1205 Mehle Street
Arabi, LA 70032
- 120 beds
- 75 baths
- 57,600 sqft
- $81 per sqft
- 1974 build
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.
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Last updated Feb 25, 2025
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MLS# 2488793 —
The Building
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Year Built:1974
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Construction Materials:Brick Veneer, Frame
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Architectural Style:Other
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Building Area Source:Measured
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Roof:Shingle
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Foundation:Slab
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Levels:Two
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Stories:2
Interior
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Living Area:57600
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Living Area Source:Measured
Location
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Cross Street:St. Claude & Mehle
The Property
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Parcel Number:per assessor
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Property Type:Residential Income
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Property Subtype:Apartment
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Property Subtype Additional:Apartment
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Property Condition:Average Condition
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Lot Features:City Lot
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Lot Size Dimensions:71350
Listing Agent
- Contact info:
- Agent phone:
- (504) 901-0463
- Office phone:
- (504) 901-0463
Beds
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Bedrooms Total:120
Baths
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Full Baths:60
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Half Baths:30
The Listing
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Current Price:$4,690,000
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Special Listing Conditions:None
Heating & Cooling
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Heating:Central
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Heating:Yes
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Cooling:Central Air
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Cooling:Yes
Utilities
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Sewer:Public Sewer
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Water Source:Public
Parking
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Parking Features:Off Street, Parking Lot
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
2/25/25
Feb 25, 2025
|
Listed / Active | GSREIN | $4,690,000 |
