Blocks of units in Mordialloc represent one of Melbourne’s more compelling bayside multi-tenancy opportunities, combining a tightly held residential market with consistent rental demand driven by the suburb’s coastal lifestyle and strong household income base. This guide covers everything an investor needs to know in 2026, from the raw numbers through to the buying process and how Collings Real Estate can help you find stock that rarely reaches the open market.

What Are Blocks of Units in Mordialloc, and Why Do Investors Target This Suburb?

Mordialloc sits approximately 27 kilometres south-east of Melbourne’s CBD, bordered by Port Phillip Bay to the west and the Mordialloc Creek to the south. The suburb’s walkable village strip, direct Frankston line access, and proximity to the beach have made it a perennial favourite with renters who want coastal living without paying Bayside peninsula premiums.

For investors, a block of units means acquiring multiple dwellings on a single title. That structure delivers several advantages over buying individual apartments:

• Scale efficiency: One purchase, one set of legal costs, one management relationship, and multiple income streams from day one.
• Vacancy buffering: If one tenancy is vacant, the remaining units continue to generate income, smoothing cash-flow risk.
• Development optionality: Older walk-up blocks in established suburbs like Mordialloc often sit on land with redevelopment potential, subject to council overlay and planning scheme controls.
• Reduced per-unit acquisition cost: Bulk purchases typically price individual units at a discount to comparable strata stock, improving entry yield.

If you are also evaluating broader Melbourne locations, the Blocks of Units for Sale in Melbourne 2026 guide provides a cross-suburb comparison that is useful for benchmarking Mordialloc against competing suburbs.

What Do the Numbers Say About the Mordialloc Property Market?

Grounding any investment decision in verified data is non-negotiable. The figures below are sourced from DataVic and REIV (via Collings’ CRM dataset) for the April to June 2025 quarter, and from the ABS Census 2021.

Median Sale Prices

• Median house price: $1.39 million (Apr-Jun 2025 quarter), up 9.9% quarter-on-quarter, down 0.2% year-on-year. According to DataVic/REIV data, this quarterly surge reflects tightening supply and competitive auction clearances in the second quarter of 2025.
• Median unit price: $670,000 (Apr-Jun 2025 quarter), down 11.6% quarter-on-quarter and down 14.6% year-on-year. The unit segment has repriced, which opens an interesting window for investors acquiring whole blocks where per-unit embedded value has compressed.

Rental Market and Demographics

ABS Census 2021 records the following for Mordialloc:

• Population: 8,886 residents
• Median age: 40.0 years
• Median household income: $2,037 per week
• Median rent: $400 per week

A median household income of $2,037 per week is meaningfully above the national median and signals a rental cohort with financial resilience, reducing arrears risk for landlords. The median rent of $400 per week recorded at Census has since moved higher with broader rental inflation; investors should seek current appraisals from a local property manager for 2026 asking rents by unit type.

What Does This Mean for Gross Yield?

Using the Census median rent of $400 per week as a conservative floor and the current median unit price of $670,000, a single unit would produce an indicative gross yield of approximately 3.1% at those Census-era rent levels. Blocks of units, purchased at a per-unit discount to the strata median and with 2025-2026 market rents applied, typically outperform that headline figure. Investors should model each asset individually. For a broader look at how Mordialloc compares to other high-performing suburbs, the High Rental Yield Suburbs Melbourne 2026 analysis provides helpful context on where bayside locations sit in the yield spectrum.

What Are the Key Considerations When Investing in Mordialloc Unit Blocks?

Planning and Zoning

Mordialloc falls under the Kingston City Council planning scheme. Much of the established residential area is zoned Neighbourhood Residential Zone (NRZ) or General Residential Zone (GRZ), with some corridors closer to Nepean Highway subject to higher-density overlays. Before proceeding, a planning permit pre-application check with council, or advice from a town planner, is essential for any block where redevelopment is part of the investment thesis.

Building Condition and Capital Expenditure

Many walk-up blocks in Mordialloc date from the 1960s to 1980s. A pre-purchase building and pest inspection, plus a detailed capital expenditure schedule covering roofing, plumbing, electrical, and common area maintenance, should be factored into your return modelling before making an offer. Older buildings with original fittings can still be excellent earners, but the capex runway must be priced in at acquisition.

