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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

<50%
Less than 50% of sellers in New Orleans reported that their sale price either exceeded or met their price expectations.

New Orleans stands out as a desirable suburb for sellers, consistently delivering great customer service and strong market results for homeowners.

This is based on voluntary sentiment collected from 5 reviews in New Orleans over the last 12 months.

Local market activity for 8 bedroom duplexes in New Orleans

In the last 12 months, 1 eight-bedroom duplex similar to 623 Alvar Street, have been sold.

This represents a 80% 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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