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