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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Revenues      
Rental income $ 45,074,655 $ 42,205,644 $ 37,961,599
Laundry and sundry income 406,059 426,675 402,953
Total Revenues 45,480,714 42,632,319 38,364,552
Expenses      
Administrative 2,096,290 2,206,483 2,116,527
Depreciation and amortization 10,733,773 10,551,527 8,377,902
Management fee 1,869,977 1,744,849 1,570,158
Operating 4,939,662 4,668,196 4,201,928
Renting 487,225 430,949 202,787
Repairs and maintenance 6,998,592 6,608,290 5,815,264
Taxes and insurance 5,643,507 5,519,432 4,948,569
Total Expenses 32,769,026 31,729,726 27,233,135
Income Before Other Income (Expense) and Discontinued Operations 12,711,688 10,902,593 11,131,417
Other Income (Expense)      
Interest income 1,596 754 1,118
Interest expense (9,809,293) (9,553,200) (8,013,109)
Income (Loss) from investments in joint ventures 868,574 (325,297) (1,166,877)
Other Income     4,950
Total Other Income (Expense) (8,939,123) (9,877,743) (9,173,918)
Income from Continuing Operations 3,772,565 1,024,850 1,957,499
Discontinued Operations      
Income from discontinued operations     19,047
Gain on the sale of real estate     3,678,839
Total Discontinued Operations     3,697,886
Net Income $ 3,772,565 $ 1,024,850 $ 5,655,385
Income per Unit      
Income before discontinued operations (in dollars per unit) $ 29.86 $ 7.96 $ 15.07
Income from discontinued operations (in dollars per unit)     28.48
Net Income per Unit (in dollars per unit) $ 29.86 $ 7.96 $ 43.55
Weighted Average Number of Units Outstanding (in units) 126,361 128,735 129,868