Debt	9 Months Ended
Sep. 30, 2011
Debt
Debt Disclosure [Text Block]	Note C – Mortgage Financing On May 2, 2011, the Partnership refinanced the mortgage debt encumbering Hunters Glen Apartments IV, V and VI. The refinancing replaced the existing mortgage loans, which at the time of refinancing had an aggregate principal balance of approximately $68,211,000, with a new mortgage loan in the principal amount of $66,713,000. The new loan bears interest at a rate of 5.47% per annum and requires monthly payments of principal and interest of approximately $378,000 beginning on July 1, 2011, through the June 1, 2021 maturity date. The new mortgage loan has a balloon payment of approximately $55,145,000 due at maturity. The Partnership may prepay the mortgage at any time with 30 days written notice to the lender, subject to a prepayment penalty. The Partnership recorded a loss on the early extinguishment of debt of approximately $6,489,000, as a result of the write off of unamortized loan costs and the payment of prepayment penalties of approximately $5,606,000. Total capitalized loan costs associated with the new mortgage were approximately $597,000 and are included in other assets. In connection with the refinancing, the Partnership received an advance of approximately $9,397,000 from AIMCO Properties, LP. This advance and the proceeds from the new mortgage loan were then used to pay in full the existing mortgage loans encumbering Hunters Glen Apartments IV, V and VI, prepayment penalties, a deposit into a repair escrow and other loan closing costs. This advance is unsecured and bears interest at the prime rate. As a result of the refinancing which collateralizes the three phases of Hunters Glen Apartments under one mortgage loan, the Partnership has combined the assets, liabilities and operations of the three separate phases into one property, “Hunters Glen Apartments”. On March 25, 2010, the Partnership refinanced the mortgage encumbering Twin Lake Towers Apartments. The refinancing resulted in the replacement of the existing mortgage loan, which at the time of refinancing had a principal balance of approximately $9,131,000, with a new mortgage loan in the principal amount of $27,000,000. The new loan bears interest at a rate of 5.49% per annum and requires monthly payments of principal and interest of approximately $153,000 beginning on May 1, 2010, through the April 1, 2020 maturity date. The new mortgage loan has a balloon payment of approximately $22,331,000 due at maturity. The Partnership may prepay the mortgage at any time with 30 days written notice to the lender, subject to a prepayment penalty. The Partnership recorded a loss on the early extinguishment of debt of approximately $866,000, as a result of the write off of unamortized loan costs and the payment of a prepayment penalty of approximately $766,000. Total capitalized loan costs associated with the new mortgage were approximately $225,000 and are included in other assets.

Debt

9 Months Ended

Sep. 30, 2011

Note C – Mortgage Financing

On May 2, 2011, the Partnership refinanced the mortgage debt encumbering Hunters Glen Apartments IV, V and VI. The refinancing replaced the existing mortgage loans, which at the time of refinancing had an aggregate principal balance of approximately $68,211,000, with a new mortgage loan in the principal amount of $66,713,000. The new loan bears interest at a rate of 5.47% per annum and requires monthly payments of principal and interest of approximately $378,000 beginning on July 1, 2011, through the June 1, 2021 maturity date. The new mortgage loan has a balloon payment of approximately $55,145,000 due at maturity. The Partnership may prepay the mortgage at any time with 30 days written notice to the lender, subject to a prepayment penalty. The Partnership recorded a loss on the early extinguishment of debt of approximately $6,489,000, as a result of the write off of unamortized loan costs and the payment of prepayment penalties of approximately $5,606,000. Total capitalized loan costs associated with the new mortgage were approximately $597,000 and are included in other assets.

In connection with the refinancing, the Partnership received an advance of approximately $9,397,000 from AIMCO Properties, LP. This advance and the proceeds from the new mortgage loan were then used to pay in full the existing mortgage loans encumbering Hunters Glen Apartments IV, V and VI, prepayment penalties, a deposit into a repair escrow and other loan closing costs. This advance is unsecured and bears interest at the prime rate.

As a result of the refinancing which collateralizes the three phases of Hunters Glen Apartments under one mortgage loan, the Partnership has combined the assets, liabilities and operations of the three separate phases into one property, “Hunters Glen Apartments”.

On March 25, 2010, the Partnership refinanced the mortgage encumbering Twin Lake Towers Apartments. The refinancing resulted in the replacement of the existing mortgage loan, which at the time of refinancing had a principal balance of approximately $9,131,000, with a new mortgage loan in the principal amount of $27,000,000. The new loan bears interest at a rate of 5.49% per annum and requires monthly payments of principal and interest of approximately $153,000 beginning on May 1, 2010, through the April 1, 2020 maturity date. The new mortgage loan has a balloon payment of approximately $22,331,000 due at maturity. The Partnership may prepay the mortgage at any time with 30 days written notice to the lender, subject to a prepayment penalty. The Partnership recorded a loss on the early extinguishment of debt of approximately $866,000, as a result of the write off of unamortized loan costs and the payment of a prepayment penalty of approximately $766,000. Total capitalized loan costs associated with the new mortgage were approximately $225,000 and are included in other assets.