Updated October 3, 2026. 331 E. Carson Street in Long Beach is offered at $1,199,000. It is one parcel carrying three income addresses: a street-front commercial space the owner occupies, and two residential units that are tenant occupied. Anand Chhabria has the listing, co-listed with Neil Chhabria.
What is the property?
A mixed use building of approximately 3,832 square feet on a single APN, in the Bixby Knolls district of Long Beach. About 2,922 square feet of commercial space is available at close. The two residential units convey subject to their existing tenancies.
The commercial side is already built out. It holds eleven private offices ranging from 58 to 301 square feet, which is an unusual floor plan for a building this size and the reason it suits a practice or an agency more than an open-plan user.
What can the commercial space be used for?
The parcel is zoned LBCCA, Community Commercial Automobile-Oriented. The offering memorandum lists these among the permitted uses:
- Professional services, including medical office and urgent care
- Basic retail sales
- Fitness centers and health clubs
- Indoor amusement facilities up to 6,000 square feet
- Restaurants without a drive-through
- Live-work units
- Banks, daycare and professional schools
Zoning language changes and a specific business operation can carry conditions the zone itself does not spell out. Confirm any intended use with the City of Long Beach before you write an offer.
What does the location give a tenant or an owner?
The building sits on the Bixby Knolls corridor, inside a Business Improvement District with more than 800 established businesses. Trader Joe’s is 710 feet away. The State EDD office nearby brings daily foot traffic. The I-405 on-ramp is 1.1 miles south, and Virginia Country Club is 0.54 miles away.
Who buys a building like this?
Four buyers, by the offering memorandum’s own read:
- An owner-user. Occupy the commercial space, keep the two residential units leased, and turn a monthly occupancy cost into equity in an owned asset.
- An investor. Three separate income streams on one APN, in an established Long Beach commercial submarket, eligible for a 1031 exchange.
- A golf-adjacent business. Indoor amusement facilities are permitted by right, which includes uses like miniature golf and virtual reality rooms, and Virginia Country Club is about half a mile away.
- A live-work buyer. Live-work units are permitted by right, so an owner can run the business and live on site.
What the numbers say
The offering memorandum puts gross income at $98,240 against the $1,199,000 asking price, for a 5.4 percent cap rate. Those figures were provided by the seller and have not been independently verified. A full rent roll and expense detail are available on request.
Gross income against the asking price works out to about 8.2 percent. The 5.4 percent cap is what is left after expenses, so the memorandum is carrying roughly $33,000 a year in operating costs. Check that against the expense detail before you price your own offer.
How do I get the full offering memorandum?
The offering memorandum covers the unit mix, the floor plan, the zoning detail and the location analysis. Tell us where to send it and it goes straight to your inbox. Anand handles these inquiries, with Neil copied.
Common questions
Is 331 E. Carson Street eligible for a 1031 exchange?
The offering memorandum lists a 1031 exchange among the available terms. Whether an exchange works for your situation is a question for your own CPA and your qualified intermediary, not for a listing agent.
Are the residential units delivered vacant?
No. Both residential units are tenant occupied and convey subject to the existing tenancies. The commercial space is owner occupied. Review every lease and the applicable Long Beach tenancy rules with qualified counsel before you write.
How do I see the building?
Showings are by appointment with 24 hour notice, because the commercial space is in use and the residential units are occupied. Contact Anand Chhabria at 310-704-1395 or anand@chhabriare.com.
Questions on zoning, the rent roll or the floor plan. There is no obligation, and we will follow up once.
Listing and disclosures
Listing agent Anand Chhabria, DRE #01908741. Co-listing Neil Chhabria, DRE #01821437. Chhabria Real Estate Company, DRE #01923145. Equal Housing Opportunity.
All information from sources deemed reliable but not verified by broker and subject to change, prior sale or withdrawal without notice. Square footage and lot size approximate, per assessor, MLS and third-party measurement records; buyer to verify independently. Income and expense figures provided by seller and not independently verified. Residential units are tenant occupied and convey subject to existing tenancies; buyer to review all leases and applicable law with qualified counsel. Buyer to confirm all zoning and permitted uses with the City of Long Beach. Nothing here is tax, legal or investment advice.
