437 Bonito Ave Long Beach, CA 90802
North Alamitos Beach NeighborhoodEstimated payment $14,662/month
Highlights
- 0.17 Acre Lot
- Laundry Room
- Wall Furnace
- Long Beach Polytechnic High School Rated A
- Rectangular Lot
About This Home
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.
Listing Agent
Pabst, Kinney & Associates Brokerage Phone: 562-884-6875 License #01849377 Listed on: 05/05/2026
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1962
Lot Details
- 7,340 Sq Ft Lot
- Two or More Common Walls
- Rectangular Lot
Parking
- 3 Open Parking Spaces
- 6 Car Garage
- Parking Available
- Assigned Parking
Home Design
- Apartment
- Entry on the 1st floor
Interior Spaces
- 6,016 Sq Ft Home
- 2-Story Property
- Laundry Room
Bedrooms and Bathrooms
- 11 Bedrooms
- 10 Bathrooms
Utilities
- Wall Furnace
Listing and Financial Details
- Tax Lot 5
- Tax Tract Number 5765
- Assessor Parcel Number 7266008024
- Seller Considering Concessions
Community Details
Overview
- 10 Units
- Alamitos Beach Subdivision
Building Details
- 10 Leased Units
- 11 Separate Electric Meters
- 11 Separate Gas Meters
- 1 Separate Water Meter
- Gross Income $18,139
- Net Operating Income $217,668
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $14,235 | $964,969 | $414,843 | $550,126 |
| 2024 | $13,606 | $946,049 | $406,709 | $539,340 |
| 2023 | $13,360 | $927,500 | $398,735 | $528,765 |
| 2022 | $12,571 | $909,315 | $390,917 | $518,398 |
| 2021 | $12,277 | $891,486 | $383,252 | $508,234 |
| 2019 | $12,101 | $866,036 | $371,886 | $494,150 |
| 2018 | $11,727 | $849,076 | $364,595 | $484,481 |
| 2016 | $10,787 | $815,156 | $350,439 | $464,717 |
| 2015 | $10,376 | $802,913 | $345,176 | $457,737 |
| 2014 | $10,350 | $787,186 | $338,415 | $448,771 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 06/15/2026 06/15/26 | Price Changed | $2,495,000 | -3.9% | $415 / Sq Ft |
| 05/05/2026 05/05/26 | For Sale | $2,595,000 | -- | $431 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: PW26097344
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The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information
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