A triplex is a rental unit that covers three floors or three apartments. Triplex condos or apartments are usually part of the original design of an apartment building. However, in some cases, triplexes are the result of an occupant opting to buy units on top of each other. Triplex lofts contain three units that are associated with a private inside flight of stairs. They are particularly popular with families opting for their smaller size and three-story design. Additionally, triplexes often come with community amenities, like parks and public pools.
There are some advantages with buying or leasing space in a triplex apartment. In most cases, a triplex will have attractive amenities. Examples include in-unit washing machines, carports, yards, patios and sometimes even garages. These are features you are more likely to have in a house than an apartment building. These amenities are great benefits.
Triplexes tend to be very spacious. They are actually among the largest residential units you will find.
In many suburban and urban areas, you will find trendy and high-end triplexes. These are highly desirable properties and are often in great neighborhoods.
Additionally, if you are an investor and decide to own two or three of the units in a triplex, you can pay off your home loan more quickly. This is because of the high rental payments you will receive from tenants.
The flights of stairs in the triplex apartment can be shared or owned by one occupant. It will depend on the layout of the triplex and its original architecture. Many home designers choose to use one set of stairs to minimize stairwell space in the triplex.
Living in a triplex permits you to appreciate a few advantages you would regularly pass up in standard apartments or condos. The equivalent goes for selecting to live in a triplex, as opposed to smaller multi-units like duplexes. Nonetheless, some of the drawbacks don't outweigh the benefits to many tenants and investors. A couple examples include the high costs and their overall shortage. All things considered, look at both the pros and cons before opting to find a triplex for lease or sale.
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