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Transit-Oriented RTI Affordable Housing Site 8304 S Broadway 0.14 Acres of Commercial Land Online Auction Sale Los Angeles, CA 90003
Investment Highlights
- 8304 S Broadway is an RTI development opportunity for a 30-unit, 100% affordable multifamily project featuring 22 one-bedroom units and 8 studios.
- Privately funded RTI project not subject to prevailing wages, allowing developers to move directly into permitting and construction.
- Tier 2 TOC-designated site zoned LAC2 for multifamily development with V-A construction on two parcels totaling approximately 0.14 acres.
- Transit-oriented infill site with immediate access to Interstates 110 and 10, Firestone Station, Union Station, LAX, and Long Beach Airport.
- Ideally located in an established residential market with 75% renter occupancy and continued household growth projected through 2030.
Executive Summary
Seize the rare opportunity to acquire a fully entitled, Ready-to-Issue (RTI) affordable housing development site at 8304 S Broadway in Los Angeles, California. The approved project calls for a 30-unit, 100% affordable multifamily community totaling approximately 15,865 square feet, with a thoughtfully designed unit mix of 22 one-bedroom units and eight (8) studios. Estimated to be developed as a four-story building with type V-A construction.
As an RTI project, the entitlement process has already been completed, allowing a developer to move directly into permitting and construction. Additionally, the proposed plans are privately funded and not subject to prevailing wage requirements, providing potential cost and timing advantages.
Situated on two parcels totaling 6,130 square feet (0.14 acres), 8304 S Broadway features level topography and is zoned LAC2 for multifamily residential development. The site also benefits from its designation as a Tier 2 Transit-Oriented Community (TOC), enhancing the value of this well-positioned urban infill opportunity. Plans include 28 long-term and 4 short-term bicycle parking spaces to support transit-oriented living.
8304 S Broadway offers exceptional regional connectivity with immediate access to Interstate 110 and convenient connections to Interstate 10, providing seamless travel throughout Southern California. Residents will benefit from proximity to Firestone Station, Los Angeles Union Station, LAX, and Long Beach Airport, creating seamless access to employment centers, educational institutions, and out-of-town destinations.
Located in the established Canndu/Avalon Gardens neighborhood, the site benefits from a walkable residential setting with convenient access to Exposition Park, USC (University of Southern California), Huntington Park, schools, well-known retailers, and public transportation. The area's affordability, connectivity, and everyday amenities make it an attractive location for future residents.
Supporting the long-term appeal of the offering, the surrounding market is characterized by a strong renter base, with 75% of nearby housing occupied by renters within a one-mile radius. Combined with the region's ongoing need for affordable housing, transit accessibility, and established residential infrastructure, 8304 S Broadway presents a compelling opportunity to deliver much-needed housing in one of Los Angeles' most supply-constrained markets.
Property tours are available by appointment only. Please contact the listing broker to schedule.
As an RTI project, the entitlement process has already been completed, allowing a developer to move directly into permitting and construction. Additionally, the proposed plans are privately funded and not subject to prevailing wage requirements, providing potential cost and timing advantages.
Situated on two parcels totaling 6,130 square feet (0.14 acres), 8304 S Broadway features level topography and is zoned LAC2 for multifamily residential development. The site also benefits from its designation as a Tier 2 Transit-Oriented Community (TOC), enhancing the value of this well-positioned urban infill opportunity. Plans include 28 long-term and 4 short-term bicycle parking spaces to support transit-oriented living.
8304 S Broadway offers exceptional regional connectivity with immediate access to Interstate 110 and convenient connections to Interstate 10, providing seamless travel throughout Southern California. Residents will benefit from proximity to Firestone Station, Los Angeles Union Station, LAX, and Long Beach Airport, creating seamless access to employment centers, educational institutions, and out-of-town destinations.
Located in the established Canndu/Avalon Gardens neighborhood, the site benefits from a walkable residential setting with convenient access to Exposition Park, USC (University of Southern California), Huntington Park, schools, well-known retailers, and public transportation. The area's affordability, connectivity, and everyday amenities make it an attractive location for future residents.
Supporting the long-term appeal of the offering, the surrounding market is characterized by a strong renter base, with 75% of nearby housing occupied by renters within a one-mile radius. Combined with the region's ongoing need for affordable housing, transit accessibility, and established residential infrastructure, 8304 S Broadway presents a compelling opportunity to deliver much-needed housing in one of Los Angeles' most supply-constrained markets.
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 | 0.14 AC |
| Property Subtype | Commercial | Sale Condition | Auction Sale |
| Sale Type | Investment | Type of Ownership | Fee Simple |
| Zoning | LAC2 | ||
| Property Type | Land |
| Property Subtype | Commercial |
| Sale Type | Investment |
| Total Lot Size | 0.14 AC |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Zoning | LAC2 |
1 Lot Available
Lot
| Lot Size | 0.14 AC | Parcel Numbers | 6031-035-018, 6031-035-019 |
| Lot Size | 0.14 AC |
| Parcel Numbers | 6031-035-018, 6031-035-019 |
Moderately walkable
60/100
Exceptionally drivable
90/100
Good public transit
70/100
Fairly bikeable
40/100
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.
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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
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Transit-Oriented RTI Affordable Housing Site | 8304 S Broadway
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