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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues        
Rental income $ 16,825,737 $ 15,333,216 $ 33,285,743 $ 30,313,332
Laundry and sundry income 106,191 114,128 226,593 222,801
Total Revenues 16,931,928 15,447,344 33,512,336 30,536,133
Expenses        
Administrative 623,877 559,818 1,331,663 1,212,004
Depreciation and amortization 4,076,597 3,943,664 8,097,365 7,849,582
Management fee 672,370 616,348 1,345,454 1,221,739
Operating 1,522,250 1,407,646 4,198,458 3,453,614
Renting 150,943 221,275 320,332 483,241
Repairs and maintenance 2,974,734 2,334,403 5,254,385 4,304,490
Taxes and insurance 2,300,235 2,176,958 4,576,808 4,429,092
Total Expenses 12,321,006 11,260,112 25,124,465 22,953,762
Income Before Other Income (Expense) 4,610,922 4,187,232 8,387,871 7,582,371
Other Income (Expense)        
Interest income 32 25 61 46
Interest expense (3,623,714) (3,378,942) (7,078,349) (6,743,111)
Income from investments in unconsolidated joint ventures 90,283 (238,424) 110,351 (563,595)
Other (expenses) (834,538)   (834,533)  
Total Other Income (Expense) (4,367,937) (3,617,341) (7,802,470) (7,306,660)
Net (Loss) Income $ 242,985 $ 569,891 $ 585,401 $ 275,711
Income per Unit        
Net (Loss) Income per Unit (in dollars per unit) $ 2.02 $ 4.68 $ 4.84 $ 2.26
Weighted Average Number of Units Outstanding (in units) 120,528 121,756 120,885 121,756