1031 Exchange - New to BiggerPockets

[Richard Silva]

Hello my name is Richard, I live in the Long Beach area (Los Angeles County).

My question is:

 I own a house that is zoned "Heavy Manufacturing" but also its my primary resident. Would I be allowed to do a 1031 exchange, in that, I could investment in 2-4 unit properties since my residences is not zone residential but zoned Heavy Manufacturing.

Thank You

[Wayne Brooks]

 No, zoning doesn’t qualify it for a 1031, the use does. Of course you have the section 121 exemption, tax Free, up to $250k single, $500k married.....for a primary residence, occupied as such for at least 2 years, assuming it was always your primary residence since you’ve owned it....if not, a proration will apply.