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$ 2,595,000
Est. payment /mo
Active
437 Bonito Long Beach, CA 90802
4 Beds
4 Baths
7,340 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW26097344
Bedrooms 4
Lot Size 7,340 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
Well-maintained 10-unit property located in the highly desirable Alamitos Beach neighborhood of Long Beach. The building features an attractive unit mix of (9) 1-bedroom/1-bath units and (1) 2-bedroom/1-bath unit, along with 6 single-car garages and 3 carport spacesan increasingly rare amenity in this coastal submarket. The property is being offered for sale for the first time in 36 years and now features recently implemented rental increases effective July 1, 2026, bringing the total monthly rental income to $18,089 (including garage income). Based on the new income, the property operates at a 5.40% cap rate, while still offering meaningful additional upside through future rent growth. Located just blocks from the beach, dining, and retail, the property benefits from consistent tenant demand and a highly walkable location. Additionally, the existing garage structures may offer potential for ADU conversion (buyer to verify), providing an opportunity to further increase income and maximize value. Ideal for investors seeking a stable coastal asset with strong in-place income and continued upside in one of Long Beachs most sought-after rental markets.
Location
State CA
County Los Angeles
Zoning Assessor
Direction 4th Street to Bonito Ave.
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 7266008024
Acceptable Financing Cash
Listing Terms Cash
Listed by Spencer Pabst, DRE#01849377 Pabst, Kinney & Associates
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