1031 Exchange into Net Lease

Like a phoenix reborn from the ashes, Tom’s apartment building at 625-629 Haight St was victim to a fire. Having lost his rental income, Tom got to work with the remodel and rebirth of his investment. With the haunting memories of late-night calls from tenants, and legal battles that ensued after the fire, Tom was ready for a permanent solution. NLX helped Tom in the education of net lease investments, and the full service of his 1031 exchange, identifying three replacement properties and closing on his first choice, a newly built Sleep Number in Fresno, CA. Tom deferred his capital gains, resurrected his cash flow, and dramatically reduced his management responsibilities. Most importantly, this move allowed Tom to retire two (2) months after the transaction closed, allowing him to focus on what he loves: travel. 

Property Sold

Property Acquired

625-629 Haight St

6 units | San Francisco, CA

Sale Price: $3,450,000

COE Date: Dec 2018

Net Income (before)

$0

Sleep Number

Fresno, CA

Sale Price: $3,127,000

COE Date: March 2019

Net Income (after)

$183,280

“Throughout the whole transaction, NLX explained the next steps as they arose and always advocated for me.  Even after the transaction was completed, NLX found an error in the closing calculations and had them send me the final check.  I believe the entire experience was directly attributed to NLX’s knowledge and integrity.” – Tom

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©2018 by NLX | Colliers International | Net Lease Exchange

San Francisco, CA | info@thenlx.com | (415) 723-1554