23 Alvar St New Orleans, LA 70126
Desire Area NeighborhoodEstimated payment $3,455/month
Highlights
- Shotgun Architecture
- Porch
- Property is in very good condition
- Balcony
- ENERGY STAR Qualified Water Heater
- Fenced
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.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 2024
Lot Details
- Lot Dimensions are 33' x 119'
- Fenced
- Property is in very good condition
Home Design
- Quadruplex
- Shotgun Architecture
- Slab Foundation
- Shingle Roof
- HardiePlank Type
Interior Spaces
- 3,095 Sq Ft Home
- Property has 1 Level
- Laundry in unit
Outdoor Features
- Balcony
- Porch
Location
- Outside City Limits
Utilities
- Window Unit Cooling System
- Heating System Uses Gas
- ENERGY STAR Qualified Water Heater
- Internet Available
Community Details
- 4 Units
Listing and Financial Details
- Assessor Parcel Number 621-ALVARST
Map
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/27/2025 10/27/25 | Price Changed | $550,000 | -4.3% | $178 / Sq Ft |
| 09/30/2025 09/30/25 | Price Changed | $575,000 | -4.0% | $186 / Sq Ft |
| 08/05/2025 08/05/25 | For Sale | $599,000 | -- | $194 / Sq Ft |
Source: Gulf South Real Estate Information Network
MLS Number: 2515399
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