Income-Producing Opportunity with Renovated ADU - Minutes from Downtown Knoxville
This versatile property offers a rare opportunity for both investors and house hackers with two income-producing living spaces on one lot. The main home features 3 bedrooms, 1 bathroom, and approximately 960 square feet of living space, while the property also includes a 480 square foot Additional Dwelling Unit (ADU)--perfect for generating additional rental income or accommodating guests.
The ADU was fully renovated in 2020 after being converted from a former garage and includes its own mini-split HVAC system, creating a comfortable and efficient standalone space. Previously, the main unit rented for $2,100 per month with utilities included, while the ADU generated $1,100 per month with utilities included, highlighting the strong income potential this property offers.
Located just minutes from downtown Knoxville, the University of Tennessee, and major commuter routes, this property provides both convenience and investment upside in a rapidly growing area. Whether you're looking to expand your rental portfolio or live in one unit while renting the other, this property delivers flexibility and opportunity.
Buyer to verify all information.
Property Features
Heating Information
Central
Electric
Cooling Information
Central Air
Water Features
Public
Parking
Off Street
Basement
Crawl Space
Fire Place
None
School Information
School Information for 1243 Iredell Ave, Knoxville, TN 37921