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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Rental income $ 60,012,174 $ 57,535,734 $ 52,370,221
Laundry and sundry income 465,140 478,330 457,167
Total Revenues 60,477,314 58,014,064 52,827,388
Expenses      
Administrative 2,495,272 2,204,923 2,008,107
Depreciation and amortization 14,684,248 15,568,973 13,462,395
Management fee 2,409,151 2,326,225 2,159,458
Operating 5,682,264 5,542,605 5,227,502
Renting 953,043 779,503 632,232
Repairs and maintenance 9,191,561 9,187,714 8,378,639
Taxes and insurance 7,790,008 7,485,749 6,814,089
Total Expenses 43,205,547 43,095,692 38,682,422
Income Before Other Income (Expense) 17,271,767 14,918,372 14,144,966
Other Income (Expense)      
Interest income 607 344 1,284
Interest expense (12,201,966) (12,389,680) (11,114,146)
Income from investments in unconsolidated joint ventures 1,678,554 1,640,054 3,905,827
Other Income (Loss) (201,710)    
Total Other Income (Expense) (10,724,515) (10,749,282) (7,207,035)
Net Income $ 6,547,252 $ 4,169,090 $ 6,937,931
Income per Unit      
Net Income per Unit (in dollars per unit) $ 53.48 $ 33.52 $ 55.77
Weighted Average Number of Units Outstanding (in units) 122,422 124,386 124,392