The Huntington Breeze, a 55+ active lifestyle senior-living community located at 16171 Springdale St. in Huntington Beach, has been listed for sale at $37 million, or roughly $324,500 per unit. Newmark, Voit Real Estate Services, and Marcus & Millichap are marketing the property on behalf of the seller, Bascom Group.
According to the marketing flyer, this 114-unit property provides strong occupancy rates and proximity to one of Southern California’s popular coastal communities. Built in 1987, Huntington Breeze operates at 96 percent occupancy and generates a net operating income (NOI) with a current cap rate of 4.4 percent. Based on the flyer, projections show that capturing loss to lease and implementing steady rental increases allowed under AB1482 could boost the NOI by nearly 13 percent within the first year, raising the end-of-year cap rate to 5.2 percent.
The property, which spans several buildings, provides value-added potential for investors. While 62 percent of unit interiors have already been renovated to modern standards, additional enhancements remain available to elevate the community further. The flyer suggests that improvements may include updating common areas, increasing operational efficiencies, and completing interior renovations on the remaining units.
Located in Huntington Beach, also known as Surf City USA, Huntington Breeze is close to beaches and the vibrant Huntington Beach Pier. The property offers quick access to the Vons/CVS-anchored Marina Village Shopping Center, which offers residents daily conveniences and retail options within walking distance.
Dean Zander of Newmark, Joe Leon of Voit, and Joseph R. Berkson of Marcus & Millichap are managing the sale.
Orange County’s active adult housing market remains strong, with occupancy rates averaging above 97 percent over the last five years and annual rent growth consistently exceeding 4.7 percent. CoStar Inc. forecasts that this trend will continue, with rent growth expected to average between 3 and 4 percent annually over the next five years. Despite mild downward pressure on vacancies, Orange County features the second-highest occupancy rates among the nation’s 50 largest markets, underscoring its robust demand for senior-living communities.
The overall U.S. adult housing market, particularly focusing on senior living and active adult communities, is experiencing significant growth driven by demographic changes and shifting preferences among older adults. According to the Grand View Research report, this market is valued at approximately $923 billion and is projected to grow at a compound annual growth rate (CAGR) of 4.16 percent to reach $1,224 billion by 2030.
