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$ 4,550,000
Est. payment /mo
Active
1205 MEHLE ST Arabi, LA 70032
57,600 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 57,600 sqft
Price per Sqft $78
MLS Listing ID 2507546
HOA Y/N No
Year Built 1980
Property Description
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 7.36% on actuals and an impressive 10.47% on year 2 pro forma numbers, The Arabi Townhomes presents a strong investment opportunity. Current gross rent is $53,600 per month.
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.
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.
Location
State LA
County St. Bernard
Zoning Comm
Interior
Fireplace No
Exterior
Parking Features Off Street, Parking Lot, Three or more Spaces
Water Access Desc Public
Building
Lot Description 1 to 5 Acres, City Lot
Dwelling Type Mixed Use
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
Others
Tax ID per assessor
Special Listing Condition None
Listed by Bridgewater Realty Advisors, LLC