1021 Kerlerec St New Orleans, LA 70116-1905

This exceptional investment opportunity presents a thriving, established hostel in the heart of New Orleans, Louisiana. The property, located at 1021 Kerlerec St, New Orleans, LA 70116, boasts 14 beds across 8 keys within a three-story building totaling 5,906 square feet on a 4,000 square foot lot (APN: 37W101707). The hostel, operating under a B&B license (HMR-1 zoning), benefits from significantly reduced tax burdens compared to hotels and short-term rentals. Renovated in 2014, this turnkey operation includes all furniture, fixtures, and equipment (FF&E), along with established online travel agency (OTA) and review site accounts. Financial information, including a Net Operating Income (NOI) of $216,000 and a current asking price of $1,640,000 ($277.68/sq ft), is available upon request after signing a non-disclosure agreement. The hostel enjoys high occupancy rates due to its strong reputation and loyal clientele, evidenced by positive online reviews. This presents a unique opportunity to acquire a profitable, established business with a proven track record of success, achieving its most profitable year in 2023. The sale includes the real estate and the ongoing business. This is a ground lease-free property.