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437 Bonito
For Sale $2,595,000
$2,595,000
- Unknown Bedrooms
- Unknown Bathrooms
- Unknown Sq Ft
- 7,340 Sq Ft
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.
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Amenities
Garage
Pool
Garden
Security System
Internet
Telephone
Heating
Fireplace
Balcony & Patio
TV / Cable
Laundry
Hardwood Floors
Spa
Air Conditioning
Solar Power
Floor Plan
Great Views
Natural Light
Quiet
Water View
Elevator
Guest Unit(s)
Furnished
220 Volt
Property Details
| List Price | $2,595,000 |
| Property Type | Condo/Co-Op |
| Usable Sqft | Unknown |
| Number of Stories | 2 stories |
| Parking Spots | 6 spots |
| Year Built | 1962 |
| Last Sold | Unknown |
| Sold Price | Unknown |
| APN # | 7266008024 |
| MLS # | PW26097344 |
| Property ID | 322819774 |
| Lot Sqft | 7,340 |
| Zoning | Unknown |
| Total Units | 10 |
| Days on Market | 4 |
| Original List Price | $2,595,000 |
| Date Updated | May 05, 2026 |
| Date Created | May 05, 2026 |
| Unit # | Beds | Baths | Current Rent | Proforma Rent |
| Unit #1 | $16,651 | $0 |
| Net Income (Yr) | $ 205,212 |
Listing Provided By
Spencer Pabst an agent of . Lic #01849377
© 2026 CRMLS. All rights reserved. Some listings on this website are from CRMLS as of May 05, 2026 The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Robert Crawford
REAL ESTATE AGENT