Using first-principles spin-polarized density functional theory, we carried out an analysis on the atomic structure, stability, energetics, and mechanical and electronic properties of single-layer structures of arsenene. These are buckled honeycomb, symmetric, and asymmetric washboard arsenene structures. Our analysis is extended to include layered three-dimensional crystalline phase of arsenic, as well as bilayer and trilayer structures to reveal dimensionality effects. The buckled honeycomb and symmetric washboard structures are shown to maintain their stability at high temperatures even when they are freestanding. As a manifestation of the confinement effect, the large fundamental band gap of single-layer phases decreases with increasing number of layers and eventually is closed. Concomitantly, lattice constants partially increase, while interlayer distances decrease. The effects of hybrid functional or self-energy corrections together with the spin-orbit coupling on the electronic structure of arsenene are crucial. The responses of direct and indirect band gaps to biaxial or uniaxial strain are rather complex and directional; while the fundamental band gap decreases and changes from indirect to direct with the biaxial strain applied to buckled arsenene, these effects are strongly directional for washboard arsenene. The width and the indirect/direct character of the band gap can be tuned by the number of layers, as well as by applied uniaxial/biaxial strain.