Updated Brick
For Sale
$1,325,000
1420 Leland Ave The, Bronx, NY 10460
Four apartment layouts include private first-floor entrances and a separate full walk-out basement.
Property Size3,172 SF
Days on Market78
Property Features for 1420 Leland Ave The
General Information
Standard status
Active
Size
3,172 SF
Property subtype
Investment
Site & Location
Road Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 3BR, 1 x 2BR
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$16,750
Amenities
shared laundry
yard
Building Details
Building Size
3,172 SF
Year Built
1924
Buildings
1
Units
4
Construction
brick
Listing Agency:
eXp Realty
(917) 599-8976
Listed By:
Manuel Galan
(917) 599-8976
Source:
Elliman
Added: Jun 15
Changed: Aug 30
Last Checked: Aug 30 at 4:46PM
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 eXp Realty
Investment Insights
Based on property information with market context.
This 1924 brick quadplex contains four apartments: three three-bedroom units and one two-bedroom unit. The first-floor residences have individual entrances, while a full walk-out basement provides a separate entry and space for storage or shared laundry. The two-bedroom apartment will be delivered vacant.
Outdoor features include a sizable rear yard and shared-driveway parking for at least two vehicles. The property is located at 1420 Leland Ave in The Bronx, NY 10460, with a Walk Score of 95, Transit Score of 93, and Bike Score of 51. The combination of varied apartment layouts, separate entrances, basement utility, and established brick construction creates a practical multifamily configuration.
Outdoor features include a sizable rear yard and shared-driveway parking for at least two vehicles. The property is located at 1420 Leland Ave in The Bronx, NY 10460, with a Walk Score of 95, Transit Score of 93, and Bike Score of 51. The combination of varied apartment layouts, separate entrances, basement utility, and established brick construction creates a practical multifamily configuration.
Key Highlights
- Four‑unit configuration with three 3‑bedroom apartments and one 2‑bedroom apartment
- Two‑bedroom unit delivered vacant
- Full walk‑out basement with separate entrance
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$80,574
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,611,480
$1.6M
Cap Rate 7%
$1,151,057
$1.2M
Cap Rate 9%
$895,267
$895.3K
Market Conditions
NOI Build-Up for 3,172 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$121.8K $38.40/SF
− Vacancy
−$6.7K −$2.11/SF
EGI
$115.1K $36.29/SF
− OpEx
−$34.5K −$10.89/SF
NOI
$80.6K $25.40/SF
Area
Bronx, NY
Vacancy
5.50%
Lease Rate
$38.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,611,480
Cap Rate 7%
$1,151,057
Cap Rate 9%
$895,267
Alternative Uses
Best Use
Multifamily LT 5
$1.15M
$1.01M – $1.34M
NOI $80,574 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$1.04M
$912.1K – $1.22M
NOI $72,968 @ 7.0% cap · market cap 5.51%
Theoretical Best
Warehouse
$2.20M
$1.92M – $2.56M
NOI $153,858 @ 7.0% cap · market cap 11.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,425
Businesses Nearby
Explore this area
Business Placement
Demographics for 10460, NY
62,625
Population
24,085
Households
2.6
Avg Household Size
34
Median Age
15%
College-Educated
71%
High-School Grad
1.5 sq mi
ZIP Area
41,750
Density / Sq Mi
$36,067
Median Household Income
$31,283
Median Earnings
$1,332
Median Rent
$589,300
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four apartment layouts include private first-floor entrances and a separate full walk-out basement.
Where is this quadplex located?
The property is located at 1420 Leland Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Four‑unit configuration with three 3‑bedroom apartments and one 2‑bedroom apartment; Two‑bedroom unit delivered vacant; Full walk‑out basement with separate entrance
