Signal Hill Studios
2950 Summit St, Kansas City, MO 64108
Marketing description
Clemons Real Estate is pleased to present Signal Hill Studios, a 48-unit all-studio community at 2950 Summit St in Kansas City's Midtown corridor — delivered in 2023 and the first shipping container multifamily development of its kind in Kansas City. Built to a modern micro-living concept with 360 SF floor plans, floor-to-ceiling windows, in-unit laundry, and individually metered electric, the property carries a lean, low-maintenance operating profile. In-place rents average $902/month against a market of $995, representing nearly $100/unit in monthly upside. Current NOI of $265,125 grows to a proforma of $350,712 as rents stabilize toward market. This is a rare opportunity to acquire a newly built, one-of-a-kind asset at a below-replacement basis with meaningful, renovation-free upside ahead.
Nestled in the vibrant heart of Kansas City, the area surrounding Signal Hill Studios offers a dynamic urban experience for residents. Within walking distance, the lively Crossroads Arts District beckons with its eclectic mix of galleries, shops, and trendy eateries. Just moments away, the iconic Power & Light District lights up the night with its renowned entertainment options. For a touch of nature, the beautifully landscaped Penn Valley Park provides a serene retreat, while the nearby National World War I Museum and Memorial offers a poignant glimpse into history. With its unbeatable location and array of attractions, the area surrounding the property is a prime destination for those seeking a multifamily/high-rise lifestyle in Kansas City.
Investment highlights
- First-of-Its-Kind Construction — Durable, Sustainable, Low Maintenance – Kansas City's first shipping container multifamily project, proven and operating successfully since 2023.
- Individually Metered Electric — Lean Expense Structure – Tenant-paid electric and instant hot water minimize ownership's utility exposure.
- Rent Upside to Market – In-place rents average $902/month, with the property already having proven rents above $1,000.
- Midtown Location with Resident Amenities and Strong Access – Dog park, private patios/decks, Penn Valley Park across the street, and KC Streetcar access.
- Modern micro-living concept with 360 SF floor plans
- Floor-to-ceiling windows and in-unit laundry
- Current NOI of $265,125 grows to proforma of $350,712
- Below-replacement basis acquisition opportunity
- Renovation-free upside potential
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