Cheap-Burgers: 6-Day Op, Rev $282K, Net $74K, Rdcd to $69K, W. H/Wd

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Best Burgers in LA: 6-Day Run, Rev $23.5K/m, Net $6.2K/m, Reduced to $69K
Asking Price:
$69,000

Gross Revenue:
$282,000
Cash Flow:
$74,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$2,500
not included in asking price

FF&E:
 Not Disclosed
included in asking price

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Business Description

A monumental and historic hamburger diner on Santa Monica Blvd, being open since 1946 in West Hollywood. Located in a dynamic, vibrant area, where upscaling neighborhoods and exciting tourists stroll through busy streets all day.
More likely breakfast and lunch business. indeed open ‘til 7 pm. Six-day open. Closed on Sunday. The place is not noticeable but famous for its well-known quality and fresh, large handmade hamburgers.
Offering a variety of menu such as breakfast, burgers, hot & cold sandwiches, and tacos. The Hamburger does not disappoint and matches the decor and ambiance. This place is definitely a go to. It's cash only here. Below is a brief overview of how to operate and finance:
• Please be sure to understand that asking price is firm. Non-negotiable
• Gross sales: $23,500/mo
• Net income: $6,200 /mo more or less
• Cost of goods average 29%
• Current all-in rent is $3,950/mo, but to be increased when signiong a new lease.
• Size: 1400 sq. ft w/more than 24-seating capacity, including outdoor patio
• Lease: 5 yrs and 5+5 years option. Buyers must apply for a new lease.
• Employee: 2 part-times and single hard-working lady works all day, 6 days a week
• Established for 72 years and run for 19 years by the current owner
• Operating expenses are about $6,425/mo, including about $1,500 sales tax per month
• No credit cards accepted
• Parking is a little tough as it's all street parking
• The Best Burgers in Los Angeles, According to Top Chefs
Whether you’re dining in or driving thru, Southern California gets few things better than a meat sandwich on a bun. Here’s where to dig in. Written July 18, 2018
• Irv’s Burgers Review by Boolumburg
7998 Santa Monica Blvd., West Hollywood
Now relocated on a new stretch of Santa Monica Boulevard, this West Hollywood restaurant traces its history to a 1950s burger stand and comes with the mission of preserving a piece of classic post-World War II, Route 66 nostalgic history. Liam O’Keefe of London’s Bleecker Burger advocates for Irv’s old-school double cheeseburger, visibly handmade and served on paper plates decorated with doodles. “It is a really classic American burger, like nothing you would eat in England,” he says. “And the hospitality is outstanding.”
—Recommended by Liam O’Keefe, brand director of Bleecker Burger, London

About the Business

Year Established:
1946
Number of Employees:
1
Real Estate:
Leased
Building Sq. Ft.:
1,000
Lease Rate/Sq. Ft./Mo.:
$3,905.00
Facilities:
Price has ben reduced to a firm of $89,900, Clean and ambience dining room, Deco, Walk-in cooler and freezer in one, Ice Machine, Soda fountain, Grill, hoods, prep refrigerator, char-broiler, Frier
Website:
www.irvsburgers.com
Market Outlook/
Competition:
A variety of restaurants along the street
Growth & Expansion:
Open on Sunday. Extending hours for either breakfast and/or dinner
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About the Sale

Reason For Selling:
Retirement
Training/Support:
5 days before and 5 days after closing the escrow
Seller Financing:
None

Listing Info

ID:
1513727
Ad Detail Views:
792

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Business Listed by

Kevin Kim

Bee Realty Group
License# 01195918

 Show Phone Number

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