Real Estate Assets (Tables)

9 Months Ended

Sep. 30, 2021

Real Estate [Abstract]

Real Estate Assets Owned by Partnership

The following tables summarize information regarding the Partnership’s real estate assets as of September 30, 2021 and December 31, 2020:

Real Estate Assets as of September 30, 2021
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	$	39,456,777	$	42,656,045
The 50/50 MF Property	Lincoln, NE		475		-		32,964,752		32,964,752
Vantage at Hutto	Hutto, TX	(1)			3,115,891		-		3,115,891
Land held for development		(2)			1,675,997		-		1,675,997
								$	80,412,685
Less accumulated depreciation									(20,181,951	)
Net real estate assets								$	60,230,734

⁽¹⁾       The land is 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 in Gardner, KS; Richland County, SC and Omaha, NE.

Real Estate Assets as of December 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	$	39,375,298	$	42,574,566
The 50/50 MF Property	Lincoln, NE		475		-		32,940,854		32,940,854
Land held for development		(1)			1,675,997		-		1,675,997
								$	77,191,417
Less accumulated depreciation									(18,150,215	)
Net real estate assets								$	59,041,202

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