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Private Investor Acquires 114-Unit Senior Housing Community In Huntington Beach For $35M
SOLD
$35,000,000
California
See Similar DealsSenior Housing
Sold 07/11/2025
SOLD
Private Investor Acquires 114-Unit Senior Housing Community In Huntington Beach For $35M
16171 Springdale Street
See Similar DealsSenior Housing
Sold 07/11/2025
Summary
CALIFORNIA
Asset Type:Senior Housing
Transaction Type:Sale
The Huntington Breeze senior-living community, consisting of 114 units, is located at 16171 Springdale Street in Huntington Beach. It was acquired for $35 million, translating to approximately $307,000 per unit. The property is notable for its 96% occupancy rate and potential for renovations, situated in a strong location within the competitive senior housing market of Orange County.
Summary of transaction details:
- Property Type: Senior Housing
- Transaction Amount: $35,000,000
- Units: 114
- Price Per Unit: $307,018
- Seller: David Kim - The Bascom Group
A private investor from Tarzana has successfully acquired the property, which reflects a $2 million reduction from the original asking price due to a softening market. This transaction highlights ongoing investor interest within the region's senior housing sector despite market challenges.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,866,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$124,347.60
Cash-on-Cash Return-1.27%
Monthly Debt Service$165,917.86
Annual Debt Service$1,991,014.27
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