Real Estate Assets (Tables)

6 Months Ended

Jun. 30, 2017

Real Estate [Abstract]

Real Estate Assets Owned by Partnership

The following tables summarizes information regarding the Partnership’s real estate assets at June 30, 2017 and December 31, 2016:

Real Estate Assets at June 30, 2017
Property Name	Location	Number of Units			Land and Land Improvements		Buildings and Improvements		Carrying Value on June 30, 2017
Eagle Village	Evansville, IN		511		$	567,880	$	12,665,500	$	13,233,380
Residences of DeCordova	Granbury, TX		110			1,170,337		8,039,373		9,209,710
Residences of Weatherford	Weatherford, TX		76			1,942,229		5,767,980		7,710,209
Suites on Paseo	San Diego, CA		394			3,166,463		38,397,243		41,563,706
The 50/50 MF Property	Lincoln, NE		475			-		32,932,982		32,932,982
Jade Park	Daytona, FL		144			2,292,035		7,375,451		9,667,486
Land held for development	(1)		(1	)		1,590,273		-		1,590,273
									$	115,907,746
Less accumulated depreciation										(16,367,265	)
Total real estate assets									$	99,540,481

¹ Land held for development consists of parcels of land in Johnson County, KS and Richland County, SC and land development costs for a site in Douglas County, NE.

Real Estate Assets at December 31, 2016
Property Name	Location	Number of Units			Land and Land Improvements		Buildings and Improvements		Carrying Value on December 31, 2016
Eagle Village	Evansville, IN		511		$	567,880	$	12,655,244	$	13,223,124
Northern View	Highland Heights, KY		294			688,539		8,088,059		8,776,598
Residences of DeCordova	Granbury, TX		110			1,170,337		8,029,404		9,199,741
Residences of Weatherford	Weatherford, TX		76			1,942,229		5,751,260		7,693,489
Suites on Paseo	San Diego, CA		394			3,162,463		38,365,351		41,527,814
The 50/50 MF Property	Lincoln, NE		475			-		32,928,878		32,928,878
Jade Park	Daytona, FL		144			2,292,035		7,270,845		9,562,880
Land held for development	(2)		(2	)		7,531,104		-		7,531,104
									$	130,443,628
Less accumulated depreciation										(16,217,028	)
Total real estate assets									$	114,226,600

Net income, Exclusive of the Gains on Sale

Net income (loss), exclusive of the gains on sale related to the Arboretum, Woodland Park (sold in July 2016) and Northern View MF Properties, for the three and six months ended June 30, 2017 and 2016 are as follows:

	For the Three Months Ended June 30,					For the Six Months Ended June 30,
	2017			2016		2017			2016
Net income (loss)	$	(15,444	)	$	114,601	$	(18,735	)	$	287,153