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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues      
Rental income $ 73,892,393 $ 67,560,662 $ 62,175,592
Laundry and sundry income 588,975 733,064 462,862
Total Revenues 74,481,368 68,293,726 62,638,454
Expenses      
Administrative 2,900,432 2,731,284 2,476,593
Depreciation and amortization 16,773,045 16,373,429 16,671,076
Operating 7,748,910 7,324,692 6,471,250
Renting 1,004,666 639,235 1,241,298
Repairs and maintenance 13,366,079 11,270,589 10,069,325
Taxes and insurance 9,954,214 9,149,837 8,942,469
Property Impairment 971,109    
Total Expenses 55,666,521 50,205,580 48,395,954
Income Before Other Income (Expense) 18,814,847 18,088,146 14,242,500
Other Income (Expense)      
Interest income 4,486,603 1,055,338 87
Interest expense (15,723,733) (15,045,477) (13,629,463)
Income (loss) from investments in unconsolidated joint ventures 876,233 499,783 (567,308)
Other income (expenses)   (874,517) (2,745,979)
Total Other Income (Expense) (10,360,897) (14,364,873) (16,942,663)
Net Income (Loss) $ 8,453,950 $ 3,723,273 $ (2,700,163)
Income per Unit      
Net Income (Loss) per Unit $ 71.34 $ 30.99 $ (22.19)
Weighted Average Number of Units Outstanding 118,500 120,160 121,696
Related Party [Member]      
Expenses      
Management fee $ 2,948,066 $ 2,716,514 $ 2,523,943