Edmond Bina of BRC Advisors has announced the sales of 12431 Rochester Avenue, a vacant retail site in West Los Angeles.

The property, located at the northeast corner of Centinela Avenue and Santa Monica Boulevard, was purchased for more than $7 million by Simon Lazar and Sam Mostadim of the development Oakmont Capital.  The property is entitled for a 50-unit apartment building, featuring a mixture of one- and two-bedroom units.

A groundbreaking for the project is anticipated later this year.

The project, which is being designed by Reed Architectural Group, is portrayed as a contemporary five-story building clad with stucco and metal siding.

Rendering by Reed Architectural Group
Image via Google Maps

From the Web

Long-Vacant Property in South L.A. Poised for Mixed-Use Development

Plans call for 160 apartments and a full-service grocery store.

A two-acre lot in South Los Angeles that has been vacant since the early 1990s could finally be in line for development.

The Economic and Workforce Development Department has recommended that the the City of Los Angeles enter into an exclusive negotiating agreement with 94B, LLC for the sale of the City-owned property at 9402-9422 S.