On a multifamily, what cap rate would be best to consider?

[C. Raine Williams]

On a multifamily what cap rate would be best to consider?

I recently been told that the best cap rate to consider on a multifamily of 100+ units should be about 7%-8%, with an occupancy rate of 75% to 80% in order to qualify for the best LTV term loan possible?

I know location is important, however, is this a true estimate on cap rate for multifamily units?

Raine