ML Shepard Manor Senior Apartments is a new construction, 90-unit affordable housing development in the Watts neighborhood of South Central Los Angeles. The property provides safe, high-quality housing for an active senior population (aged 55 years and older), and contains a centrally located community room.

The property consists of two three-story buildings in the Watts neighborhood of South Central Los Angeles at the southwest corner of Santa Ana Boulevard and South Mona Boulevard.

51,175 net rentable sq ft .

Watts is an urban community that has been fully developed for 30 years and is the focus of two redevelopment plans by the City of Los Angeles. Quality developments in the area are fully occupied and affordable units are in high demand and rarely vacant. All of the units are affordable to households at 35% to 50% of the area median income.

Capital Vision Equities LLC is a full service real estate development and consulting group that specializes in the construction and rehabilitation of low-income and market-rate housing in greater Los Angeles.

$12,000,000

• Phoenix Realty Tax Credit Fund II, LP is managed by Phoenix Realty Group LLC, a national real estate investment firm providing capital and expertise to urban developers for the creation of middle-market for-sale housing, urban smart growth development, low-income tax credit housing, and community revitalization projects.
• Capital Vision Equities, LLC