Beverly Hills

Known as the “Garden Spot of the World,” “BevHills,”or (by one of its postal codes) 90210, Beverly Hills is recognized all over the world for being a major hub of wealth and glamor. Situated near Los Angeles, it has always set itself apart from its busier neighbors by having a distinct character that has attracted some of the most famous names from around the globe to call it home.

A brief history

Beverly Hills was first populated by Tongva Indians, and even then, it was held in high regard for being an abundant source of freshwater. It was fed by four streams snaking around and through three canyons, which made it an ideal paradise for vegetation and wild game for subsistence. Then the Spanish arrived and named the basin the “Gathering of the Waters” or El Rodeo de las Aguas.

In 1838, El Rodeo de las Aguas was deeded as a land grant by the California governor to Maria Rita Valdez Villa, an African-Mexican icon who is also called the Foremother of Beverly Hills. Upon receiving it, she built a ranch house near what is now known as Sunset Boulevard and Alpine Drive, and on this ranch, she gardened and raised cattle and horses. She also held annual rodeos from under a eucalyptus tree in what is now called Pico and Robertson Boulevards.

When Maria Rita was forced to sell her land because of an altercation with some Native Californian outlaws, it went from owner to owner, including one that attempted to establish a North African-themed subdivision called Morocco. The venture never got off the ground because it was ill timed. The US economy collapsed in 1888, which led the owners to sell the land to a group of investors who were looking for oil.

Burton E. Green and his co-investors didn’t find oil, but they did find a lot of water – and they believed it was enough to build a town around it. So in 1906, they changed their name to Rodeo Land and Water Company, and renamed the land they bought to Beverly Hills, inspired by Beverly Farms in Massachusetts. Green brought in city planners, who started building the wide streets that curve around the surrounding hills that Beverly Hills is now famous for.

Today, Beverly Hills has a population of 31,896, according to the 2021 data of the United States Census Bureau. Among these residents are some of the most beloved names in entertainment, including Adele, Phil Collins, and Taylor Swift.

Beverly Hills, CA real estate

The first house in Beverly Hills was built in 1907, but it wasn’t until 1912 that homes for sale in Beverly Hills, California became in demand. Around this time, the Beverly Hills Hotel was constructed, right at the site of the basin where the waters once gathered. The hotel served not only as the premier accommodation in the area, but also as a community center, worship venue, and movie house.

A couple of years later, movie stars Mary Pickford and Douglas Fairbanks purchased a Summit Drive lot and built their home. Other celebrities followed their example shortly after. In 1919, the construction of the Los Angeles Speedway or the Beverly Hills Speedway drew even more people to the area.

Beverly Hills was incorporated as a city in 1914.

A balanced market

As of July 2022, real estate in Beverly Hills, California represents a balanced market.

In such a scenario, the available supply of homes is enough to meet the available demand from buyers. This is a good thing, as it can influence the exchange of services on the market. For instance, sellers will be more than reasonable, buyers can expect stable prices, and the investment can be considerable for both parties.

Investing in Beverly Hills real estate

If you’re looking to buy a home in Beverly Hills, now is the best time to look through some of the most desirable houses in the area to find the ideal fit. First off, home appreciation rates in the area have been on an upward trend since 2000. In fact, properties have appreciated by more than 180% since that year, with an average annual appreciation rate of nearly five percent.

Similarly, Wallet Investor forecasts that the long-term investment potential of a Beverly Hills property is at 6.82% per year. This means that by 2027, a home can sell for over $4.8 million, and five years after, this value can go up to nearly $6 million.

The neighborhoods with the highest appreciation rates are as follows:

• Beverly Hills Southeast
• Beverly Hills South
• Beverly Hills East
• Beverly Hills Southwest
• Trousdale Estates
• Beverly Hills Flats
• Beverly Hills Post Office / City Center

The city also has a sizable rental market, which means that there will be a lot of people who could rent your property, if you end up snagging one of the homes for sale in Beverly Hills, California.

According to data from NeighborhoodScout.com, there are more renters (56.7%) than homeowners (43.3%) in the city. Even more interesting: the average monthly rent in the area is over $4,000 per month.

The most expensive neighborhoods are:

• Beverly Hills Flats
• Trousdale Estates
• Beverly Hills South
• Beverly Hills Southeast
• Beverly Hills Southwest
• Beverly Hills East
• Beverly Hills Post Office / City Center

Almost half of the properties in Beverly Hills are apartment complexes, followed by single-family homes, and small apartment buildings, as well as the finest examples of Beverly Hills luxury real estate. Most homes were built between the 1940s and the 1970s, with the majority of them having one to two bedrooms.

Living in Beverly Hills

From songs to TV shows, much has been said about living in Beverly Hills. If you’re one of the lucky few that plan to call this city home, you’d be happy to know that there are a lot of great things you can look forward to.

Beverly Hills lives up to its reputation when it comes to wealth and glamor

The per capita income and median household income is considerably higher in Beverly Hills, particularly when compared to the rest of the United States.

Per capita income, for example, is at $84,954 in the city, while it is only $35,384 for the whole USA. Median household income, on the other hand, is at over $100,000 in Beverly Hills and only around $65,000 for the rest of the country.

These numbers mean that if you intend to flip one of the available luxury homes in Beverly Hills for a profit, you can expect to find a ready target market that can more than meet your price point.

Beverly Hills is a diverse community

About 35% of its residents were born outside of the country, and Iranian is the most dominant ancestry. Persian and Spanish are the most spoken languages after English, and you’ll find a healthy mix of people from all age groups.

