Real Estate Assets (Tables)

12 Months Ended

Dec. 31, 2023

Real Estate [Abstract]

Real Estate Assets Owned by Partnership

The following tables summarize information regarding the Partnership’s real estate assets as of December 31, 2023 and 2022:

Real Estate Assets as of December 31, 2023
Property Name	Location	Number of Units	Land and Land Improvements		Buildings and Improvements		Carrying Value
Vantage at San Marcos	San Marcos, TX	(1)		2,660,615		946,043		3,606,658
Land held for development		(2)		1,109,482		-		1,109,482
							$	4,716,140
Less accumulated depreciation								-
Real estate assets, net							$	4,716,140

(1)The assets are owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 5 for further information.

(2)Land held for development consists of land and development costs for a parcel of land in Richland County, SC.

Real Estate Assets as of December 31, 2022
Property Name	Location	Number of Units		Land and Land Improvements		Buildings and Improvements		Carrying Value
Suites on Paseo	San Diego, CA		384	$	3,199,244	$	39,799,082	$	42,998,326
Vantage at San Marcos	San Marcos, TX	(1)			2,660,615		1,003,857		3,664,472
Land held for development		(2)			1,551,196		-		1,551,196
								$	48,213,994
Less accumulated depreciation									(11,663,516	)
Real estate assets, net								$	36,550,478

(1)The assets are owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 5 for further information.

(2)Land held for development consists of land and development costs for parcels of land in Richland County, SC and Omaha, NE.

Schedule of Net Loss Exclusive of Gains on Sale of MF Property

Net loss, exclusive of the gains on sale, related to The 50/50 MF Property and the Suites on Paseo MF Property for the years ended December 31, 2023, and 2022 was as follows:

	For the Years Ended December 31,
	2023			2022
Net loss	$	(234,776	)	$	(649,222	)