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5823 - 5829 Tullis Drive, New Orleans, LA 70131

New Orleans
Local realty services provided by:CENTURY 21 Lakeshore
5823 - 5829 Tullis Drive,New Orleans, LA 70131
$385,000
  • 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:$385,000
  • Price per sq. ft.:$73.75

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 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:167 day(s) ago
  • Updated:May 01, 2026 at 03:13 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.
  • Lot Features:City Lot, Oversized Lot
  • Architectural Style:Traditional
  • Construction Materials:Brick, Vinyl Siding, Wood Siding
  • Foundation Description:Slab
  • Levels:2 Story

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$385,000
  • Price per sq. ft.:$73.75

Parking

  • Parking description:Driveway, Off Street, Three or more Spaces

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