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.