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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. 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.
- Directions
- Take the ramp onto I-35 S Entering Kansas , go 11.4 mi Keep left to stay on I-35 S, go 8.0 mi Take exit 218 toward Santa Fe, go 0.2 mi Take the ramp to Kansas State Sch for the Deaf, go 259 ft Merge onto W 135th St/E Santa Fe St, go 0.7 mi Turn left onto N Keeler St, go 0.3 mi Turn right onto E Cedar St Destination will be on the right, go 0.4 mi
- Subdivision
- Other
- City
- Olathe
- County
- Johnson, KS
- Property Type
- Residential Income / Apartment
- Listing Updated
- Sep 09, 2026 at 2:09pm
- MLS Number
- 2617191
- Property Tax
- $5,526
- Zoning
- $MF
- Home Owners Association
- No
- Disclaimer
- The information displayed on this page is confidential, proprietary, and copyrighted information of Heartland Multiple Listing Service, Inc. (“Heartland MLS”). Copyright 2026, Heartland Multiple Listing Service, Inc. Heartland MLS, Elite Realty and Agent Jo do 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.
- 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.
- Information is deemed reliable but is not guaranteed.
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