Cap'n Kobold
Hero
Would this suffice?
"When you become attuned to or wield Karakan, you must make a Charisma saving throw against a DC of 12 + the number of days it has gone unfed. If you fail, you become overcome by bloodlust, and must attack the nearest creature each turn. You can end the bloodlust by bathing the blade in blood as an action."
So if you pick it up out of an old hoard for example, the first time that you take a swing with it, you'll probably need to make a Charisma save with a DC of several hundred thousand?
Does the wielder automatically know how to stop the bloodlust? Or only when attuned?
What are the mechanics of "bathing" the blade in blood? Do you need an incapacitated or dead foe? How much damage do you take if you choose to use your own?
Functionally, Heavy on a one-handed weapon is worth the +2 AC. That's pretty close to balancing with a +3 to it and damage: moreso when you take the +d6 damage into account.
When balancing weapons, you need to take into account who will be using it. Granting Heavy to a longsword isn't locking out Dex and sneak attack because someone who uses sneak attack/Dex/is small wouldn't be using it. You balance it based upon someone who can use it to advantage unless you know that the group to whom you are giving it to won't have anyone in it who can.
(Just consider how nasty this weapon would be after a warrior-type has it and builds around it. Combining GWM, +2 AC and Shield Master for example.)