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$ 4,450,000
Est. payment /mo
Active
1205 Mehle Street Arabi, LA 70032
57,600 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 57,600 sqft
Price per Sqft $77
MLS Listing ID NO2507546
Lot Size 1.638 Acres
Acres 1.638
Property Sub-Type Retail
Property Description
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.
Location
State LA
Zoning Comm
Exterior
Parking Features Parking Lot
Garage false
Building
Level or Stories 2
Others
Tax ID per assessor
Listed by Bridgewater Realty Advisors, LLC