$10,000 Closing Credit¹
#RLS11030991, Joseph Dima, Listing Office: Corcoran Group
$1,495,000 List price
197 Gates Ave Brooklyn, NY 11238
$10,000
Closing credit¹
0 beds
4,048 sqft
$369 / sqft
Multi-Family
Property details
About 197 Gates Ave
Remarkable, newly listed four-family townhouse in Clinton Hill is a fantastic investment opportunity for you! Currently occupied by paying tenants. Featuring: 4 units consisting of 2-three bedroom one bathroom apartments and 2-two bedroom one bathroom apartments that each occupy the entire floor, high ceilings, large windows, hardwood floors, a large backyard and a cellar for extra storage. Well-maintained in great condition, this property offers a unique blend of comfort and investment potential. It also comes with a J-51 tax abatement up to 2041. 22ft X 40ft. 4,048 sq ft Tenants are rent stabilized for the duration of the tax abatement. Property will not be delivered vacant The prime location offers excellent accessibility, with the G train at Classon Avenue and the C train at Clinton-Washington Avenue. Nearby, you’ll find Pratt Institute, St. Joseph’s College, and Long Island University, as well as cultural attractions like the Museum of Contemporary African Diasporan Arts, the Brooklyn Museum, and the Brooklyn Children’s Museum. Foodies will love the local dining scene with favorites like Clementine Bakery, Hart’s Mediterranean, Rustik Tavern, Sisters Restaurant, Olea, and Aita. Plus a plethora of entertainment and shopping options makes this neighborhood a vibrant place to live.
Highlights
Home typeQuadruplex
HeatingNatural Gas, Hot Water
StatusActive
Size4,048 sqft
Year built1899
ParkingOn Street
MLS #L3592074
Summary
- MLS Number: L3592074
- MLS Name: ONEKEY2
- Office Name: Peace of Mind Realty
- Office Phone: (347) 221-0100
Listings courtesy of OneKey MLS as distributed by MLS GRID.
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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the OneKey™ MLS. Real Estate listings held by brokerage firms other than this broker are marked with the Broker Reciprocity logo and detailed information about them includes the name of the listing brokers. This information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
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Last updated on: 3/14/2025, 11:56:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$1,495,000
197 Gates Ave
$10,000
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $704,700 | $2,957 |
| 2023 | $606,150 | $3,117 |
| 2021 | $566,100 | $- |
| 2019 | $619,200 | $- |
| 2018 | $75,562 | $2,979 |
| 2017 | $69,966 | $3,544 |
History based on county public records data.
Nearby schools
5
P.S. 56 Lewis H. Latimer School
Public District KG-6
0.1 mi
•170 Gates Ave
4
P.S. 3 The Bedford VillageSchool
Public District KG-5
0.3 mi
•50 Jefferson Ave
9
P.S. 11 Purvis J. Behan School
Public District PK-5
0.3 mi
•419 Waverly Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $81,149. Residents of Brooklyn, NY typically earn less than $<35k each year. Most families are single, no kids. The most common level of education of people living in this area is post secondary degree.
How much money do the neighbors make?
34%
<35k
32%
35k-100k
27%
100k-200k
7%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
Doctorate
What types of families live nearby?
63%
Single, No Kids
14%
Single, with Kids
12%
Married, No Kids
11%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
12%
<11 yrs old
4%
12-17 yrs old
39%
18-34 yrs old
39%
35-64 yrs old
6%
65+ yrs old
What do the neighbors do for fun?
Music Concerts
Tennis
Hiking/backpacking
Where do the neighbors shop?
H&M
Crate & Barrel
Bloomingdales
Where do the neighbors go to eat?
Chipotle
Starbucks
Jack In The Box
What do the neighbors drive?
Volkswagen
BMW
Audi
What do the neighbors listen to?
Rhythmic Contemporary Hits
News- Alternative
All data provided by Home Junction and Claritas
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This home is located at 197 Gates Ave in Brooklyn, NY and zip code 11238 in the Northwestern Brooklyn neighborhood. This 4,048 square foot home was built in 1899. Features: 0 bedroom, 0 bathroom. It has been listed on Rocket Homes since November 19, 2024 and is currently priced at $1,495,000.
In February 2025, from all listings sold in Brooklyn, NY there were more than 41 sold above asking price, over 158 sold below and more than 162 were sold right at the asked price. The number of listings in Brooklyn, NY decreased by 3% between January and February 2025. The median list price of listings available in February 2025 was $995,000, while the average time on the real estate market was 132 days.
From Rocket Homes Real Estate and based on county public records data.