Active

1205 Mehle Street

Arabi, LA 70032

$4,450,000 $18,761/Mo

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Overview

120

Bed

Bath

57,600

Sqft

Description

8.27% cap rate on actual NOI! 10.71% pro forma cap rate. The Arabi Townhomes is a well-maintained 60-unit apartment community located at 1205 Mehle St in Arabi, LA. Offering 60 spacious two-bedroom, 1.5-bathroom units, this property is 100% occupied, providing a solid, stable income stream. $54,525 per month gross income - far exceeds 1% rule. Recent market rent comparables indicate that with minor cosmetic updates, the units can command $1,100 per month, unlocking additional revenue potential. This property has been expertly managed and maintained, with a historically high occupancy rate, making it an excellent choice for investors seeking both reliable cash flow and value-add potential for even greater returns. Arabi, LA, is a charming and rapidly developing community located just minu tes from New Orleans, offering a unique blend of suburban tranquility and urban accessibility. With its proximity to major highways and the historic French Quarter, Arabi offers the perfect balance of suburban living with easy access to the bustling city, making it a highly desirable location for both tenants and investors alike.

Property Details

Property Type : Residential Income

Price : $4,450,000

AD Id : 62822248

MLS Id : 2488793

Beds : 120

Living Area Size : 57,600

Year Built : 1974

County : Saint Bernard

Map

What's Nearby

Nearby Areas

Features

Bedroom Information

Total Bedrooms: 120

Bathroom Information

Full Baths: 60 Half Baths: 30

Water/Sewer

Water Source: Public Sewer: Public Sewer
Room Information

Total Square Feet Living: 57600 Total Rooms: 0
Interior Features

Roof: Shingle Cooling Features: Central Air Heating Features: Central

Building Information

Year Built: 1974 Roof: Shingle

Lot Information

Lot Features: 1 to 5 Acres,City Lot
Property Information

SQ ft: 57,600 Source Listing Status: Active Property Subtype: Apartment Building Exterior Type: Brick Veneer,Frame Foundation Details: Slab Property Age: 52 Property Condition: Very Good Condition Levels or Stories: Two

Listing Price Information

Original List Price: $4,450,000

Tax Information

Parcel Number: per assessor

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ByOwner last updated this listing 06/11/2026 @ 21:13

MLS: 2488793 LISTED BY: Mason McCullough, Bridgewater Realty Advisors, LLC 504-901-0463 SOURCE: NOMAR