A 30-year family duplex — sold, with the gains exchanged
Held by the same family for nearly 30 years and fully depreciated, this duplex was owned by two parents and a son living out of state. Both units were Section 8; one tenant vacated before we went to market, which opened up the pricing. The building and the units also needed some repair work.
We walked the family through the 1031 exchange process before listing. Rather than take the tax hit on his share, the son chose to exchange — deferring the capital gains and reinvesting in a cash-flowing property near the University of Nevada, Reno, purchased 12% below asking through an agent we vetted and introduced him to.






