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Affordable Housing Between USC & Sofi Stadium 1021-1025 W Florence Ave 0.22 Acres of Commercial Land Online Auction Sale Los Angeles, CA 90044
Investment Highlights
- Discover an entitled multifamily-zoned (C2-2D-CPIO) two-parcel 0.22-acre site featuring RTI permits for a 55-unit affordable housing project.
- Capitalize on a shovel-ready development with approved plans, no parking requirements, and strong demand for affordable housing.
- Privately funded and free of public housing subsidies or tax credits, offering investors and developers a streamlined path to project execution.
- Transit-Oriented Community (TOC), supporting efficient development due to no on-site parking requirement and dedicated long-term bike parking.
- Positioned in South-Central Los Angeles with convenient access to Downtown LA, USC, major employment hubs, and regional freeway networks.
Executive Summary
Unlock a rare multifamily development opportunity at 1021–1025 W Florence Avenue in Los Angeles, California. This attractive offering features a 9,000-square-foot two-parcel site with a ready-to-issue (RTI) permit for a fully entitled 55-unit affordable housing project. Zoned C2-2D-CPIO, the site is well-positioned for residential and multifamily use.
The approved plans call for a five-story, 30,341-square-foot apartment building with 54 one-bedroom units and one studio unit, enhanced with NFPA 13-compliant sprinkler systems throughout. Situated within a Tier 3 Transit-Oriented Community (TOC), the project benefits from a no-parking requirement and includes 34 long-term bicycle parking spaces, thereby maximizing development efficiency and unit yield. Importantly, this development is privately funded, requires no public housing subsidies, and has not received tax credits, offering investors a unique, streamlined path forward.
Located in the heart of historic South-Central Los Angeles, 1021–1025 W Florence Avenue is situated within one of the city's most dynamic and evolving neighborhoods. The area is home to a strong residential base, a rich cultural heritage, and major institutions, including the University of Southern California (USC), one of the nation's leading universities.
Residents enjoy excellent connectivity to nearby dining and shopping in Downtown Los Angeles, USC, entertainment at SoFi Stadium, employment centers, and regional transportation networks like the Amtrak and Metro. Once recognized as a cornerstone of the West Coast jazz movement, historic South Los Angeles today offers a vibrant mix of historic character, community amenities, and convenient access to major freeways, making it an attractive location for future housing development.
Property tours are available by appointment only. Please contact the listing broker to schedule.
The approved plans call for a five-story, 30,341-square-foot apartment building with 54 one-bedroom units and one studio unit, enhanced with NFPA 13-compliant sprinkler systems throughout. Situated within a Tier 3 Transit-Oriented Community (TOC), the project benefits from a no-parking requirement and includes 34 long-term bicycle parking spaces, thereby maximizing development efficiency and unit yield. Importantly, this development is privately funded, requires no public housing subsidies, and has not received tax credits, offering investors a unique, streamlined path forward.
Located in the heart of historic South-Central Los Angeles, 1021–1025 W Florence Avenue is situated within one of the city's most dynamic and evolving neighborhoods. The area is home to a strong residential base, a rich cultural heritage, and major institutions, including the University of Southern California (USC), one of the nation's leading universities.
