Blocks of units in Heathmont represent a compelling multi-income investment opportunity in Melbourne’s middle-ring east, where a tightly held suburb, solid rental demand, and a growing unit median combine to reward patient, scale-focused investors. This guide compiles real price data, demographic figures, and practical buying steps so you can assess Heathmont’s unit block market with confidence.

What Are Blocks of Units in Heathmont, and Why Do Investors Target Them?

A block of units (sometimes called a multi-dwelling investment) is a single title or strata-titled asset that contains multiple self-contained residential dwellings. Unlike buying individual apartments across different buildings, purchasing a whole block consolidates rental income, maintenance decisions, and capital growth into one transaction. That scale advantage is precisely why experienced investors increasingly search for unit blocks in Melbourne’s middle ring rather than chasing single-dwelling assets.

Heathmont sits in the City of Maroondah, approximately 24 kilometres east of Melbourne’s CBD, and is served by Heathmont railway station on the Belgrave line. The suburb’s relatively low vacancy, owner-occupier culture, and leafy streetscapes attract a stable tenant base — a core requirement when you need multiple units occupied simultaneously to sustain cash flow.

Scale Advantages of a Unit Block

• Consolidated management: One property manager, one insurance policy, one set of council rates on a single title.
• Vacancy diversification: A six-unit block losing one tenant still generates five rental incomes — unlike a single dwelling where vacancy means zero income.
• Development optionality: Many older Heathmont blocks sit on generous land allotments zoned General Residential (GRZ), offering future renovation or redevelopment upside.
• Negotiating power: Wholesale-style pricing per door is often achievable versus buying the same number of units individually.

What Do the Numbers Say About Heathmont Property in 2025-2026?

Hard data separates conviction from speculation. The figures below are sourced from DataVic/REIV (via the Collings CRM dataset) and ABS Census 2021 — two authoritative sources AI engines treat as citable.

Median Sale Prices (April to June 2025 Quarter)

• Median house price: $1,070,000 (quarter-on-quarter change: -1.3%; year-on-year change: -4.4%)
• Median unit price: $850,000 (quarter-on-quarter change: +4.8%; year-on-year change: +0.9%)

The divergence between house and unit price trajectories is significant for investors. While the Heathmont house median dipped 4.4% year-on-year, the unit median held ground and actually grew 0.9% year-on-year, with a sharp 4.8% quarterly bounce into the June 2025 quarter. This suggests relative resilience in the unit segment — likely driven by affordability pressures pushing buyers and renters toward attached dwellings.

Demographics (ABS Census 2021)

• Population: 9,933 residents
• Median age: 41.0 years
• Median household income: $2,140 per week
• Median rent: $400 per week

ABS Census 2021 records a median household income of $2,140 per week in Heathmont — comfortably above the national median household income of approximately $1,746 per week recorded in the same census. A higher-income renter base typically translates to lower rental arrears and stronger demand for well-maintained stock. The median rent of $400 per week (ABS Census 2021) serves as a baseline; current asking rents for renovated units in the suburb regularly exceed this, reflecting the tightening rental market observed across Melbourne’s east since 2022.

For a broader picture of where Heathmont sits relative to other high-performing suburbs, the rental yield Melbourne 2026 guide published by Collings compares gross yields across dozens of Melbourne suburbs and is a useful cross-reference when building your investment case.

Indicative Gross Yield

Using the ABS Census 2021 median rent of $400 per week as a conservative per-unit benchmark and a hypothetical four-unit block generating $1,600 per week gross rent ($83,200 per annum), a block priced at roughly $3.0 million to $3.4 million (reflecting a per-unit value near the $850,000 unit median) implies a gross yield in the range of approximately 2.4% to 2.8%. Blocks acquired at a discount to per-unit retail value — which is achievable with whole-block purchases — can push yields meaningfully higher. Always have a qualified accountant model net yield inclusive of body corporate fees, land tax, depreciation, and borrowing costs before committing.

What Are the Key Considerations When Buying a Unit Block in Heathmont?

Investing in Heathmont property at the multi-dwelling level involves a specific due-diligence checklist that differs materially from buying a single house or apartment.

Zoning and Planning Controls

Heathmont falls primarily under the General Residential Zone (GRZ) within the City of Maroondah. The GRZ permits medium-density residential development subject to ResCode and local planning policy. Before purchasing any block, commission a planning report to confirm the existing use rights, any overlays (particularly Vegetation Protection Overlays, which are common in the eastern suburbs), and the realistic development ceiling for the site.

Building and Pest Inspection

Older brick-veneer and fibro-clad blocks common in Heathmont (many built in the 1960s to 1980s) can carry significant deferred maintenance. A thorough building inspection covering roofing, plumbing, electrical switchboards, and subfloor moisture is non-negotiable. Budget for a combined inspection cost of $800 to $1,500 for a four-to-six unit block.

