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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Revenues        
Rental income $ 15,333,216 $ 15,646,814 $ 30,313,332 $ 31,900,244
Laundry and sundry income 114,128 112,292 222,801 234,446
Total Revenues 15,447,344 15,759,106 30,536,133 32,134,690
Expenses        
Administrative 559,818 512,195 1,212,004 1,096,853
Depreciation and amortization 3,943,664 4,601,617 7,849,582 9,167,084
Management fee 616,348 615,541 1,221,739 1,264,534
Operating 1,407,646 1,291,781 3,453,614 2,960,183
Renting 221,275 128,608 483,241 325,479
Repairs and maintenance 2,334,403 2,049,174 4,304,490 4,135,392
Taxes and insurance 2,176,958 2,115,721 4,429,092 4,396,262
Total Expenses 11,260,112 11,314,637 22,953,762 23,345,787
Income Before Other Income (Expense) 4,187,232 4,444,469 7,582,371 8,788,903
Other Income (Expense)        
Interest income 25 52 46 159
Interest expense (3,378,942) (3,423,583) (6,743,111) (6,873,908)
Income (Loss) from investments in unconsolidated joint ventures (238,424) 444,113 (563,595) 918,680
Total Other Income (Expense) (3,617,341) (2,979,418) (7,306,660) (5,955,069)
Net Inocme (Loss) $ 569,891 $ 1,465,051 $ 275,711 $ 2,833,834
Income per Unit        
Net Inocme (Loss) per Unit (in dollars per unit) $ 4.68 $ 12.03 $ 2.26 $ 23.26
Weighted Average Number of Units Outstanding (in units) 121,756 121,756 121,756 121,816