437 Bonito, Long Beach, CA 90802
List Price: $2.6M
Listing Status: Active
0Days on Market: 22
0 Bedrooms · 0 Bathrooms
Property Type: ResidentialIncome
Year Built: 1962
Lot Size: 7,340 sq ft
Garage Spaces: 6
Private Pool: Yes
MLS Number: PW26097344
About This Property
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 now features recently implemented rental increases effective July 1, 2026, bringing the total monthly rental income to $18,089 (including garage income). Based on the new income, the property operates at a 5.40% cap rate, while still offering meaningful additional upside through future rent growth. 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 strong in-place income and continued upside in one of Long Beach’s most sought-after rental markets.
Listing provided by: Spencer Pabst DRE #01849377 562-987-3244 spabst@pabstkinney.com, Pabst, Kinney & Associates
Source: CRMLS, MLS #: PW26097344
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.