1205 Mehle St Arabi, LA 70032
Property details
About 1205 Mehle St
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.
Highlights
Summary
- MLS Number: 2488793
- MLS Name: NOMAR
- Office Name: Bridgewater Realty Advisors, LLC
- Office Phone: (504) 901-0463
- Office Email: mason@bridgewater.realty
- Listing Agent: Mason McCullough
- Agent Phone: (504) 298-8631
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Last updated on: 3/13/2025, 12:55:49 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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$4,690,000
1205 Mehle St
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Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $59,000 | $9,032 |
| 2020 | $59,000 | $8,324 |
| 2019 | $59,000 | $8,127 |
| 2018 | $59,000 | $8,439 |
| 2017 | $59,000 | $8,439 |
History based on county public records data.
Nearby schools
8
Arabi Elementary School
Public District PK-5
0.3 mi
•7200 Alexander Ave
5
Chalmette Elementary School
Public District PK-5
1.8 mi
•75 E Chalmette Cir
6
Arlene Meraux Elementary School
Public District PK-5
2.8 mi
•4004 Paris Rd
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $51,293. Residents of Arabi, LA typically earn less than $<35k each year. Residents typically live in single, no kids family. Typical level of education for residents in this area is high school diploma.
How much money do the neighbors make?
What level of education do the neighbors have?
What types of families live nearby?
Are the neighbors home owners or renters?
How old are people in this area?
What do the neighbors do for fun?
Mexican League Soccer
Continuing Education Courses
Pro Wrestling
Where do the neighbors shop?
Books-a-Million
Express/Express For Men
Burlington
Where do the neighbors go to eat?
Church's Chicken
Qdoba
Cicis Pizza
What do the neighbors drive?
Toyota
Volkswagen
Pontiac
What do the neighbors listen to?
Adult Hits
Urban Contemporary- Rhythmic Contemporary Hits
Frequently asked questions
About 1205 Mehle St
This home is located at 1205 Mehle St in Arabi, LA and zip code 70032. This 57,600 square foot home was built in 1974. Features: 120 bedrooms, 90 bathrooms. It has been listed on Rocket Homes since February 25, 2025 and is currently priced at $4,690,000.
In February 2025, from all listings sold in Arabi, LA there were more than 2 sold above asking price, over 0 sold below and more than 0 were sold right at the asked price. Between January and February 2025, Arabi, LA real estate market has seen increase in the number of listings by 2.4%. The median list price of listings available in February 2025 was $285,000, while the average time on the real estate market was 65 days.