Description

Income-Producing Luxury Compound in The Heart of 12 South -- Live, Rent, Expand or STR possible with owner occupation. Rare opportunity in prime 12 South to own all homes at 1209 Dallas Ave (two homes and one apartment). 1209A is a three-bedroom, two-and-a-half bathroom with two car garage. Long-term comps $11,000/month, Mid-term $15,000+ (niche mid-term opportunity as not many options in 12 South). 1209A offers separate full one-bedroom/one bathroom apartment over the garage, long-term comps at $2,200-$2,700/month, mid-term and STR also. 1209B the two-bedroom/one-and-a-half bathroom has been rented as a mid-term fully furnished corporate rental. Currently rented for $8,930/mo gross through August 6, 2025. Approved 1,700 square foot addition in the rear of 1209B. This is not just a rental property, it's a luxury lifestyle asset, a multigenerational opportunity with cash-flow, long-term passive income -- true lifestyle unicorn in the heart of 12 South! Projected $265K-$300K+ annually (long-term and mid-term blended). All units are fully renovated, all hardwoods, modern systems, vaulted ceilings, fireplaces, exposed brick, private courtyard oasis. Perfect for: owner-occupants wanting to offset lifestyle with rental income, investors seeking stable long or mid-term returns with STR potential, multigenerational living, value-add buyers with vision -- development opportunity and great for 1031 exchange buyers. Live in one home while your others cover your lifestyle. Or rent all three and enjoy passive income in a red-hot, unbeatable location. Walk to Sevier Park, all shopping and restaurants in 12 South. Showings by appointment only. Buyer to verify all information.