Should I sell my building?

[Matt H]

Tell me your thoughts on this... I bought a building last year. It has 15 units. I paid $725k. My existing mortgage is for $610k. However, in Edmonton in 2006 properties appreciated by a whooping 51%. I've also increased rents and my building is now estimated to be worth between about $1.2m and 1.5m. My thought is that if I could sell it, I could realize this huge amount of appreciation right now. Pay out the first mortgage and be left with anywhere between about $600k and $900k cash. With which I could by a much bigger building. I had my eye on a few that had about 90 units. Not locally, but that would be netting at least 3 times the cash flow as what I have now. So in your opinion is a move like this worth doing?