Current cap rates? Considering Sale of my 4-plex
I have a fully rented out 4-plex generating a solid return, but am looking into buying a primary residence in California and will need the money for a down payment. The amount of equity I have in the investment property is a big factor in whether or not I am ready to sell so I am trying to get an idea of what the market looks like right now for a small multifamily (4-plex) in downtown phoenix.
The property had gut rehab when I purchased 4 years ago and is modern and in great shape, and has been consistently fully rented out. Does anyone have an idea of what current cap rates look like?
Thank you!