Residents enjoy excellent connectivity to nearby dining and shopping in Downtown Los Angeles, USC, entertainment at SoFi Stadium, employment centers, and regional transportation networks like the Amtrak and Metro. Once recognized as a cornerstone of the West Coast jazz movement, historic South Los Angeles today offers a vibrant mix of historic character, community amenities, and convenient access to major freeways, making it an attractive location for future housing development.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Title and Insurance
- Miscellaneous
Property Facts
| Property Type | Land | Total Lot Size | 0.22 AC |
| Property Subtype | Commercial | Sale Condition | Auction Sale |
| Sale Type | Investment | Type of Ownership | Fee Simple |
| Zoning | C2-2D-CPIO | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Sale Type | Investment |
| Total Lot Size | 0.22 AC |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Zoning | C2-2D-CPIO |
1 Lot Available
Lot
| Lot Size | 0.22 AC | Parcel Numbers | 6014-036-014, 6014-036-015 |
| Lot Size | 0.22 AC |
| Parcel Numbers | 6014-036-014, 6014-036-015 |
Moderately walkable
60/100
Exceptionally drivable
100/100
Strong public transit
80/100
Fairly bikeable
50/100
Sale Advisor
Sale Advisor
Reza Ghobadi, Executive Vice President
Reza Ghobadi
Executive Vice President | Colliers International
The Ghobadi Investment Team
With more than 30 years of negotiation experience and nearly two decades specializing in investment real estate, Reza Ghobadi is a trusted advisor to investors, developers, and institutions across Los Angeles County. He focuses on the acquisition and disposition of multifamily properties and development land throughout Los Angeles, San Fernando Valley, and the Tri-Cities markets of Burbank, Glendale, and Pasadena. Since launching his commercial real estate career in 2006, Ghobadi has built a reputation for delivering strategic guidance, maximizing asset value, and successfully navigating complex transactions. He was recognized as Rookie of the Year early in his career and has consistently ranked among the firm’s top producers, culminating in his promotion to Executive Vice President in 2022. Prior to joining Colliers, Ghobadi was an entrepreneur who owned and operated a successful hospitality and transportation company employing more than 50 professionals. This operational background provides him with a unique owner’s perspective, allowing him to advise clients not only as a broker, but as a business strategist focused on long-term investment performance.
Throughout his career, Ghobadi has held progressively senior brokerage and leadership roles, including Director of Special Asset Services, where he specialized in the disposition of distressed assets and REO properties during challenging market cycles. His experience across multiple market conditions enables clients to make informed decisions in both expansionary and transitional environments. Fluent in English, Swedish, and Farsi, Ghobadi serves a diverse international client base and has cultivated long-standing relationships with private investors, family offices, developers, and institutional owners throughout the Los Angeles Basin. His commitment to integrity, market knowledge, and results-driven execution has earned him a loyal following and consistent industry recognition.
Executive Vice President | Colliers International
The Ghobadi Investment Team
With more than 30 years of negotiation experience and nearly two decades specializing in investment real estate, Reza Ghobadi is a trusted advisor to investors, developers, and institutions across Los Angeles County. He focuses on the acquisition and disposition of multifamily properties and development land throughout Los Angeles, San Fernando Valley, and the Tri-Cities markets of Burbank, Glendale, and Pasadena. Since launching his commercial real estate career in 2006, Ghobadi has built a reputation for delivering strategic guidance, maximizing asset value, and successfully navigating complex transactions. He was recognized as Rookie of the Year early in his career and has consistently ranked among the firm’s top producers, culminating in his promotion to Executive Vice President in 2022. Prior to joining Colliers, Ghobadi was an entrepreneur who owned and operated a successful hospitality and transportation company employing more than 50 professionals. This operational background provides him with a unique owner’s perspective, allowing him to advise clients not only as a broker, but as a business strategist focused on long-term investment performance.
Throughout his career, Ghobadi has held progressively senior brokerage and leadership roles, including Director of Special Asset Services, where he specialized in the disposition of distressed assets and REO properties during challenging market cycles. His experience across multiple market conditions enables clients to make informed decisions in both expansionary and transitional environments. Fluent in English, Swedish, and Farsi, Ghobadi serves a diverse international client base and has cultivated long-standing relationships with private investors, family offices, developers, and institutional owners throughout the Los Angeles Basin. His commitment to integrity, market knowledge, and results-driven execution has earned him a loyal following and consistent industry recognition.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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Auction Contact
Molly Patten
Contact
Auctioneer License:
Ten-X Jessica Figueroa RE Brkr 01937601. Ten-X Auction Surety Bond 106465786
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Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
Contact the Sale Advisor
Affordable Housing Between USC & Sofi Stadium | 1021-1025 W Florence Ave
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Affordable Housing Between USC & Sofi Stadium | 1021-1025 W Florence Ave
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