Blocks of units in Airport West represent one of Melbourne’s more quietly compelling multi-unit investment opportunities, sitting in an established north-west suburb with strong rental demand, solid infrastructure access, and a demographic profile that keeps vacancy rates low. If you are searching for a resilient, income-generating asset in Melbourne’s middle ring, Airport West deserves a close look in 2026.

Airport West (postcode 3042) sits roughly 12 kilometres north-west of Melbourne’s CBD, bordered by Essendon Airport to the south and the Western Ring Road to the north. It combines the convenience of arterial road access with a tight residential character that has kept owner-occupier and tenant demand stable across multiple market cycles. For investors seeking scale, a block of units here offers something a single dwelling rarely can: diversified rental income from one title, one land-tax assessment, and one property management relationship.

What Do the Numbers Say About Airport West Property?

Understanding the data is the foundation of any credible investment decision. According to DataVic and REIV figures compiled through the Collings CRM research dataset, the Airport West median house sale price stood at $915,000 for the April to June 2025 quarter, reflecting a quarter-on-quarter movement of -7.0% and a year-on-year change of -6.2%. While that headline number shows recent price softening, experienced investors will recognise that this kind of correction in a tightly held suburb often creates an entry window that rarely stays open for long.

For unit blocks specifically, the price-per-door metric is what matters most. When the broader house price median softens, multi-unit assets in the same suburb frequently reprice accordingly, meaning the underlying yield on a well-located block can improve materially during these windows.

On the rental side, ABS Census 2021 data records a median rent of $401 per week across Airport West. With rental inflation running well above wage growth nationally since 2021, market rents in 2026 have risen considerably beyond that Census baseline. For a block of, say, six units each returning current market rents, the gross annual income is substantial and the per-door management cost is shared across the portfolio, compressing the expense ratio relative to individual dwellings.

Who Lives in Airport West?

Demographics drive rental demand, and Airport West’s profile is instructive. ABS Census 2021 records a suburb population of 8,173, a median age of 39 years, and a median household income of $1,761 per week. That income figure sits comfortably above many comparable Melbourne suburbs, suggesting a tenant pool with the capacity to absorb market-rate rents. A median age of 39 also points to a working-age cohort — precisely the renters most likely to sign multi-year leases and maintain properties with care.

Proximity to Essendon Airport, the Western Ring Road, and the Tullamarine Freeway means Airport West attracts aviation workers, logistics professionals, and corporate tenants who value access over inner-city prestige. That employment anchor is a structural advantage many comparable suburbs lack.

What Are the Key Considerations When Investing in Blocks of Units in Airport West?

Buying a block of units is categorically different from buying a single investment property. The due diligence checklist is longer, the financing structure is more complex, and the management demands are higher. Here are the considerations that matter most in an Airport West context.

Zoning and Development Potential

Airport West sits predominantly within the General Residential Zone (GRZ) under the Moonee Valley Planning Scheme, with some pockets zoned Neighbourhood Residential (NRZ). GRZ land allows for a broader range of residential densities and, depending on the specific overlay conditions, can support additional dwellings. Before committing to any block of units, a pre-purchase planning review is essential — particularly to confirm whether the existing structures comply with current building regulations and whether the site has residual development capacity.

Body Corporate and Title Structure

Older Airport West unit blocks are frequently held on a single title (often called a “company title” or a stratum title arrangement), which affects both financing options and future liquidity. Lenders treat single-title blocks differently from strata-titled buildings where individual lots can be sold separately. If your exit strategy includes lot-by-lot strata subdivision, confirming the feasibility and cost of that process before purchase is critical.

Building Condition and Capital Expenditure

Much of Airport West’s unit stock dates from the 1960s to 1980s. While solid brick construction from that era typically has good bones, investors should budget for roof replacements, rewiring, plumbing upgrades, and facade remediation depending on the block’s maintenance history. A pre-purchase building inspection by a qualified engineer (not just a standard building inspector) is non-negotiable on a multi-unit asset of this age.

Financing a Multi-Unit Block

Blocks of six or more units are typically classified as commercial lending by most major lenders, which affects loan-to-value ratios (often capped at 65-70%), interest rate pricing, and assessment criteria. Specialist mortgage brokers with experience in multi-unit residential assets are invaluable at this stage. It is worth noting that nationally, according to Herron Todd White’s March 2026 Monthly in Review, investor lending has surged across Australia’s eastern seaboard, with new investor loans growing at 12.3% over the 12 months to late 2025 compared with just 1.7% for owner-occupiers. Lender appetite for residential investment assets remains strong, which supports financing access for well-located blocks.

