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Property profile & analytics
OFF-MARKET
Estimated value
$3,110,000
Garden apartment buildings
1710 Lennox St Olathe, KS 66061-5195
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US33-0331312
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1995
Construction
FRAME
Total area
79,824 SF
Lot
22.08 ac (961,805 SF)
Zoning code
RP-4
APN
DP63440000 0001
UPID
US33-0331312
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Apartment 10C Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.11M
Owner & transaction history
Lennox Property LP · 7 yrs held
Lennox Property LP
since 2019
2 recorded transactions
Zoning & alternative use
RP-4 · Olathe, KS
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
This district provides for well-designed multifamily complexes with emphasis on open space and access to light and air. And the PD (Planned District) provides for development of office, research and development, light assembly, limited retail and service uses, and residential uses in a mixed-use setting.
Zone name
Planned Medium Density Multifamily
General category
PLANNED_DEVELOPMENT
Zone area
234.40 ac
Source
Realmo
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Olathe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Olathe submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,650,000
Current use
Blend value · Realmo final
$3.11M
Range $2.80M – $3.42M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$39 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$754,489
Tax year 2023
Assessed value
$6,448,510
Assessed 2023
Previous assessed
$5,920,660
+8.9% YoY
Effective rate
11.70%
On assessed value
Assessed land
$414,514
Assessed improvement
$6,033,996
Land market value
$3,604,470
Improvement market value
$52,469,530
Total market value
$56,074,000
Applied tax rate
611.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1995
Construction
FRAME
Heating
NONE
Cooling
AC.PACKAGE
Buildings
6
Stories
3
Units
24
Bathrooms
7
Total area
79,824 SF
Lot
22.08 ac (961,805 SF)
Zoning code
RP-4
APN
DP63440000 0001
UPID
US33-0331312
Jurisdiction
JOHNSON
Zoning & alternative use
RP-4 · Olathe, KSZoning RP-4 · permitted uses
RP-4 · Olathe, KS
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
This district provides for well-designed multifamily complexes with emphasis on open space and access to light and air. And the PD (Planned District) provides for development of office, research and development, light assembly, limited retail and service uses, and residential uses in a mixed-use setting.
Zone name
Planned Medium Density Multifamily
General category
PLANNED_DEVELOPMENT
Zone area
234.40 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.7M
APARTMENT HOUSE (5+ UNITS) Current
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1995
Construction
FRAME
Heating
NONE
Cooling
Yes
Stories
3
Buildings
6
Units
24
Bathrooms
7
Lot
22.08 ac
Current owner
From public records · entity-resolved
Lennox Property LP
Entity
Mailing address
10101 FONDREN RD STE 250F, HOUSTON, TX 77096-5551
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 26, 2019
—
Lennox Property LP
Ns 1890 Lennox Ks LLC
Special Warranty Deed
$33,152,000 · Berkadia Commercial Mortgage LLC
Jun 3, 2013
—
Ns 1890 Lennox Ks LLC
Olathe Leased Housing Associates I
Special Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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