What is a triplex?
A triplex is a 3-unit house. Unlike a single family residence ("SFR"), a triplex contains three completely separated living units under one roof:
- 3 entrances (three different keys and locks)
- 3 kitchens
- 3 separate utility meters (typically)
Why are triplexes an attractive real estate investment?
Triplexes are more attractive than SFRs and duplexes to many rental property investors because they qualify for residential (non-commercial) mortgage loans and allow an investor to diversify tenants while maintaining one common housing structure to maintain. Many investors would much prefer owning and managing a triplex instead of 3 small single family houses.
Triplexes are also fantastic for house hacking as you can live in one unit and rent out the other two units.
How do I find triplexes for sale?
The availability of triplexes varies based on the local market. Here is where you can find triplexes:
- Facebook Marketplace
- Local wholesaler buyer's list