Cap rates on Turn Key Apartment Buildings worth $1.5m-$2.5m?

[Account Closed]

What is a reasonable cap rate to find on current MLS listed apartment buildings, in a good neighborhood (A/B) in the $1.5M-2.5M if buying at fair market value?

I know there are a ton of variances here, but if anyone has any recent transactions dealing with these kind of properties in the last 6 months I would love to hear your thoughts.

Is it easy to find something in the 8-10% cap rate range if you're not looking at appreciation but mainly steady cash flow?

[Howard Klahr]

You are probably going to be seeing the cap rates almost half that range in that market for stabilized properties