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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues      
Rental income $ 79,762,964 $ 73,892,393 $ 67,560,662
Laundry and sundry income 769,586 588,975 733,064
Total Revenues 80,532,550 74,481,368 68,293,726
Expenses      
Administrative 2,935,887 2,900,432 2,731,284
Depreciation and amortization 16,983,336 16,773,045 16,373,429
Management fee 3,178,006 2,948,066 2,716,514
Operating 7,800,574 7,748,910 7,324,691
Renting 1,148,593 1,004,666 639,235
Repairs and maintenance 13,115,843 13,366,079 11,270,589
Taxes and insurance 9,999,058 9,954,214 9,149,837
Property impairment   971,109  
Total Expenses 55,161,297 55,666,521 50,205,579
Income Before Other Income (Expense) 25,371,253 18,814,847 18,088,147
Other Income (Expense)      
Interest income 4,465,557 4,486,603 1,055,338
Interest expense (15,457,325) (15,723,733) (15,045,477)
Income from investments in unconsolidated joint ventures 1,282,102 876,233 499,783
Other (Loss)     (874,517)
Total Other Income (Expense) (9,709,666) (10,360,897) (14,364,873)
Net Income $ 15,661,587 $ 8,453,950 $ 3,723,274
Income per Unit      
Net Income per Unit $ 133.83 $ 71.34 $ 30.99
Weighted Average Number of Units Outstanding 117,022 118,500 120,160