Off market offer on my multi family appt - is this deal worth it?

[Rashmi Nigam]

I received an offer market offer for my 50 unit building in AZ. Here are the details:

Purchase Price - $3,500,000

Earnest Money - $35,000

DD Period – 60 Days after DD items received

Closing date – After August 1 & Before September 1

Title/ Closing Costs – ALTA Survey @ Seller’s expense (if required by lender)

I purchased the building about 20 months ago and here are the numbers (back of the envelope).

Original purchase price: 2.95M

Loan amount was 1.84M

Principal paid to date is 57K

Principal down: 1.1M

Proceeds from sale - loan = 1.716M

commissions: 175K

Net in our pockets (not including closing costs): 1.525M

Gains from initial investment: 441K

We have to do a 1031 exchange to our next property. Wondering if this is a worthwhile gain to take now vs. doing a forced appreciation on the property and wait it out. Also wondering if I need to be evaluating this offer differently from how I am looking at it. Appreciate any advice as always.