triplex

Definition

A three-unit residential property where three separate families live their best lives under one roof (sort of). Each unit is independently owned or leased, making it the Goldilocks of multi-family real estate—not as simple as a duplex, not as complex as a four-unit.

Example Usage

They invested in a triplex on Oak Street, collecting rent from three different tenants.

Source: Real Estate Industry Standard Definition

Related Terms

Intermediate

per door

A valuation metric for multifamily properties calculated by dividing price by number of units, because apparently 'per unit' wasn't jargony enough. It's the real estate equivalent of price per ounce.

🏠 Real Estate

Intermediate

percentage rent

Additional rent paid by retail tenants based on a percentage of their gross sales above a threshold, common in shopping centers. It's the landlord's way of ensuring they profit from your business success while you bear all the risk.

🏠 Real Estate

Intermediate

shoe leather research

Old-school market analysis conducted by physically walking neighborhoods, talking to locals, and observing street-level details that data can't capture. It's what investors did before algorithms tried to tell us everything.

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Advanced

trigger terms

Specific financing words in advertising (like 'only $500 down') that legally require full disclosure of all loan terms under TILA regulations. It's why some real estate ads read like pharmaceutical disclaimers.

🏠 Real Estate

Advanced

plottage

The increased value created when adjacent properties are combined into a larger, more useful parcel. It's the financial proof that sometimes the whole really is worth more than the sum of its parts.

🏠 Real Estate

Advanced

highest and best use

The most profitable legal use of a property that's physically possible and financially feasible. It's why your residential lot might be worth more to a developer than your emotional attachment suggests.

🏠 Real Estate

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