Investment Property and Accumulated Depreciation (Notes)

12 Months Ended

Dec. 31, 2014

Investment Property and Accumulated Depreciation [Abstract]

Investment Property

Note E – Investment Property and Accumulated Depreciation

			Initial Cost
			To Partnership
			(in thousands)
Description	Encumbrances (in thousands)		Land		Buildings and Related Personal Property		Net Cost Capitalized Subsequent to Acquisition (in thousands)
Colony at Kenilworth Apartments	$	22,638	$	1,306	$	13,187	$	17,452

	Gross Amount At Which Carried
	At December 31, 2014
	(in thousands)
Description	Land		Buildings And Related Personal Property		Total		Accumulated Depreciation (in thousands)		Year of Construction	Date Acquired	Depreciable Life
Colony at Kenilworth Apartments	$	1,366	$	30,579	$	31,945	$	24,090	1967	03/84	5-30 yrs

Reconciliation of “Investment Property and Accumulated Depreciation” (in thousands):

	December 31, 2014			December 31, 2013
Investment Property
Balance at beginning of year	$	31,442		$	31,093
Property improvements and replacements	861			672
Retirement of assets	(358		)	(323		)
Balance at end of year	$	31,945		$	31,442
Accumulated Depreciation
Balance at beginning of year	$	23,203		$	21,952
Additions charged to expense	1,245			1,574
Retirement of assets	(358		)	(323		)
Balance at end of year	$	24,090		$	23,203

During the years ended December 31, 2014 and 2013, the Partnership retired and wrote-off property improvements and replacements no longer being used that had a cost basis of approximately $358,000 and $323,000, respectively, and accumulated depreciation of approximately $358,000 and $323,000, respectively, which are included in the table above.

The aggregate cost of the investment property for Federal income tax purposes at December 31, 2014 and 2013 is approximately $38,071,000 and $37,252,000, respectively. The accumulated depreciation taken for Federal income tax purposes at December 31, 2014 and 2013 is approximately $30,498,000 and $28,691,000, respectively.