Real Estate Term
Triplex
A residential building containing three separate units.
What is Triplex?
A triplex is a residential building with three separate units, often on a single title, used for rental income or as an owner-occupied investment. An owner might live in one unit and rent the other two to offset the mortgage. Because it produces income from three units, it appeals to investors seeking cash flow.
Frequently asked questions
Related terms
DuplexA residential building containing two separate units under one roof.Detached HomeA freestanding residential structure not attached to any other dwelling.MortgageA loan used to purchase real estate, with the property serving as collateral.TitleLegal ownership of a property.Title InsuranceInsurance that protects against losses from defects in title or ownership.Title SearchAn examination of public records to confirm a property's legal ownership and identify any claims.TownhouseA multi-story home that shares walls with adjacent properties.
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