What Do you consider a good Cap rate?

[Dustin Lyle]

I read in a thread concerning California where multi unit residentials are selling around 4-5%.. which lead me to a good question.. As investors from across the country, what do you consider to be a good cap rate? Being realistic.. what do you look for in a rate of return per annum? Talking about multi unit residentials. Thanks ahead to anyone who responds.
Dustin