XML 14 R4.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues    
Rental income $ 19,710,432 $ 17,568,727
Laundry and sundry income 182,967 122,959
Total Revenues 19,893,399 17,691,686
Expenses    
Administrative 762,019 737,101
Depreciation and amortization 4,227,582 3,846,260
Management fee 788,607 697,764
Operating 2,645,493 2,533,796
Renting 387,599 191,585
Repairs and maintenance 2,847,957 2,763,136
Taxes and insurance 2,482,368 2,470,679
Total Expenses 14,141,625 13,240,321
Income Before Other Income (Expense) 5,751,774 4,451,365
Other Income (Expense)    
Interest income 1,177,547 974,546
Interest expense (3,907,016) (3,899,240)
Income from investments in unconsolidated joint ventures 441,291 227,704
Total Other Income (Expense) (2,288,178) (2,696,990)
Net Income $ 3,463,596 $ 1,754,375
Income per Unit    
Net Income per Unit $ 29.51 $ 14.72
Weighted Average Number of Units Outstanding 117,354 119,181