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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues        
Rental income $ 14,425,908 $ 13,321,770 $ 42,872,671 $ 38,636,732
Laundry and sundry income 119,625 100,035 362,120 316,471
Total Revenues 14,545,533 13,421,805 43,234,791 38,953,203
Expenses        
Administrative 526,100 525,125 1,613,891 1,513,869
Depreciation and amortization 3,980,177 3,664,997 11,549,208 9,647,751
Management fee 590,908 544,399 1,740,766 1,599,647
Operating 1,101,251 1,051,910 4,186,091 3,797,935
Renting 312,579 301,423 586,019 482,157
Repairs and maintenance 2,951,750 2,678,780 7,081,073 6,187,673
Taxes and insurance 1,866,463 1,727,218 5,628,501 5,083,674
Total Expenses 11,329,228 10,493,852 32,385,549 28,312,706
Income Before Other Income (Expense) 3,216,305 2,927,953 10,849,242 10,640,497
Other Income (Expense)        
Interest income 64 416 301 1,132
Interest expense (3,090,471) (3,046,818) (9,331,023) (8,113,197)
Income from investments in unconsolidated joint ventures 534,431 990,169 1,073,692 2,721,231
Total Other Income (Expense) (2,555,976) (2,056,233) (8,257,030) (5,390,834)
Net Income $ 660,329 $ 871,720 $ 2,592,212 $ 5,249,663
Income per Unit        
Net Income per Unit (in dollars per unit) $ 5.31 $ 7.01 $ 20.84 $ 42.20
Weighted Average Number of Units Outstanding (in units) 124,386 124,387 124,386 124,394