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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues      
Rental income $ 49,121,705 $ 45,074,655 $ 42,205,644
Laundry and sundry income 433,385 406,059 426,675
Total Revenues 49,555,090 45,480,714 42,632,319
Expenses      
Administrative 2,102,812 2,096,290 2,206,483
Depreciation and amortization 12,181,396 10,562,707 10,367,553
Management fee 2,029,171 1,869,977 1,744,849
Operating 4,822,921 4,939,662 4,668,196
Renting 636,803 487,225 430,949
Repairs and maintenance 8,258,263 6,998,592 6,608,290
Taxes and insurance 6,263,774 5,643,507 5,519,432
Total Expenses 36,295,140 32,597,960 31,545,752
Income Before Other Income (Expense) 13,259,950 12,882,754 11,086,567
Other Income (Expense)      
Interest income 1,025 1,596 753
Interest expense (10,200,393) (9,980,359) (9,737,173)
Income from investments in unconsolidated joint ventures 1,785,827 868,574 (325,297)
Gain on sale of real estate 104,443    
Total Other Income (Expense) (8,309,098) (9,110,189) (10,061,717)
Income from Continuing Operations 4,950,852 3,772,565 1,024,850
Net Income $ 4,950,852 $ 3,772,565 $ 1,024,850
Income per Unit      
Income before discontinued operations $ 39.62 $ 29.86 $ 7.96
Net Income per Unit (in dollars per unit) $ 39.62 $ 29.86 $ 7.96
Weighted Average Number of Units Outstanding (in units) 124,951 126,361 128,735