525 E 4th St
Chattanooga, TN 37403
Milburn Apartments · Multifamily Property For Sale · 4 Units

: Located in Downtown Chattanooga this is the ultimate in urban living. The Historic Milburn Mansion was built in the early 1900's for CF Milburn who was the president- owner of the Chattanooga Wagon Company. The grand residence was built to make a lasting impression and it remains as one of the few original mansions still standing in the heart of the downtown area. Beautifully restored and masterfully redesigned into a large residence plus 3 additional rental units that generate $48,000 annually. The original concept during the renovation was to have the option of having as many as 5 residences within the house. The main residence which encompasses 4149 sqft with 4 bedrooms and 3.5 baths can easily be converted into two separate living quarters. More...Many of the original architectural details have been preserved and certainly capture the essence of the grand style that the Milburns wanted to reflect in their home. During the Van Cleve's ownership the main residence underwent extensive renovation and restoration including windows, flooring, lighting, bathrooms, a chef's kitchen, an added two car garage, and the outdoor living space is unsurpassed with a lush front lawn, large covered front porch, large open patio and a screened porch. This is a rare opportunity to own a piece of Chattanooga History that will exceed your expectation for Downtown Living. This property gives you the opportunity to live downtown in an amazing space and have income from 3 rentals. You will enjoy historic character with today's amenities, a private 2 car garage, and additional parking for guests, great outdoor living spaces, a wonderful fenced front lawn, walkability to fine dining, entertainment, outdoor recreation, the business district, Hospitals and UTC. . The top floor of the residence is a 2 bedroom 2 bath unit that is very spacious and the 2nd floor has two 1 bedroom apartments. The owners residence is 4 bedrooms 3.5 baths but can easily be 2 separate units - a grand 1 bedroom 1.5 unit on the main level and the terrace level would be 3 bedrooms 2 bath. So you could have a total of 5 units. Owner estimates when full leased that GMI would be $9,000.00 Lots of possibilities.