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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues        
Rental income $ 18,804,320 $ 16,974,515 $ 54,338,011 $ 50,260,258
Laundry and sundry income 157,322 103,868 416,354 330,461
Total Revenues 18,961,642 17,078,383 54,754,365 50,590,719
Expenses        
Administrative 642,907 696,656 2,247,729 2,028,319
Depreciation and amortization 4,426,701 4,114,913 12,234,394 12,212,278
Management fee 810,436 683,999 2,173,272 2,029,453
Operating 1,610,342 1,410,843 5,865,371 5,609,302
Renting 391,093 181,574 827,112 501,906
Repairs and maintenance 3,611,652 3,126,953 9,853,498 8,381,339
Taxes and insurance 2,569,250 2,302,648 7,463,651 6,879,455
Total Expenses 14,062,381 12,517,586 40,665,027 37,642,052
Income Before Other Income (Expense) 4,899,261 4,560,797 14,089,338 12,948,667
Other Income (Expense)        
Interest income 1,083,423 363,350 3,350,423 363,411
Interest expense (3,956,181) (3,982,445) (11,781,285) (11,060,794)
Income from investments in unconsolidated joint ventures 148,723 93,516 496,092 203,867
Other income (expenses)   (39,994)   (874,526)
Total Other Income (Expense) (2,724,035) (3,565,573) (7,934,770) (11,368,042)
Net Income $ 2,175,226 $ 995,224 $ 6,154,568 $ 1,580,625
Income per Unit        
Net Income per Unit $ 18.38 $ 8.32 $ 51.83 $ 13.12
Weighted Average Number of Units Outstanding 118,326 119,638 118,754 120,465