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Listed by Michelle Lutz • Lutz Sales + Investments
$ 525,000
Est. payment /mo
Active
414 E Cedar ST Olathe, KS 66061
1.48 Acres Lot
UPDATED:
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2617191
Year Built 1900
Annual Tax Amount $5,526
Lot Size 1.478 Acres
Acres 1.477663
Property Sub-Type Apartment
Source hmls
Property Description
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 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. Information deemed reliable but not guaranteed. No seller finance, please do not ask.
Location
State KS
County Johnson
Zoning MF
Interior
Heating None
Cooling Window Unit(s)
Fireplace N
Exterior
Parking Features false
Utilities Available Master Meters, Separate Meters
Roof Type Composition
Building
Story 3
Sewer Public Sewer
Water City/Public - Verify
Structure Type Stucco
Schools
School District Olathe
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://www.dropbox.com/scl/fo/senl7b236gk24qrafaqds/AAr13JrCJQPCKnl82K8fmMU?rlkey=h1zos6bo0gwauc8u602vdmini&st=pwxb64vy&dl=0
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