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Listed by Spencer Pabst, DRE #01849377 • Pabst, Kinney & Associates
$ 2,595,000
Est. payment /mo
New
437 Bonito Long Beach, CA 90802
7,340 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRPW26097344
Year Built 1962
Lot Size 7,340 Sqft
Source California Regional MLS
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. The property is being offered for sale for the first time in 36 years and provides strong in-place income with a current 5.02% cap rate, along with immediate and future upside potential. All units are eligible for rent increases beginning July 1, 2026, bringing the cap rate to approximately 5.56%, with further potential to reach a 6.62% market cap. 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 both strong day-one cash flow and long-term upside 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
Laundry In Laundry Room
Exterior
Parking Features Assigned Spaces
Garage Spaces 9.0
Pool None
Building
Water District - Public
Others
Tax ID 7266008024
Special Listing Condition Not Applicable
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