1415-17 ALVAR Street, New Orleans, LA 70117

Large 5040 sq ft building in a great location. The two upstairs units have gorgeous hardwood floors, fine craftsmanship, and have been exceptionally maintained. There's a development opportunity to renovate the downstairs into separate units, which already have plumbing, electric, and multiple points of entry. This will turn this two unit building into a 4 unit CASH COW. 3 year old roof, preferred flood zone X. HANO payment standards give up to $1419/m per 2-bedroom unit, or $1813/m per 3-bedroom unit, which may be possible downstairs. If converting to 4 units, one unit must remain available for someone earning 80% Area Median Income, whereas the other units don't have that requirement.