News Summary
The Bascom Group LLC has successfully sold Huntington Breeze, a senior living apartment complex in Huntington Beach, for $35 million. The property features 114 units and was 96% occupied at the time of sale. Originally listed for $37 million, the complex is expected to undergo potential renovations including the conversion of areas into accessory dwelling units (ADUs). This sale reflects the ongoing demand for residential units in the area, which has seen significant price growth in both sales and rentals.
Huntington Beach Senior Living Complex Sold for $35 Million
The Bascom Group LLC, based in Irvine, has successfully sold a 114-unit senior living apartment complex, known as Huntington Breeze, for $35 million. This sale translates to approximately $307,018 per unit, according to data from CoStar. Details regarding the buyer have not been disclosed.
Located at 16171 Springdale St. in Huntington Beach, Huntington Breeze was reported to be 96% occupied at the time of its listing. The property, which was originally constructed in 1987, was put on the market with an initial asking price of $37 million before finalizing the sale at the reduced price.
Real estate professionals Joseph Berkson of Marcus & Millichap, Joe Leon of Voit Real Estate Services, and Dean Zander of Newmark collaborated in the listing of the property. Upon the recent sale, there is potential for the new owners to convert some areas of the complex into accessory dwelling units (ADUs).
This transaction marks a significant profit for The Bascom Group, which acquired Huntington Breeze in 2014 for $19 million. The company’s portfolio has seen substantial growth, with recent acquisitions including a 257-unit apartment complex in Rancho Palos Verdes for $127 million in March 2025 and The Strand Apartments in West Sacramento for $126 million in January 2025.
In March 2025, The Bascom Group launched its sixth fund, Bascom Value Added Apartment Investors VI LLC, intending to raise $76 million in equity. This fund has already invested approximately $68 million across five multifamily properties, focusing on repositioning through renovations and management improvements.
A recent report by Colliers indicates that during the first half of 2025, the average sale price per unit for multifamily properties in Orange County was $370,595. Specific to the Huntington Beach area, an apartment property sold for an average of $402,373 per unit in the first two quarters of 2025.
The continuous demand for residential units is emphasized by ongoing apartment developments in Orange County, such as The Trilogy, an 876-unit project in Irvine, and Newport Crossings, a 350-unit project in Newport Beach.
Additionally, monthly rent prices in Orange County have been climbing steadily, with the average rent reported at $2,644 last quarter. This represents an increase from $2,624 in Q1 2025 and $2,597 from Q2 2024.
As the market for senior living complexes and multifamily apartment properties continues to evolve, The Bascom Group remains actively engaged in expanding its portfolio and adapting to the needs of the community.
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Additional Resources
- Orange County Business Journal: Huntington Beach Apartments Trade for $35M
- Orange County Business Journal: Bascom Group Huntington Beach Multifamily $35 Million
- Commercial Observer: Bridge Investment Bascom $129M OC
- Google Search: Huntington Beach Senior Living Complex
- Orange County Business Journal: OC Jobless Rate Jumps
- Wikipedia: Multifamily Housing
Author: STAFF HERE HUNTINGTON BEACH
The Huntington Beach Staff Writer represents the experienced team at HEREHuntingtonBeach.com, your go-to source for actionable local news and information in Huntington Beach, Orange County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Huntington Beach Surf City USA Marathon, the U.S. Open of Surfing, Fourth of July celebrations at the Huntington Beach Pier, and community festivals at Huntington Beach Central Park. Our coverage extends to key organizations like the Huntington Beach Chamber of Commerce and Visit Huntington Beach, plus leading businesses in retail, hospitality, and outdoor recreation that drive the local economy. As part of the broader HERE network, including HEREAnaheim.com, HERECostaMesa.com, HERESantaAna.com, and HERELosAngeles.com, we provide comprehensive, credible insights into Southern California's dynamic landscape.
