Real Estate Assets

3 Months Ended

Mar. 31, 2020

8. Real Estate Assets

The following tables summarize information regarding the Partnership’s real estate assets as of March 31, 2020 and December 31, 2019:

Real Estate Assets as of March 31, 2020
Property Name	Location	Number of Units		Land and Land Improvements		Buildings and Improvements		Carrying Value
Suites on Paseo	San Diego, CA		384	$	3,199,268	$	39,113,918	$	42,313,186
The 50/50 MF Property	Lincoln, NE		475		-		32,938,822		32,938,822
Land held for development		⁽¹⁾			1,701,197		-		1,701,197
								$	76,953,205
Less accumulated depreciation									(16,064,714	)
Total real estate assets								$	60,888,491

⁽¹⁾	Land held for development consists of land and development costs for parcels in Gardner, KS; Richland County, SC and Omaha, NE.

Real Estate Assets as of December 31, 2019
Property Name	Location	Number of Units		Land and Land Improvements		Buildings and Improvements		Carrying Value
Suites on Paseo	San Diego, CA		384	$	3,199,268	$	39,073,728	$	42,272,996
The 50/50 MF Property	Lincoln, NE		475		-		32,937,805		32,937,805
Land held for development		⁽²⁾			1,706,862		-		1,706,862
								$	76,917,663
Less accumulated depreciation									(15,357,700	)
Total real estate assets								$	61,559,963

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

Activity in the First Three Months of 2020

As of March 31, 2020, the land held for development in Gardner, KS was listed for sale.