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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

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Small Lot Homes to Replace Triplex in Silver Lake

The development site is located just south of Fountain Avenue.
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A series of early 20th century buildings in Silver Lake could make way for a new development of small lot homes.

The project, filed earlier this week with the City of Los Angeles, would replace a triplex at 1756-1762 Griffith Park Boulevard with 12 single-family residences.