Property Description

RARE ADDITIONAL INCOME IN HISTORIC OAKWOOD / LINCOLN PARK! Welcome to 602 Watauga Avenue--a masterfully revitalized, turn-of-the-century property that perfectly marries historic architectural romance with a high-yielding, modern investment strategy. Originally built in 1899, this incredible dual-structure compound has been meticulously brought into 2026 with an array of major, top-tier capital improvements.The Main Residence (3 BR / 2 BA Potential):Step inside to experience soaring ceilings, crisp modern paint tones, and beautifully preserved original 1899 hardwood floors glowing with history. The spacious layout currently features 3 bedrooms and 1 fully remodeled bath, plus a second bathroom that is prepped, framed, and ready for the new owners to custom-renovate to their exact taste! The heart of the home features a spectacular formal dining room draped in sophisticated royal blue with crown molding, transitioning seamlessly into an updated kitchen space. Retreat to the primary bedroom suite where a gorgeous, exposed-brick fireplace mantel serves as an unforgettable historic focal point.Tucked privately in the level backyard sits a fully permitted, completely detached 1-Bedroom, 1-Bathroom Accessory Dwelling Unit (ADU). Completely remodeled with its own private covered porch and independent utility/HVAC systems, this turnkey unit is currently leased to a long-term tenant for a steady $1,250/month ($15,000/year) in guaranteed income. Live in the main house and let the tenant offset your monthly housing expenses, use it as a multi-generational estate, or capitalize on massive short-term rental upside!!Peace of Mind Upgrades Include:roof & gutters, Central HVAC system & ductwork,Fully updated electrical system, Plumbing & New main sewer line.Experience the Oakwood-Lincoln Park Lifestyle:Beyond the gates of this beautiful property lies one of North Knoxville's most vibrant, active, and welcoming communities.

Property Features

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