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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues      
Rental income $ 52,370,221 $ 49,121,705 $ 45,074,655
Laundry and sundry income 457,167 433,385 406,059
Total Revenues 52,827,388 49,555,090 45,480,714
Expenses      
Administrative 2,008,107 2,102,812 2,096,290
Depreciation and amortization 13,462,395 12,181,396 10,562,707
Management fee 2,159,458 2,029,171 1,869,977
Operating 5,227,502 4,822,921 4,939,662
Renting 632,232 636,803 487,225
Repairs and maintenance 8,378,639 8,258,263 6,998,592
Taxes and insurance 6,814,089 6,263,774 5,643,507
Income Before Other Income (Expense) 14,144,966 13,259,950 12,882,754
Other Income (Expense)      
Interest income 1,284 1,025 1,596
Interest expense (11,114,146) (10,200,393) (9,980,359)
Income from investments in unconsolidated joint ventures 3,905,827 1,785,827 868,574
Gain on sale of real estate   104,443  
Total Other Income (Expense) (7,207,035) (8,309,098) (9,110,189)
Income from Continuing Operations 6,937,931 4,950,852 3,772,565
Net Income $ 6,937,931 $ 4,950,852 $ 3,772,565
Income per Unit      
Net Income per Unit (in dollars per unit) $ 55.77 $ 39.62 $ 29.86
Weighted Average Number of Units Outstanding (in units) 124,392 124,951 126,361