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Telicia Harris

telicia@tcrjackson.com +1(731) 499-0123

Listed by: Kristen Londe Town and Country

$3,600,000

Est. payment - /mo

49,744 SqFt

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UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 49,744 sqft

Price per Sqft $72

MLS Listing ID 2605100

HOA Y/N false

Year Built 2003

Annual Tax Amount $23,391

Lot Size 5.410 Acres

Acres 5.41

Lot Dimensions 5.41 acres

Property Sub-Type Apartment

Source Central West Tennessee Association of REALTORS®

Property Description

Milan Luxury Apartments is a 48-unit multifamily community in Milan, Tennessee, in Gibson County north of Jackson. The property consists of six buildings with 32 two-bedroom/two-bath and 16 three-bedroom/two-bath units. Each unit features a full kitchen with electric range, dishwasher and refrigerator, a walk-in closet in the primary bedroom, and washer/dryer connections. Community amenities include a community room, on-site laundry facility, central mail center, playground and picnic area. The property exited the LIHTC program through the qualified contract process, and the three-year protection period has fully expired. With no remaining affordability restrictions, the property is available for market-rate leasing, giving a new owner full flexibility on rents and leasing strategy. Milan and Gibson County. The property is located less than one mile from West Tennessee Healthcare Milan Hospital. Local employers include Ceco Door, an ASSA ABLOY steel door manufacturer in Milan, and Tyson Foods' poultry complex in nearby Humboldt, the largest corporate investment in Gibson County's history. US Highway 45E connects Milan directly to Jackson, the region's hub for jobs, healthcare, shopping and services. Major Jackson employers include Delta Faucet's largest facility, the Pringles plant and West Tennessee Healthcare's flagship hospital. Milan Luxury Apartments' two- and three-bedroom floor plans suit that workforce. Investment Outlook. Milan Luxury Apartments offers an established multifamily asset, free of affordability restrictions, in a stable West Tennessee market with direct access to Jackson. Its unit mix, community amenities and flexibility on rents position it well for long-term ownership.

Location

State TN

County Gibson

Area 5.41

Direction Starting from Town and Country Realtors located at 1944 Hwy 45 Bypass, head north toward Three Way. Take US-45E North through Medina into Milan. Continue toward Reasons Blvd and turn onto Reasons Blvd to reach 4051 Reasons Blvd, Milan, TN.

Interior

Interior Features Ceiling Fan(s), Laminate Counters, Tub Shower Combo

Heating Central

Cooling Central Air

Flooring Carpet, Vinyl

Window Features Aluminum Frames,Vinyl Frames

Heat Source Central

Laundry Electric Dryer Hookup, Laundry Room, Washer Hookup, Other

Exterior

Exterior Feature Playground

Parking Features Open

Community Features Other, See Remarks

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Street Surface Asphalt

Road Frontage City Street

Building

Lot Description Cul-De-Sac, Level

Story 2

Entry Level Two

Foundation Slab

Sewer Public Sewer

Water Public

Level or Stories 2

Structure Type Brick,Vinyl Siding

Schools

Elementary Schools Milan School District

High Schools Milan School District

Others

Tax ID 140G C 028.02

Special Listing Condition Standard

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Telicia Harris

+1(731) 499-0123

Agent TN 373133

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4051 Reasons BLVD Milan, TN 38358

Telicia Harris

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby Locations

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