Welcome to 1416 Parkwood Avenue in the heart of Plaza Midwood! This beautifully renovated bungalow offers the rare combination of historic charm, modern updates, and a fully equipped income-producing ADU! Located in one of Charlotte's most desirable neighborhoods, you'll enjoy exceptional walkability to local breweries, coffee shops, restaurants, greenway access, the light rail, and Uptown. Inside, the open and inviting floor plan showcases refinished original hardwood floors, spacious living and dining areas, and thoughtfully updated finishes throughout. The split-bedroom layout provides privacy, while the expansive primary suite serves as a true retreat with an oversized walk-in closet and a spa-inspired bath featuring a large walk-in shower and designer finishes. The kitchen is designed for both everyday living and entertaining, featuring a gas range, semi-custom cabinetry, a large quartz island, and stylish modern selections. Its seamless connection to the living and dining spaces creates an ideal setting for hosting family and friends. Adding tremendous value and flexibility, the detached accessory dwelling unit (ADU) includes a bedroom, full bath, kitchen, and living area, currently being leased at $1,250/month. Whether used as a long-term rental, short-term rental, guest suite, home office, gym, art studio, or multigenerational living space, the possibilities are endless. With no HOA and no short-term rental restrictions, you have the freedom to live, invest, or host as you choose. Additional updates include a new Roof, HVAC, Plumbing, Electrical, and Windows, installed in 2019. Bonus: Qualified buyers who use the seller's preferred lender may receive up to $10,000 in lender-paid credits, which can be applied toward closing costs or an interest rate buy-down. This is a rare opportunity to own a move-in-ready home with income potential in one of Charlotte's most vibrant and sought-after neighborhoods. Reference to Multi-Family Listing MLS# 4420784.