5771-5829 Tullis Drive, New Orleans, LA 70131
Local realty services provided by:Better Homes and Gardens Real Estate Rhodes Realty
5771-5829 Tullis Drive,New Orleans, LA 70131
$1,800,000
- 48 Beds
- 32 Baths
- 20,880 sq. ft.
- Multi-family
- Active
Listed by: lawless turner
Office: corporate realty leasing company
MLS#:2531070
Source:LA_CLBOR
Price summary
- Price:$1,800,000
- Price per sq. ft.:$86.21
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 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.
Contact an agent
Home facts
- Year built:1980
- Listing ID #:2531070
- Added:1 day(s) ago
- Updated:November 14, 2025 at 11:12 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.
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$1,800,000
- Price per sq. ft.:$86.21
New listings near 5771-5829 Tullis Drive
- Open Sun, 1 to 3pmNew
$749,000Active4 beds 4 baths2,276 sq. ft.4622 Annunciation Street, New Orleans, LA 70115
MLS# 2530746Listed by: COMPASS GARDEN DISTRICT (LATT18) - New
$550,000Active4 beds 2 baths2,376 sq. ft.2809 Banks Street, New Orleans, LA 70119
MLS# 2530870Listed by: SERVICE 1ST REAL ESTATE - New
$450,000Active12 beds 8 baths5,220 sq. ft.5793-99 Tullis Drive, New Orleans, LA 70131
MLS# 2531099Listed by: CORPORATE REALTY LEASING COMPANY - New
$650,000Active4 beds 2 baths2,672 sq. ft.1539 Dante Street, New Orleans, LA 70118
MLS# 2531102Listed by: RE/MAX N.O. PROPERTIES - New
$450,000Active12 beds 8 baths5,220 sq. ft.5823 - 5829 Tullis Drive, New Orleans, LA 70131
MLS# 2531103Listed by: CORPORATE REALTY LEASING COMPANY - New
$65,000Active2 beds 1 baths731 sq. ft.3013 Deers Street, New Orleans, LA 70122
MLS# 2530164Listed by: EPIQUE REALTY - New
$265,000Active3 beds 2 baths1,822 sq. ft.2005 Congress Street, New Orleans, LA 70117
MLS# 2531078Listed by: REESE & COMPANY REAL ESTATE, LLC - New
$450,000Active12 beds 8 baths5,220 sq. ft.5773 - 77 71 Tullis Drive, New Orleans, LA 70131
MLS# 2531087Listed by: CORPORATE REALTY LEASING COMPANY - New
$450,000Active4 beds 2 baths5,220 sq. ft.5779-85 Tullis Drive, New Orleans, LA 70131
MLS# 2531095Listed by: CORPORATE REALTY LEASING COMPANY - New
$200,000Active3 beds 2 baths1,015 sq. ft.6216 Cameron Boulevard, New Orleans, LA 70122
MLS# 2530306Listed by: BLUE HERON REALTY
Protect your home and budget with an American Home Shield© home warranty. Learn more© 2025 Better Homes and Gardens Real Estate LLC. An Anywhere Real Estate company. All rights reserved. Better Homes and Gardens® Real Estate is a registered trademark owned by Meredith Operations Corporation, licensed to Better Homes and Gardens Real Estate LLC and used with permission. Better Homes and Gardens Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Listing information is deemed reliable but is not guaranteed accurate.
Each office is independently owned and operated.
Any services or products provided by third parties are not provided by, affiliated with or related to Better Homes and Gardens Real Estate LLC, or its affiliated companies.