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711 Gladstone Ave 5 Unit Apartment Building $1,290,467 CAD ($258,093 CAD/Unit) 8.22% Cap Rate Baltimore, MD 21210
Investment Highlights
- Strong Day-One Return: Acquire a Roland Park apartment building with an in-place cap rate of 7.27% and a projected 7.1% cash-on-cash return.
- Recently Renovated Apartments: 4 apartments feature renovated kitchens and baths with quartz counters, shaker cabinets, ceramic tile, & new appliances
- Premier Roland Park Location: One of Baltimore’s most desirable neighborhoods, attracting high-quality tenants.
Executive Summary
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.
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.
Property Facts
| Price | $1,290,467 CAD | Apartment Style | Single-Family Home |
| Price Per Unit | $258,093 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 8.22% | Building Size | 4,180 SF |
| Gross Rent Multiplier | 8.2 | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1900/2025 |
| Property Subtype | Apartment | Parking Ratio | 1.2/1,000 SF |
| Zoning | R-3 - R3- Licensed for 5 Dwelling Units | ||
| Price | $1,290,467 CAD |
| Price Per Unit | $258,093 CAD |
| Sale Type | Investment |
| Cap Rate | 8.22% |
| Gross Rent Multiplier | 8.2 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 4,180 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1900/2025 |
| Parking Ratio | 1.2/1,000 SF |
| Zoning | R-3 - R3- Licensed for 5 Dwelling Units |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Pet Play Area
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 750 |
| 2+1 | 1 | - | 1,000 |
1 1
Moderately walkable
70/100
Moderately drivable
70/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 4924-008 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $684,761 CAD |
Property Taxes
Parcel Number
4924-008
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$684,761 CAD
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711 Gladstone Ave
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