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Twin Cypress Apartments 4649 Voltaire St 18 Unit Apartment Building $7,700,000 ($427,778/Unit) 4.05% Cap Rate San Diego, CA 92107
Executive Summary
Twin Cypress is an exceptionally well-maintained 18-unit apartment community located in the highly desirable coastal neighborhood of Ocean Beach, San Diego. The gated property features a balanced mix of one- and two-bedroom apartment homes surrounding a large courtyard. Professionally managed by Torrey Pines Property Management
for approximately 40 years, Twin Cypress has benefited from consistent ownership and proactive maintenance, including a recently installed fire alarm system with notification devices in each apartment. The property offers spacious, functional floor plans and a straightforward value-add opportunity through cosmetic kitchen and common area upgrades. The current pro forma market rents assumes no significant interior or exterior renovations and no capital expenditures beyond customary unit-turnover costs. Additional improvements to the building exterior and common areas would further enhance the property’s appeal and support rental rates above the stated projections.
Residents enjoy walkable access to Ocean Beach's eclectic mix of boutique shopping, local cafés, and restaurants, including Pizza Port, Hodad's, Newbreak Coffee and OB Surf Lodge. The property is also walking distance from the iconic Ocean Beach Pier, weekly Farmers Market, and sandy beaches, offering an authentic coastal lifestyle that continues to drive strong renter demand.
for approximately 40 years, Twin Cypress has benefited from consistent ownership and proactive maintenance, including a recently installed fire alarm system with notification devices in each apartment. The property offers spacious, functional floor plans and a straightforward value-add opportunity through cosmetic kitchen and common area upgrades. The current pro forma market rents assumes no significant interior or exterior renovations and no capital expenditures beyond customary unit-turnover costs. Additional improvements to the building exterior and common areas would further enhance the property’s appeal and support rental rates above the stated projections.
Residents enjoy walkable access to Ocean Beach's eclectic mix of boutique shopping, local cafés, and restaurants, including Pizza Port, Hodad's, Newbreak Coffee and OB Surf Lodge. The property is also walking distance from the iconic Ocean Beach Pier, weekly Farmers Market, and sandy beaches, offering an authentic coastal lifestyle that continues to drive strong renter demand.
Property Facts
| Price | $7,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $427,778 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 4.05% | Building Size | 14,150 SF |
| Gross Rent Multiplier | 14.15 | No. Stories | 2 |
| No. Units | 18 | Year Built | 1968 |
| Property Type | Multifamily | Parking Ratio | 1.27/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM-1-1 | ||
| Price | $7,700,000 |
| Price Per Unit | $427,778 |
| Sale Type | Investment |
| Cap Rate | 4.05% |
| Gross Rent Multiplier | 14.15 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 14,150 SF |
| No. Stories | 2 |
| Year Built | 1968 |
| Parking Ratio | 1.27/1,000 SF |
| Zoning | RM-1-1 |
Amenities
Unit Amenities
- Dishwasher
- Disposal
- Heating
- Ceiling Fans
- Kitchen
- Tub/Shower
- Carpet
Site Amenities
- Controlled Access
- Laundry Facilities
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 675 |
| 2+1 | 8 | - | 850 |
| 2+2 | 2 | - | 975 |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 448-544-31 | Improvements Assessment | $1,224,000 |
| Land Assessment | $6,120,000 | Total Assessment | $7,344,000 |
Property Taxes
Parcel Number
448-544-31
Land Assessment
$6,120,000
Improvements Assessment
$1,224,000
Total Assessment
$7,344,000
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