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621 23 Alvar Street, 
New Orleans, LA 70117

$599,000


8

Beds


4

Baths


3,095

Sq Ft


Multi-Family

Active

Listed by

Jacob Freedman

Fqr Realtors

504-949-5400

Last updated:

August 5, 2025, 11:46 PM

MLS#

2515399

Source:

LA GSREIN

About This Home

621 23 Alvar Street

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.

Home Facts

Multi-Family

4 Baths

8 Bedrooms

Built in 1925

Price Summary

599,000

$193 per Sq. Ft.

MLS #:

2515399

Last Updated:

August 5, 2025, 11:46 PM

Added:

3 day(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

8

Bathrooms

Total Bathrooms:

4

Full Bathrooms:

4

Interior

Living Area:

3,095 Sq. Ft.


Structure

Structure

Building Area:

3,095 Sq. Ft.

Year Built:

1925


Finances & Disclosures

Finances

Price:

$599,000

Price per Sq. Ft:

$193 per Sq. Ft.

Source:LA GSREIN
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By clicking Contact I agree a Coldwell Banker Agent may contact me by phone or text message including by automated means and prerecorded messages about real estate services, and that I can access real estate services without providing my phone number. I acknowledge that I have read and agree to the Terms of Use and Privacy Notice.