Updated Triplex with
For Sale
$515,000
1240 SYLVIA AVENUE, Spring Hill, FL 34606
Three occupied apartments provide two-bedroom layouts, in-unit laundry, and parking at each unit.
Property Size2,574 SF
Price / SF$200.08
Days on Market12
Property Features for 1240 SYLVIA AVENUE
General Information
Standard status
Active
Size
2,574 SF
Property subtype
Triplex
Occupancy
100%
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Tenant in Place
Yes
Amenities
stackable washer/dryer
0.29 acres
Shingle
Public Sewer
Additional parcels description:, Parcel Number: R32-323-17-5030-0148-0050, Public Survey Range: 17, Public Survey Section: 27, Annual Amount: $6,105, Tax Block: 148, Tax Book Number: 7-80, Legal Description: SPRING HILL UNIT 3 BLK 148 LOT 5, Lot: 5, Year: 2024, Zoning: PDP(MF)
Luxury Vinyl
Gross Income: $46,200
Central Air
Central
Inside, Laundry Closet
Listing ID: MFRW7890471, Standard Status: Active, MLS Status: Active, Property Subtype: Triplex, On market as of 2026-10-20, 2 days on market, Special Conditions: None
Elementary School: Deltona Elementary, Middle School: Fox Chapel Middle School, High School: Weeki Wachee High School
6 total bedrooms
Built in 2003, Living area: 2574, Living area units: Square Feet, Levels: One, Construction Materials: Block, Stucco
Subdivision: SPRING HILL, MLS Area (Major): 34606 - Spring Hill/Brooksville/Weeki Wachee, County/Parish: Hernando
3 total bathrooms
BB/HS Internet Available, Cable Available, Electricity Connected, Phone Available, Water Source: Public
Slab
Close Of Escrow
Electricity, Water
Road Surface: Paved
Ceiling Fans(s), Eat-in Kitchen, Primary Bedroom Main Floor
Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
Building Details
Year Built
2003
Listing Agency:
KW REALTY ELITE PARTNERS
(352) 688-6500
Listed By:
Sean Bradley · License #3346797
(352) 293-6089
Source:
Miharaandassociates
Added: Oct 20
Changed: Oct 29
Last Checked: Oct 30 at 3:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KW REALTY ELITE PARTNERS
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Investment Insights
Based on property information with market context.
This 2003 triplex contains 2,574 square feet across three units. Each apartment has two bedrooms, one bathroom, a kitchen, and interior laundry. Stackable washer and dryer sets are included in all three units. Recent work includes fresh paint, new flooring, and replacement toilets and showers.
Parking is available at each unit. The property is in Spring Hill, near shopping, a pharmacy, and a bus stop.
Parking is available at each unit. The property is in Spring Hill, near shopping, a pharmacy, and a bus stop.
Key Highlights
- Three units, each with 2 bedrooms and 1 bathroom
- 2,574‑square‑foot triplex built in 2003
- Stackable washer and dryer included in every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,313
Cap Rate
5.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$586,260
$586.3K
Cap Rate 7%
$418,757
$418.8K
Cap Rate 9%
$325,700
$325.7K
Market Conditions
NOI Build-Up for 2,574 SF
Gross rent
$44.8K $17.40/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$41.9K $16.27/SF
− OpEx
−$12.6K −$4.88/SF
NOI
$29.3K $11.39/SF
Area
Spring Hill, FL
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$586,260
Cap Rate 7%
$418,757
Cap Rate 9%
$325,700
Alternative Uses
Best Use
Multifamily LT 5
$418.8K
$366.4K – $488.6K
NOI $29,313 @ 7.0% cap · market cap 5.69%
Second Best
Apartment 5plus
$388.6K
$340.1K – $453.4K
NOI $27,205 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$823.0K
$720.1K – $960.1K
NOI $57,607 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
344
Businesses Nearby
Explore this area
Business Placement
Demographics for 34606, FL
28,548
Population
14,009
Households
2
Avg Household Size
53
Median Age
20%
College-Educated
89%
High-School Grad
11.6 sq mi
ZIP Area
2,461
Density / Sq Mi
$54,730
Median Household Income
$33,778
Median Earnings
$1,192
Median Rent
$227,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied apartments provide two-bedroom layouts, in-unit laundry, and parking at each unit.
Where is this triplex located?
The property is located at 1240 SYLVIA AVENUE Spring Hill, FL.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Three units, each with 2 bedrooms and 1 bathroom; 2,574‑square‑foot triplex built in 2003; Stackable washer and dryer included in every unit
