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Debt - Schedule of Company's Outstanding Debt (Detail) - USD ($)
3 Months Ended
Nov. 09, 2021
Mar. 31, 2024
Dec. 31, 2023
Aug. 31, 2018
Feb. 23, 2018
Jun. 28, 2017
Debt Instrument [Line Items]            
Carrying Value   $ 160,971,974        
Debt issuance costs, net   (781,218) $ (693,229)      
Total debt, net   160,190,756 160,863,818      
JPM Mortgage Loan [Member] | Fayetteville Property [Member]            
Debt Instrument [Line Items]            
Carrying Value [1]   $ 29,500,000 29,500,000      
Debt instrument, initial interest rate   4.20% [1]       4.20%
Maturity Date [1]   Jul. 01, 2024        
Freddie Mac Utah Loans [Member]            
Debt Instrument [Line Items]            
Carrying Value [2]   $ 44,096,244 44,291,048      
Debt instrument, initial interest rate   5.06% [2]     5.06%  
Maturity Date [2]   Feb. 23, 2028        
Freddie Mac Courtyard Loan [Member]            
Debt Instrument [Line Items]            
Carrying Value [3]   $ 61,809,180 62,049,449      
Debt instrument, initial interest rate   4.86% [3]   4.86%    
Maturity Date [3]   Sep. 01, 2028        
KeyBank Bridge Loans [Member]            
Debt Instrument [Line Items]            
Carrying Value [4]   $ 25,566,550 $ 25,716,550      
Debt instrument, initial interest rate [4]   9.42%        
Maturity Date Apr. 30, 2023 Jun. 30, 2025 [4]        
[1] Fixed rate debt with interest only payments due monthly and the principal balance due upon maturity. On April 10, 2024, we entered into a $34.5 million mortgage loan with JPMorgan Chase Bank, N.A, which repaid and replaced the Company’s existing $29.5 million Fayetteville JPM Mortgage Loan. The JPM Mortgage Loan has
an initial term of one year with a maturity date of April 9, 2025. Please see Note 9 – Subsequent Events for additional details.
[2] Represents the aggregate of three separate mortgage loans for the three senior housing properties acquired in Utah. Fixed rate debt with interest only payments due monthly for the first two years, then principal and interest on a 30-year amortization schedule beginning March 2020.
[3] Fixed rate debt with interest only payments due monthly for the first four years, then principal and interest on a 30-year amortization schedule beginning September 2022.
[4] The variable rate reflected in the table was the rate in effect as of March 31, 2024.