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5823 - 5829 TULLIS DR, New Orleans, LA 70131
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5823 - 5829 TULLIS DR, New Orleans, LA 70131
5823 - 5829 TULLIS DR, New Orleans, LA 70131
5823 - 5829 TULLIS DR, New Orleans, LA 70131
5823 - 5829 TULLIS DR, New Orleans, LA 70131
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Jennifer Dixon

Jennifer Dixon

+1(504) 236-1066
$ 385,000
Est. payment /mo
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Price Dropped by $15K

5823 - 5829 TULLIS DR New Orleans, LA 70131

12 Beds

6 Baths

5,220 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 5,220 sqft

Price per Sqft $73

Subdivision Tall Timbers

MLS Listing ID 2531103

Style Traditional

Bedrooms 12

Full Baths 4

Half Baths 4

Construction Status Very Good Condition

HOA Y/N No

Year Built 1980

Property Sub-Type Quadruplex

Property Description

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.

Location

State LA

County Orleans

Interior

Heating Central

Cooling Central Air

Fireplace No

Laundry In Unit

Exterior

Parking Features Driveway, Off Street, Three or more Spaces

Water Access Desc Public

Roof Type Asphalt,Shingle

Building

Lot Description City Lot, Oversized Lot

Entry Level Two

Foundation Slab

Sewer Public Sewer

Water Public

Architectural Style Traditional

Level or Stories Two

Construction Status Very Good Condition

Others

Tax ID 5823

Special Listing Condition None

Gulf South Real Estate Information Network (NOMAR IDX Plus)
Listed by Corporate Realty Leasing Company
Jennifer Dixon

Jennifer Dixon

Rêve | Realtor | License ID: 995688069

+1(504) 236-1066

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5823 - 5829 TULLIS DR