Most parts of Cypress are great. The busiest portions are along Lincoln(east-west) and Valley View(north-south) and the area directly around Cypress College is the lowest cost housing(college students). I'd probably avoid living off Lincoln unless it was west of Walker or Moody.
There is no train station in Cypress. Are you looking for Metrolink or LA Metro? Assuming Metrolink, the nearest station is
Buena Park or maybe
Norwalk. Either station will take some time to get to with regular road traffic, and it depends on where you live in Cypress(I'd estimate 15-20min).
As far as apartment communities, it's hard to say, many apartments are small and privately owned or managed by small property management companies. The complexes I'm most familiar with are off Bloomfield north of Ball Rd. There are a few nice complexes between Ball and Lincoln there, and it's a fairly quiet area. That area would probably put you closer to the Norwalk Metrolink station. Other apartments are near Cypress College(Lincoln, Valley View, Orange, and Holder are the bordering streets and are full of apts) and are choice housing for the young college students. This area would be closer to the Buena Park station.