Scale Advantages of a Unit Block

The core financial argument for a block of units over individual properties is the scale advantage. A single property manager handles all tenancies under one agreement. Land tax is calculated on one site value rather than multiple separate holdings (though this does mean a larger single land-tax liability, so professional tax advice is essential). Maintenance contractors can be negotiated at volume rates. Insurance is consolidated. These efficiencies compound meaningfully over a 10-year hold period.

Investors comparing Airport West to other Melbourne suburbs should also consider comparable opportunities nearby. Our guide to Essendon West units covers a similarly positioned suburb with its own yield and zoning profile, and our broader unit blocks Melbourne overview for 2026 provides a useful cross-suburb comparison framework.

How Does the Airport West Rental Market Compare to Broader Melbourne?

Context matters when assessing yield potential. SQM Research’s 2025 data shows Melbourne’s overall residential vacancy rate sitting below 2%, continuing the tight conditions that have characterised the rental market since international migration rebounded post-2022. Airport West, with its employment anchors and freeway access, has consistently tracked at or below the broader Melbourne vacancy average.

The suburb’s catchment for tenants is wide. Workers at Essendon Fields business precinct, staff at nearby hospitals and aged-care facilities, and logistics workers accessing the Western Ring Road freight corridor all represent durable demand segments. This diversity of tenant type reduces concentration risk compared with suburbs that rely on a single employer or university catchment.

For investors building a multi-unit portfolio across Melbourne’s north-west, it is also worth examining how Airport West fits alongside other established corridors. Our Blocks of Units Investment and Development Opportunities hub outlines the full range of suburbs where Collings actively sources and sells multi-unit assets.

How Does Collings Real Estate Help Investors Buy Blocks of Units in Airport West?

Collings Real Estate has operated from its base at 230 Waterdale Road, Ivanhoe, VIC 3079 for decades, developing deep relationships across Melbourne’s north and north-west corridors — including Airport West. That local presence translates directly into off-market deal flow. Many owners of older unit blocks in suburbs like Airport West are long-term holders who prefer a private transaction over a public auction campaign. Collings’ network consistently surfaces these opportunities before they reach the open market.

Off-Market Access via the Collings Portal

Registered investors with Collings gain access to off-market and pre-market listings through a dedicated investor portal. Signing up takes minutes and immediately connects you to properties that are never advertised publicly. Given how competitive the market for quality blocks has become nationally — with investor lending at near-decade highs according to Herron Todd White’s March 2026 review — off-market access is no longer a luxury. It is a practical necessity for buyers who want to avoid auction competition and negotiate on terms.

You can register for early access at the Collings investor portal and specify your criteria, including suburb preferences, minimum number of units, and target yield range.

End-to-End Investment Support

Beyond sourcing, Collings provides property management for multi-unit assets, which means the firm has a direct interest in the long-term performance of every block it sells. That alignment between the sales and management functions is unusual in the industry and genuinely valuable for investors who plan to hold and manage rather than flip.

The team can be reached directly at 03 9486 2000 or by email at info@collings.com.au. For investors comparing multiple Melbourne suburbs, browsing the full range of blocks of units investment opportunities across Melbourne listed by Collings is a good starting point.

Frequently Asked Questions About Blocks of Units in Airport West

What is the median house price in Airport West?

According to DataVic and REIV data compiled through the Collings research dataset, the median house sale price in Airport West was $915,000 for the April to June 2025 quarter, representing a year-on-year change of -6.2%.

What is the median rent in Airport West?

ABS Census 2021 recorded a median rent of $401 per week across Airport West. Current market rents in 2026 are higher, reflecting several years of above-CPI rental growth across Melbourne’s north-west.

Are blocks of units in Airport West good investments in 2026?

Airport West’s combination of freeway access, diverse employment anchors, a median household income of $1,761 per week (ABS Census 2021), and a tight rental vacancy environment makes it a credible location for multi-unit investment. Recent house price softening may represent a tactical entry point for buyers focused on yield rather than short-term capital gain.

How do I find off-market unit blocks in Airport West?

Registering with the Collings investor portal at collings.com.au/portal gives you access to off-market and pre-market multi-unit listings across Airport West and surrounding suburbs before they reach public advertising platforms.

How many units are in a typical Airport West block?

Airport West’s established unit stock largely comprises blocks of 4 to 12 units, predominantly built in the 1960s to 1980s on brick construction. Larger blocks do exist but are less common. The specific configuration available at any time depends on current off-market and listed stock — contact Collings on 03 9486 2000 for current availability.

Investing in blocks of units in Airport West requires rigorous due diligence, the right financing structure, and access to stock before it hits the open market. With strong rental fundamentals, an income-earning tenant base, and a suburb profile that has demonstrated resilience across multiple cycles, Airport West remains a serious contender for investors building a multi-unit Melbourne portfolio in 2026. Enquire about off-market unit blocks today by contacting the Collings team at 03 9486 2000 or info@collings.com.au.