One of my favorite parts of multi-family investing is that the market-value of an income property is determined by how well it is ran and not by what the neighbors are doing.
There is still a benefit to owning real estate that you have added value to. The Loan-to-value ratio goes up when comparing two loans of equal principals.
Just because you did not buy a property specifically aimed at a value-add strategy does not mean you cannot benefit from forced appreciation.
The capitalized benefits of forced appreciation apply to any investor that is interested in either refinancing their property or selling.