7%+ Cap Rate Multifamily East Coast Cities

[Tyler Kastelberg]

Despite the recent sell off in medium to long term interest rates, multifamily cap rates continue to compress along most of the east cost. My California investors like to invest out-of-state in medium to large multifamily properties ($1 million to $10 million acquisitions). In what Tier 2 sub-markets can a 7%+ capitalization rate still be achieved?