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Assumable Fannie SBL Debt - Lenox Townhomes 156 Silver St 16 Unit Apartment Building $2,600,000 ($162,500/Unit) 5.54% Cap Rate Tullahoma, TN 37388
Investment Highlights
- Stabilized, professionally managed, consistent occupancy and operations
- Well built, well maintained
- Assumable Fannie SBL debt, 4.28% fixed until March 2033
Executive Summary
Lenox Townhomes is a Class A, 16-unit townhome community located at 156 Silver Street in Tullahoma, Tennessee. Built in 2018, the property consists of two well-constructed buildings totaling approximately 18,480 square feet on 1.19 acres. The community features sixteen spacious 2-bedroom, 2.5-bath townhomes, each offering roughly 1,155 square feet of thoughtfully designed living space. Interior finishes include granite countertops, stainless steel appliances, LVP flooring on the main level, carpet upstairs, and in-unit washers and dryers that transfer with the sale. Reach out the the listing agent for OM and detailed financials.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,600,000 | Apartment Style | Low-Rise |
| Price Per Unit | $162,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.16 AC |
| Cap Rate | 5.54% | Building Size | 18,480 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2018 |
| Property Subtype | Apartment | Parking Ratio | 1.52/1,000 SF |
| Zoning | MF2 | ||
| Price | $2,600,000 |
| Price Per Unit | $162,500 |
| Sale Type | Investment |
| Cap Rate | 5.54% |
| Sale Condition | 1031 Exchange |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.16 AC |
| Building Size | 18,480 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2018 |
| Parking Ratio | 1.52/1,000 SF |
| Zoning | MF2 |
Amenities
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Pet Play Area
- Pet Care
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2.5 | 16 | - | 1,155 |
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Property Taxes
| Parcel Number | 123H-A-022.00 | Total Assessment | $743,080 |
| Land Assessment | $16,000 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $727,080 | Tax Year | 2025 |
Property Taxes
Parcel Number
123H-A-022.00
Land Assessment
$16,000
Improvements Assessment
$727,080
Total Assessment
$743,080
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Assumable Fannie SBL Debt - Lenox Townhomes | 156 Silver St
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