Updated Nov 5, 2025
Jason And Jennifer Romero Of Romero Holdings Acquire Development Site In Santa Monica For $2M
1310 Pico Boulevard
$2,000,000
$1,000/SF
Building Size
2,000 SF
Asset Type
Development Site
Closing
Oct 1, 2025
About this deal
AI
The property is a development site located at 1310 Pico Boulevard in Santa Monica. The sale price was $2,000,000, with a building square footage (BSF) of 6,000, leading to a price per building square foot (PPBSF) of $333. The site has a square footage (SF) of 2,000, resulting in a price per square foot (PPSF) of $1,000.
Summary of transation details:
- Property Type: Development Site
- Transaction Amount: $2,000,000
- Building Square Footage: 6,000
- Price per Building Square Foot: $333
- Square Footage: 2,000
- Price per Square Foot: $1,000
- Buyer: Jason and Jennifer Romero - Romero Holdings
- Seller: Howard M Okumura
- Brokers: Cameron Samimi & Molly First - Lyon Stahl Investment Real Estate
The transaction involved buyer Jason and Jennifer Romero, who are associated with Romero Holdings. The sellers were Howard M Okumura. Cameron Samimi and Molly First from Lyon Stahl Investment Real Estate represented the buyers in this deal.
On the Map
$2,000,000
$1,000/SF
Development Site
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Players
Santa Monica Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
7.93%
Cash-on-Cash
-2.27%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93