Raising rents calculation - expert opinion needed

[Steven Barr]

Ex: $2,000,000 15 unit apartment with gross income of $270,000. NOI after 40% expenses is $162,000. Cashflow after debt service of $120,000 is $42,000. Cap rate is about 8% in this example. CoC return is 8.4% (assuming 25% down)

If you purchased this for the $2,000,000 price and then raised gross income from rents to $324,000. NOI after 40% expenses is $194,000. Cashflow after debt service of $120,000 is $74,000. Coc return is 14.8% (assuming 25% down)

If we assume this is truly an 8% cap rate area... did you really raise the value of this property to $2,425,000?

Also, if you wanted your buyer to receive an 8% CoC return with 25% down, wouldn't you be able to now sell this for $3,700,000 with the new cashflow?

What am I looking at correctly? What am I looking at incorrectly? I am a newbie so PLEASE feel free to tear this up. Thanks guys!!!