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The Real Deal Los Angeles

Investor plans 49-unit condo complex in Brentwood

Google Earth images show that construction is already underway
By Cathaleen Chen | April 26, 2017 01:30PM

Construction at 11965 W. Montana Ave (Credit: Google Earth)

A local investor wants to build a 49-unit condo project in Brentwood, city filings show.

An entity registered to Benhoor Elyashar, who also has two multifamily projects in the works in Koreatown, filed plans Tuesday for a new structure at 11965 W. Montana Avenue. Google Earth images from January 2017 show that some type construction was already underway at the address.

The development would include four affordable units, according to planning documents, and calls for a density bonus of 13 units.

Elyashar acquired the site, then occupied by a 32-unit complex, in 2011 for $8.9 million, according to Real Capital Analytics. In 2015, he refinanced the development alongside joint venture partner Saman Kerendian, who was named as the applicant on the latest city filing.

Elyashar, under his firm Kian Investments, filed plans last June to develop a six-story, 69-unit apartment complex at 926 South Kingsley Drive in Koreatown. The following September, he filed plans for another project nearby: a five-story, 32-unit apartment complex at 708 and 712 South Gramercy Drive.