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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 ...
+ Read More| MLS #: | 2605100 |
|---|---|
| List Price: | $3,600,000 |
| Property Type: | Residential Income |
| Property Sub Type: | Apartment |
| Status: | Active |
| Living Area: | 49,744 |
| Tax Annual Amount: | $23,391 |
| Lot Size Square Feet: | 235,659.6 |
| Lot Size Acres: | 5.41 |
| Waterfront?: | No |
| City: | Milan |
| County Or Parish: | Gibson |
| Postal Code: | 38358 |
| Year Built: | 2003 |
| Construction Materials: | Brick, Vinyl Siding |
| Association?: | No |
| Cooling: | Central Air |
| Lot Size Units: | Acres |
| Heating?: | Yes |
| Cooling?: | Yes |
| State Or Province: | TN |
| Lot Features: | Cul-De-Sac, Level |
| Interior Features: | Ceiling Fan(s), Laminate Counters, Tub Shower Combo |
| Utilities: | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
| Sewer: | Public Sewer |
| Status: | Active |
| Lot Size Area: | 5.41 |
| Parking Features: | Open |
| Heating: | Central |
| Flooring: | Carpet, Vinyl |
| Water Source: | Public |
| Lot Size Dimensions: | 5.41 acres |
| Parcel Number: | 140G C 028.02 |
| Exterior Features: | Playground |
| Window Features: | Aluminum Frames, Vinyl Frames |
| Community Features: | Other, See Remarks |
| Roof: | Architectural |
| Garage?: | No |
| Directions: | 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. |
| Foundation Details: | Slab |
| Owner Pays: | Common Area Maintenance, Exterior Maintenance, Grounds Care, HVAC Maintenance, Insurance, Management, Pest Control, Repairs, Roof Maintenance, Taxes, Trash Collection |
| Parking Total: | 96 |
| Tenant Pays: | All Utilities |
| Road Frontage Type: | City Street |
| Road Responsibility: | Public Maintained Road |
| Special Listing Conditions: | Standard |
| Original List Price: | $3,600,000 |
| Laundry Features: | Electric Dryer Hookup, Laundry Room, Other, Washer Hookup |
| Possession: | Close Of Escrow |
| Living Area Source: | Assessor |
| Road Surface Type: | Asphalt |
| Stories Total: | 2 |
| Basement YN: | No |
| Basement YN: | No |
| Community Features 2: | Other, See Remarks |
| General Property Information Accessibility Features Yn: | No |
| Contract Information Comp Sale Yn: | No |
| Meter Information Number Of Separate Electric Meters: | 48 |
| Meter Information Number Of Separate Gas Meters: | 48 |
| Meter Information Number Of Separate Water Meters: | 48 |
| Number Of Units Leased: | 38 |
| Levels: | Two |
| Open Parking?: | Yes |
| Elementary School District: | Milan School District |
| Open Parking Spaces: | 60.0 |
| Total Actual Rent: | $41,179 |
| Number Of Units Vacant: | 10 |
| 2-bedroom Unit Details Number Of Ranges: | 32 |
| 2-bedroom Unit Details Baths Total: | 1 |
| 2-bedroom Unit Details Unit Type Description: | 2 bedrooms/ 2 full bathrooms |
| 2-bedroom Unit Details Units Total: | 32 |
| 2-bedroom Unit Details Baths Full: | 1 |
| 2-bedroom Unit Details Number Of W/d Connections: | 32 |
| 2-bedroom Unit Details Unit Type Total Rent: | $1,150 |
| 3-bedroom Unit Details Baths Total: | 2 |
| 3-bedroom Unit Details Unit Type Description: | 3 bedrooms/ 2 full bathrooms |
| 3-bedroom Unit Details Units Total: | 16 |
| 3-bedroom Unit Details Baths Full: | 2 |
| 3-bedroom Unit Details Number Of Ranges: | 16 |
| 3-bedroom Unit Details Number Of W/d Connections: | 16 |
| 3-bedroom Unit Details Unit Type Total Rent: | $1,287 |
| General Property Information Number Of Buildings: | 6 |
| General Property Information List Price/acre Backup: | $665,434 |
| General Property Information Number Of Units Total: | 48 |
| Contract Information Original Entry Timestamp: | 2026-10-30T12:55:31-05:00 |
| Location, Tax, And Legal City Tax: | $8,174 |
| Location, Tax, And Legal County Tax: | $5,546 |
| Location, Tax, And Legal City Limits: | Yes |
| Ceiling Heights: | 8 Foot |
Listing Courtesy of: Town and Country
Listing Agent: Kristen Londe
731-431-2799
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All information is believed accurate but not guaranteed. The properties displayed may not be all of the properties available through the IDX Program. Any use of this site other than by potential buyers or sellers is strictly prohibited.
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Central West Tennessee Association of REALTORS® data last updated on November 04, 2026 03:45 PM - CT.
Property Last Updated: November 04, 2026 03:45 PM - CT
