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Listed price in listed location currency (USD).
$2,595,000

009

MLS® PW26097344

  • Key Facts
  • Description
  • Map

Key Facts

Type Apartment
Levels Residential Income
Size -
Garage Yes
HOA Fees 
Taxes 
Days Active 0
Approx. Age 1962
MLS® Number PW26097344

Property Address: 437 Bonito, Long Beach, CA, 90802

Average square foot calculated using Size range provided by listing agent.

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.
MLS® NumberPW26097344
Locker
Ensuite Laundry
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageYes
Approx. Age1962
Stories2
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

May 5, 2026List Date
$2,595,000List Price

Home Appraisal

This property is estimated to sell between: $634,000 and $3,576,000.
Similar properties in this area sold on average for: $634,883
Expected to sell in 111 days. Similar properties sold in 111 days. This home has been on eXp Realty for 0 days.

The estimated sale price does not take into account many variables such as recent renovations, type of appliances, school district etc. To get a more accurate estimate please contact agent.

  • Commute

Commute

Starting Address
Destination Address
437 Bonito, Long Beach, CA

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