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1031 exchange

Level 1

will a newly built residential unit (not renovated or upgraded building but brand new) in the US qualify as a like kind property for a residential rental unit in a 1031 exchange.  The relinquished property has been a rental unit for over 2 years.

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2 Replies 2
Level 15
Yes... assuming all the other requirements are met. Being 'brand new' is not relevant.
But I suspect there is more to this story?
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Level 15
Who did the newly built?
How long did it take to build?
??? The less I know, the more I want to know.
“For every tax problem there is a solution which is straightforward,
uncomplicated-and wrong.” — anonymous