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Updated 4 days ago, 12/27/2024

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5
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1
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Mark Sullivan
1
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5
Posts

Add to the Portfolio or Swap

Mark Sullivan
Posted

Looking for some input on how others would approach this situation. 

Currently own two properties under different LLC.

LLC "A" has a commercial property, no loan/debt, with a 15 year NNN left on it valued at 5-6 Million (recently a broker offered us this if we were interestd in selling). The profit is 200k per year with this LLC but only has 1 tenant.

LLC "B" owns a multifamily 2 unit in a highly desireable location. Both Units are rented out, value of property is more than $900k. Property has no loan on it or debt.

Owning the multifamily has it's challenges as everyone knows when you compare NNN to multifamily. I'm more willing to move off "LLC B" property because of the work required to keep this going.


The question: A commerical property in a highly desireable location which could fetch $6+ million and generates about $400k after expenses became available and I'd like to add to our portfolio instead of doing a 1031. The unit has 7+ units and is mostly rently. The leases look like (3) 10+ years and (4) 2-4 year leases

How would you approach and I know there's going to be different schools of thought and that's what I'm looking for. And maybe the answer is it can't happen without selling both to get this one. But love to hear from others

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