1205 MEHLE Street, Arabi, Louisiana, 70032
$4,550,000
Condo/ Townhome/ Apartment
60 ba
120 bds
57,600 Sqft
Active
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 97% occupied, providing a solid, stable income stream. With a current cap rate of 7.14% on actuals and an impressive 9.45% on year 2 pro forma numbers, The Arabi Townhomes presents a strong investment opportunity. 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 minutes 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.
Water Source : Public
Sewer : Public Sewer
Parking Features: Off Street,Parking Lot,Three or more Spaces
Lot Features : 1 to 5 Acres,City Lot
Property Condition : Average Condition
0 Unit(s)
Heating : Yes.
Heating System : Central
Cooling: Central Air
Construction Materials: Brick Veneer,Frame
Foundation Details: Slab
Levels : Two
Roof Type: Shingle
Street Address: 1205 MEHLE Street
City: Arabi
State: Louisiana
Postal Code: 70032
County: St. Bernard
MLS Number: 2488793
Year Built: 1974
Courtesy of Bridgewater Realty Advisors, LLC
Courtesy of Bridgewater Realty Advisors, LLC
