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.