Find the newest home listings in Tempe, Arizona, today! As part of the Phoenix Metro Area, Tempe is a growing and thriving city with so much to offer. Tempe is an affordable option for those who want to live in a quiet city while being a short drive to the big city. The housing prices are some of the best in the area, and there are plenty of excellent job opportunities. Living in Arizona has significant perks, specifically the incredible weather. Those who love the outdoors can spend all their time going on hikes, swimming, fishing, playing in the parks, and so much more. If you love arts and culture, Tempe has plenty of people who are interested in the same. This pedestrian and transit-friendly community has so many wonderful things to do and see, and it’s no wonder that homeowners are thrilled about their new home. For more information on real estate for sale in Tempe, Arizona, schedule a showing, call us today, or send us an email.
Gearing up to buy or sell a home soon in Tempe? Call Group DiNenna at 843-560-9310. Your Triplex Homes Tempe realty team is here to help navigate the Tempe real estate market.
A triplex is a style of multi-family home that has three separate units. Typically, they look like townhomes, but there are only three units per building. Triplexes are gaining popularity as they are becoming a fantastic affordable housing option.
Triplexes are the least popular multi-family property style in Tempe, but there are options available for those who are specifically looking for a triplex. Triplexes in Tempe range in price from $150,000 to $1 million.
Tempe is a desirable city with plenty of friendly communities that residents love. There aren’t many places in Tempe you wouldn’t want to call home with amenities in every area and an overall welcoming and friendly atmosphere. Multi-family properties in Tempe tend to be located close to Arizona State University, so they are concentrated in the appealing neighborhoods of Jen Tilly, Maple-Ash, and Escalante. Jen Tilly and Maple-Ash are among the top communities in the city.
There are many reasons why people decide to purchase multi-family properties depending on their goals and circumstances. For those looking to purchase an investment property, triplexes are an excellent option. Three units generate a great deal of rental income and are the perfect introduction to real estate investing. Some homebuyers are looking for an affordable housing option. Multi-family homeowners typically end up living rent-free based on the rental income they will generate from the other two properties. Those owners who plan on living in one of the three units also qualify for better mortgage options. Another reason why buying a triplex is ideal is if you have family or friends who you want to live close by. Suppose you have parents who are aging or a unique family situation. In that case, it’s a great option to have additional private suites for rent. Regardless of your reasoning, purchasing a triplex is an excellent investment.
When it comes to financing your new home, you will likely need a loan to cover your sale. Buying a multi-family home is a bit different from purchasing a single property. It’s important to know what you qualify for before meeting with your lender. Depending on your plans with the property, a traditional mortgage may not be the best option for you and your financial health. There are three standard loans that you should know about before meeting with your lender.
Most of the time, buying a fourplex means that you intend on living in one of the units. When this is the case, you will qualify for an owner-occupant mortgage, which has many benefits that don’t come with a traditional mortgage. The FHA or Federal Housing Administration offers a loan that allows buyers to pay a lower down payment. The requirements are less strict, and they’re often privy to lower interest rates. This loan is an excellent option for those who qualify, so it’s essential to know about it.
A traditional mortgage is the only option for those who are purchasing a fourplex as an investment. If you’re planning on renting out all four units, that is a higher risk for banks, so the requirements are stricter. You will need to provide the bank with everything they need, have an excellent credit score, and the standard down payment amount. However, you can apply the rental income amounts towards qualifying for the loan.
The last option is specifically for current or former members of the U.S. Military. Veterans Affairs, or VA, offers an outstanding loan for those who have served our country. As long as you plan on living in one of the four units, you can purchase a fourplex without a down payment, without an excellent credit score, and you won’t be required to have private mortgage insurance. The VA loan is a fantastic option for those who qualify, and they should take advantage of it.
Choosing to work with professionals who are well-versed in fourplexes and multi-family properties is ideal so you can get the best mortgage for your situation.
is the best option to buy or sell your Tempe multi-family property. We are experts in the Phoenix Metro Area real estate market, and if you’re looking for an easy and seamless process, we are the team to call. We specialize in duplexes, triplexes, fourplexes, and other multi-family properties. With our clients’ goals and interests always at the forefront, we will always recommend The Cap Core Real Estate Group as our first choice for any purchase or sale. This incredible group of professionals is led by Patrick O’Sullivan, who is the former real estate advisor for U-Haul. Patrick has received many awards, including Agent of the Year and the CCMI (Certified Commercial Member Investment) designation, which shows his dedication to his clients. Working with Cap Core will definitely get you to your homeownership goals, and Patrick and his team are always up for any challenge.