What Is a Triplex in Real Estate?

A triplex is a residential property divided into three separate living units—each with its own entrance, kitchen, and utilities. Like a duplex, a triplex allows owners to occupy one unit while renting out the others or to treat all three as income-generating investments.

🏘️ How a Triplex Works

A triplex is typically owned under one deed and financed as a single property. Each unit may be leased independently, offering a balance of owner occupancy and rental income potential. Some cities allow triplexes to be legally divided into condos, enabling the owner to sell individual units separately.

🏠 Triplex vs. Duplex

  • Number of Units: Duplexes have two units; triplexes have three.
  • Income Potential: Triplexes can generate more rent with lower per-unit overhead.
  • Financing: Properties up to four units qualify for standard residential loans.
  • Management: More tenants can mean higher maintenance, but also higher return.

✨ Pros and Cons of Triplex Ownership

Advantages: More units mean higher income potential, economies of scale, and flexibility to live in one unit while renting others.

Drawbacks: Managing multiple tenants can be time-consuming, and vacancy losses have a greater financial impact than single-family homes.

📢 Selling a Triplex FSBO

Selling a triplex “For Sale by Owner” gives you flexibility and control over an investment property. You can list your triplex on the MLS with Brokerless for one flat fee, ensuring your listing appears on Realtor.com, Zillow, and local MLS databases while keeping more of your equity.