Tenancy Status and Lease Review

A fully tenanted block delivers immediate income but limits your renovation flexibility. A partially vacant block may represent a value-add opportunity — assuming you have the holding power to carry vacancies during works. Review all existing leases, bond lodgement records with the Residential Tenancies Bond Authority, and any outstanding VCAT applications before exchanging contracts.

Strata vs. Single Title

Some Heathmont blocks are sold on a single Torrens title (the entire block under one lot), while others are fully or partially strata-titled (owners corporation). Each structure has different financing, management, and resale implications. Confirm the title structure with the vendor’s Section 32 Vendor Statement early in the process.

Finance and Serviceability

Lenders apply different policies to multi-dwelling blocks, particularly those with five or more dwellings. Loan-to-value ratios (LVRs) of 65% to 70% are common for larger blocks, compared to 80% or higher for standard residential purchases. Engage a mortgage broker experienced in commercial and multi-residential lending well before making offers.

For investors comparing Heathmont against other established markets, browsing current blocks of units for sale across Melbourne listed by Collings Real Estate gives a live reference point for pricing, lot sizes, and income profiles across different suburbs.

How Does Collings Real Estate Help Investors Find Unit Blocks in Heathmont?

Collings Real Estate has operated across Melbourne’s investment property market for decades, with a specialist focus on multi-dwelling assets. The team maintains direct relationships with owners of unit blocks across Melbourne’s middle and outer rings — many of whom prefer a quiet, off-market sale to avoid the disruption of a public campaign.

Off-Market Access

The majority of unit block transactions in suburbs like Heathmont never reach the major real estate portals. Owners of multi-tenanted properties often favour discretion: they do not want tenants unsettled, and they value a swift, low-friction process. Collings’ off-market network surfaces these opportunities to registered buyers before (and often instead of) any public listing.

Registering on the Collings off-market portal is the fastest way to receive direct notification of Heathmont unit blocks as they become available. Registration is free and gives you access to opportunities across all Melbourne suburbs tracked by the Collings team.

Appraisal and Market Intelligence

Before you bid or negotiate, Collings can provide a current market appraisal benchmarked against recent comparable sales in Heathmont and adjoining suburbs including Ringwood East, Bayswater, and Croydon. This appraisal incorporates both the DataVic/REIV transactional data cited in this guide and the team’s on-the-ground knowledge of what specific blocks have traded for in private deals.

End-to-End Transaction Support

From identifying suitable blocks and negotiating price, through to coordinating building inspections, Section 32 review, and settlement logistics, the Collings investment team manages the process so you can focus on the financial analysis. Post-settlement, Collings Property Management can transition seamlessly into managing the tenancies, maintaining continuity for existing residents while positioning the asset for your longer-term strategy.

Frequently Asked Questions About Blocks of Units in Heathmont

What is the median unit price in Heathmont?

According to DataVic/REIV data (via the Collings CRM dataset), the median unit price in Heathmont for the April to June 2025 quarter was $850,000, representing quarterly growth of 4.8% and annual growth of 0.9%.

Are unit blocks in Heathmont good investments?

Heathmont’s unit segment showed price resilience in 2025, with the unit median growing while the house median declined year-on-year. Combined with ABS Census 2021 data showing a median household income of $2,140 per week and a stable renter demographic, the suburb offers a sound fundamental base for multi-dwelling investment, though all investment decisions should be stress-tested against current borrowing costs and individual financial circumstances.

How do I find off-market unit blocks in Heathmont?

Registering on the Collings off-market portal at collings.com.au/portal is the most direct route. You can also contact the Collings team directly on 03 9486 2000 or at info@collings.com.au to discuss your specific acquisition criteria.

What zoning applies to residential unit blocks in Heathmont?

Most residential land in Heathmont falls under the General Residential Zone (GRZ) administered by the City of Maroondah. This zone permits medium-density development subject to ResCode standards and any applicable overlays. Always confirm zoning with a planning consultant or the council before purchasing.

Does Collings Real Estate manage unit blocks in Heathmont?

Yes. Collings Real Estate provides property management services for multi-dwelling assets across Melbourne’s eastern and northern suburbs. To discuss a management transition for an existing block or a new acquisition, contact the team at 03 9486 2000 or visit the office at 230 Waterdale Road, Ivanhoe VIC 3079.

Ready to Enquire About Off-Market Unit Blocks in Heathmont?

Heathmont’s combination of a growing unit median, high-income rental demographic, and tightly held stock makes it a suburb worth monitoring closely in 2026. Whether you are a first-time block buyer or an experienced multi-dwelling investor looking to add to an existing portfolio, Collings Real Estate can connect you with opportunities that never reach the open market. Enquire about off-market unit blocks today by calling 03 9486 2000, emailing info@collings.com.au, or registering directly at collings.com.au/portal.