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. Known for its gorgeous tree-lined streets, community parks, and true neighborhood charm, Oakwood-Lincoln Park offers an unmatched local lifestyle just minutes from the city's best breweries, restaurants, and downtown events. To fully appreciate the community spirit, neighborhood preservation efforts, and upcoming local events that make this area so highly sought-after, buyers are highly encouraged to visit the official neighborhood association website at https://oakwood-lincolnpark.org/.Situated on a premier corner lot just minutes from Downtown Knoxville, UT, and central hospitals, smart investors and primary buyers will instantly recognize this rare turnkey opportunity. Schedule your private showing!

Property Features

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