Multifamily Prices so High that Only Cash Makes Sense, But Why Not Put Cash in CDs?

[William Coet]

I don't have the cash, but other buyers do.  I still would like to understand why they are paying the prices they are when they could put the cash in a CD and earn interest worry (and work) free.

I'm referring to multifamily properties that have no room for rent increases through value add.  They are "priced to perfection" and the numbers don't even come close to penciling out if someone has to get a 30 year mortgage.  For example: 975k for an old (100 years) place with 100k income and 27k property taxes and owner paying $8,200 in annual utilities plus insurance and maintenance costs.  But they sell!!!

Why are people willing to pay these prices when they could put it in a CD?

Thanks!