REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Spencer Pabst, DRE #01849377 • Pabst, Kinney & Associates
$ 2,495,000
Est. payment /mo
Price Dropped by $100K
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
Significant Price Improvement - Compelling Coastal Investment Opportunity! 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
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
Copyright 2026 MLSListings Inc All rights reserved.