Need HELP on West Hollywood hills multifamily property

[Daniel Schoonmaker]

My partner and I found a 5 br 3 ba triplex located in west Hollywood hills. The homeowner is selling because he wants to move out of state in Tennessee to build his dream home close to their grand kids. The property is owned free and clear and here are the facts before rennovations:

Sq ft: 2768
Lot: 3073 sq ft
Gross monthly rent: $4000/mo
Other income (3 additional parking spaces, coin laundry room) $600/mo
Total monthly income: $4600/mo
50% rule for expenses: $2300/mo
Cash flow: $2300/mo
Repair estimates would cost $50,000 based on the sq ft on cosmetic repairs

After renovations, we can raise rents to $6000/mo which raises NOI to $44,400 per year

Now I know that's only a cap rate of 4%, would this deal make sense for buy and hold or rehab investors?
I am curious as to what my options can be for exit strategy. Would like some feedback please!