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LA > New Orleans
New Orleans, LA 70130,427 GRAVIER ST
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New Orleans, LA 70130,427 GRAVIER ST
New Orleans, LA 70130,427 GRAVIER ST
New Orleans, LA 70130,427 GRAVIER ST
New Orleans, LA 70130,427 GRAVIER ST
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Rêve Team

Rêve Team

+1(504) 300-0700
Rêve Team

Rêve Team

+1(504) 300-0700
$ 3,350,000
Est. payment /mo
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Listed By Rêve
Price Dropped by $150K

427 GRAVIER ST New Orleans, LA 70130

6,428 SqFt

UPDATED:

11/05/2024 04:48 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.

Location

State LA

County Orleans

Zoning CBD-2

Interior

Fireplace No

Exterior

Garage None

Water Access Desc Public

Accessibility Accessibility Features

Parking Type None

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

Gulf South Real Estate Information Network (NOMAR IDX Plus)
Listed by REVE, REALTORS

Rêve Team

Broker

+1(504) 300-0700

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427 GRAVIER ST

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