Horizon Studios

Fully Entitled 104-Unit Affordable Housing Conversion in Buena Park, CA

RAD Commercial Realty exclusively presents Horizon Studios—a rare, fully entitled, and shovel-ready 104-unit motel-to-affordable-studio conversion situated on a spacious 1.7-acre site at 7039 Orangethorpe Avenue, Buena Park, CA 90621.

Offered unpriced (Best Offer) via a competitive Call for Offers, this adaptive-reuse development carries zero entitlement risk. Featuring an approved Conditional Use Permit (CUP), cleared EIR, completed demolition, rough plumbing already installed, and building permits ready to pull, Horizon Studios represents an immediate, high-upside acquisition for private developers, LIHTC syndicates, and non-profit housing sponsors.

• Call for Offers Deadline: Monday, August 10, 2026, by 5:00 PM PT (Offers due no later than Aug 20, 2026)

• Asking Price: Best Offer (Unpriced Offering)

• Offering Structure: Submit best-and-final offer with proof of funds, capital stack summary, and target closing timeline.

Investment At-A-Glance & Property Specifications

Key Property & Entitlement Metrics

Key Investment Highlights & Strategic Drivers

1. Zero Entitlement Risk — 100% Shovel-Ready

• CUP Approved: Approved unanimously (5-0 vote) by the Buena Park Planning Commission under Resolution No. 6398 / CUP No. CU-25-10.

• CEQA Cleared: Environmental review is finalized under Final Focused EIR-25-1.

• Permits Ready to Pull: Architectural and engineering plans are fully approved by municipal authorities. There is zero plan-check risk remaining.

2. Significant Head Start on Construction Schedule

• Interior Demolition Completed: Site strip-down is already finished.

• Rough Plumbing Installed: Kitchenette rough-in and core plumbing work have been executed throughout all 104 units, materially shortening the construction schedule and reducing execution risk.

3. Deep Capital Stack & Subsidy Compatibility

• Guaranteed Rental Income Stream: All 104 units are structured to accept Section 8, HUD-VASH, and tenant-based rental assistance vouchers, eliminating vacancy drag and rental collection risk.

• LIHTC Equity Eligibility: Positioned for upcoming California Tax Credit Allocation Committee (CTCAC) Low-Income Housing Tax Credit application rounds.

• Built-in Mission Partner (HVOA): Signed MOU with Homeless Veterans of America (HVOA) enables the buyer to access VA Grant Per Diem (GPD), HUD-VASH, and VA Transition-in-Place (TIP) operating grants.

• State Grant Options: Additional HCD grant funding programs available for non-profit and mission-driven housing buyers.

4. California Density Bonus Optimization

Utilizing California Density Bonus Law (Gov. Code §65915), the project successfully doubled its yield to ~60 dwelling units per acre (~104 total units on 1.7 acres) while securing reduced parking requirements (78 stalls) tailored for affordable studio communities.

Project Layout & Unit Structure

                               +----------------------------------------------+
                               ¦       HORIZON STUDIOS (104 TOTAL UNITS)      ¦
                               ¦   7039 Orangethorpe Ave, Buena Park, CA      ¦
                               +----------------------------------------------+
                                                      ¦
                   +---------------------------------------------------------------------+
                   ?                                                                     ?
+------------------------------------------+                          +------------------------------------------+
¦        62 VETERAN PREFERENCE UNITS       ¦                          ¦        42 GENERAL POPULATION UNITS       ¦
+------------------------------------------¦                          +------------------------------------------¦
¦ Deed-Restricted (30%–120% AMI)           ¦                          ¦ Workforce & Market-Rate Rent Potential   ¦
¦ Section 8 / HUD-VASH / VA GPD Eligible   ¦                          ¦ Full Access to On-Site Amenities         ¦
¦ Supported by HVOA Partnership MOU        ¦                          ¦ High-Demand Orange County Rental Market  ¦
+------------------------------------------+                          +------------------------------------------+

Renovation Scope & Modern Community Amenities

The project transitions an existing hospitality asset into a modern, supportive, and highly functional residential community.

Interior Conversion Scope

• Complete interior renovation across both residential buildings (modern kitchenette installations, upgraded full baths, contemporary flooring, and energy-efficient fixtures).

• Life-safety upgrades, upgraded fire/egress systems per approved CUP conditions, and a new centralized trash enclosure.

On-Site Amenities & Guest Experience

• Swimming Pool & Deck Area

• Pickleball Court

• Outdoor Courtyard & BBQ Lounge

• Community Clubhouse Room

• On-Site Fitness Center

• Secured Mail & Package Room

• Dedicated On-Site Manager Unit

Prime Orange County Location & Housing Demand

Situated in the heart of Buena Park, CA, Horizon Studios benefits from robust local economic drivers and severe regional housing supply constraints:

• Major Regional Employers: Minutes from world-class tourism, hospitality, and service centers including Knott's Berry Farm, Disneyland Resort, and major industrial parks in North Orange County.

• Turnkey Operations Assembled: Qualified third-party management (Trillium Property Management) and local general contractors familiar with the asset are available to ensure seamless lease-up and execution on Day 1.

Contact Listing Brokerage

To request access to the Virtual Data Room (VDR)—containing the detailed Schedule of Values, CUP resolutions, architectural plan sets, bonding status, and MOU documentation—please contact the exclusive listing agent:

Majid Radaei

Managing Broker — Principal

RAD Commercial Realty

• Direct Line: (818) 334-2111

• Email: majid@radcre.com

• Property Location: 7039 Orangethorpe Avenue, Buena Park, CA 90621