621 Alvar Street, New Orleans, LA 70117

New Orleans
Local realty services provided by:ERA TOP AGENT REALTY
621 Alvar Street,New Orleans, LA 70117
$515,000
  • 8 Beds
  • 4 Baths
  • 3,095 sq. ft.
  • Multi-family
  • Active
Listed by: jacob freedman
Office: fqr realtors
MLS#:2515399
Source:LA_GSREIN

Price summary

  • Price:$515,000
  • Price per sq. ft.:$166.4

About this home

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.

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Home facts

  • Year built:1925
  • Listing ID #:2515399
  • Added:365 day(s) ago
  • Updated:July 31, 2026 at 03:32 PM

Rooms and interior

  • Bedrooms:8
  • Total bathrooms:4
  • Full bathrooms:4
  • Living area:3,095 sq. ft.

Heating and cooling

  • Cooling:Window Unit(s)
  • Heating:Gas, Heating

Structure and exterior

  • Roof:Shingle
  • Year built:1925
  • Building area:3,095 sq. ft.
  • Lot Features:City Lot, Rectangular Lot
  • Construction Materials:HardiPlank Type
  • Exterior Features:Balcony, Fence, Porch
  • Foundation Description:Slab
  • Levels:2 Story

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$515,000
  • Price per sq. ft.:$166.4

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