Cap Rates for MultiFamily in Houston?

[Kian Tajadod]

Anyone have a general ballpark of what cap rates are on 8-15 unit MultiFam in Houston?

[Zachary Russell]

This is going to depend on a ton of factors A) Houston is a giant area with a wide spread of varying cost of real estate and you better know what is what because it can make or break your deals. B) cap rate isnt going to take value add into account or vacancy or how you can raise the cap. C) cap rate is going to be based on the sellers rent rolls and P&L's and alot of the times they aren't going to count all the expenses for example if they are self managing the property and now you need to factor in having a property manager.