5823 - 5829 Tullis Drive, New Orleans, LA 70131

Local realty services provided by:Better Homes and Gardens Real Estate Lindsey Realty
5823 - 5829 Tullis Drive,New Orleans, LA 70131
$450,000
  • 12 Beds
  • 8 Baths
  • 5,220 sq. ft.
  • Multi-family
  • Active
Listed by: lawless turner
Office: corporate realty leasing company
MLS#:2531103
Source:LA_GSREIN

Price summary

  • Price:$450,000
  • Price per sq. ft.:$86.21

About this home

This 4-unit multifamily property delivers strong in-place cash flow at $47,220 annual gross rent, with significant rent growth potential to $79,200+ annual gross rent. The property already meets DSCR loan thresholds and offers a clear path to strong returns once stabilized. This 4-plex totals 5,220 of livable sq ft, consisting of four 3BR / 1.5BA units averaging 1,305 SF for each unit. Currently, there are 3 units with term leases and 1 unit vacant. All units include in-unit laundry hookups, private yards, and off-street parking for two vehicles. 8 off-street parking spots available. Located in Tall Timbers subdivision, this asset provides a family-friendly layouts great for long-term tenants. With seller financing options available, minimal deferred maintenance, and four separately deeded assets, investors gain both income stability and exit flexibility in one of New Orleans’ most resilient rental markets.

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Home facts

  • Year built:1980
  • Listing ID #:2531103
  • Added:103 day(s) ago
  • Updated:February 26, 2026 at 04:09 PM

Rooms and interior

  • Bedrooms:12
  • Total bathrooms:8
  • Full bathrooms:4
  • Half bathrooms:4
  • Living area:5,220 sq. ft.

Heating and cooling

  • Cooling:Central Air
  • Heating:Central, Heating

Structure and exterior

  • Roof:Asphalt, Shingle
  • Year built:1980
  • Building area:5,220 sq. ft.

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$450,000
  • Price per sq. ft.:$86.21

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