SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 8 - K

                                 Current Report
                     Pursuant To Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

        Date of report (Date of earliest event reported) : March 26, 2001

                               CALPROP CORPORATION
             (Exact name of registrant as specified in its charter)

         California                       1-6844                 95-4044835
-------------------------------   ------------------------   -------------------
(State or other jurisdiction of   (Commission File Number)    (I.R.S. Employer
incorporation or organization)                               Identification No.)

13160 Mindanao Way, Suite 180, Marina Del Rey, California              90292
---------------------------------------------------------          -------------
(Address of principal executive offices)                             (Zip Code)

       (Registrant's telephone number, including area code) (310) 306-4314
                                                            --------------

                                 Not Applicable
              (Former name, former address and former fiscal year,
                         if changed since last report.)


ITEM 5. OTHER EVENTS.

      On March 26, 2001, Calprop Corporation issued a press release announcing
its results of operations for the quarter and the year ended December 31, 2000
and discussing certain other matters. The press release is filed as an exhibit
hereto.

ITEM 7. EXHIBITS.

      The following exhibits are filed with this current report on Form 8 - K:

      Exhibit No.             Description
      -----------             -----------

         99             Press Release dated March 26, 2001 issued by Calprop
                        Corporation

                                   SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                CALPROP CORPORATION

                By: /s/ Mark F. Spiro
                    ---------------------------------------------
                    Mark F. Spiro
                    Vice President/Secretary/Treasurer
                    (Chief Financial and Accounting Officer)
                    March 26, 2001


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