Discover Lenox Townhomes – A Class A Investment Opportunity in Tullahoma
Lenox Townhomes presents the opportunity to acquire a newer-construction, 16-unit townhome community in the growing Tullahoma market. Located at 156 Silver Street, this well-built 2018 asset offers modern design, strong in-place tenancy, and durable construction—positioning it as a high-quality addition to any multifamily portfolio.
Each residence features a spacious 2-bedroom, 2.5-bath townhome layout totaling approximately 1,155 square feet. Interior finishes include granite countertops, stainless steel appliances, LVP flooring on the main level, carpet upstairs, and in-unit washers and dryers. The property is professionally managed and currently 94% occupied, reflecting consistent demand and a well-qualified tenant base. With tenants paying separately metered electric and water, operations remain streamlined and efficient.
Major building systems—including shingle roofs and package HVAC units installed in 2018—remain in excellent condition, and recent improvements have been proactive in nature. Additionally, an assumable Fannie Mae loan at a 4.28% fixed rate through March 2033 offers a compelling financing advantage. Supported by Tullahoma’s diverse employment base across aerospace, defense, manufacturing, healthcare, and financial services, Lenox Townhomes stands as a stabilized, Class A asset in a steadily growing market.
Investment Highlights:
- Sixteen Townhome-Style Units: All 2 bed / 2.5 bath layouts averaging ~1,155 SF with modern finishes and in-unit laundry.
- Newer Construction (2018): Two well-maintained buildings on 1.19 acres with strong curb appeal and durable systems.
- High Occupancy: 15 of 16 units currently leased with a consistent history of strong tenant retention.
- Tenant-Paid Utilities: Separately metered electric and water, creating operational efficiency.
- Professional Management: Consistent third-party management and stable operating history.
- Modern Building Systems: Shingle roofs and package HVAC units (2018) in excellent condition.
- Strong Submarket Positioning: Among the higher-performing rent properties in Tullahoma, attracting quality tenants.
- Assumable Fixed-Rate Financing: Approximately $1.33M Fannie Mae loan at 4.28% fixed through March 2033.
