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Updated over 7 years ago on . Most recent reply

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Chris Claro
  • Investor
  • Newport Beach, CA
0
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3
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1031 guidance for an unsual situation

Chris Claro
  • Investor
  • Newport Beach, CA
Posted

Hi Guys, 

First post on here!

I sold a warehouse that I owned since 2011 this January and did an exchange carrying over $1m into another commercial property purchase price $1.5m.

Im currently submitting plans to the city turning that commercial space into a 4 unit property. 1 commercial and 3 residential.  Each unit will have a separate address.

My question is: Am I able to sell any of these condos without triggering my exchange or would I need to sell the 4 units together? My worst case scenario is that I rent out the 4 units.

Thanks in advance.

Chris 

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