The Bascom Group LLC, an Irvine-based real estate investment company, sold a 114-unit senior living apartment complex in Huntington Beach for $35 million, or $307,018 per unit, according to CoStar data. The buyer was not disclosed.
Huntington Breeze at 16171 Springdale St. had been under The Bascom Group’s ownership since 2014, when the real estate investment company bought the multifamily property for $19 million.
Marketing materials for Huntington Breeze show that the senior living property was built in 1987 and 96% occupied at the time the property was listed. New ownership could convert some spaces within the building into accessory dwelling units, or ADUs.
The property was listed for $37 million.
Huntington Breeze was listed by Joseph Berkson of Marcus & Millichap, Joe Leon of Voit Real Estate Services and Dean Zander of Newmark.
The Bascom Group
The Bascom Group bought a 257-unit apartment complex in Rancho Palos Verdes for $127 million in March, giving the Irvine-based company an expanded presence in Southern California. In January, it also acquired The Strand Apartments in West Sacramento for $126 million.
Bascom Value Added Apartment Investors VI LLC is The Bascom Group’s sixth fund and was launched in March. The fund sought to raise $76 million in equity and owned five multifamily properties with about $68 million invested.
The fund, according to a statement by The Bascom Group, would “acquire apartment properties throughout the U.S. that can be repositioned through value-add renovations, management improvements, recovery from being over leveraged and distressed, or may be trading at a significant discount.”
Orange County’s Multifamily Report
The average per unit sale price for an Orange County multifamily property, for the first half 2025, was $370,595, according to a July 17 Colliers report. A Huntington Beach apartment property sold for an average of $402,373 per unit, for the first two quarters of the year, also per Colliers.
Some new apartment developments underway in Orange County include The Trilogy, an 876-unit property in Irvine, and Newport Crossings, a 350-unit multifamily project in Newport Beach.
Monthly rents have been trending upwards in Orange County, with the latest Colliers multifamily report showing the average rate for a unit, countywide, was $2,644 last quarter, up slightly from $2,624 in Q1 2025 and $2,597 in Q2 2024.
