Turnkey large multifamily in midwest - what am I missing?

[Paul Hormann]

I have the opportunity to buy a large portfolio of off-market 4 plexes in a far chicago suburb in an A class neighborhood. Buildings are <10 years old and, with conservative numbers, would provide a 9-9.5% cap rate. I'm interested in syndicating this deal, which could give investors 12-14% CoC returns and myself much higher with an equity bump, but there's really no value add opportunity and the market is stagnant. I have a property manager I trust. What are your thoughts on this? Is this something investors would be interested in? I don't have it under contract yet, so can't provide more details, but I'm interested in thoughts on the strategy. Thanks!