Horizon Studios
Ownership is soliciting qualified acquisition proposals from experienced multifamily developers, affordable housing operators, institutional investors, nonprofit housing organizations, family offices, opportunity funds, and private equity firms capable of completing this shovel-ready redevelopment project.
Horizon Studios 104-Unit Affordable Housing Development Opportunity in Buena Park, California
Business Name
Horizon Studios
Industry
Website
Address
Country: United States
Address Line 1: 7039 Orangethorpe Avenue
Address Line 2:
City: Buena Park
State: California
ZIP Code: 90621
Years in Business
57 (Originally constructed in 1968)
Real Estate For Sale
Sales Price
Best Offer
Describe Your Business
Horizon Studios is a fully entitled 104-unit adaptive reuse and affordable housing development located in Buena Park, California, within the highly desirable Orange County market. The project transforms an existing motel into a professionally designed affordable studio housing community featuring 104 residential units, extensive community amenities, and long-term income potential supported by public housing programs.
Unlike most redevelopment opportunities, Horizon Studios has already eliminated many of the largest development risks. The project has received approval through Conditional Use Permit No. CU-25-10 (Resolution No. 6398), successfully completed its environmental review, and has approved architectural and engineering plans ready for building permit issuance.
Construction is already underway, including demolition and rough plumbing for future kitchenettes, allowing investors to significantly reduce development timelines compared to traditional ground-up multifamily construction.
Project highlights include:
104 affordable studio apartments
1.7-acre development site
Housing Incentive Overlay zoning
78 parking spaces
Swimming pool
Pickleball court
Community room
Fitness room
BBQ courtyard
On-site manager unit
Mail room
Approved CUP
Approved environmental review
Approved building plans
Construction already underway
The project has also established a signed Memorandum of Understanding (MOU) with Homeless Veterans of America (HVOA), creating opportunities to pursue VA-supported housing initiatives while expanding affordable housing availability throughout Orange County.
For investors searching for affordable housing developments, multifamily development opportunities, adaptive reuse projects, commercial real estate investments, LIHTC projects, Section 8 housing investments, workforce housing, veteran housing developments, or multifamily businesses for sale, Horizon Studios represents one of Southern California's most compelling redevelopment opportunities.
Why Are You Selling?
Ownership is soliciting qualified acquisition proposals from experienced multifamily developers, affordable housing operators, institutional investors, nonprofit housing organizations, family offices, opportunity funds, and private equity firms capable of completing this shovel-ready redevelopment project.
The property's entitlement process has already been substantially completed, reducing permitting risk and allowing future ownership to immediately focus on vertical construction, lease-up, financing execution, and long-term operations.
Several factors distinguish this investment from traditional multifamily development opportunities:
Fully approved Conditional Use Permit
Completed environmental review
Approved architectural plans
Building permits ready to pull
Construction already in progress
Existing utility infrastructure
Adaptive reuse strategy
Reduced entitlement risk
LIHTC eligibility
HUD-VASH eligibility
Section 8 voucher compatibility
Veteran housing partnership
Housing Incentive Overlay zoning
California Density Bonus benefits
Strong Orange County housing demand
Future ownership may pursue multiple capital sources including Low-Income Housing Tax Credits (LIHTC), HUD financing, VA housing grants, California Housing and Community Development (HCD) programs, tax-exempt bonds, affordable housing financing, commercial construction loans, institutional equity, and public-private partnership financing.
How Will the Funds be Used?
Acquisition and development financing may be utilized for:
Property acquisition
Affordable housing development
Motel-to-apartment conversion
Interior renovations
Kitchenette installation
Bathroom modernization
Mechanical upgrades
Electrical improvements
Fire life safety systems
Accessibility improvements
Community amenity construction
Landscaping
Property management startup
Lease-up expenses
Working capital
Affordable housing compliance
Construction financing
LIHTC equity execution
HUD financing
Commercial real estate financing
Following completion, Horizon Studios will provide permanent affordable housing while generating long-term stabilized cash flow supported by Orange County's significant housing shortage and multiple government-backed rental assistance programs.
Annual Revenue
Projected Upon Stabilization
Timeline
Immediately
Primary Contact
First Name: Majid
Last Name: Radaei
Email: majid@radcre.com
Phone: (818) 334-2111
Link
Notes
RAD Commercial Realty is accepting best-and-final offers. Qualified purchasers should provide proof of funds, development experience, proposed capital stack, and estimated closing timeline. Comprehensive due diligence materials, approved plans, environmental reports, entitlement documentation, construction schedules, and consultant reports are available through the secure data room following execution of a Non-Disclosure Agreement (NDA).
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