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No HOA
Street View
$630,000
Monthly Est:$3,136
-- Bed
4 Baths
--sqft
209 E Loula St, Olathe, KS 66061
$630,000
$3,136/moEst:
Get Pre-Approved
Apartment
Built in 1920
$-- HOA
0.18 acre lot
--/sqft
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.
- Houzeo last checked: 8 hours ago
- Listing updated: September 11, 2026 at 1:51 am
- Listing Provided by: Jay Ruf Jr. (913) 284-8467 | Peak Real Estate Partners, LLC (913) 221-3590
- Source: Heartland MLS-KS | MLS#: 2641300
Property Details
Status
Active
Type
Multi Family
No. of Stories
2
County
City
Neighborhood
--
Year Built
1920
HOA Fees
-
Finished Area
- sqft
Lot Size
0.18 acre lot
Basement Area
- sqft
MLS Name
Heartland MLS
MLS Number
2641300
MLS Status
Active
Days on Market
22
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedroom: --
Bathrooms: 4
Interior
Heating
Natural Gas
Cooling
Central Gas
Sewer
Public Sewer
Construction
Year Built
Year Built: 1920
Home type
Apartment
Construction Materials
Stone & Frame
Roof
Composition
Utilities & Energy
Parking Features
Off Street
Utilities
Cent Water Heater, Ind Heat And Air
Laundry Features
In Basement
Water Source
Public
Other Features
Subdivision Name
Olathe
Price History
| Date | Event | Price |
|---|---|---|
09/11/2026 Source: | Listed for Sale | $630,000 +72.60% $0/sqft |
08/29/2023 Source: | Sold | $365,000 $0/sqft |
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Based on information from the Kansas City Regional Association of REALTORS® or Heartland MLS through Oct 01, 2026, 02:47PM. The information displayed on this page is confidential, proprietary, and copyrighted information of Heartland Multiple Listing Service, Inc. (“Heartland MLS”). Heartland MLS does not make any warranty or representation concerning the timeliness or accuracy of the information displayed herein. In consideration for the receipt of the information on this page, the recipient agrees to use the information solely for the private non- commercial purpose of identifying a property in which the recipient has a good faith interest in acquiring. Some IDX listings have been excluded from this website. The data relating to real estate displayed on this website comes in part from the Heartland Multiple Listing Service database compilation. The properties displayed on this website may not be all of the properties in the Heartland MLS database compilation, or all of the properties listed with other brokers participating in the Heartland MLS IDX program. Detailed information about the properties displayed on this website includes the name of the listing company. © 2026 Heartland Multiple Listing Service, Inc. All Rights Reserved.
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