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602 Watauga AveKnoxville, TN 37917
RARE INCOME COMPOUND 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. The Detached Cash-Cow ADU: 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 pay your mortgage, 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. 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.
| 4 hours ago | Listing first seen on site | |
| 4 hours ago | Listing updated with changes from the MLS® |
Listings courtesy of Realtracs as distributed by MLS GRID
Based on information submitted to the MLS GRID as of 2026-05-22 07:12 PM UTC. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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