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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues      
Rental income $ 57,535,734 $ 52,370,221 $ 49,121,705
Laundry and sundry income 478,330 457,167 433,385
Total Revenues 58,014,064 52,827,388 49,555,090
Expenses      
Administrative 2,204,923 2,008,107 2,102,812
Depreciation and amortization 15,568,973 13,462,395 12,181,396
Management fee 2,326,225 2,159,458 2,029,171
Operating 5,542,605 5,227,502 4,822,921
Renting 779,503 632,232 636,803
Repairs and maintenance 9,187,714 8,378,639 8,258,263
Taxes and insurance 7,485,749 6,814,089 6,263,774
Total Expenses 43,095,692 38,682,422 36,295,140
Income Before Other Income (Expense) 14,918,372 14,144,966 13,259,950
Other Income (Expense)      
Interest income 344 1,284 1,025
Interest expense (12,389,680) (11,114,146) (10,200,393)
Income from investments in unconsolidated joint ventures 1,640,054 3,905,827 1,785,827
Gain on sale of real estate     104,443
Total Other Income (Expense) (10,749,282) (7,207,035) (8,309,098)
Income from Continuing Operations 4,169,090 6,937,931 4,950,852
Net Income $ 4,169,090 $ 6,937,931 $ 4,950,852
Income per Unit      
Net Income per Unit (in dollars per unit) $ 33.52 $ 55.77 $ 39.62
Weighted Average Number of Units Outstanding (in units) 124,386 124,392 124,951