Renovated Four-Unit
For Sale
$3,200,000
431-433 Gravier Street, New Orleans, LA 70130
Renovated four-unit property with open layouts, upscale finishes, elevator access, and CBD-2 zoning.
Property Size7,990 SF
Price / SF$400.50
Days on Market343
Property Features for 431-433 Gravier Street
General Information
Standard status
Active
Size
7,990 SF
Elevators
Yes
Property subtype
MULTI FAMILY FOR SALE / Townhouse
Zoning
cbd-2
Additional Details
Multifamily Units
4
Amenities
Central Air
Central
1
8
10
Elevator
Metal
4
Slab: Traditional
Brick
Building Details
Year Built
1880
Listing Agency:
Century 21 Investment Realty
Listed By:
Jeff Breland · License #000053741
(504) 415-2652
Source:
Compass
Added: Nov 7, 2025
Changed: Oct 13
Last Checked: Oct 15 at 2:03AM
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 7,990-square-foot quadplex contains four renovated units with open-concept layouts and upgraded interior finishes. The residences feature spacious bedrooms, generously sized bathrooms, and large closets, with an elevator serving the second, third, and fourth floors. A secondary entrance is provided by side and rear stairs. Built in 1880, the property combines historic construction with updated residential interiors.
The building is located at 431-433 Gravier Street in New Orleans’ Central Business District, between Magazine Street and Tchoupitoulas Street. Canal Street, the French Quarter, and Harrah’s Casino are one block away, while Poydras Street and the Warehouse District are two blocks from the property. Zoning is CBD-2.
The building is located at 431-433 Gravier Street in New Orleans’ Central Business District, between Magazine Street and Tchoupitoulas Street. Canal Street, the French Quarter, and Harrah’s Casino are one block away, while Poydras Street and the Warehouse District are two blocks from the property. Zoning is CBD-2.
Key Highlights
- Four‑unit quadplex with 7,990 SF of building area
- Renovated interiors with upscale finishes throughout
- Elevator serves the 2nd, 3rd, and 4th floors
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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Residential units
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
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Renovated four-unit property with open layouts, upscale finishes, elevator access, and CBD-2 zoning.
Where is this quadplex located?
The property is located at 431-433 Gravier Street 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: Four‑unit quadplex with 7,990 SF of building area; Renovated interiors with upscale finishes throughout; Elevator serves the 2nd, 3rd, and 4th floors
