Every multifamily sale has a story, and this one is a great example of how the right timing and strategy can help investors achieve more than just a successful sale.
I had been talking with the owners of this North Tacoma triplex for a couple of years about their long-term plans. Earlier this year, they reached out after finding a waterfront property they had fallen in love with. Their goal wasn't simply to sell—it was to complete a 1031 exchange, defer capital gains taxes, and reinvest their equity into a property their family could enjoy for years to come.
Together, we developed a marketing strategy that targeted both multifamily investors and owner-occupant buyers, maximizing the pool of potential purchasers. The result was a full-price sale and a closing that aligned perfectly with their exchange timeline.
By utilizing a 1031 exchange, my clients were able to defer capital gains taxes and purchase a beautiful waterfront cottage just in time for summer. When they're not enjoying the home themselves, they'll generate additional income by operating it as a short-term rental.
This transaction is a great reminder that real estate isn't just about buying and selling buildings—it's about helping clients use their equity to achieve personal and financial goals.
Congratulations to my clients on the successful sale of their North Tacoma triplex and the purchase of their new waterfront getaway. Wishing your family many memorable summers ahead! 🏡🌊☀️
Thinking about selling your apartment building or multifamily property?
Whether you're considering a 1031 exchange, downsizing your portfolio, or simply curious what your property is worth in today's market, I'd be happy to help you explore your options.
Charles Burnett, CCIM
Founder | Sound Property Group
Specializing exclusively in apartment buildings and multifamily investment property sales throughout Seattle, Tacoma, Bremerton, and the Puget Sound region.