437 Bonito Long Beach, CA 90802
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision Alamitos Beach (Ab)
MLS Listing ID PW26097344
HOA Y/N No
Year Built 1962
Lot Size 7,339 Sqft
Property Sub-Type Apartment
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 spaces—an increasingly rare amenity in this coastal submarket.
Offered for sale for the first time in 36 years, the property now benefits from recently implemented rental increases effective July 1, 2026, bringing total monthly income to $18,089 (including garage income). At the new pricing, the property operates at an attractive 5.71% cap rate on current income, with clear potential for additional upside through continued rent growth.
Situated just blocks from the beach, dining, and retail, the property offers a highly walkable location with strong and consistent tenant demand. The existing garage structures may also present a potential opportunity for ADU conversion (buyer to verify), allowing a future owner to further enhance income and overall returns.
This is a rare opportunity to acquire a stabilized, pride-of-ownership asset at a newly adjusted basis in one of Long Beach's most sought-after rental markets.
Location
State CA
County Los Angeles
Area 4 - Downtown Area, Alamitos Beach
Interior
Heating Wall Furnace
Cooling None
Fireplaces Type None
Fireplace No
Laundry Laundry Room
Exterior
Parking Features Assigned
Garage Spaces 6.0
Garage Description 6.0
Pool None
Community Features Sidewalks
Total Parking Spaces 9
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 7266008024
Acceptable Financing Cash, Cash to New Loan
Listing Terms Cash, Cash to New Loan
Special Listing Condition Standard
NEARBY SCHOOL & BUSINESS
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