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623 Alvar Street

New Orleans LA 70117

8
4
3095 sq. ft.
0.09 ac.
Duplex
Currently for sale - view listing

Overview

Welcome to Bywater's Rainbow Fourplex. Your opportunity to invest in a prime location in New Orleans! This colorful and vibrant 4-plex is ideal for investors seeking to diversify their investment portfolio with a long-term real estate investment who appreciate the spirited bohemian neighborhood. Financials: Modest rent roll of $5125 monthly attracts solid long-term tenants who pay rent on time. Monthly operational costs average $800, including property management. Retention: Each of the four near-identical two-bedroom, two-bath units has a roommate-friendly layout and private outdoor space in the front and rear of each unit, making these units highly sought-after by tenants and keeps occupancy rates high. Investments: $80, 000 in recent capital improvements include hardy plank siding, electric tankless water heaters for each unit, exterior deck/balconies for each unit, massive repairs to the exterior, fresh exterior paint, washer, and dryer in every unit, and more! Giving you a hassle-free investment. Bonus: A rear shed could be converted to a fifth unit making the perfect tiny home for your visits or room for another tenant. The construction cost is $30, 000, with monthly rents projected at $1, 000. A professional property manager, contractor, and skilled tradespeople maintain this property to the highest standards. Investing in this property will provide a steady rental income and the opportunity to create a space for yourself to live in or visit the thriving community of Bywater. Don't miss out on this incredible opportunity to own a property in a desirable location?Flood Zone X.

Features

8 bedrooms
4 bathrooms
3095 sq. ft. floor area
0.09 ac. lot size
Duplex

Happy sellers in New Orleans

53%
53% of sellers in New Orleans reported that their sale price either exceeded or met their price expectations.

New Orleans stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 17 reviews in New Orleans over the last 12 months.

Local market activity for 8 bedroom duplexes in New Orleans

In the last 12 months, 2 eight-bedroom duplexes similar to 623 Alvar Street, have been sold.

This represents a 84% increase in eight-bedroom duplexes sales when compared to the previous 12 months.

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Sales:
(619) 566-0008
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