1205 Mehle Street, Arabi, LA 70032

Arabi
Local realty services provided by:Better Homes and Gardens Real Estate Rhodes Realty
1205 Mehle Street,Arabi, LA 70032
$4,190,000
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  • 120 Beds
  • 90 Baths
  • 57,600 sq. ft.
  • Multi-family
  • Active
Listed by: bryce a danna-marullo, bryce a danna-marullo
Office: bridgewater realty advisors
MLS#:2488793
Source:ROAM

Price summary

  • Price:$4,190,000
  • Price per sq. ft.:$72.74

About this home

NEW PRICE! 8.8% cap rate on actual NOI! 11.37% 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 90-95% 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 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...

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Home facts

  • Year built:1974
  • Listing ID #:2488793
  • Added:623 day(s) ago
  • Updated:November 11, 2026 at 04:11 AM

Rooms and interior

  • Bedrooms:120
  • Total bathrooms:90
  • Full bathrooms:60
  • Half bathrooms:30
  • Living area:57,600 sq. ft.

Heating and cooling

  • Cooling:Central Air
  • Heating:Central

Structure and exterior

  • Year built:1974
  • Building area:57,600 sq. ft.
  • Construction Materials:Brick Veneer, Frame
  • Foundation Description:Slab

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$4,190,000
  • Price per sq. ft.:$72.74

Parking

  • Parking description:Off Street, Parking Lot

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