XML 15 R4.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Revenues      
Rental income $ 67,560,662 $ 62,175,592 $ 61,661,551
Laundry and sundry income 733,064 462,862 441,159
Total Revenues 68,293,726 62,638,454 62,102,710
Expenses      
Administrative 2,731,284 2,476,593 2,209,780
Depreciation and amortization 16,373,429 16,671,076 18,410,811
Management fee 2,716,514 2,523,943 2,452,814
Operating 7,324,692 6,471,250 5,766,160
Renting 639,235 1,241,298 864,542
Repairs and maintenance 11,270,589 10,069,325 8,781,789
Taxes and insurance 9,149,837 8,942,469 8,647,781
Total Expenses 50,205,580 48,395,954 47,133,677
Income Before Other Income (Expense) 18,088,146 14,242,500 14,969,033
Other Income (Expense)      
Interest income 1,055,338 87 195
Interest expense (15,045,477) (13,629,463) (13,705,415)
Income (loss) from investments in unconsolidated joint ventures 499,783 (567,308) 160,715
Other (expenses) (874,517) (2,745,979)  
Total Other Income (Expense) (14,364,873) (16,942,663) (13,544,505)
Net (Loss) Income $ 3,723,273 $ (2,700,163) $ 1,424,528
Income per Unit      
Net (Loss) Income per Unit $ 30.99 $ (22.19) $ 11.70
Weighted Average Number of Units Outstanding 120,160 121,696 121,786