Private Investor Acquires 114-Unit Senior Housing Community In Huntington Beach For $35M

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.