Apartment complex selling at 6.52% cap rate

[Alan Bostick]

Hello! I am looking to purchase a small apartment complex, they want it at 6.52 cap rate, 5.25M asking.   (I think) I vaguely remember something being said that if you make a purchase with your interest rate higher than the cap rate it will eat most if not all of the profit. With rates being 7-8% would this be a wise point in entry for this asset type? I have only taken  preliminary look into this specific property.