3-Unit
New
For Sale
$515,000
1240 SYLVIA Avenue, Spring Hill, FL 34606
Residential Income, SPRING HILL, FL
Property Size2,574 SF
Lot Size0.29 Acres
Price / SF$200.08
Days on Market2
Property Features for 1240 SYLVIA Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
PDP(MF)
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 6, Bedroom 3, Bathroom 2, Bedroom 5, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 3
Interior features
Ceiling Fans(s), Eat-in Kitchen, Primary Bedroom Main Floor
Appliances
Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
Subdivision
SPRING HILL
Elementary school
Deltona Elementary
Middle school
Fox Chapel Middle School
High school
Weeki Wachee High School
Directions
Spring Hill Drive to North on Sylvia Ave, Triplex is on the right.
Standard status
Active
APN
R32-323-17-5030-0148-0050
Size
2,574 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
SPRING HILL UNIT 3 BLK 148 LOT 5
Tax Annual Amount
6105
Legal Description
SPRING HILL UNIT 3 BLK 148 LOT 5
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Amenities
in-unit washer/dryer
Building Details
Year built
2003
Floors in Building
1
Number of units
3
Flooring type
Vinyl
Building materials
Block, Stucco
Roof type
Shingle
Listing Agency:
KW REALTY ELITE PARTNERS · Keller Williams Realty
(352) 688-6500
Listed By:
Sean Bradley
(352) 293-6089
Added: Oct 20
Changed: Oct 21
Last Checked: Oct 21 at 8:06AM
MLS# W7890471
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 2,574-square-foot triplex contains three residences, each with two bedrooms, one bathroom, a kitchen, and interior laundry. Stackable washer-and-dryer sets are included in every unit. Recent interior work includes fresh paint, new flooring, and replacement toilets and showers. The property sits on a 0.29-acre lot and is zoned PDP(MF).
Each residence has room for parking. Shopping, a pharmacy, and a bus stop are nearby in Spring Hill.
Each residence has room for parking. Shopping, a pharmacy, and a bus stop are nearby in Spring Hill.
Key Highlights
- Three tenant‑occupied units, each with 2 bedrooms and 1 bathroom
- 2,574 square feet across the triplex
- 0.29‑acre lot zoned PDP(MF)
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.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence has in-unit laundry, and all three are occupied by tenants.
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 tenant‑occupied units, each with 2 bedrooms and 1 bathroom; 2,574 square feet across the triplex; 0.29‑acre lot zoned PDP(MF)
