Apartments/multiunit package deal in CA

[Janie G.]

Hello,

My partners and I are looking to buy apartment buildings or a package deal of several multi-units in Orange County or Los Angeles County CA.

The units need to be rented and cash flowing. We're hoping to get a CAP rate of 12-15% (if possible) and can pay up to 8M$.

If you have anything available in these waters, please send the information my way. 

Thank you for your time. 

[Aristotle Kumpis]

Originally posted by @Janie G.:

Hello,

My partners and I are looking to buy apartment buildings or a package deal of several multi-units in Orange County or Los Angeles County CA.

The units need to be rented and cash flowing. We're hoping to get a CAP rate of 12-15% (if possible) and can pay up to 8M$.

If you have anything available in these waters, please send the information my way. 

Thank you for your time. 

 Hi Janie. You will not find a 12-15% cap rates on apartments in OC or L.A. Cap rates are usually hovering around 3-4% in those markets. You can go about 30-40 miles east and find something with a 6-8% cap or maybe a little higher. But you would be in a rough area potentially. The OC an L.A. markets are really for equity investors, not cash flow investors. 

What is your ultimate goal? Are you trying to build up cash flow, or equity?