The 7 Lakers of Nathaniel "Tac" Padilla and Mayor Florante "Boy" Aquino scored six consecutive points to wiggle out of a 66-66 tie and lead for good, 72-66, with 3:53 remaining.
"It feels good to win the title in front of the home crowd," said Spring-SP coach Mike Buendia.
Rodel Manuel, who was eventually named MVP of the tourney sponsored by Sulpicio Lines and hosted by Aquino, led Spring-SP with 21 points.
UA-Pampangas Pelicans whipped Sulpicio Lines-Cagayan de Oro, 96-80, in the other game to finish third.
Spring-SPs Robin Mendoza, Adamsons Mark Abadia and Ken Bono and Pampangas Dave Bautista joined Manuel in the Mythical Five.
In the side events, CdOs Jester Adams won the one-on-one contest, Spring-SPs Jonathan Serrano emerged 3-point king and Pampangas Alex Bognot bagged the slamdunk title.