Renovated Four-Unit Apartment
431/433 GRAVIER Street, New Orleans, LA 70130
For Sale
$3,200,000
Elevator access serves the upper three floors, with a separate side and rear staircase entrance.
Property Size7,990 SF
Price / SF$400.50
Days on Market294
Property Features for 431/433 GRAVIER Street
General Information
Standard status
Size
Elevators
Property subtype
Zoning
Site & Location
Neighborhood
Road Access
Additional Details
Multifamily Units
Building Details
Building Size
Year Built
Listing Agency:
Century 21 Investment Realty
Listed By:
Jeff Breland · License LA #000053741
(504) 415-2652
Source:
Joliburrell
Added: Jan 21
Changed: Nov 8
Last Checked: Nov 9 at 11:05AM
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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Investment Insights
Based on property information with market context.
This renovated four-unit apartment building has open floor plans, large bedrooms, generous closets, and upgraded interior finishes. An elevator serves the second, third, and fourth floors, and a separate entrance is available by way of side and rear stairs. The building contains 7,990 square feet and dates to 1880.
Located on Gravier Street in New Orleans’ Central Business District, the property is one block from Canal Street, the French Quarter, and Harrah’s Casino, and two blocks from Poydras Street and the Warehouse District. The zoning designation is CBD-2.
Located on Gravier Street in New Orleans’ Central Business District, the property is one block from Canal Street, the French Quarter, and Harrah’s Casino, and two blocks from Poydras Street and the Warehouse District. The zoning designation is CBD-2.
Key Highlights
- Four apartment units in a renovated building
- 7,990 square feet; built in 1880
- Elevator access to the second, third, and fourth 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
Lease Details
4
Residential units
Yes
Paved road access
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
$529,300
Median Home Value
Market
Average Price Trend$/SF for Quadplexes in New Orleans, LA
Properties on Market for Quadplexes in New Orleans
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Elevator access serves the upper three floors, with a separate side and rear staircase entrance.
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 apartment units in a renovated building; 7,990 square feet; built in 1880; Elevator access to the second, third, and fourth floors
