1031 Exchange for 50% of Owner-Occupied Property

[David Pedersen]

I own a 4 unit apartment building, live in 50% of the building and rent out the remaining 50%. I'd like to sell the building and do a 1031 exchange for the 50% share that is income property by purchasing a like-kind property, and take the $500k personal capital gains exemption (married) for the other 50% in which I reside. Is this possible? Thank you for any insight you can provide.