It’s also one of the Best Places to Live in California. In fact, Beverly Hills ranks within the top 50 for the Best Places to Retire in California and Best Suburbs for Young Professionals in California, according to Niche.com’s rankings.

Why Beverly Hills is one of the best places to live in California

• Education

In a city where there are only about 16 schools, Beverly Hills invests more in education compared to the rest of the country. Educational expenditure per student is at over $15,800, while the national average is only around $12,000.

Additionally, four of its elementary and middle schools were ranked among the best in California by US News & World Report. The report measured math and reading proficiency, as well as math and reading performance. Parents can be assured of getting a quality education when they send their K-8 students to the following schools:

• El Rodeo Elementary School
• Hawthorne Elementary School
• Horace Mann Elementary; and
• Beverly Vista Middle School

• Weather

If you don’t like the cold, there are a lot of incentives for you to search through the best houses in Beverly Hills and invest in one of them. Living in this city means enjoying 278 days of sunshine a year, with 0 inches of snow and only about 16 inches of rain. The US, on average, gets only 205 sunny days, with 28 inches of snow, and 38 inches of rain a year.

Summer in the city is particularly pleasant; in fact, it has a score of 9.8 (out of 10, the best score) from BestPlaces.net. Overall, the comfort index in Beverly Hills is 9.3 out of 10. July temperatures can go as high as 80 degrees, while winter lows are recorded at only 48 degrees.

• Outdoor activities

While it spans an area of only about 15 square kilometers, the city has quite a lot to offer when it comes to outdoor activities. If you buy a home in Beverly Hills, you can enjoy Beverly Gardens Park, which has jogging and walking paths, as well as rose and cactus gardens, the Electric Fountain, and several public art installations. Among the most prominent of the latter is Jaume Plensa’s “Endless V” stainless steel sculpture, which features a seated thinking figure.

You can also drop by the Virginia Robinson Gardens, one of the luxury homes in Beverly Hills. Constructed in 1911, it is now listed on the National Register of Historic Places. You can book a guided tour to take you along the five gardens of the estate, including the Italian Terrace Garden, the Rose Garden, and the Tropical Palm Garden.

Similarly, you can explore another registered historical landmark in the Greystone Mansion & Gardens. With over 19 acres of city-owned parkland, it features a majestic fountain and pool, and comes with beautiful gardens and a courtyard. Its grounds have been in several films, such as “Spider-Man,” “The Big Lebowski,” and “The Bodyguard.”

You can opt to drive to nearby Los Angeles for more adrenaline-pumping activities like hiking, biking, and more.

• Dining and nightlife

Another reason to invest in Beverly Hills luxury real estate is the plethora of dining and nightlife options that live up to the city’s distinct reputation for elevated living.

There’s The Roof at EDITION, where you can lounge under the sun on a terraced deck by day and with wellness and low-proof spirit cocktails by night. It also serves Latin and tropical-inspired cuisine, fused with Californian staples such as citruses.

You can also head on over to Beauty & Essex, where you can feast on multi-ethnic dishes in a space that sprawls 10,000 square feet on North Cahuenga Boulevard. Al fresco seating is also available, which will allow you to enjoy natural lighting from a 20-foot skylight. If you want an intimate dinner date, you can also book their private dining room.

The Terrace at The Maybourne Beverly Hills is another great destination, especially for those who want their wine menu extensive and impressive. Indulge and relax with a classic cocktail, or enjoy scones and prawns in a beautiful garden enclave that is widely considered to be one of the best restaurants in the area.

• Shopping

Finally, it won’t be right to imagine purchasing one of the homes for sale in Beverly Hills, California without thinking about the amazing shopping experiences you can have in this city, all within the Golden Triangle. The world-famous Rodeo Drive is where you need to go to score some Gucci, Armani, Cartier, or Prada – or you can go to Two Rodeo Drive where you’ll find Tiffany & Co, Versace, and Jimmy Choo.

If you’re looking for luxury retail, there’s Saks Fifth Avenue and Neiman-Marcus on the south of the Golden Triangle. Or if you want something more low-key and local, Beverly and Canon Drives have local boutiques and open-air cafes.

Partner with a Beverly Hills real estate professional

To fully capitalize on one of the homes for sale in Beverly Hills, California, it is best that you identify your specific goals. If you want a home for you and your family, you’ll want to approach the process differently than you would if you were looking to flip a Beverly Hills luxury real estate property.

For this reason, it is important that you partner with a trusted real estate professional. A local who specializes in Beverly Hills properties will be able to walk you through not only the best options that match your goals, but also help you understand key market trends that can impact the success of your investment.

As the Beverly Hills market is a balanced market, a reliable Realtor will also help make sure that you stand to gain from the dynamics of the buying and selling process, so that you won’t need to worry about agreeing to unreasonable terms. Additionally, working with a professional helps protect you from shelling out more than what you need to.

I, Brielle Liv of The Liv Lux Group, offer extensive experience in assisting buyers like you in finding their dream property, whether for personal use or for investment. Committed to providing personalized service, I will meticulously guide you through every facet of the process, so that you can optimize your investment and ensure that it brings you nothing short of the results that you want.

Do you have a specific neighborhood in mind? Or perhaps you have been eyeing a particular property and want to know if it’s available for purchase? Whatever it is, I can help you. Call 424.527.7177 or contact me here to get started on acquiring that dream home.