Licensed Hotel with Efficiency
2624 Ursulines Avenue New Orleans, LA 70119
2624 Ursulines Avenue, New Orleans, LA, 70119
$625,000
For Sale
$625,000
Licensed, 100% occupied property features a main 11-room house and four efficiency apartments in a rear building.
Property Size4,874 SF
Price / SF$128.23
Days on Market476
Property Features for 2624 Ursulines Avenue
General Information
- Standard status
- Active
- Size
- 4,874 SF
- Property subtype
- MULTI FAMILY FOR SALE / Townhouse
Building Details
- Year Built
- 1920
Listing agency
Dempsey Rogers, Inc.
(504) 782-9188
Listed by
Stacey Rogers · License #000013109
(504) 782-9188
Source
Compass
Added: Apr 2, 2025 Updated: Jul 21 at 6:43PM Checked: Jul 21 at 6:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Dempsey Rogers, Inc.
Investment Insights
Based on property information with market context.
This licensed, 100% occupied hotel/rooming house includes a main house with 11 rooms, a large kitchen, a large common area, and three full baths. A rear building adds four efficiency apartments, providing an additional residential income component.
The property is located at 2624 Ursulines Avenue in New Orleans, Louisiana.
Reported total monthly income is $10,423, and the property was recently appraised for $800,000. The main house totals 3,707 square feet, while the rear building totals 1,167 square feet.
The property is located at 2624 Ursulines Avenue in New Orleans, Louisiana.
Reported total monthly income is $10,423, and the property was recently appraised for $800,000. The main house totals 3,707 square feet, while the rear building totals 1,167 square feet.
Key Highlights
- Licensed hotel/rooming house with 100% occupancy
- Main house: 3,707 SF, 11 rooms, large kitchen and large common area
- Rear building: 1,167 SF with 4 efficiency apartments
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $113.5k | $23.28 |
| − Vacancy | −$10.3k | −$2.12 |
| EGI | $103.1k | $21.16 |
| − OpEx | −$46.4k | −$9.52 |
| NOI | $56.7k | $11.64 |
4,874 SF · lease $23.28/SF/yr · vacancy 9.10% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$881.7K
$771.5K – $1.03M
NOI $61,717 @ 7.0% cap · market cap 9.87%
Second Best
Apartment 5plus
$810.4K
$709.1K – $945.5K
NOI $56,728 @ 7.0% cap · market cap 9.08%
Theoretical Best
Office A
$1.28M
$1.12M – $1.49M
NOI $89,276 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Hotels
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FAQs
What type of property is this?
Hotel - Licensed, 100% occupied property features a main 11-room house and four efficiency apartments in a rear building.
Where is this hotel located?
The property is located at 2624 Ursulines Avenue New Orleans, LA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Licensed hotel/rooming house with 100% occupancy; Main house: 3,707 SF, 11 rooms, large kitchen and large common area; Rear building: 1,167 SF with 4 efficiency apartments
