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10485 Santa Cruz Rd
Desert Hot Springs, CA 92240
Multifamily Property For Sale
·
4 Units
Executive Summary
Fully remodeled 4-unit income property in Desert Hot Springs, CA — 100% occupied with long-term tenants and generating $5,715/month in verified rental income. This stabilized, low-maintenance asset is an ideal addition to any investment portfolio.
The property features three studio units and one 1-bedroom/1-bathroom unit, all updated in a full 2023 renovation including kitchens and bathrooms. Tenants enjoy an attached on-site laundry room — a premium amenity that keeps vacancy low and tenants happy. Pest control service is already in place.
**Unit mix:**
- Unit #1 — Studio · $1,450/mo
- Unit #2 — Studio · $1,350/mo (lease through June 2026)
- Unit #3 — Studio · $1,425/mo
- Unit #4 — 1 Bed / 1 Bath · $1,150/mo
**Why this property stands out:**
Strong fundamentals with a 9.08% cap rate and GRM of 8.59 — well below the Coachella Valley market average of 10–12x. The debt coverage ratio sits at a healthy 1.60, making this an easy financing story for buyers. Unit #4 is currently $150 below market rent, representing approximately $1,800/year in untapped NOI at the next lease renewal — with no work required.
Desert Hot Springs continues to benefit from population growth, proximity to Palm Springs, and rising demand for affordable rentals in the Inland Empire. This is a rare turnkey opportunity in a market with strong long-term tailwinds.
**Listing price:** $589,000 · $147,250 per unit · All figures cash basis as of March 2026
The property features three studio units and one 1-bedroom/1-bathroom unit, all updated in a full 2023 renovation including kitchens and bathrooms. Tenants enjoy an attached on-site laundry room — a premium amenity that keeps vacancy low and tenants happy. Pest control service is already in place.
**Unit mix:**
- Unit #1 — Studio · $1,450/mo
- Unit #2 — Studio · $1,350/mo (lease through June 2026)
- Unit #3 — Studio · $1,425/mo
- Unit #4 — 1 Bed / 1 Bath · $1,150/mo
**Why this property stands out:**
Strong fundamentals with a 9.08% cap rate and GRM of 8.59 — well below the Coachella Valley market average of 10–12x. The debt coverage ratio sits at a healthy 1.60, making this an easy financing story for buyers. Unit #4 is currently $150 below market rent, representing approximately $1,800/year in untapped NOI at the next lease renewal — with no work required.
Desert Hot Springs continues to benefit from population growth, proximity to Palm Springs, and rising demand for affordable rentals in the Inland Empire. This is a rare turnkey opportunity in a market with strong long-term tailwinds.
**Listing price:** $589,000 · $147,250 per unit · All figures cash basis as of March 2026
Property Facts
| Price Per Unit | $205,984 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 9.08% | Lot Size | 0.25 AC |
| Sale Condition | 1031 Exchange | Building Size | 2,640 SF |
| Gross Rent Multiplier | 8.59 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | ||
| Zoning | R1 | ||
| Price Per Unit | $205,984 CAD |
| Sale Type | Investment |
| Cap Rate | 9.08% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 8.59 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 2,640 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1965 |
| Zoning | R1 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Oven
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 3 | - | 495 |
| 1+1 | 1 | - | 600 |
Property Taxes
| Parcel Number | 639-032-027 | Improvements Assessment | $503,608 CAD |
| Land Assessment | $118,495 CAD | Total Assessment | $622,103 CAD |
Property Taxes
Parcel Number
639-032-027
Land Assessment
$118,495 CAD
Improvements Assessment
$503,608 CAD
Total Assessment
$622,103 CAD
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