Historic opportunity: 120-year-old downtown Chattanooga mansion for sale

Staff photo by Troy Stolt / The 120-year-old Millburn house, located at 525 E Fourth street, as seen on Saturday, Feb. 15, 2020 in Chattanooga, Tenn.
Staff photo by Troy Stolt / The 120-year-old Millburn house, located at 525 E Fourth street, as seen on Saturday, Feb. 15, 2020 in Chattanooga, Tenn.

A 120-year-old house in downtown Chattanooga that has been set up for apartments is on the market.

The Milburn House, at 525 E. Fourth St., is 8,387 square feet with a sale price of $1.39 million, according to real estate broker Chip Ellis of Real Estate Partners Chattanooga LLC.

The four-story building is located within walking distance of the University of Tennessee at Chattanooga, Bluff View Art District, Walnut Street Bridge and the Tennessee Riverpark.

ABOUT THE SITE

* Location: 525 E. Fourth St. * Building size: 8,387 square feet * Sale price: $1.39 million * Zoning: C-1 * For more information: Chip Ellis of Real Estate Partners Chattanooga LLC.

The structure has a two-car attached garage plus six spaces in a parking lot.

The house was built for C.F. Milburn, who was president and owner of the Chattanooga Wagon Co., according to Ellis. It's one of the few original mansions still standing in the heart of downtown.

When the structure was restored, it was redesigned into a large residence with three additional rental units. With all four units leased, the estimated annual rental income would be $96,000, according to the broker.

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