316 Reed St, Philadelphia, PA 19147

Are you looking for your next rehab project or a property that you can turn into your own spacious home? This five bedroom property, built in 1915, needs rehab throughout and provides many options to make this a top of the line home. After walking up the marble steps the entrance foyer lends itself to a classic look with the existing details. The first thing that you will notice upon stepping into the living room is the very high ceiling, which can be leveraged for a classic or modern spacious appearance. This is a feature that continues throughout the house. A fireplace is located on the outer wall allowing for the ability to create a focal point in the room. Next on the first floor is the dedicated dining room that leads into the large kitchen space where an extraordinary kitchen can be created. Finishing out the first floor is the laundry room leading to the back yard. Up the stairs to the second floor are three roomy bedrooms and the full bathroom. Lots of space on this floor to create beautiful bedrooms and an outstanding bathroom. Once again, high ceilings to work with on this floor. Moving up to the third floor the stair railings can be preserved to maintain the original charm. Bedrooms 4 and 5 are at this level and provide the opportunity to create a main bedroom suite by taking advantage of the fact the bedroom 4 is immediately above the 2nd floor bathroom and can be converted into a second large bathroom. There is enough space with the two rooms to create a walk-in closet for the bedroom and still have a significantly sized bathroom dedicated to that bedroom. The back yard for this house is large and can easily be made into an oasis within the city. This also gives room for expansion of the house if desired and still leave plenty of backyard room. Finally, the basement has plenty of headroom if a finished basement is in the plans. All mechanicals are in good condition for this property and the structure is solid. Alternative uses include creating a duplex or triplex, with a variance. This home is located on a street and in a neighborhood with plenty of new construction and rehabbed properties. There are ample restaurants and coffee shops. Just four blocks away is Dickinson Square Park. Just as close in the opposite direction is Jefferson Square Park. Rehabbed comparables are of significant ARV, check them out. Come see this property while it is still available and can be converted by the upcoming spring market.