I am planning to buy a 20-30 units class B building in Houston inner loop area as a land play. What are the cap rates that you have been seeing in that area.
Hey @Thawda Aung I’m assuming these are MF? Correct?
Yes. Multi family. 1b1b and 2b2b
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@Thawda Aung What is the zip?
@Kevin Wood 77019
@Michael Pittman I started with SFs as well. This is my 2nd deal.
@Thawda Aung In that area you're probably looking in the upper 3s to the upper 4s. I've seen them as low as the upper 2s and as high as the lower 5s. But generally, that 3-4 range seems to be the norm from my experience.
@Thawda Aung nice work we manage multifamilies in this area. I would say that a property in that area would be a 6 cap. Shoot me an email if you want more details.
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