Assumable Fannie SBL Debt - Lenox Townhomes 156 Silver St 16 Unit Apartment Building $3,597,285 CAD ($224,830 CAD/Unit) 6.04% Cap Rate Tullahoma, TN 37388

Located at 156 Silver Street, Lenox Townhomes presents the opportunity to acquire a newer-construction, 16-unit townhome community in the growing Tullahoma market. Built in 2018, the property features two well-constructed buildings totaling approximately 18,480 square feet and is situated on a 1.19-acre lot. The asset offers modern design and strong in-place tenancy, positioning it as a high-quality addition to any multifamily portfolio.

Situated minutes from downtown Tullahoma (3-5 minutes), the property offers access to local dining establishments such as One22West and Emil’s Bistro. The North Jackson Street retail corridor (5-7 minutes) provides access to Walmart Supercenter, Marshalls, and Publix supermarket. Arnold Air Force Base, a major regional employer, is within a 20- to 30-minute drive and supports a stable tenant base.

Each unit consists of a 2-bedroom, 2.5-bath townhome layout and averages approximately 1,155 square feet of thoughtfully designed living space. Interior finishes include granite countertops, stainless steel appliances, LVP flooring on the main level, carpet on the second level, and in-unit washers and dryers. The property is professionally managed and 94% occupied, reflecting consistent tenant demand and a stable rent roll.

Operations are streamlined with tenants responsible for separately metered electric and water, helping maintain operating efficiency. Major building systems, including shingle roofs and package HVAC units installed during construction, remain in excellent condition, with ownership maintaining the asset through proactive upkeep.

Lenox Townhomes is well-positioned within the local rental market, attracting a stable tenant base supported by Tullahoma’s diverse employment drivers, including aerospace, defense, manufacturing, healthcare, and financial services. The property ranks among the stronger-performing rental communities in the area, benefiting from both quality construction and functional unit layouts.

In addition, the offering includes an assumable Fannie Mae loan of approximately $1.33 million at a 4.28% fixed interest rate through March 2033, providing a favorable financing component for qualified buyers.