trilevels - Can't give them away?

Question

Trilevels are not popular and I know a couple sitting right now that are in perfect shape.  Brokers say they won't heat and cool...good realtors with lots of experience say you can't give them away.

What do you think?  Great for a lowball?

Account Closed · Answer

It depends on the price.

They certainly will heat and cool, if you insulate, ventilate correctly and put some doors at the top of the stairs. Tenants should be paying for all their utilities, anyway, and if they aren't you'd separate utilities first thing.

Nobody likes going up and down the stairs. I would see what price to put in a dumb waiter so that at a minimum, groceries would not have to be carried up 3 flights. Rents would have to be low.

Or you could custom market to the health nuts. Stairs are excellent exercise. Is there a basement for a weight room?

I don't know how much an elevator costs (they don't look all that expensive), but I'm sure it wouldn't pay in a cheap rental. In a better neighborhood it might. Again, a lot depends on what you can buy the building for.

Brice C. · Answer

Buy real low sell low always works on everything. There are places there that have sold ....what did they sell for....reduce by how much you want plus a margin for error and offer on it.

Account Closed · Answer

Kind of like split levels, these are not the most sought after floor plans. But, like the big boxy splits, they can appeal to large families who need alot of SF for the price.

Kathy Potter · Answer

Trilevels are a slow mover in the Phoenix area too. Floorplans are usually too chopped up.  Plus the stairs are a hassle. I make it a practice to never buy something no one else wants. I would stay away from them.

Timothy W. · Answer

Tri levels are tricky to heat/cool properly.  Best thing you can do is zone hvac with 2 smaller furnace and ac units heating the top and bottom on seperate thermostats rather than 1 big unit doing the entire house and getting in the most energy efficient windows you can get.  Check the attic and wall insulation too.

Vectori Disuja · Answer

Hi 
You have done a good question, it’s really interesting. If you get any good reply, so please let me know. So I’ll also get some good idea. 
Thanks for your future help.

Lynn Z · Answer

Well, those houses I referred to in early June are still sitting and dropping their prices and other, larger homes in the same immediate area are on the market for $95/sq. ft.    The area never has appreciated like the adjacent neighborhoods.   I plan to call my HVAC guy and ask him what it takes to heat and cool a triplex or if he sees no problem with cooling and heating them.

Mark McGlothlin · Answer

We did a couple of hillside trilevels in Salt Lake City about a decade ago, and the dumbwaiter believe it or not was a key feature for both.  For what it's worth (nothing really) we turned both to younger couples....

Lynn Z · Answer

Kitchen is next to the carport on main level.  Bedrooms are all up.  There is a wonderful pine paneled den weight room on the lower level  that looks over a private pond with a view from the kitchen, foyer,  one bedroom and 
lower floor den.  Neighborhood comps are around $95/sq. ft.-- in a good neighborhood.   Renting houses is so competative here.  Might be able to get $1100-1350 for 3 grad students etc. $1000 for a couple.  Brick and in excellent condition.  1800 sq. ft. Recently they dropped the price to $180's
I was thinking of starting at $110k cash if I got serious about it.

I knew a young guy who bought a trilevel (4/2) in an upscale neighbhorhood. He collapsed one of the bedrooms to 3/3 and made a master.   It's not selling right now but then nothing is but that house has turned at least twice and is in the $300k's.

Mark N.A · Answer

Add to that people who don't like going up and down stairs.

But...  at the _right_ price you could charge rent that no one could turn down, or sell at a price no one could turn down, or do a lease option that no one could turn down.