XML 14 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues        
Rental income $ 12,683,517 $ 12,136,355 $ 25,314,962 $ 24,209,211
Laundry and sundry income 104,274 117,909 216,436 228,341
Total Revenues 12,787,791 12,254,264 25,531,398 24,437,552
Expenses        
Administrative 463,008 455,160 988,744 953,416
Depreciation and amortization 3,009,698 3,060,994 5,982,753 6,088,148
Management fee 518,533 501,288 1,055,248 1,001,495
Operating 1,032,064 1,069,692 2,746,025 2,493,937
Renting 94,532 155,962 180,735 243,226
Repairs and maintenance 2,053,272 2,193,186 3,508,894 3,820,886
Taxes and insurance 1,646,053 1,583,385 3,356,457 3,187,255
Total Expenses 8,817,160 9,019,667 17,818,856 17,788,363
Income Before Other Income (Expense) 3,970,631 3,234,597 7,712,542 6,649,189
Other Income (Expense)        
Interest income 404 203 716 405
Interest expense (2,545,553) (2,542,692) (5,066,379) (5,096,325)
Income from investments in unconsolidated joint ventures 1,058,225 288,478 1,731,062 658,082
Total Other Income (Expense) (1,486,924) (2,254,011) (3,334,601) (4,437,838)
Net Income $ 2,483,707 $ 980,586 $ 4,377,941 $ 2,211,351
Income per Unit        
Income before discontinued operations $ 19.97 $ 7.85 $ 35.19 $ 17.69
Net Income (Loss), Per Outstanding Limited Partnership Unit, Basic, Net of Tax $ 19.97 $ 7.85 $ 35.19 $ 17.69
Weighted Average Number of Units Outstanding (in units) 124,386 124,923 124,392 125,032