5771-5829 TULLIS Drive, New Orleans, LA 70131
$1,800,000
Property Type:
MultiFamily
Square Footage:
20,880
Status:
Active
Current Price:
$1,800,000
List Date:
11/14/2025
Last Modified:
12/29/2025
Description
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.
Supplements: ********
More Information MLS# NO2531070
Listing Info
Delayed Marketing: No
List Price/SqFt: 86.21
Status: Active
Listing Date: 2025-11-14
Listing Price: 1800000
Current Price: $1,800,000
Modification Timestamp: 2025-12-29T15:48:02Z
Photo Modified: 2025-12-29T15:48:02Z
General Property Description
Lot Dimensions: 240x136
Stories: 2
SqFt - Total: 20880
SqFt - Source: Appraiser
Individual Metered?: Yes
Number of Units: 16
Remarks & Misc
Remarks: 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.
Office/Member/Contract Info
List AOR: NOMAR
Currently Not Used
Acreage Range: 0 - 0.5
Siding
Vinyl Siding: 1
Wood: 1
Construction
Brick: 1
Foundation
Slab: 1
Roof
Composition: 1
Other: 1
Heating
Central: 1
Cooling
Central Air: 1
Unit 1
Type: Other
Beds: 3
Full Baths: 1
Partial Baths: 1
SqFt: 1305
Rent/Mo: 1200
Unit 2
Type: Other
Beds: 3
Full Baths: 1
Partial Baths: 1
SqFt: 1305
Rent/Mo: 0
Unit 3
Type: Other
Beds: 3
Full Baths: 1
Partial Baths: 1
Rent/Mo: 1312
SqFt: 1305
Unit 4
Type: Other
Beds: 3
Full Baths: 1
Partial Baths: 1
SqFt: 1305
Rent/Mo: 1500
Tenant Pays
Electric: 1
Water: 1
Originating Details
Originating System ID: ROAMM
Originating System Key: 53087147
Originating System Listing ID: 2531070
Originating System Name: ROAM Matrix
Location Tax Legal Info
Street Number: 5771-5829
Street Name: TULLIS Drive
Parish: Orleans
State: LA
Zip Code: 70131
Subdivision: Tall Timbers
Tax Assessment Number: 5771
Directions: General De Gaulle to Woodland Drive to Tullis Drive Bounding Streets: Woodland Drive
Property Features
Siding: Vinyl Siding; Wood
Construction: Brick
Foundation: Slab
Roof: Composition; Other
Heating: Central
Cooling: Central Air
Tenant Pays: Electric; Water
Listing Office:
Corporate Realty Leasing Company
IDX
Last Updated: December - 29 - 2025
The data relating to real estate for sale or lease on this website comes in part from the IDX program of the REALTOR® Association of Acadiana MLS. The IDX information is provided exclusively for consumers’ personal, non-commericial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS.