Local developer Oakmont Capital is putting the finishing touches on Archer, a new multifamily residential building near the border between Los Angeles and Santa Monica.

The project, located at the northeast corner of Santa Monica Boulevard and Centinela Avenue, consists of a five-story building containing 50 one- and two-bedroom apartments - including five deed-restricted affordable units - above two levels of basement parking.

According to a project website, rents for the property will range from $3,150 to $4,650 per month for the market-rate units.

Reed Architectural Group designed the podium-type building, which is clad in stucco, painted metal panels, and concrete.

On-site amenities include a gym and a rooftop deck, according to the project website.

Oakmont Capital is developing a series of similar multifamily developments in the Palms neighborhood, including three mixed-use projects at 3547, 3565, and 3664 Overland Avenue.