4 unit - to refi to a 10 yr fixed or not?

[Robert Hooks]

Hello,

I have a question about a situation I am in and I am trying to weigh the pros & cons.

I currently own a 4 unit property that has approximately 25 years remaining on the 30 year fixed loan @ 4.375%.

Current payment is $2789/month before taxes and ins. Current gross monthly income is $6500. Over the remaining life of the loan I will have paid around $350k in interest. (I understand the tenants are paying the interest but then what do I do with that cash flow)

*IF* I am able to refinance to a lower rate in the mid 3's by moving in and doing an owner occupied 10yr fixed loan, what are the benefits, or what math should I be running from the investment standpoint that would help look at the benefits/risks of the leave it alone scenario vs refi? Also are there any tax benefits to paying it off earlier?

With the refi I would only pay somewhere around $90K in interest.

The property is a 4 unit that currently carries itself if two of the units are rented.

Any thoughts or strategies on how I should be evaluating this, or if I should be thinking about using the cash flow as it stands another way, would be much appreciated.

Best,

Rob