A new residential building will soon be available on the market at 4055 Oakwood Avenue in East Hollywood, Los Angeles. The project proposal includes the development of a five-story residential building.
B. Raeen Construction Inc is responsible for the design concepts. Oakwood CA LLC is the property owner.
The project broke ground last year. Vertical construction is complete for a new five-story multifamily residential development, offering 68 residential units. The units are built as a mix of studios, one-bedroom, and two-bedroom apartments. A car parking garage with a capacity of 85 vehicles is also designed on the site.
Entitlements for the apartment complex include density bonus incentives permitting greater height and floor area than allowed by zoning rules. To obtain the incentives, 14 of the apartments are required to be set aside as deed-restricted affordable housing at the low- and very low-income levels.
The development site was previously improved with a total of 20 apartments, which were vacated via the Ellis Act, according to city records.
Renderings reveal a contemporary podium-type building clad with wood panels and stucco. The development has a U-shaped footprint, with two wings wrapping a central courtyard. Plans call for rooftop amenity decks Oakwood Avenue, while a community room is also planned for the building’s interior.
The project site is situated one block northwest of the Vermont/Beverly subway station.