San Francisco

[Raimondo F.]

Hi,

I own a 2 building 4-plex in San Francisco. I did an Ellis Act and the two units in the back building are empty. I'm considering selling the two units as TIC and I have some questions.

Does anyone know if I can use the proceedings to do a 1031 exchange into another property?

I'm looking at a property that costs less than what I might get from the sales of the back building, can the 1031 still be done? If yes, how is the difference treated as far as taxes are concerned?

Thanks!