711 Gladstone Avenue presents a rare opportunity to acquire a substantially renovated five-unit apartment building in Roland Park with strong income from day one and additional upside through modest rent growth. Offered at $925,000, the property generates $109,999 in effective annual income and offers a 7.27% in-place cap rate. Modest rent increases are projected to increase the cap rate to 8.22%, giving investors both a strong current return and near-term upside. The property has already undergone substantial improvements, limiting the amount of work required by a new owner. Four of the five apartments have been fully renovated with quartz countertops, wood shaker cabinets, new 30-inch gas ranges, built-in microwaves, dishwashers, and disposals. Renovated bathrooms feature modern vanities and shower stalls, and every apartment includes an in-unit washer and dryer. The newly completed terrace-level apartment offers one bedroom plus a den, while the first-floor two-bedroom apartment spans the entire floor and provides direct access to the large backyard. Recent building improvements extend beyond the apartment interiors. The property has 400-amp electrical service, six electric meters and five gas meters, allowing tenants to pay their individual gas and electric consumption. Each apartment is served by a high-efficiency gas furnace with central air conditioning, and the largely newer mechanical systems help reduce near-term capital expenditure and maintenance exposure at future turnovers. At $185,000 per unit and $221 per square foot, 711 Gladstone combines a 7.27% in-place cap rate, projected upside to 8.22%, four renovated apartments, tenant-paid utilities, and substantially updated building systems in one of Baltimore’s most established residential neighborhoods.