February 2021 Fourplex of the Month

142 Bonito Avenue Long Beach, 90803

In Alamitos Beach, a highly sought-after neighborhood in the continuing revitalizing City of Long Beach, you’ll find 142 Bonito Ave. Built in 1921, this beautiful fourplex with classic architecture does an amazing job of blending the modern amenities and fixtures with the original architecture.

The Location: Alamitos Beach

The neighborhood was laid out in the 1920s, and many of its buildings date back to that era. 

As a result, the experience of living here is to feel the human scale of its often-quaint two-story-building setting, with many conveniences only a short walk away. Alamitos Beach stretches from Ocean Boulevard on the south to 4th Street on the north, from Junipero Avenue on the east and Alamitos Boulevard on the west. The bordering neighborhoods are the East Village Arts District, Bluff Park and Bluff Heights. Downtown Long Beach and Belmont Shore are also easily accessible from Alamitos Beach.

The Property: 142 Bonito Ave

142 Bonito Ave. consists of four large (928 SF) 1 bedroom, 1 bathroom units with large walk-in closets and laundry rooms. Completely renovated in 2007, all four units are in “like new” condition which have been newly painted and include laminate flooring, remodeled bathrooms, and updated fixtures. This city currently reflects 98% occupancy and large one-bedroom units in this location are in highest demand. 

One critical thing to note in Alamitos Beach is whether the property comes with deeded parking, as parking can sometimes be scarce. In this case, there is no parking. However, as a corner lot, residents of this property have the benefit of having double the street in front of your house allowing the resident double the parking opportunity. 

Located steps from the ocean, restaurants, parks, and coffee shops, and a short walk to Downtown, this property is in a prime location.

Currently there are three fourplexes on the market, and one in escrow at $1,498,000 in the 90802 zip code.

In the last 12 months, there have been nine fourplex sales in the 90802 zip code.

The average sales price of the fourplexes in this area in 2020 is $1,203,397. This is a $79,050 (or 5%) increase from 2019, where the average sales price was $1,146,433. We chose this fourplex because of its synergistic blend of the original classic architecture with the modern amenities and fixtures inside.  We appreciate properties that provide maximum value to its residents, and we want to commend the owners who make it all possible by continually improving their property. 

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