The vibrant city of Phoenix, Arizona, is home to over 1.6 million people. The hot city has a lot to offer homeowners and has an incredible list of amenities available. With over 300 days of sunshine each year, there’s always something for the outdoor enthusiasts and an air-conditioned place for those who prefer to stay indoors. The city welcomes many tourists each year, which means there are many attractions to keep people busy. A diverse economy is growing stronger each year, a stable real estate market and excellent education options make Phoenix, AZ an increasingly desirable place to call home. Interested buyers will have plenty of options when it comes to finding their dream home in Phoenix.
For more information on real estate for sale in Phoenix, Arizona, schedule a showing, call us today or send us an email.
Gearing up to buy or sell a triplex home soon in Phoenix? Call Patrick O'Sullivan at (602) 842-5050. Your Phoenix realty team is here to help navigate the Phoenix real estate market.
While multi-family homes come in various shapes and sizes, a triplex is a property with three separate units and living spaces. Triplexes are becoming increasingly popular among investors and those looking for more affordable housing options.
Triplexes are an excellent option for affordable and investment housing in Phoenix, AZ. Interested buyers can seek out one unit in a triplex or purchase an entire building and rent out the other properties. A unit in a triplex is an exceptional option for those who don’t need a lot of living space like single young professionals, a couple who are empty nesters, or retirees. Interested buyers can find properties from $150,000 to over $4.5 million in Phoenix.
The Phoenix, AZ area is expansive, and many communities have triplexes available for sale. For buyers who love a specific Phoenix community, they’ll likely find triplexes there. The most popular communities include Downtown Phoenix, North Mountain Village, Encanto Village, and Camelback East.
There are plenty of reasons to purchase a triplex in Phoenix. It’s a popular option for investors and families. As an owner, you can purchase the entire building, rent out two, and live in the third. If you have a large extended family, you could choose to rent out the other units to family or friends. For people who look after their parents or have a unique family situation, it could be an excellent option. If you decide to purchase a property and rent out all three units, it can be an excellent investment and an excellent addition to any portfolio.
A triplex in Phoenix, Arizona can be an excellent investment, but without lots of cash on hand, you’ll likely need to finance through a bank or other loan program. Most lenders will qualify a triplex as a residential purchase, but depending on the building it could be considered commercial. There are a few different options when choosing a lender for your new mortgage.
The first option, a traditional mortgage, is best for those purchasing a triplex as an investment property without living there. It requires more of a down payment and better credit scores than other options. The risk of purchasing a rental property is much higher for lenders, so the requirements are more stringent.
The second option is a Federal Housing Administration (FHA) loan. For those looking to live in one of the three units, this loan is the best option. FHA loans are less strict, have a smaller down payment, and lower interest rates on average.
The last option is a Veterans Affairs (VA) loan for current U.S. military members or former members. There's no down payment required and buyers don’t require an excellent credit score or private mortgage insurance.
There is plenty to know about buying a triplex in Phoenix when it comes to lending and other aspects that don’t come along with buying a single-family home or condo. Investment buyers can use the income from the rentals towards the loan amount, which is more substantial based on the property’s size.
Looking for the ultimate guide in buying a fourplex? Check out our post here.
Perhaps your more interested in a duplex unit?
Multi Family Land for Sale in Phoenix can be found here.
GetMultiFamily.com is a team of professionals and experts who know the Phoenix triplex real estate market’s ins and outs. We have a long list of clients who have had an incredible experience with us. Our track record proves that we’re the best in the area, and our happy clients will attest to that. We specialize in duplexes, triplexes, fourplexes, and other multi-family properties. Our first choice for our valued clients who are considering buying or selling is the Cap Core Real Estate Group. Patrick O’Sullivan leads the impressive Cap Core Real Estate Group team. He came from being the head real estate advisor at U-Haul. After his impressive career, filled with accolades like Agent of the Year and the CCMI (Certified Commercial Investment Member) designation, he began Cap Core. You are in the best hands with the team orchestrated by Patrick, and they’re the number one choice for all your real estate needs in the Phoenix area.
3 Unit Multi Family Unit at I-17 and Northern. All three units are 2 bed. All units have central AC and heat pump. Fenced in courtyard in front of units. Tenants pay a s...
Multiple Dwellings at North 19th Avenue and West Van Buren Street off of Black Canyon Freeway (I-17)! #1 is a 2 bed. #2 is a one bed. #3 is a separate detached studio ca...
!!Gorgeous Multi-family Tri-Plex property in the heart of Phoenix with a beautiful detached duplex split into two units!! Showcasing a traditional split floor plan with n...
Investor special! Call agent for access. At least 24 hour notice required for showing. This property consists of 3 detached units which are on the same lot. All will be ...
Be the proud owner of this fantastic triplex located in Phoenix! Charming curb appeal, five paved parking spaces, and two buildings. The units have an inviting living roo...
Location, Location, Location. OPPORTUNITY, OPPORTUNITY, OPPORTUNITY. Beautiful opportunity to own 3 separate detached rental homes walking distance to down town Phoenix! ...
This is huge 3000 square foot apprx side by side duplex and a 780 sq ft apprx single family house with a 1 car garage. All on a huge 16k sq ft lot with tons of parking fo...
Incredible opportunity to own a well kept triplex with historic charm in the very desirable Garfield Historic District. Home has original features including oak hardwood ...
3 Units, Built in 1958, Garden-Style Property. 100% 1-Bed / 1-Bath Unit Mix. Value-Add Opportunity Through Interior & Exterior Renovations. Walking Distance to the Lively...
Welcome to Clarendon Square where character and location come together. Gated Triplex with two 2 bed/1 bath units, and one 1 bed/1 bath unit. Rare investment opportunity ...
AMAZING OPPORTUNITY NEAR DOWNTOWN PHOENIX. BUILT IN 1926 THIS UNIQUE PROPERTY HAS TWO STUDIO APARTMENTD IN FRONT WITH A MECHANIC SHOP IN REAR. CITY ZONED R-3 WITH A PROP...
3 Units, Built in 1960, Garden-Style Property. (2) 1-Bed / 1-Bath & (1) 2-Bed / 1-Bath. Value-Add Opportunity Through Interior & Exterior Renovations. All Tenants on Mont...
3 Units, Built in 1953, Garden-Style Property. Attractive Unit Mix Consisting of 100% 2-Bed/1-Bath Units. Value Add Opportunity Through Interior & Exterior Renovations. O...
Great investment opportunity, tri plex with great income potential. This property has two different buildings one is a 3 bedroom 2 bath home and the other is two 2 bedro...
Cash flowing triplex with renovated units. One unit has hard wood vinyl plank floors, the other 2 have glossed concrete. All units have a washer/dryer in unit. All units ...
Cash flowing triplex with renovated units. One unit has hard wood vinyl plank floors, the other 2 have glossed concrete. All units have a washer/dryer in unit. All units ...
Great investment in uptown Phoenix! This charming 3 unit property hits all the criteria- Across the street from Madison Academy, close to trendy restaurants, and easy acc...
Renovated Triplex CASH COW! 3 bed 1.5 bath main unit with its own yard, rented for $1,800/mo. Huge 2 bed 1 bath units in the back with their own large yards. All units h...
Excellent multi family income producing property with C-2 Commercial zoning. All long-term tenants but are currently month to month and paying less than fair market rent....
Your opportunity to own a stabilized Triplex with professional property management in place. Laundry Room onsite for additional income. Good unit mix and covered car po...
All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. Copyright 2022 Arizona Regional Multiple Listing Service, Inc. All rights reserved.