Family restaurant in historic, desirable, downtown area East of downtown Los Angeles. Established in 1981, original owners. This building has been beautifully maintained and upgraded throughout. Offers approx. $100,000 in annual profit after paying $120,000 in annual rent. Good opportunity to increase revenue with permits to operate until 2 am with entertainment and dancing. Dining area seats 150 with full dance floor and dining rooms can be separated with sliding pocket doors. The dining room offers 15 ft. high ceilings with 4 large skylights, granite style table tops. There are 3 bars including: a wine and cheese bar, an espresso bar and the full bar. Beautiful hand painted walls. Upstairs features an office, storage and partial apartment. The building was retrofit in 1987 and the roof and air conditioning units were replaced in recent years. In 2012 the restrooms were upgraded to meet ADA regulations. Kitchen includes an custom masonry oven installed in 2012. In 2013/2014 new compressors for all refrigeration units were installed. In 2014, a 5 ton air conditioning unit was installed, new light fixtures added and hallways were remodeled. The wine bar was added in 2010 and includes White Carrere marble counter top with cherry wood bear stools. Extensive kitchen equipment. Restaurant and Building is 6896 sq. ft. Business was closed most holidays throughout the year. Seller owns both building and business. Solid bank appraisal completed. SBA pre-approved for over $1,500,000.
- OrganizationContact For Info
- Current Owner1985
- EmployeesContact For Info
- Reason For SaleOther Interests
- Square Feet6896
- ParkingStreet and rear
- LicensesContact For Info
- Open Hours6 days
- RentContact For Info
- ExpirationContact For Info
- Yearly IncreaseContact For Info
- OptionContact For Info
- DepositContact For Info
- Monthly Revenue$69,000
- Monthly Cash FlowContact For Info
- Annual Revenue$828,000.
- Annual Cash FlowContact For Info
- PayrollContact For Info
- Down Payment$Contact For Info
- Note Balance$Contact For Info
- Terms of NoteContact For Info
- All CashContact For Info
DISCLAIMER: The above financial information was supplied by the seller and has not been verified by broker. Broker makes no representation about the accuracy or completeness of the information and does not guarantee future performance. It is the responsibility of a prospective buyer to make their own inspection of all financial and other business records, and to seek independent financial and legal counsel regarding any purchase of this business and/or real estate.