Why Buy a Triplex in Vancouver?

  • It seems more and more people are looking to find creative ways to own a home in Vancouver. One great strategy we recommend is to buy a Triplex – a house containing three suites. Better than a condo, you will have renters contributing to your equity growth. And better than a house with a basement suite, the triplex offers two self contained units to rent out.  

    Currently, we have a really great Main St. Triplex for sale for $1,498,000 and here are the numbers: The top suite is currently rented for $1300/month, the main floor rents for $2025 and the basement rents for $1000 for a total of $4,325 a month.  If you can scrape together 20% for a down payment, your mortgage payment would be approximately $5,690. Depending on which suite you choose to live in, your “rent” could be as low as $2,365 per month – not bad for owning a house in Vancouver, and without the pesky condo strata councils or the annoying neighbours!  And this one is in a prime location – you can find triplexes in East Vancouver starting as low as $900,000. Triplex living has a few other advantages too. Typically, they are in higher density neighbourhoods that have shopping restaurants and other amenities within walking distance, providing a fun urban lifestyle. You can choose your neighbours through the rental screening process. You can offer up some of the yard space for your tenants to garden and reducing your outdoor chores, while still enjoying a house-like yard. If buying a triplex in Vancouver sounds interesting stay tuned for the next Open House, or call us at (604) 265-5582 to schedule a Private Viewing.