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Cedar Apartments 414 E Cedar St 10 Unit Apartment Building $525,000 ($52,500/Unit) Olathe, KS 66061
Investment Highlights
- 100% Vacant and Ready for a Full Down-to-the-studs Renovation
Executive Summary
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.
Property Facts
| Price | $525,000 | Building Class | C |
| Price Per Unit | $52,500 | Building Size | 5,029 SF |
| Sale Type | Investment | Average Occupancy | 0% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1900 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $525,000 |
| Price Per Unit | $52,500 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Building Size | 5,029 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built | 1900 |
| Opportunity Zone |
Yes |
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Fairly walkable
50/100
Exceptionally drivable
90/100
Minimal public transit
10/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | DF231336-1002 | Improvements Assessment | $39,174 |
| Land Assessment | $10,391 | Total Assessment | $49,565 |
Property Taxes
Parcel Number
DF231336-1002
Land Assessment
$10,391
Improvements Assessment
$39,174
Total Assessment
$49,565
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Cedar Apartments | 414 E Cedar St
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