Home | Los Angeles County | Long Beach | 90802 | 437 Bonito
MLS: CRPW26097344 | Status: | Price: $2,595,000
Beds/Baths: – / –
Property Type: Residential Income
| Beds | Baths | Sq Ft | Sq Ft Lot | Yr Built |
|---|---|---|---|---|
| – | – | – | 7,340 | 1962 |
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.
| Field | Value |
|---|---|
| MLS # | CRPW26097344 |
| MLS Source | California Regional MLS |
| Days on Site | 8 |
| Feature | Details |
|---|---|
| Cooling | None |
| Heating | Wall Furnace |
| Feature | Details |
|---|---|
| Garage/Parking | Assigned Spaces, Garage: 6 Car(s) |
Spencer Pabst
Pabst, Kinney & Associates
License #: 01849377
Phone: –
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 10 | – |
School data provided by GreatSchools.org
| School | Type | Grades | Distance | Rating |
|---|---|---|---|---|
| Franklin Classical Middle School | public | 6-8 | 0.16 mi | 4 |
| Stevenson Elementary School | public | K-5 | 0.25 mi | 5 |
| Lincoln Elementary School | public | K-5 | 0.63 mi | 7 |
| International Elementary School | public | K-5 | 0.65 mi | 5 |
| Renaissance High School For The Arts | public | 9-12 | 0.66 mi | 8 |
| Burbank Elementary School | public | K-5 | 0.87 mi | 7 |
| Roosevelt Elementary School | public | K-5 | 1.02 mi | 5 |
| Polytechnic High School | public | 9-12 | 1.02 mi | 7 |
| Edison Elementary School | public | K-5 | 1.21 mi | 3 |
| Whittier Elementary School | public | K-5 | 1.22 mi | 5 |
| Chavez Elementary School | public | K-5 | 1.23 mi | 6 |
| Washington Middle School | public | 6-8 | 1.24 mi | 4 |
| Educational Partnership High School | public | 9-12 | 1.42 mi | 3 |
| Willard Elementary School | public | K-5 | 1.45 mi | 3 |
| Alvarado Elementary School | public | K-5 | 1.48 mi | 9 |
| Robinson Academy | public | K-8 | 1.48 mi | 5 |
| Jessie Nelson Academy | public | 6-8 | 1.56 mi | 3 |
| Mann Elementary School | public | K-5 | 1.56 mi | 7 |
| Lee Elementary School | public | K-5 | 1.62 mi | 6 |
| Burnett Elementary School | public | K-5 | 1.79 mi | 4 |
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This listing information is up-to-date as of May 05, 2026. For the most current information, please contact Spencer Pabst.