Hello David and thanks for your post.
There are at least 4 very good duplexes in Sunnyvale--the best one priced at $1.2 million but with a $30,000 annual cash income and solid stable tenants--ranging in price from the aforementioned $1.2 million to the mid $800,000s, and at least 5 good duplexes in Mountain View ranging from $1.2 million with Los Altos Schools to around the high $700,000.
If you'd like more information on any of these homes or to schedule a time to see these properties, please let me know. If you are using a Realtor, I'm certain that he or she can easily look at these same properties for you!
As Terri noted below, if you're finding resistance purchasing a home due to the fact that you're a contingent buyer (meaning you have to sell the Palo Alto property first), you can sell your home and use a third party exchange facilitator to assist you in completing your 1031 exchange. The exchange facilitator will hold the money in escrow and will allow you to sell the home within the specified time window before having to identify and close on the second property at the same time. Being able to close on the first home is important to giving the seller the assurance that you can and will buy their property.
Grace Morioka, SRES
Area Pro Realty
Tel (408) 426-1616
Rebates to Buyers up to 1.5% of Purchase Price; Listing as low as 1.25%