209 E Loula Street, Olathe, KS 66061

Olathe
Local realty services provided by:ERA McClain Brothers
209 E Loula Street,Olathe, KS 66061
$615,000
  • - Beds
  • - Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: jay ruf jr.
Office: peak real estate partners, llc.
MLS#:2641300
Source:MOKS_HL

Price summary

  • Price:$615,000

About this home

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...

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Home facts

  • Year built:1920
  • Subdivision & Development:Olathe
  • Listing ID #:2641300
  • Added:57 day(s) ago
  • Updated:November 06, 2026 at 03:34 PM

Rooms and interior

  • Basement:Yes

Heating and cooling

  • Cooling:Central Gas
  • Heating:Central Gas

Structure and exterior

  • Roof:Composition
  • Year built:1920
  • Lot area:0.18 Acres
  • Construction Materials:Stone & Frame

Utilities

  • Water:City/Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$615,000

Parking

  • Total parking spaces:7
  • Parking description:Off Street
MLS LogoHeartlandMLS©2026. Information Deemed Reliable But Not Guaranteed. This information is being provided by the HeartlandMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data <Last Updated November 6, 2026

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