Selling SFR to buy Multi-family

[Eileen L.]

For those that had SFRs and sold to buy a multi-family, when did you feel it was the right time to scale? I’ve considered selling a property later this year that has $240k in equity to buy a quadplex using a 1031 exchange. I'm looking for advice from those that have done something similar and if you'd recommend pursuing this. Thank you!

Property: SFR in Ontario, California
Rent $3200
Mortgage Payment (2.875% rate) - $2661.06 + $185 HOA = $2846

Mortgage Balance - $456k

Estimated Value - $700k
(3 bed/2 bath)

[Eileen L.]

@Jonathan Greene Thank you for the advice, appreciate it!