Amazing project property with massive upside in the heart of Olathe. This 10-unit multifamily building is 100% vacant and ready for a full down-to-the-studs renovation. The location is unbeatable—just a 5-minute walk from the $250M downtown revitalization, including the new City Hall, Johnson County Courthouse, and the emerging lifestyle district… Read More filled with new retail and dining.The property sits on a rare 1.48-acre lot confirmed as R5 High Density zoning. This offers a unique dual opportunity: rehab the existing structure into a high-cash-flow showplace while exploring the potential to add more buildings on the oversized parcel. The units are already sub-metered for electric and water (gas is master), providing a huge head start on stabilization. While it needs a heavy lift to become occupied once again, the land value and prime location make this an irreplaceable asset. Buyer to verify all future development possibilities. This is a historical property and was the old Mill building with 2 foot thick limestone construction. Information deemed reliable but not guaranteed. No seller finance, please do not ask. Read Less
Listing courtesy of Lutz Sales + Investments 913-426-5576
Listing Snapshot
Days Online
2
Last Updated
Property Type
Apartment
Lot Size
1.48 Acres
Year Built
1900
MLS Number
2649039
Additional Details
Building
Built in 1900, 3 stories, Construction Materials: Stucco
Cooling
Window Unit(s)
Heating
None
Home Owner's Association
Association Fee: $0, Fee Frequency: None
Lot
1.47766 acres
Parking
Off Street, On Street
Roof
Composition
Sewer
Public Sewer
Taxes
Parcel Number: DF231336-1002, Legal Description: 36-13-23 BG CTR/L CEDAR ST 305' E W/L SW1/4 NW1/4 E 240.45' TO CRK NLY 60' NE 107'NW 100' NE 50.1' TO N/L SW1/4 NW1/4 W 195.4' S 297' TO BG 1.79 ACS EX S 25' IN ST OLC-0343, Zoning: MF
Utilities
Master Meters, Separate Meters, Water Source: City/Public - Verify
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Listings courtesy of Heartland MLS as distributed by MLS GRID, based on information submitted to the MLS GRID as of . Information is provided exclusively for consumers' personal noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may be listed or sold by various participants in the MLS, who may not be the office/agent presenting the information.
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