1031 Exchange of multiple condo parcels sold as one Transaction

1031 Exchanges
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1031 Exchange of multiple condo parcels sold as one Transaction

Davide Formica
Real Estate Agent · Columbus, OH · Member since 2018 · 38 posts · 29 votes

Is there a 1031 rule that limits the number of parcels (sold a single transaction) that one can roll over to one larger multifamily property?

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Wayne Brooks
Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
5y

Don’t think so, each property is treated individually. 
@Dave Foster ??

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  • Wayne Brooks
    Real Estate Professional · West Palm Beach, FL · Member since 2012 · 23k+ posts · 13k+ votes
    5y

    Don’t think so, each property is treated individually. 
    @Dave Foster ??

    1Reply
  • Dave FosterBusiness Member
    Qualified Intermediary for 1031 Exchanges · St. Petersburg, FL · Member since 2013 · 9k+ posts · 9k+ votes
    5y

    @Davide Formica, You can consolidate as many properties into one larger property as you want.  There are two keys:

    1. The purchase of the property has to fit within the 45/180 day timelines of every sale you want to put into it.

    2. The property you purchase has to be worth at least as much as the aggregate of the net sales.  And all of the proceeds of all the sales must to into the purchase of the replacement property.

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  • Davide Formica
    OP
    Real Estate Agent · Columbus, OH · Member since 2018 · 38 posts · 29 votes
    5y

    @Wayne Brooks thank you

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  • Davide Formica
    OP
    Real Estate Agent · Columbus, OH · Member since 2018 · 38 posts · 29 votes
    5y

    @Dave Foster thank you for confirming that. I appreciate it

    1Reply
  • Kory Thaut
    Investor · West Linn, OR · Member since 2015 · 100 posts · 58 votes
    5y

    @Dave Foster Just to confirm, the 1031 is based on the net sale of a property or properties, not gross? E.g. if someone sold an SFR for $500k with 10% in commissions, etc... the likekind would be for $450k+, not the $500k?

    Thanks,

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  • Dave FosterBusiness Member
    Qualified Intermediary for 1031 Exchanges · St. Petersburg, FL · Member since 2013 · 9k+ posts · 9k+ votes
    5y

    @Kory Thaut, Exactamundo!

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