Strata vs. Whole-of-Title Ownership

Buying a whole block on a single title gives you full control over tenancy, refurbishment timing, and any future subdivision or redevelopment application. Strata-titled units in the same building, by contrast, require owners corporation approval for many decisions. Whole-of-title ownership is generally the preferred structure for investors seeking maximum flexibility, and it is the product type Collings specialises in sourcing for clients.

Finance Structuring

Lender appetite for whole blocks of units differs from standard residential lending. Loan-to-value ratios (LVRs) are often lower, typically capped at 65-70% depending on the lender and the number of units in the block, and serviceability is assessed differently when multiple rent rolls are involved. Engaging a commercial or investment-focused mortgage broker early in your search will save time and avoid disappointment at the finance stage.

Property Management

Managing four, six, or eight separate tenancies requires systems and local knowledge. An experienced local property manager who knows the Mordialloc rental pool, understands tenancy law, and can coordinate maintenance efficiently is a material contributor to net yield. Ask prospective managers about their average days-on-market for comparable units and their current vacancy rates in the suburb.

Investors who want to understand how the broader Blocks of Units market works across Melbourne will find Collings’ hub page a useful starting point for understanding asset types, deal structures, and what due diligence looks like in practice.

How Does Collings Real Estate Help Buyers Find Blocks of Units in Mordialloc?

Collings Real Estate has been operating in Melbourne’s investment property market for decades. The agency has built a reputation for sourcing and transacting multi-tenancy assets, including blocks of units, across inner and middle-ring Melbourne. Here is how the process works for buyers targeting Mordialloc:

1. Off-market access: Many whole blocks of units never reach public listing portals. Collings maintains a network of owners, executor estates, and developers who prefer discreet transactions. Registering on the Collings off-market portal is the most direct way to be notified when a Mordialloc block becomes available before it is publicly listed.
2. Property appraisal and due diligence support: The team can provide indicative rental appraisals, help interpret planning overlays, and connect buyers with relevant specialists including conveyancers, town planners, and quantity surveyors.
3. Negotiation and acquisition: Whether a block is listed by expression of interest, private sale, or auction, Collings’ agents are experienced in structuring offers that protect buyers through appropriate conditions while remaining competitive in a tight market.
4. Ongoing management: For buyers who want a complete solution, Collings’ property management division can take over day-to-day operations of the block, handling tenant selection, rent collection, maintenance coordination, and compliance.

To discuss a specific requirement or to enquire about off-market unit blocks currently held within the Collings network, contact the team directly:

• Phone: 03 9486 2000
• Email: info@collings.com.au
• Address: 230 Waterdale Road, Ivanhoe, VIC 3079

Enquire about off-market unit blocks by registering at collings.com.au/portal today.

Frequently Asked Questions About Blocks of Units in Mordialloc

What is the median unit price in Mordialloc in 2025?

According to DataVic/REIV data, the median unit price in Mordialloc for the April to June 2025 quarter was $670,000, representing a 14.6% year-on-year decrease and an 11.6% quarter-on-quarter decrease. This repricing may present an acquisition opportunity for investors buying whole blocks.

What is the median rent in Mordialloc?

ABS Census 2021 records a median rent of $400 per week in Mordialloc. Current 2025-2026 asking rents for individual units will vary by size, condition, and proximity to amenity. Contact Collings for a current rental appraisal.

Are blocks of units in Mordialloc good investment properties?

Mordialloc offers a combination of strong household incomes (median $2,037 per week, ABS Census 2021), coastal lifestyle appeal, and direct rail access that underpins consistent rental demand. Whole blocks provide scale, vacancy buffering, and development optionality that individual unit purchases do not.

How do I find off-market blocks of units in Mordialloc?

Many whole blocks transact off-market through agency networks. Registering with Collings Real Estate’s buyer portal at collings.com.au/portal is the most direct route to receiving off-market notifications for Mordialloc and surrounding suburbs.

What is the population of Mordialloc?

ABS Census 2021 records the population of Mordialloc at 8,886, with a median age of 40.0 years. The suburb’s relatively affluent and stable demographic profile supports sustained rental demand for quality unit accommodation.

Mordialloc is a suburb where the fundamentals are sound: bayside location, above-average household incomes, established rental demand, and a repriced unit market that may reward patient, well-researched investors. Blocks of units, in particular, offer a way to build scale in a suburb where individual unit supply remains constrained. Whether you are at the research stage or ready to transact, Collings Real Estate has the local knowledge and off-market access to help you move efficiently.