About 5771-5829 Tullis Drive
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.
Features of 5771-5829 Tullis Drive
| MLS® # | 2531070 |
|---|---|
| Price | $1,800,000 |
| Bedrooms | 48 |
| Bathrooms | 32.00 |
| Full Baths | 16 |
| Half Baths | 16 |
| Square Footage | 20,880 |
| Acres | 0.00 |
| Year Built | 1980 |
| Type | Multi-Family |
| Sub-Type | Traditional, Mixed Use |
| Status | Active |
Community Information
| Address | 5771-5829 Tullis Drive |
|---|---|
| Subdivision | Tall Timbers |
| City | New Orleans |
| County | Orleans |
| State | Louisiana |
| Zip Code | 70131 |
Amenities
| Parking | Driveway, Off Street, Three or more Spaces |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
| Pool | None |
Interior
| Heating | Central |
|---|---|
| Cooling | CentralAir |
| Fireplace | No |
| Has Basement | No |
Exterior
| Exterior | Brick, Vinyl Siding, Wood Siding |
|---|---|
| Lot Description | City Lot, Oversized Lot |
| Roof | Asphalt, Shingle |
| Construction | Brick, Vinyl Siding, Wood Siding |
| Foundation | Slab |
Additional Information
| Days on Market | 5 |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
| HOA Fees | 0.00 |
| Listing Provided By | Corporate Realty Leasing Company |