5771-5829 TULLIS Drive, New Orleans, LA 70131
$1,540,000
Property Type:
MultiFamily
Square Footage:
20,880
Status:
Active
Current Price:
$1,540,000
List Date:
11/14/2025
Last Modified:
4/02/2026
Listing Details MLS# NO2531070
Listing Info
- Delayed Marketing
- No
- Listing Price
- 1540000
- List Price/SqFt
- 73.75
- Modification Timestamp
- 2026-04-02T03:32:02Z
- Photo Modified
- 2026-02-26T18:45:47Z
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
General Property Description
- Number of Units
- 16
- Stories
- 2
- SqFt - Total
- 20880
- SqFt - Source
- Appraiser
- Individual Metered?
- Yes
- Lot Dimensions
- 240x136
Currently Not Used
- Acreage Range
- 0 - 0.5
Originating Details
- Originating System ID
- ROAMM
- Originating System Key
- 53087147
- Originating System Listing ID
- 2531070
- Originating System Name
- ROAM Matrix
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 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.
More Information
Office/Member/Contract Info
- List AOR
- NOMAR
Siding
- Vinyl Siding
- Yes
- Wood
- Yes
Construction
- Brick
- Yes
Foundation
- Slab
- Yes
Roof
- Composition
- Yes
- Other
- Yes
Heating
- Central
- Yes
Cooling
- Central Air
- Yes
Tenant Pays
- Electric
- Yes
- Water
- Yes
Property Features
Siding:
Vinyl Siding; Wood
Construction:
Brick
Foundation:
Slab
Roof:
Composition; Other
Heating:
Central
Cooling:
Central Air
Tenant Pays:
Electric; Water
IDX
Listing Office:
Corporate Realty Leasing Company
Last Updated: April - 02 - 2026
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.