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Two mature evergreen trees frame the property entrance
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Extensive garden plots with established plantings
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Multi-level exterior decks with wooden railings, expansive parking area, and cultivated garden beds
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Bathroom featuring a white vanity with integrated sink, white toilet, and a combined white tub and shower unit
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Wood-finish flooring throughout, stainless steel appliances, wood-paneled backsplash, and a flush-mount ceiling light
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Stainless steel refrigerator, stainless steel range, wood-finish flooring, wood-paneled accent wall, and granite-look countertops
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White bath and shower combination with a single-handle faucet
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Wall-to-wall carpeting, two large windows, white window blinds, and a white interior door with brass hardware
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Wood-finish flooring throughout, white wall paint, flush mount ceiling light, white lower cabinetry, and a light-toned countertop
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Kitchen featuring wood-finish flooring, white cabinetry, a double basin sink, white range, and a flush mount ceiling light
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Integrated vanity with a white countertop and dark wood-finish cabinetry, a framed mirror, a white bathtub with shower, and tile-finish flooring
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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.
- Directions
- FROM 150 W Santa Fe St, Olathe, KS 66061 Turn left onto N Kansas Ave, continue for .2 miles. Turn left onto W Loula St and the property is on your right.
- Subdivision
- Olathe
- City
- Olathe
- County
- Johnson, KS
- Property Type
- Residential Income / Apartment
- Listing Updated
- Sep 10, 2026 at 8:09pm
- MLS Number
- 2641300
- Property Tax
- $5,909
- Zoning
- $C2
- Home Owners Association
- No
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