Note D - Investment Property and Accumulated Depreciation

12 Months Ended

Dec. 31, 2012

Notes

Note D - Investment Property and Accumulated Depreciation

Note D – Investment Property and Accumulated Depreciation

		Initial Cost
		To Partnership
		(in thousands)
			Buildings	Net Cost
			and Related	Capitalized
			Personal	Subsequent to
Description	Encumbrances	Land	Property	Acquisition
	(in thousands)			(in thousands)
Wood Creek Apartments	$18,548	$ 2,130	$ 13,440	$ 4,571

	Gross Amount At Which Carried
	At December 31, 2012
	(in thousands)
		Buildings
		And Related
		Personal		Accumulated	Year of	Depreciable
Description	Land	Property	Total	Depreciation	Construction	Life
				(in thousands)
Wood Creek Apartments	$ 2,116	$ 18,025	$ 20,141	$ 14,864	1985	5-30 yrs

Reconciliation of "Investment Property and Accumulated Depreciation":

	Years Ended December 31,
	2012	2011
	(in thousands)
Investment Property
Balance at beginning of year	$ 19,963	$ 22,682
Property improvements and replacements	492	433
Disposal of assets	(4)	(5)
Asset retirement	(310)	(3,147)
Balance at end of year	$ 20,141	$ 19,963
Accumulated Depreciation
Balance at beginning of year	$ 14,128	$ 16,261
Additions charged to expense	1,049	1,018
Disposal of assets	(3)	(4)
Asset retirement	(310)	(3,147)
Balance at end of year	$ 14,864	$ 14,128

During the years ended December 31, 2012 and 2011, the Partnership retired and wrote off personal property no longer being used that had a cost basis of approximately $310,000 and $3,147,000, respectively, and accumulated depreciation of approximately $310,000 and $3,147,000, respectively, which are included in the table above.

The aggregate cost of the investment property for Federal income tax purposes at December 31, 2012 and 2011 is approximately $21,301,000 and $20,812,000, respectively. The accumulated depreciation for Federal income tax purposes at December 31, 2012 and 2011 is approximately $17,540,000 and $16,981,000, respectively.