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Updated almost 7 years ago on . Most recent reply

User Stats

36
Posts
17
Votes
Ian Russell
  • Real Estate Investor
  • San Jose, CA
17
Votes |
36
Posts

Advice needed on multi family property

Ian Russell
  • Real Estate Investor
  • San Jose, CA
Posted

I have a duplex that is all paid off.  I bought it all cash in 2012 and it has appreciated modestly.  Bought for 120,000 could sell for most likely around 185,000.  Its an older duplex and has had a lot of maintenance issues.  Each side rents for 800 dollars.  Should I sell it and do a 1031 exchange and just get into a new type unit?  Or do I just hold onto it since it is paid off?  Currently net about 1200 per month after all is said and done.

Any advice is usefull

Ian

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