Triplex
A single building with three separate units. Same idea as a duplex, one more unit. Still qualifies for residential financing.
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Where this comes up: getting ready
Part 1 of 4
Why a seller cares
Three units still finance as residential, and a buyer can live in one with an FHA loan. Like every small multi-family, it sells on rents, leases and expenses more than finishes.
Part 2 of 4
A simple example
Your triplex rents for $1,000, $1,050 and $1,100 a month. An FHA buyer plans to live in the smallest unit and asks for all three leases.
| What the buyer wants | What you provide |
|---|---|
| The leases and rent roll | Copies, with lease end dates |
| Expenses | Taxes, insurance, utilities you pay, repairs |
| Which unit is vacant or can be | A date, if they plan to live there |
A triplex is a house-sized building with a business inside it.
Part 3 of 4
What people get wrong
That an owner-occupant buyer cannot buy a triplex. FHA and conventional loans both allow up to four units when the buyer lives in one.
Part 4 of 4 · where to read next
Where it appears in the sale
What a definition is, and what it isn't
Keighbor is a software company, not a law firm, brokerage, or tax adviser. This is general information, not legal, tax, financial, or real estate advice about your sale. Your situation may differ. Before acting on a contract, disclosure, title, tax, or pricing question, ask an appropriately licensed professional in your state.
Written and researched by Keighbor Research · drawn from the reference glossary · how we research and check what we publish
In your Room, this word explains itself where it appears.
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