13548 Caliente Dr 8 Unit Apartment Building $1,982,223 CAD ($247,778 CAD/Unit) 4.28% Cap Rate Desert Hot Springs, CA 92240

3548 Caliente Dr is an 8-unit garden-style apartment community located in the Palm Springs submarket of Desert Hot Springs, California. Built in 1990, the property consists of a single-story, low-rise building totaling approximately 5,120 square feet, with an average unit size of 641 square feet. The community is comprised entirely of one-bedroom units, offering an efficient and consistent unit mix that appeals to the area’s strong renter demand.
The property provides covered parking for all eight units and features individual utility metering, allowing residents to pay their own utilities and helping reduce operating expenses for ownership. The property has a walk score of 72, indicating a very walkable location with convenient access to nearby retail, services, and local transportation options.
Desert Hot Springs continues to benefit from its proximity to Palm Springs and the broader Coachella Valley, an area known for tourism, hospitality, and steady population growth. With limited vacancy in the immediate submarket and a predominantly workforce renter base, the property presents investors with the opportunity to acquire a stable, income-producing asset with potential for operational improvements and rental upside.