REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your advisor will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 3,350,000
Est. payment /mo
Active
427 GRAVIER ST New Orleans, LA 70130
6,428 SqFt
UPDATED:
02/03/2025 06:16 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 6,428 sqft
Price per Sqft $521
MLS Listing ID 2461696
HOA Y/N No
Year Built 1880
Lot Size 2,600 Sqft
Acres 0.0597
Property Description
427 Gravier presents an excellent investment opportunity. This permitted hotel property features six 2-bedroom, 2-bath units, each equipped with modern kitchens and laundry facilities. Renovated in 2019 with high-end finishes, this turnkey operation is situated in a prime location—just steps away from the French Quarter, Caesar's Hotel & Casino, and all the attractions of downtown and the Central Business District.
Currently, the property enjoys a steady growth trajectory, especially in the post-COVID market, with an impressive gross operating income of $505k in 2023 and $344k YTD for 2024 with projections to surpass last year's numbers. The property is zoned CBD-2, offering potential for a range of uses and future growth.
Additional financial information available upon request.
Currently, the property enjoys a steady growth trajectory, especially in the post-COVID market, with an impressive gross operating income of $505k in 2023 and $344k YTD for 2024 with projections to surpass last year's numbers. The property is zoned CBD-2, offering potential for a range of uses and future growth.
Additional financial information available upon request.
Location
State LA
County Orleans
Zoning CBD-2
Interior
Fireplace No
Exterior
Parking Features None
Water Access Desc Public
Accessibility Accessibility Features
Building
Lot Description City Lot, Rectangular Lot
Dwelling Type Hotel/Motel
Entry Level Three Or More
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Others
Tax ID 105100715
Security Features Fire Sprinkler System
Special Listing Condition None
Listed by REVE, REALTORS