Oakmont Capital, a Los Angeles-based development firm, is now midway through construction on a five-story apartment building in the Palms neighborhood.

The project, located mid-block on Dunn Drive between Washington and Venice Boulevards, replaces a single family residence and two parking lots.  The completed development will offer 40 one- and two-bedroom apartments above a surface parking lot.

A rendering of the project, which is described as the Dunn 40, shows a contemporary mid-rise building wrapping around a podium-level courtyard.

The property is located directly across the street from the 3838 apartments, a larger multifamily residential complex which is being developed by California Landmark Group.

Image via Oakmont Capital

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100 Apartments Planned in Silver Lake

Six-story development planned south of Fountain Avenue.

A local real estate firm hopes to redevelop a series of early 20th century buildings in Silver Lake with a mid-rise apartment complex.

Last week, California Landmark Group submitted an application to the City of Los Angeles to construct a six-story building at the northwest corner of Myra Avenue and Effie Street that would feature 100 apartments through the Transit Oriente