The Arabi Townhomes 1205 Mehle St 60 Unit Apartment Building $4,690,000 ($78,167/Unit) 7.14% Cap Rate Arabi, LA 70032
EXECUTIVE SUMMARY
- Cap rate: 7.14% | Pro forma cap rate: 9.45%
- 1975 Vintage | Value-Add Opportunity
- Ability to raise rents 20-25% with minor cosmetic updates
- 97% Occupied
- 1975 Vintage | Value-Add Opportunity
- Ability to raise rents 20-25% with minor cosmetic updates
- 97% Occupied
PROPERTY FACTS
| Price | $4,690,000 |
| Price Per Unit | $78,167 |
| Sale Type | Investment |
| Cap Rate | 7.14% |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 1.62 AC |
| Building Size | 58,624 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1975/2008 |
| Parking Ratio | 1/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Vision Impaired Accessible
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 60 | - | 960 |
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PROPERTY TAXES
| Parcel Number | 139900000126 | Improvements Assessment | $67,000 |
| Land Assessment | $5,000 | Total Assessment | $72,000 |
