Renovated Multifamily Property in
For Sale
$3,200,000
431 /433 Gravier St, New Orleans, LA 70130
Luxuriously renovated four-unit property in a prime CBD location.
Property Size7,990 SF
Price / SF$400.50
Days on Market194
Property Features for 431 /433 Gravier St
General Information
Standard status
Active
Size
7,990 SF
Property subtype
Multi-Family
Building Details
Year Built
1880
Listing Agency:
Century 21 Investment Realty
Listed By:
Jeff Breland · License #000053741
(985) 643-4200
Source:
Dominionplace
Added: Mar 27
Changed: Sep 11
Last Checked: Oct 4 at 11:41AM
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 Century 21 Investment Realty
Investment Insights
Based on property information with market context.
Located at the foot of the river in the Central Business District, this renovated four-unit multifamily property sits between Magazine and Tchoupitoulas on Gravier Street. It is one block from Canal Street, the French Quarter, and Harrah's Casino, and two blocks from Poydras and the Warehouse District. The property features upscale, luxurious finishes in all units, making it suitable for investors, owner-occupants, corporate housing, a satellite hotel, or condo conversion. The units have open-concept floor plans with high-end finishes, large bedrooms, lavish bathrooms, and large closets. An elevator provides access to the 2nd, 3rd, and 4th floors, and a side/rear staircase entrance is also available. The units rent for $3,700 per month unfurnished or $4,000 per month furnished. The property is zoned CBD-2 and has a size of 7990 square feet.
Key Highlights
- Phenomenal CBD location: walk to Canal St., French Quarter, Harrah's Casino, Poydras, and Warehouse District.
- Beautifully renovated 4 units with upscale luxurious finishes.
- Great investment opportunity: potential for investors, owner/occupants, corporate housing, satellite hotel, or condo conversion.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$101,173
Cap Rate
3.16%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,023,460
$2.0M
Cap Rate 7%
$1,445,329
$1.4M
Cap Rate 9%
$1,124,144
$1.1M
Market Conditions
NOI Build-Up for 7,990 SF
Gross rent
$158.2K $19.80/SF
− Vacancy
−$13.7K −$1.71/SF
EGI
$144.5K $18.09/SF
− OpEx
−$43.4K −$5.43/SF
NOI
$101.2K $12.66/SF
Area
New Orleans, LA
Vacancy
8.64%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,023,460
Cap Rate 7%
$1,445,329
Cap Rate 9%
$1,124,144
Alternative Uses
Best Use
Multifamily LT 5
$1.45M
$1.26M – $1.69M
NOI $101,173 @ 7.0% cap · market cap 3.16%
Second Best
Apartment 5plus
$1.33M
$1.16M – $1.55M
NOI $92,994 @ 7.0% cap · market cap 2.91%
Theoretical Best
Office A
$2.03M
$1.78M – $2.37M
NOI $142,156 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
10,455
Businesses Nearby
Explore this area
Business Placement
Demographics for 70130, LA
14,521
Population
10,927
Households
1.3
Avg Household Size
38
Median Age
64%
College-Educated
92%
High-School Grad
2.1 sq mi
ZIP Area
6,915
Density / Sq Mi
$82,758
Median Household Income
$52,492
Median Earnings
$1,410
Median Rent
$529,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Luxuriously renovated four-unit property in a prime CBD location.
Where is this quadplex located?
The property is located at 431 /433 Gravier St New Orleans, LA.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Phenomenal CBD location: walk to Canal St., French Quarter, Harrah's Casino, Poydras, and Warehouse District.; Beautifully renovated 4 units with upscale luxurious finishes.; Great investment opportunity: potential for investors, owner/occupants, corporate housing, satellite hotel, or condo conversion.
