Whats a good Cap Rate?

[Christian Orellana]

So i have a 16 unit multifamily in Brooklyn. its a prime neighborhood and the only negative aspect is that majority of the apartments are Rent Stabilized. My questions is whats a good cap rate and how high can i ask for in the event i decide to to sell this property. Just to give you an idea. I had someone tell me the most i can ask for is 2.5M. I feel thats a lowball number.

Income: $194k
Expense: $75k
NOI: $118k

Thanks in advance.