437 Bonito
Long Beach, CA 90802

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.