12 unit apt - What is this Craigs list add trying to tell me?

[Sean Gover]

I'm not educated on the short hand here.  Can someone explain to me what this add is trying to tell me about the returns on this apt building?  Particularly the 2nd paragraph.  I think they are trying to say a 435K investment is returning 30k a year which is a 7% cap rate.  Does that make sense?

"Always cash-flowing (NOI=$46K) 12-unit apartment in one of the best, most-homey parts of Albuquerque Downtown. Close to 12th St & Mountain, easy access to I-40 and I-25. Solid cash-flow income property, always filled. Recently upgraded. Appraised $445K.

Asking $435K, prefer cash or loan purchase -- but short-term owner financing is possible with good down. Solid [ACTUAL] NOI is $30K (includes professional management) for a cap rate of 7%; fully occupied as of March 14; Priced at $36K per unit. Text/Email/Call me if these kinds of numbers appeal to you."