Looking for a 10% Cap Multi Family Property to buy

[Arun Iyengar]

Does such a thing exist and if so where? It seems like an Unicorn, with many supposed sightings but no real pictures :-)

I am looking for a larger scale multi family property to buy in a non rent controlled area of the US. Also, I am looking for this cap rate based on current rents, not pro-forma rents.

So, does such an Unicorn exist? If anyone has ideas, please provide specific locations or even properties which satisfy the cap rate criteria.

Thanks