17 Bonito Ave, Long Beach, CA 90802

17 Bonito Ave, Long Beach, CA 90802

Long Beach, CA

Property Description

Lyon | Stahl is pleased to present this beautiful, fully renovated 4-plex at 17 Bonito Ave., Long Beach in Alamitos Beach.

17 Bonito has an absolutely perfect location, sitting only steps from the beach in Alamitos Beach and a short walk to the booming downtown Long Beach area. The property has been completely renovated, including being taken all the way down to the studs. Upgrades include brand new electrical, new plumbing, new gas lines, new meters and elegantly remodeled interiors.

The property is comprised of (4), large 1-bedroom/1- bath units, which are receiving strong rents but still plenty of room to grow as neighbor properties are currently receiving $2200 for their 1 bed/1 bath units. Each oversized 1 bed unit comes with hardwood flooring, granite countertops, stainless steel appliances, and large kitchens. On-site laundry room available.

Not only are the Bonito Apartments situated just steps from the ocean, but they are also adjacent to the $6 billion in new development coming to the surrounding area of Long Beach. That includes the $520 million Civic Center project, $250 million Queen Mary Island waterfront development, and $52 million Long Beach Aquarium expansion.

Do not miss out on this chance to own a beachside, trophy asset in one of Southern California’s last affordable beach communities.

Property Features

  • Sale Price: $1,350,000
  • Area Size: 3,166 SF
  • Land Area: 2,150 SF
  • Year Built: 1918
  • Closing Date: 8/30/19
  • Units: 4
  • Current GRM: 21.77
  • Current Cap Rate: 2.64%
  • Market GRM: 17.19
  • Market Cap Rate: 3.71%

Lyon Stahl Investment Real Estate

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