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Twin Cypress Apartments - Ocean Beach 4649 Voltaire St 18 Unit Apartment Building $7,700,000 ($427,778/Unit) 4.22% Cap Rate San Diego, CA 92107
Investment Highlights
- Prime Coastal San Diego Location - Ocean Beach
- Strong Unit Mix: 50% 2Bdrm Units, 50% 1Bdrm Units + Ample Onsite Parking (18) Spaces
- Fully Gated Community w/ Secure Access + Large Common Area Courtyard & Onsite Laundry
- Value-Add Opportunity, Over 20% Upside in Rents
- Extremely Well Maintained, Low Maintenance Asset
- Excellent Walkability to Shops, Dining and Nightlife (WalkScore of 81) Near Newport Ave & Ocean Beach Pier
Executive Summary
Located in one of San Diego’s most sought after submarkets (Ocean Beach) the Twin Cypress Apartment Community has everything an investor looks for. This well-maintained 18-unit asset features large units, ample off-street parking, and both significant upside in rental income and long term appreciation. Tenant amenities include a fully gated and secure complex with a large common area courtyard, onsite laundry, and walkability to the Ocean Beach Pier as well as the trademark vibrant and iconic shops that make Ocean Beach unique and trendy. The property consists of one (1) 2Bedroom / 2Bathroom 900sf unit, eight (8) 2Bedroom / 1Bathroom 775sf units, and nine (9) 1Bedroom / 1Bathroom 625 sf units. Twin Cypress is a sizable coastal asset appealing to Buyers who are searching for a professionally managed property in a premium coastal location with substantial upside in value.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$563,280
|
$39.57
|
| Other Income |
$4,233
|
$0.30
|
| Vacancy Loss |
$17,025
|
$1.20
|
| Effective Gross Income |
$550,488
|
$38.67
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$225,253
|
$15.82
|
| Net Operating Income |
$325,235
|
$22.85
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $563,280 |
| Annual Per SF | $39.57 |
| Other Income | |
|---|---|
| Annual | $4,233 |
| Annual Per SF | $0.30 |
| Vacancy Loss | |
|---|---|
| Annual | $17,025 |
| Annual Per SF | $1.20 |
| Effective Gross Income | |
|---|---|
| Annual | $550,488 |
| Annual Per SF | $38.67 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $225,253 |
| Annual Per SF | $15.82 |
| Net Operating Income | |
|---|---|
| Annual | $325,235 |
| Annual Per SF | $22.85 |
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 | 4.22% | Building Size | 14,236 SF |
| Gross Rent Multiplier | 13.57 | 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 | 4.22% |
| Gross Rent Multiplier | 13.57 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 14,236 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
Site Amenities
- Controlled Access
- Laundry Facilities
- Bicycle Storage
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 9 | $3,065 | 650 |
| 2+1 | 8 | $2,841 | 900 |
| 2+2 | 1 | $3,065 | 1,000 |
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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 (2026) |
| Land Assessment | $6,120,000 (2026) | Total Assessment | $7,344,000 (2026) |
Property Taxes
Parcel Number
448-544-31
Land Assessment
$6,120,000 (2026)
Improvements Assessment
$1,224,000 (2026)
Total Assessment
$7,344,000 (2026)
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