Renovated Triplex Apartment
3111 W SPRUCE STREET, Tampa, FL 33607
For Sale
$949,900
Three apartments offer private driveways, in-unit laundry, and updated kitchens with stainless steel appliances and granite countertops.
Property Size3,185 SF
Lot Size0.27 Acres
Price / SF$298.24
Days on Market49
Property Features for 3111 W SPRUCE STREET
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Occupancy
Site & Location
Neighborhood
Utilities to Site
Units
Unit Mix
Multifamily Units
Amenities
washer/dryer in unit
stainless steel appliances
granite countertops
smart lock
Building Details
Year Built
Year Renovated
Buildings
Listing Agency:
COASTAL PROPERTIES GROUP INTER
(813) 553-6869
Listed By:
Chris Campana · License #3393938
(813) 591-3113
Source:
Endlesssummerrealty
Added: Sep 22
Changed: Nov 8
Last Checked: Nov 8 at 6:16AM
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 COASTAL PROPERTIES GROUP INTER
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Investment Insights
Based on property information with market context.
This 3,185-square-foot triplex contains three apartments: a 3-bedroom, 2-bathroom unit, a 4-bedroom, 2-bathroom unit, and a 1-bedroom, 1-bathroom unit. Renovation work was completed in 2025, including remodeled interiors, new water heaters in each apartment, and updated roofing, gutters, impact-rated windows, and doors. HVAC equipment includes a new system in Apartment A, a mini-split in Apartment C, and a system in Apartment B that is 5–6 years old. Each residence has a washer and dryer, and its own driveway. Apartment C is furnished and has a smart lock.
The property occupies an 11,880-square-foot (.27-acre) corner lot in Tampa, near Macfarlane Park, West Tampa Little League, schools, grocery stores, and restaurants. There are 9 off-street parking spaces. Utility service includes 2 electrical meters, 2 water meters, well water, and public sewer.
The property occupies an 11,880-square-foot (.27-acre) corner lot in Tampa, near Macfarlane Park, West Tampa Little League, schools, grocery stores, and restaurants. There are 9 off-street parking spaces. Utility service includes 2 electrical meters, 2 water meters, well water, and public sewer.
Key Highlights
- Three apartments with a 3‑bedroom/2‑bathroom, 4‑bedroom/2‑bathroom, and 1‑bedroom/1‑bathroom unit mix
- 3,185 square feet on an 11,880‑square‑foot (.27‑acre) corner lot
- 2025 renovation included remodeled interiors, new roof and gutters, and impact windows and doors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,177
Cap Rate
3.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$743,540
$743.5K
Cap Rate 7%
$531,100
$531.1K
Cap Rate 9%
$413,078
$413.1K
Market Conditions
NOI Build-Up for 3,185 SF
Gross rent
$56.9K $17.88/SF
− Vacancy
−$3.8K −$1.21/SF
EGI
$53.1K $16.67/SF
− OpEx
−$15.9K −$5.00/SF
NOI
$37.2K $11.67/SF
Area
Tampa, FL
Vacancy
6.74%
Lease Rate
$17.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$743,540
Cap Rate 7%
$531,100
Cap Rate 9%
$413,078
Alternative Uses
Best Use
Multifamily LT 5
$531.1K
$464.7K – $619.6K
NOI $37,177 @ 7.0% cap · market cap 3.91%
Second Best
Apartment 5plus
$493.8K
$432.1K – $576.1K
NOI $34,565 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$742.0K
$649.3K – $865.7K
NOI $51,941 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,541
Businesses Nearby
Explore this area
Business Placement
Demographics for 33607, FL
24,767
Population
13,158
Households
1.9
Avg Household Size
37
Median Age
35%
College-Educated
87%
High-School Grad
9.3 sq mi
ZIP Area
2,663
Density / Sq Mi
$66,404
Median Household Income
$43,404
Median Earnings
$1,771
Median Rent
$316,100
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Tampa, FL
Properties on Market for Triplexes in Tampa
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments offer private driveways, in-unit laundry, and updated kitchens with stainless steel appliances and granite countertops.
Where is this triplex located?
The property is located at 3111 W SPRUCE STREET Tampa, FL.
What is the asking price?
The asking price for this property is $949,900.
What are key features of this property?
This property features: Three apartments with a 3‑bedroom/2‑bathroom, 4‑bedroom/2‑bathroom, and 1‑bedroom/1‑bathroom unit mix; 3,185 square feet on an 11,880‑square‑foot (.27‑acre) corner lot; 2025 renovation included remodeled interiors, new roof and gutters, and impact windows and doors
