Clayton, Victoria

Blue Chip Passively Run Mixed Use Melbourne MR

$3.07M MR & $650k Unit = Total $3.72M

Business Description

This well-established 181-lot complex, developed by the esteemed Lechte Corporation, offers a mix of apartments and townhouses, catering to both short-stay and permanent residents. The on-site letting pool includes 76 lots—40 short-stay and 36 permanent—maintaining strong occupancy and stability across both sectors.

The property benefits from an efficient management structure, with a full-time property manager, dedicated receptionist, housekeeping staff, and a part-time cleaner maintaining the well-presented common areas. The modern setup requires no on-site residency for managers, ensuring seamless operations.

A key highlight is the manager’s three-bedroom unit, generating $45,000 annually. The short-stay segment remains in high demand due to its proximity to major hospitals, Monash University, and business parks. Post-pandemic, occupancy has exceeded 80%, with rising ADR, presenting strong growth potential. Further revenue opportunities exist by converting permanent tenancies to short-stay.

An additional opportunity lies in acquiring 62 externally managed apartments, a growth avenue currently untapped. The MR business is supported by strong caretaking and letting agreements, a professional reception area, and dedicated operational spaces. A cooperative body corporate committee ensures long-term agreement stability.

Financially, this opportunity is compelling, with a net profit of $616,113 and an OC salary exceeding $185,000 for minimal duties, delivering a flat 20% return. Currently run passively by an interstate partnership, this investment is ideal for owner-operators or investors seeking a high-return, low-maintenance business.

As one of Victoria’s top MLRs, Clayton Serviced Apartments offers stable profitability with the flexibility for passive or active management.

**Ras360 – Specialists in Management Rights | Motels | Hotels | Pubs | Parks**

Business Summary