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Investment in Real Estate, Net
3 Months Ended
Sep. 30, 2019
Real Estate [Abstract]  
Investment in Real Estate, Net

NOTE 4 – INVESTMENT IN REAL ESTATE, NET

 

The Company owns and operates a 2-unit and 27-unit multi-family apartment complexes located in West Los Angeles, California and Santa Monica, California, respectively. The Company also owns land held for development located in Maui, Hawaii. Investment in real estate consisted of the following:

 

As of  September 30, 2019   June 30, 2019 
Land  $2,430,000   $2,430,000 
Buildings, improvements and equipment   2,921,000    2,922,000 
Accumulated depreciation   (1,490,000)   (1,463,000)
    3,861,000    3,889,000 
Land held for development   977,000    977,000 
Investment in real estate, net  $4,838,000   $4,866,000