Cypress Villa Apartments is the acquisition and rehabilitation of an existing affordable community located in La Habra, California. It was originally constructed in 1971 and was previously renovated under the Low-Income Housing Tax Credit (Housing Credit) program in 2002. It includes 72 one- and two-bedroom garden and townhome style homes within six, two-story buildings plus a community clubhouse in an established, primarily residential neighborhood. Eight homes are restricted to renters earning up to 50 percent Area Median Income (AMI) and 63 homes are restricted to those earning up to 60 percent AMI.

The homes received substantial rehabilitation and upgrades to interior amenities. Improvements were also made to common amenities, including a central laundry facility, the clubhouse that includes a community room with kitchen, on-site management office and a computer center, as well as a swimming pool, jacuzzi and a BBQ/picnic area. One hundred and twenty-nine off-street parking spaces are also available to residents.

Cypress Villa has historically maintained an average annual occupancy of approximately 99.5 percent, which continues today with a waiting list of approximately two years in length

This property was financed using the Low-Income Housing Tax Credit (Housing Credit). Financing for Cypress Villa was facilitated by R4 Capital. The developer and administrative general partner is KDF Communities, an affordable housing development company based in Newport Beach, CA.