price for 24 units luxury apartments based on noi

[A.J. Chesney]

just wondering with these basic P&L numbers, what would be a good offering price?

using their initial number, i believe  it puts the deal at  about a 6.7 cap

24 units, 12 1/1, 12 2/2

gross rents  297k 

other income ~10k

utilities 20k

repeairs 27k 

advertising 1200

admin 17k

management fees 15k

taxes and insurance 36k  

NOI = 184k

property  seems a good bit overpriced at 2.7 mil

it is in a central area where home prices are relatively high, gated community, and very nice units