$2,795,000
Updated 4 days ago
1188 Gates Ave
Bushwick, Brooklyn | Bushwick Ave & Evergreen Ave
21 Rooms8 Beds5 Baths4,450 Square FeetMixed Use
$2,795,000
floors / apts3 / 4
Lot Size25'5"x101'1"
Built Size25'x50'
ZoneR6
Building TypeLow-Rise
RE Taxes$11,059
Price Per SF
$628
Building Amenities
- Courtyard
- Laundry Room
Property Description for 1188 Gates Ave
1188 Gates Avenue presents a rare mixed-use investment opportunity in Bushwick, Brooklyn, featuring 4 spacious free-market residential apartments and 2 ground-floor commercial storefronts.The residential component consists of four generously sized true two-bedroom apartments, each offering a practical layout with separate bedrooms, living space, kitchen with dining area, and full bathroom. The apartments feature traditional, functional layouts well suited to the Bushwick rental market.At street level are two commercial storefronts, generally approximately 650 square feet each, providing roughly 1,300 square feet of combined commercial space. Each storefront has its own half bathroom and dedicated cooling system, allowing for independent commercial use and flexibility for a variety of retail, service, or owner-user concepts, subject to applicable zoning and approvals.The three-story brick mixed-use property contains approximately 4,450 square feet of gross building area and combines four residential income streams with two commercial income streams.Additional features include an extra-large rear yard with ground-level access, an unfinished basement offering substantial storage and utility space, separate residential common areas, and direct street-level exposure for both commercial storefronts.The property offers meaningful value-add potential through future residential and commercial rental optimization, cosmetic improvements, enhanced common areas, and potential future utilization of the rear yard and basement. Illustrative concepts may include a boutique-style courtyard, recreation area, and shared laundry facilities, all subject to feasibility, permits, approvals, costs, and purchaser due diligence.The property may also appeal to investors seeking a potential Section 1031 exchange replacement property, depending on the purchaser's individual circumstances, intended use, and compliance with applicable tax requirements. Purchasers should consult their own tax and legal advisers regarding 1031 exchange eligibility.Ideally suited for an investor, owner-user, portfolio buyer, or purchaser seeking a Bushwick mixed-use investment property with four free-market apartments, two commercial storefronts, existing income, and additional upside potential.Select photographs have been virtually staged and/or digitally decluttered for presentation purposes. The basement is currently unfinished. Any depicted or described future improvements are conceptual only and are not existing improvements. All square footage, dimensions, legal use, zoning, tenancy information, income, expenses, future rents, improvement concepts, and investment projections should be independently verified by the purchaser.
Listing History for 1188 Gates Ave
Now
08/13/2026
$2,795,000
Initial Price by Kevin Hamilton
Online Realty Network
Launch
Building Details for 1188 Gates Ave
OwnershipMixed Use
Building TypeLow-Rise
AgePre-War
AccessWalk-up
Year Built1931
Floors/Apts3/4
Bushwick | Brooklyn
Quick Profile
As one of the most diverse neighborhoods in New York, Bushwick offers a perfect snapshot of just how multicultural the city is. Long-established as an amalgam of cultures and ethnicities, a wave of varying types of immigrants trickled in from the seventeenth to twentieth centuries, with Bushwick largely becoming a home to Hispanics of Puerto Rican and Dominican backgrounds by the latter part of the twentieth century.
With the Bushwick Initiative of the mid-00s that aided in revitalization, it became an attractive area to young professionals and artists. And even now, Bushwick has sustained affordable rent prices where other North Brooklyn counterparts, like Williamsburg and Greenpoint, have become more expensive. Priding itself on the weird and the wacky, numerous art collectives thrive in this part of Brooklyn, once famously named the seventh coolest neighborhood in the world by Vogue.
Though it has drawn in many tourists in recent years (there’s even a graffiti tour you can take from the Bushwick Collective), the neighborhood remains very much community-oriented, and has not been subject to quite the same sort of corporate infiltration phenomenon of its nearby Williamsburg environs.
But yes, of course, Bushwick has come a very long way from its 80s and 90s reputation as being “The Well,” a nickname given to it for its free-flowing and widely available amount of drugs (quantity over quality being the cliche applied here).
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 107699TH
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