‘Money machine’: Rentvestor earns $250k/year, lives beachfront

180 Jefferson Lane, Palm Beach
It’s the ultimate holiday home complete with pool, sauna and custom skate ramp — and earned its owner a lucrative income of close to $250,000 a year as a short-term rental property.
Just 20 steps from the sand, the property at 180 Jefferson Lane, Palm Beach is owned and marketed by Harcourts Coastal agent James Massey via an expressions of interest campaign.
Mr Massey and his wife Kate purchased an original four-unit building on the 412 sqm site for $1.1m in 2015, converting it to a luxury four-bedroom, three-bathroom house.
Ultimate beach house
Multiple decks were added
It was a family home for the Masseys and their three children before they moved to a beachfront property on the same coveted stretch which they have leased since 2021, retaining no.180 as an investment.
Mr Massey said the property was approved for short-term accommodation by council, and was rented for an average of $19,480 per month.
“It’s an absolute money machine for holiday letting,” Mr Massey said.
Described as the “ultimate beach house” the renovated home’s design blends “elegance, comfort and coastal charm, all within a highly sought-after location”, the listing states.
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Features include a sprawling master bedroom with an oceanview deck, dressing room and ensuite, as well as a self-contained upstairs apartment with separate entry and kitchen.
There are three living areas, including the open-plan kitchen, living and dining zone downstairs, while a large games lounge opens onto the poolside terrace.
Mr Massey said the property averaged 70-75 per cent occupancy through the year, with nightly tariff ranging from $750 to $1500 depending on the season.
Income generated from December 2022 to June 2023 totalled $116,883.
Holidaymakers love the games room
A sauna was added
On the odd weekend it’s not booked by holidaymakers, Mr Massey’s kids are usually making use of the 3ft half pipe.
“My kids love it. The hardest part is stopping them from running over there when we have guests staying,” he said.
“It was supposed to be our forever home when we coverted the units to our dream place and we wanted to make it the ultimate beach house where you’ve got a pool, the skate ramp, and the surf.
“We never had an intention to rent it out till we realised the potential income it could produce.”
Open-plan living areas
Timber and stone benchtops in the kitchen
Mr Massey said he had lived on Jefferson Lane since he was 6 years old, and counted the street’s “friendly neighbours” as one of the property’s key selling points.
“It really was that house where the community of the lane came together and had cocktails after a day at the beach.
“We would have 15 to 20 kids minimum at our house over the weekend, just like I did in the 90s when my parents bought on Jefferson and I was lucky to be able to do the same thing as my kids, spending all weekend and holidays surfing.”

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