What's a good cap rate for apartments/ multi family?

[Martin Herrera Jr]

Hey guys I got a 6 plex with 2 houses and 14 apartments for sale but I just wanted to hear yall's opinions on what's a good cap rate for multi family properties here in the Rio Grande Valley.

[Justin Moy]

If you're planning on listing them I'd direct that question to the broker. Sometimes cap rates matter less with multifamily if there's value-add potential so some buyers are okay buying at a (let's say) 3 cap if after the rehab it's a 6+ (or whatever is good for that market).