Sell triplex and buy 12 plex in Oakland good idea?

[Sateesh Kumar]

Hello,

A relocation to CA bay area seems imminent due to job and therefore selling an owner occupied triplex also seems imminent. I was initially considering selling my triplex and buying a single family in the bay area for the sake of aggressive future  appreciation while also giving a comfortable living with family but being a single W2 earner the numbers are still not making any sense besides future appreciation is highly speculative.

So I was thinking if it would it make sense to buy a 12 plex in places like Oakland for around 2.2 mil using the sales proceeds of the triplex perhaps do a 1031 exchange. I am expecting to sell the triplex for around 1.2 - 1.3 mil and there is about 500k in loan balance so there is up to 800k in equity. Appreciate your inputs

Thanks