76-78 Chapman Street, North Melbourne, Victoria
Apartments on Chapman - Secure a Proven Serviced Apartment Business
Leasehold $650,000
Business Description
CRE Brokers are delighted to present for sale the leasehold interest in Apartments on Chapman, a well-established serviced apartment business located in the heart of North Melbourne, Victoria.
Positioned in a quiet side street just off Flemington Road, the property enjoys exceptional proximity to key Melbourne landmarks. It is within walking distance or a short tram ride to the Royal Children's Hospital, Royal Melbourne Hospital, Royal Women's Hospital, Peter MacCallum Cancer Centre, Melbourne University, Melbourne Zoo, and the Melbourne CBD.
The complex comprises 19 fully self-contained accommodation units, offering a mix of studio, one-bedroom, and two-bedroom apartments. All units feature in-room cooking facilities, and the property includes onsite car parking. Renovated throughout in 2011, the apartments present in modern condition.
The business has been successfully operated under management for many years and presents an excellent opportunity for an owner-operator to further enhance returns, underpinned by strong repeat patronage from friends and family visiting patients at nearby hospitals.
Private inspections are available by appointment.
Business Summary
Other Features / Notes
A:LEASEHOLD, B:MOTEL, C:VIC - MelbourneKey Investment Insights
1. Leasehold interest offered in a proven serviced apartment business, Apartments on Chapman, in North Melbourne.
2. Prime inner-city location on a quiet side street off Flemington Road, close to transport links.
3. Within walking distance or a short tram ride to major medical precincts including the Royal Children’s Hospital, Royal Melbourne Hospital, Royal Women’s Hospital and Peter MacCallum Cancer Centre.
4. Proximity also includes Melbourne University, Melbourne Zoo and the Melbourne CBD, supporting diverse guest demand.
5. Complex of 19 fully self-contained units with a mix of studio, one-bedroom and two-bedroom apartments.
6. All units feature in-room cooking facilities, supporting longer stays and self-catering guests.
7. Onsite car parking available, adding convenience for guests and potential premium pricing.
8. Fully renovated throughout in 2011, presenting in modern condition.
9. Business operated under management for many years, indicating established systems and occupancy.
10. Strong repeat patronage from friends and family visiting hospital patients, providing stable demand; clear owner-operator upside to enhance returns.
11. Suitable for owner-operator acquisition or continued management operation, with private inspections available by appointment.
