1516 Reed St, Philadelphia, PA 19146

Great investment opportunity in the heart of Newbold!! Well-maintained corner duplex with commercial store front. First floor includes: attached garage (not legalized, though curb is cut), efficiency unit with full bathroom and large eat-in kitchen, and a commercial storefront (barber shop) with powder room. Second floor is 2-bed unit with spacious eat-in kitchen with access to deck above garage, large living room with closet, full bathroom, and 2 decent-sized bedrooms. Large basement with separate storage room and separate utilities. 1 electric meter for each unit, plus a separate house meter for common areas. 2 gas heaters for residential units; 1 electric heater for store. Fire alarm system. Could easily rent for more than long-term tenants are paying. Building can be vacant prior to settlement, tenants are currently month-to-month. Solid structure; needs updating. 1.5 blocks from the Broad street line, Ellsworth/Federal and Tasker/Morris stops. On a SEPTA bus route street. Prime location, rare opportunity! Come see this before it's too late!! NOTE: According to L & I communication on 10/28/16: The property is currently legally zoned as a duplex in RSA-5 zone, with a variance for a single unit barber shop on the first floor and a single-family dwelling on the second floor (see permit attached with seller's property disclosure, #7787, Cal. No. 8491). The garage was never legalized, therefore a variance would need to be applied for and granted in order to operate it as a garage, as well as to legally change this to a 3 family dwelling. The price has just been reduced to reflect these discoveries.