Active

621 Alvar Street

New Orleans, LA 70117

$515,000 $2,171/Mo

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Overview

Bed

Bath

3,095

Sqft

Description

The Rainbow Fourplex in the Bywater ~ Fully Occupied Income Producing Property in Prime Location! All units occupied with paying tenants who would like to stay. Separate electric and gas meters ~ owner pays water. Many key upgrades have been made including a brand new fortified roof (c. February 2024), four tankless hot water heaters, and hardy plank siding. The gutted rear shed could potentially be converted to a 5th rental unit, renting at an estimated $1,000/month. Large fenced-in backyard. This iconic property represents solid cash flow in an established location with the potential to add value to an already solid foundation. Coveted flood zone X. Property requires some notice to show.

Property Details

Property Type : Residential Income

Price : $515,000

AD Id : 66335757

MLS Id : 2515399

Beds : 8

Living Area Size : 3,095

Year Built : 1925

County : Orleans

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total Bedrooms: 8

Bathroom Information

Full Baths: 4 Half Baths: 0

Water/Sewer

Water Source: Public Sewer: Public Sewer
Room Information

Total Square Feet Living: 3095 Total Rooms: 0
Interior Features

Roof: Shingle Exterior Property Features: Balcony,Fence,Porch Cooling Features: Window Unit(s) Heating Features: Gas Laundry Features: In Unit

Building Information

Year Built: 1925 Roof: Shingle
Exterior Features

Balcony,Fence,Porch

Lot Information

Lot Features: City Lot,Rectangular Lot
Property Information

SQ ft: 3,095 Source Listing Status: Active Directions: Map apps work great Property Subtype: Quadruplex Building Exterior Type: HardiPlank Type Foundation Details: Slab Property Age: 101 Property Condition: Very Good Condition Levels or Stories: Two

Listing Price Information

Original List Price: $515,000

Tax Information

Parcel Number: 621-ALVARST

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
2330 32 N Claiborne Ave.., New Orleans, LA, 70117	$260,000	5	2	1,764	1,764 SqFt
2765 N Rocheblave Street, New Orleans, LA, 70117	$264,500	6	2	2,548	2,548 SqFt
1216 18 Gordon Street, New Orleans, LA, 70117	$359,000	8	4	3,466	3,466 SqFt
1421 Tricou Street, New Orleans, LA, 70117	$100,000	6	4	2,640	2,640 SqFt
1841 43 Gordon Street, New Orleans, LA, 70117	$230,000	4	2	1,500	1,500 SqFt
2271-2273 N. Claiborne .., New Orleans, LA, 70117	$149,900	4	2	1,325	1,325 SqFt
822 Delery Street, New Orleans, LA, 70117	$299,900	9	4	2,870	2,870 SqFt
1337 Tupelo Street, New Orleans, LA, 70117	$369,000	6	6	2,462	2,462 SqFt
2458-2460 N Miro Street, New Orleans, LA, 70117	$240,000	6	2	2,072	2,072 SqFt
1025 27 Lamanche Street, New Orleans, LA, 70117	$75,000	4	2	1,560	1,560 SqFt

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ByOwner last updated this listing 06/18/2026 @ 17:19

MLS: 2515399 LISTED BY: Jacob Freedman, FQR Realtors 504-949-5400 SOURCE: NOMAR