All Forum Posts by: Todd Moriarty

Thanks man.   I haven't picked out a place just yet.  I'm looking to expand outside the Detroit area and looking for a decent/safe area with good returns/cap rates, strong market.  I've always heard Grand Rapids is a good area to look at.  Although you guys get a lot of snow.

I'm looking for roughly 100 units, C area, C building.

LOL, no, I would never trust a listing cap rate.

Thanks for the info.

I'm in the Detroit area and multi-family buildings, 35-45 years old, in a C area, 20-30 units cap rate is in the low 8s.  That's what brokers/appraisers told me recently.

I'm looking outside the area to purchase in a good stable market with decent returns/cap rates.

Thanks for the link.  But I don't have much faith in those numbers.  For example, I'm in the Detroit area and know from speaking to local brokers/appraisers that the cap rates here are in the low 8s.  Depending on the area.

That site says Detroit area is in the 6 range.  And San Francisco in the 5 range.

That's just not true.  These markets aren't 1 point apart.  I realize it depends on many things such as neighborhood, building size, class, age...etc.

Anybody know what the multi-family cap rate is in Philadelphia, PA?

Anybody know what the multi-family cap rate is in Columbus, OH?

Anybody know what the multi-family cap rate is in Las Vegas, NV?

Anybody know what multi-family cap rate is in Omaha, NE?

Anybody know what the multi-family cap rate is in Minneapolis?

Anybody know what the multi-family cap rate is in Grand Rapids, MI?