Los Feliz Lock & Key For Sale

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LOZ FELIZ LOCK AND KEY FOR SALE
EXCELLENT OPPORTUNITY FOR LOCKSMITH

Los Feliz Lock & Key (the “Business”), located at 4647 Russell Avenue in the Los Feliz area of Los Angeles, is for sale after 40 plus years of being in business. The Business has been located in the same building for all that time and has built a stellar reputation in the local area. Los Feliz Lock & Key, Inc., a California corporation) the “Owner”), is asking $175,000 to buy the assets of the Business which includes over $100,000 of inventory, equipment and leasehold improvements.

Excellent Business Opportunity :

The Business is the only locksmith currently based in the area. It has a number of established commercial accounts and many residential customers. There is significant room for expanding the business as it does not currently offer automotive key services or make transponder keys. The principal, Rudy Kessman, is retiring and wants to find a buyer to continue serving the community.

Great Location:

The Business is located next door to Fred 62, and extremely popular restaurant that is open 24 hours a day on the northeast corner of Vermont and Russell Avenues, directly across from the U.S. Post office. While the location does not front on Vermont Avenue, it has been in the same building for the 40 plus years it has been open and is well known to businesses and residents in the area.

Attractive Terms:

The Owner is asking $175,000 plus any applicable sales taxes and is willing to consider carrying a note for part of the price from a well qualified buyer. The price includes (i) a significant amount of inventory, including older items required for homes in the area. (ii) the fixtures, (iii) recent tenant improvements, (iv) equipment (but not the truck) and (v) the goodwill of the Business.

Flexible Lease Arrangement:

The principal of the Owner is also an owner of the building in which the Business is located and he is willing to arrange for a standard commercial lease for the buyer. The space is approximately 725 square feet and the stating rent will be $1,850 per month. The lease term can be 5 years with one option for another 5 years at a new fixed rent, 3 years with two options for another 3 years at new fixed rents or some other option. The lease will include 2 parking spaces.

Other Terms:

Rudy Kessman is willing to provide a letter to current customers and work with the buyer for up to 1 month (8 hours per day, 4 days per week without charge) to ensure a smooth transition. He will provide a covenant not to compete.

CALL RUDY KESSMAN (213-999-7792) or BRUCE DRUCKER (626-524-3399)

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Created 07/28/2010