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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Rental income $ 17,964,963 $ 16,825,737 $ 35,533,690 $ 33,285,743
Laundry and sundry income 136,073 106,191 259,032 226,593
Total Revenues 18,101,036 16,931,928 35,792,722 33,512,336
Expenses        
Administrative 867,721 623,877 1,604,822 1,331,663
Depreciation and amortization 3,961,432 4,076,597 7,807,693 8,097,365
Management fee 665,073 672,370 1,362,837 1,345,454
Operating 1,721,233 1,522,250 4,255,029 4,198,458
Renting 244,434 150,943 436,019 320,332
Repairs and maintenance 3,479,071 2,974,734 6,241,845 5,254,385
Taxes and insurance 2,423,722 2,300,235 4,894,401 4,576,808
Total Expenses 13,362,686 12,321,006 26,602,646 25,124,465
Income Before Other Income (Expense) 4,738,350 4,610,922 9,190,076 8,387,871
Other Income (Expense)        
Interest income 1,199,643 32 2,174,177 61
Interest expense (3,925,863) (3,623,714) (7,825,103) (7,078,349)
Income (loss) from investments in unconsolidated joint ventures 119,664 90,283 347,368 110,351
Other (expenses) 92,810 (834,538) 92,823 (834,533)
Total Other Income (Expense) (2,513,746) (4,367,937) (5,210,735) (7,802,470)
Net Income $ 2,224,604 $ 242,985 $ 3,979,341 $ 585,401
Income per Unit        
Net Income per Unit $ 18.73 $ 2.02 $ 33.45 $ 4.84
Weighted Average Number of Units Outstanding 118,764 120,528 118,971 120,885