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
$4,450,000
  • 120 Beds
  • 90 Baths
  • 57,600 sq. ft.
  • Multi-family
  • Active
Listed by: mason mccullough, bryce danna-marullo
Office: bridgewater realty advisors, llc.
MLS#:2488793
Source:LA_GSREIN

Price summary

  • Price:$4,450,000
  • Price per sq. ft.:$77.26

About this home

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 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...

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Home facts

  • Year built:1974
  • Listing ID #:2488793
  • Added:423 day(s) ago
  • Updated:April 24, 2026 at 03:13 PM

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, Heating

Structure and exterior

  • Roof:Shingle
  • Year built:1974
  • Building area:57,600 sq. ft.
  • Lot Features:City Lot
  • Construction Materials:Brick Veneer, Frame
  • Foundation Description:Slab
  • Levels:2 Story

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$4,450,000
  • Price per sq. ft.:$77.26

Parking

  • Parking description:Off Street, Parking Lot, Three or more Spaces

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