621 ALVAR Street, New Orleans, LA 70117
$525,000
Property Type:
MultiFamily
Square Footage:
3,095
Status:
Active
Current Price:
$525,000
List Date:
8/05/2025
Last Modified:
1/08/2026
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.
Supplements: ********
More Information MLS# NO2515399
Listing Info
Delayed Marketing: No
List Price/SqFt: 169.63
Document Modified: 2025-08-21 17:02:46.485657
Status: Active
Listing Date: 2025-08-05
Listing Price: 525000
Current Price: $525,000
Modification Timestamp: 2026-01-08T21:25:35Z
Photo Modified: 2026-01-08T20:50:33Z
Location, Tax & Legal Info
Legal Desc: SQ 133 LOT J 33 X119 621-23 ALVAR ST
General Property Description
Lot Dimensions: 33' x 119'
Stories: 2
SqFt - Total: 3095
SqFt - Source: Appraiser
Individual Metered?: Yes
Number of Units: 4
Remarks & Misc
Remarks: 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.
Office/Member/Contract Info
List AOR: NOMAR
Currently Not Used
Acreage Range: 0 - 0.5
Parking
No Parking: 1
Foundation
Slab: 1
Exterior
Balcony: 1
Patio
Porch: 1
Roof
Composition: 1
Heating
Natural Gas: 1
Cooling
Window Units: 1
Fencing
Other: 1
Owner Pays
Water: 1
Tenant Pays
Electric: 1
Gas: 1
Originating Details
Originating System ID: ROAMM
Originating System Key: 52042861
Originating System Listing ID: 2515399
Originating System Name: ROAM Matrix
Location Tax Legal Info
Street Number: 621
Street Name: ALVAR Street
Parish: Orleans
State: LA
Zip Code: 70117
Tax Assessment Number: 621-ALVARST
Directions: Map apps work great Bounding Streets: Pauline, Chartres, Bartholomew, Royal
Property Features
Parking: No Parking
Foundation: Slab
Roof: Composition
Heating: Natural Gas
Cooling: Window Units
Exterior: Balcony
Fencing: Other
Owner Pays: Water
Tenant Pays: Electric; Gas
621-23 Alvar St. ~ Disclosures ›
Listing Office:
FQR Realtors
IDX
Last Updated: January - 08 - 2026
The data relating to real estate for sale or lease on this website comes in part from the IDX program of the REALTOR® Association of Acadiana MLS. The IDX information is provided exclusively for consumers’ personal, non-commericial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.