427 GRAVIER Street, New Orleans LA, 70130

Active

427 GRAVIER Street

New Orleans LA, 70130

$3,350,000

$521.16 per sqft

Active

6,428 sqft

Commercial

Built in 1880

Courtesy of Logan Macrae with REVE, REALTORS

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.

2461696

MLSⓇ ID

August 5, 2024

Listed

November 22, 2024

Updated

Map

427 GRAVIER Street
New Orleans LA, 70130

Interior Features

Total Stories: 3
Fireplace: No
Cooling: No
Heating: No

Exterior/Building Features

Lot Size: 0.06 Acres
Lot Features: City Lot, Rectangular Lot
Sewer: Public Sewer

Other Property Details

Days on Market: 92
Garage: No
Parking: None
View: No
County: Orleans
Water Source: Public
Pool: No
Zoning: CBD-2

Listing History

Date	Event	Price
11/5/2024	Price change	$3,350,000 -5%

Listing Contact: (504) 444-9445

Based on information from the Gulf South Real Estate Information Network as of 11/22/2024. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.