5771-5829 Tullis Drive, New Orleans, LA 70131

New Orleans
Local realty services provided by:Better Homes and Gardens Real Estate Rhodes Realty
5771-5829 Tullis Drive,New Orleans, LA 70131
$1,540,000
  • 48 Beds
  • 32 Baths
  • 20,880 sq. ft.
  • Multi-family
  • Active
Listed by: lawless turner
Office: corporate realty leasing company
MLS#:2531070
Source:LA_GSREIN

Price summary

  • Price:$1,540,000
  • Price per sq. ft.:$73.75

About this home

High-Performing Multifamily Investment Generating Immediate Cash Flow. This 16-unit multifamily portfolio delivers strong in-place cash flow at $182,580 annual gross rent, with significant rent growth potential to $316,800+ annual gross rent. The property already meets DSCR loan thresholds and offers a clear path to strong returns once stabilized. Each 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 11 units with term leases and 5 units vacant. All units include in-unit laundry hookups, private yards, and off-street parking for two vehicles. 32 off-street parking spots available. Located in Tall Timbers subdivision, this asset provides a family-friendly layouts great for long-term tenants. Each 4-plex can be sold separately at $450,000 for each property. With minimal deferred maintenance, and four separately deeded assets, investors gain both income stability and exit flexibility in one of New Orleans’...

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Home facts

  • Year built:1980
  • Listing ID #:2531070
  • Added:148 day(s) ago
  • Updated:April 12, 2026 at 03:14 PM

Rooms and interior

  • Bedrooms:48
  • Total bathrooms:32
  • Full bathrooms:16
  • Half bathrooms:16
  • Living area:20,880 sq. ft.

Heating and cooling

  • Cooling:Central Air
  • Heating:Central, Heating

Structure and exterior

  • Roof:Asphalt, Shingle
  • Year built:1980
  • Building area:20,880 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:$1,540,000
  • Price per sq. ft.:$73.75

Parking

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

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