Greetings, Beverly Grove residents and fellow real estate enthusiasts! Nathan Derry, your dedicated Realtor, is back with the latest insights into the local real estate scene. Let's unravel the numbers and discover the potential opportunities in Beverly Grove for January 2024.

Absorption Rate Tale: 11%

In the dynamic landscape of Beverly Grove, the absorption rate for January 2024 stood at 11%. Among the 29 active listings, 3 properties successfully transitioned to new owners, marking a subtle yet steady market activity. With an average sales price of $3,838,600 and a reasonable 51 Days on Market (DOM), Beverly Grove continues to showcase its allure.

The Beverly Grove Appeal

What makes Beverly Grove a perennial favorite? Its central location, luxury residences, and a blend of historic and modern architecture contribute to the neighborhood's timeless appeal. From upscale boutiques on Melrose Avenue to the tranquility of residential streets, Beverly Grove offers a lifestyle that caters to diverse tastes.

Unlocking Opportunities: AB 1033 and ADUs

For savvy homeowners in Beverly Grove, there are strategic moves to consider. Assembly Bill 1033 (AB 1033) offers a valuable opportunity for property tax relief. If you've invested in seismic retrofit improvements, AB 1033 allows you to exclude the increased value resulting from these upgrades when determining your property taxes. It's not just about safety but also about smart financial planning.

Adding an Accessory Dwelling Unit (ADU) is another avenue to explore. Beverly Grove, with its spacious properties, presents an ideal canvas for ADU construction. Beyond the immediate benefits of increased property value, an ADU opens up possibilities for rental income or creating a dedicated space for guests.

Navigating Beverly Grove's Real Estate Landscape

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With a nuanced market like Beverly Grove, understanding the local dynamics is crucial. Whether you're considering a sale, a purchase, or strategic property improvements, having a Realtor by your side can make all the difference.

Let's Connect!

Have questions about Beverly Grove's real estate market or contemplating a move? I'm here to provide guidance tailored to your goals. Whether you're drawn to the luxury properties or navigating the intricacies of AB 1033 and ADUs, I'm your go-to resource for all things Beverly Grove.

Cheers to Beverly Grove and the exciting possibilities it holds!

Nathan Derry, Your Beverly Grove Real Estate Companion 🏡✨

📍JohnHart Real Estate

📞(424) 303-0440

📧 itsnathanderry@gmail.com 

🤖 nathan@jhagents.com

👨🏽‍💻 itsnathanderry.com

Interested in seeing a property or one of my off market properties in person? Contact me today!  Who you hire matters!!!

Ready to make the best move of your life… let’s chat today!