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Updated almost 5 years ago,
Cap rates for multifamily investing
I am looking around in the midwest for my first multifamily apartment. I am seeing several multifamily apartment complexes, usually 6 to 8 units. The cap rates I am calculating appear around 5%.
Example: Property listed for 475k, NOI: 27k; Cap rate 5.6%
What numbers would you consider investing in? What are good cap rates for multifamily apartments