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1237 Leland Avenue #MULTI
About This Property
1327 Leland Ave presents a rare investment opportunity in the Bronx. This vacant home sits on a generous lot with an adjoining empty parcel, offering exceptional potential for redevelopment or expansion. The property is in need of a full gut renovation, making it ideal for investors, developers, or buyers looking to create a custom multi-family residence.
Home is currently set up as a 2 family and an equally sized empty lot, the possibilities are endless-whether building modern rental units, a single-family estate, or a combination of both. Conveniently located near local transportation, shopping, and dining options, this property offers both accessibility and upside potential in a vibrant Bronx neighborhood. Total frontage of 50 feet or 25 feet per lot.
Don't miss your chance to turn this diamond in the rough into a premier investment property.
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jul 10, 2026 | Sold | ||
| Sold | |||
| Nov 6, 2025 | In contract | - | |
| In contract | |||
| Oct 16, 2025 | Listed by Bizzarro Agency LLC | $999,000 | |
| Listed by Bizzarro Agency LLC | |||
Property Highlights
Comparables
Status
Price/ft²
Listed On
Sold On
Past Sales
| Date | Unit | Beds | Baths | Sqft | Price | Closed | Listed By |
|---|---|---|---|---|---|---|---|
|
10/16/2025
|
6 Bed
|
3 Bath
|
-
|
$999,000
6 Bed
3 Bath
|
$1,100,000
+10.11%
07/10/2026
|
Thomas Rainey
Bizzarro Agency LLC
|
Building Info
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017