209 E Loula ST, Olathe, KS 66061
209 E Loula ST, Olathe, KS 66061
209 E Loula ST, Olathe, KS 66061
209 E Loula ST, Olathe, KS 66061
209 E Loula ST, Olathe, KS 66061
209 E Loula ST, Olathe, KS 66061
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Jas Benibo

Jas Benibo

+1(816) 533-5095
Listed by Jay Ruf Jr. • Peak Real Estate Partners, LLC
$ 630,000
Est. payment | /mo

7,840 Sqft Lot

Save
$ 630,000
Est. payment | /mo
Save

7,840 Sqft Lot

Key Details

Property Type Single Family Home, Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Olathe

MLS Listing ID 2641300

Year Built 1920

Annual Tax Amount $5,909

Lot Size 7,840 Sqft

Acres 0.18

Property Sub-Type Apartment

Source hmls

Property Description

The Ritz is a 6-unit multifamily property built in 1920 and located in the heart of downtown Olathe, KS, offered at $630,000. The property is currently 5 of 6 units occupied, with in-place rents on the 2 bed/1 bath units ranging from $725 to $950, indicating room to push rents to market level. The owner currently absorbs all water/sewer and trash expenses without tenant billback in place, giving a new owner two clear, low-lift value-add levers: raise in-place rents to market and implement a RUBS utility billback program. The property sits in a walkable, historic pocket of downtown Olathe that is in the midst of a well-funded revitalization, a new Downtown Olathe Library, the Johnson County Courthouse, Johnson County Square Park, and the County Square Commons dining and entertainment district (opening late 2026/early 2027) have all landed within the immediate area since 2021, alongside recurring draws like Fourth Fridays, the Garmin Marathon, and the Johnson County Old Settlers celebration. Central Elementary School sits just a few blocks away on E Cedar St, and the property borders a community garden, both strong pulls for the family and long-term renter demand this unit mix is built for.

Location

State KS

County Johnson

Zoning C2

Interior

Heating Natural Gas

Cooling Central Gas

Fireplace N

Laundry In Basement

Exterior

Parking Features false

Utilities Available Cent Water Heater, Ind Heat And Air

Roof Type Composition

Building

Story 2

Sewer Public Sewer

Water Public

Structure Type Stone & Frame

Schools

School District Olathe

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Heartland MLS KS / Southeast Kansas AOR

Nearby Locations

Jas Benibo

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(816) 533-5095

jas@statelinecollective.com

10895 Lowell Ave, Overland Park, KS 66210-1678, USA

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209 E Loula ST