427 Gravier StNew Orleans, LA 70130

This exceptional 6-unit hotel in New Orleans' Central Business District presents a compelling investment opportunity. Boasting a prime location steps from the French Quarter and Caesar's Hotel & Casino, this three-story, 6,781 square foot property underwent a complete renovation in 2019, resulting in six modern, two-bedroom, two-bathroom units, each featuring a contemporary kitchen and laundry facilities. The hotel benefits from a strong, stabilized investment profile, with a current NOI of $300,000 and an 8.96% cap rate. Financial performance has been robust, achieving a gross operating income of $505,000 in 2023 and $344,000 year-to-date in 2024, projecting to exceed last year's figures. Built in 1880 and situated on a 2,600 square foot lot, this property is zoned CBD-2, allowing for diverse future uses. The turnkey operation offers immediate income generation and significant upside potential in a thriving New Orleans market. Detailed financial statements are available upon request. This is a rare chance to acquire a high-performing hotel in a coveted location.