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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues        
Rental income $ 15,832,492 $ 15,046,646 $ 46,145,825 $ 46,946,889
Laundry and sundry income 114,180 95,620 336,980 330,066
Total Revenues 15,946,672 15,142,266 46,482,805 47,276,955
Expenses        
Administrative 607,478 511,812 1,819,481 1,608,664
Depreciation and amortization 3,956,979 4,612,713 11,806,561 13,779,797
Management fee 646,059 598,111 1,867,798 1,862,645
Operating 1,338,718 1,228,750 4,792,332 4,188,934
Renting 458,040 332,157 941,281 657,636
Repairs and maintenance 3,128,369 2,524,050 7,432,860 6,659,443
Taxes and insurance 2,259,793 2,107,037 6,688,885 6,503,299
Total Expenses 12,395,436 11,914,630 35,349,198 35,260,418
Income Before Other Income (Expense) 3,551,236 3,227,636 11,133,607 12,016,537
Other Income (Expense)        
Interest income 27 11 74 171
Interest expense (3,393,518) (3,417,348) (10,136,630) (10,291,255)
Income (Loss) from investments in unconsolidated joint ventures (233,130) (249,583) (796,725) 669,098
Total Other Income (Expense) (3,626,621) (3,666,920) (10,933,281) (9,621,986)
Net Inocme (Loss) $ (75,385) $ (439,284) $ 200,326 $ 2,394,551
Income per Unit        
Net Inocme (Loss) per Unit (in dollars per unit) $ (0.62) $ (3.61) $ 1.65 $ 19.66
Weighted Average Number of Units Outstanding (in units) 121,756 121,756 121,756 121,796