"It's amazing. It's so special," Graham said of living near Shepard. "It's really cool. It's just so fun. Our neighborhood is fun, and doing Parenthood with him was fun."
Graham said Shepard goes on hikes with her boyfriend, actor Peter Krause, which she finds "adorable." She also said Shepard and Bell's daughters, Lincoln and Delta, have a cool toy car.
"They have a real tough guy-lookin' Jeep kind of thing, but a Jeep for kids ... that they drive around the neighborhood," Graham shared.
"Dax is often out doing his own handyman work," she added. "He's got like a cut-off shirt and all his tattoos. He's really that guy."
Graham recalled how she once mistook Shepard for actor Brad Pitt.
"This is how I know that we'll be friends until we die," the actress said. "He was coming up the street and I was in a car and I was driving down the street. He waved at me and I was like, 'That's Brad Pitt!' For whatever reason, I thought he was Brad Pitt.
"He rolled down the window and I was like, 'I thought you were Brad Pitt.' He was like, 'I love you forever,'" she added. "Yeah, Dax is a cute guy."
Graham and Shepard played siblings Sarah and Crosby Braverman on Parenthood, which had a six-season run on NBC. Shepard said on his podcast in March 2019 that he initially turned down his role on the show to be with Bell.
Graham recently appeared on the NBC series Zoey's Extraordinary Playlist, which premiered in January. The series follows Zoey (Jane Levy), a young woman who starts to hear people's thoughts expressed as songs.
On Ellen, Graham also played a game of Burning Questions. Graham said her favorite body part on the opposite sex is the "butt."