Downtown Los Angeles Bar & Lounge – Live Entertainment & Patio!

Downtown Los Angeles Bar & Lounge – Live Entertainment & Patio!

Los Angeles


Asking 
$150,000
Gross Revenue 
$360,000
Potential Cash Flow 
$41,321

This Downtown Los Angeles bar and lounge boasts a unique and elegant east coast vibe with a nice mix of California casual. The venue’s historic structural integrity has been maintained while the current owners completed a fully renovation and remodel 7 years ago. This well done two-story space features stylish dark wood, a rod iron stair railing, enchanting chandeliers, and a 14 keg walk in cooler based tap system. Along with its rare Type 48 Liquor License (no food required) and Live Entertainment Permit, it also has a recently renewed conditional use permit (CUP) that no longer possesses an expiration date. With these difficult to obtain entitlements, this location could provide an operator the flexibility to expand or convert to the concept of their choice.

Inventory 
5,000

Accounts Receivable Included in Asking
No

Facilities

This 1,578 square foot bar leases for $5,200 per month on a lease with 3 years remaining, and two 3 year options for renewal. All of the business's furniture, fixtures, equipment, Type 48 Liquor License and established goodwill will be included in the sale. Any alcohol inventory will be sold at cost at close in addition to the asking price.


Competition

The downtown Los Angeles market has several drinking options, however, many of its bars with Type 48 Liquor Licenses would be characterized as ‘dive bars’, whereas this venue is anything but. Its comfortable ambiance make it an inviting location whether to take in some live music, DJ or just enjoy a fine beer or cocktail. The recessed smoking patio also adds to its appeal for those who want to experience the ease of indoor/outdoor flow.


Growth & Expansion

Historically, this location has been a true neighborhood bar. A new owner could likely expand its draw by utilizing its unique entitlements to cater to a broader clientele.


Support & Training

Seller will train for 2 weeks at 20 hours per week or as negotiated


Reason for Selling

Personal


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