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 of suburban living with easy access to the bustling city, making it a highly desirable location for both tenants and investors alike.
Listed By
Agency Name: Bridgewater Realty Advisors, LLC
Agency Phone: (504) 901-0463
Shown By
Agent Name: Suzette Hubbell
Agent Phone:
Agency Title: Suzette Hubbell
Suzette Hubbell Suzette Hubbell
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1205 Mehle Street | MLS# 2488793
This multi-family property located at 1205 Mehle Street, Arabi, LA 70032 is currently listed for sale with an asking price of $4,450,000. Search Arabi real estate on suzettehubbell.suzettehubbell.com today.