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Hi everybody...

I am a lurker here on this board, but I have a question now that I am curious about.

I see various ads in papers concerning income property that states some number as CAP. I don't know what CAP is, and was curious as to it's meaning and relevance.

e.g., here's a recent ad that I saw:
32 unit apt. 11.23 cap °$1,400,000

Thanks for any info!

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