CONSOLIDATED STATEMENTS OF INCOME - USD ($) |
3 Months Ended | |||
|---|---|---|---|---|
Mar. 31, 2024 |
Mar. 31, 2023 |
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| 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 | ||
| X | ||||||||||
- Definition This element represents the amount of management fee incurred for payment to a management company during the reporting period. No definition available.
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| X | ||||||||||
- Definition The aggregate costs of keeping the property in good condition but that do not appreciably prolong the life or increase the value of the property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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| X | ||||||||||
- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Per unit of ownership amount after tax of income (loss) available to outstanding limited partnership (LP) unit-holder. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Excludes Selling, General and Administrative Expense. No definition available.
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- References No definition available.
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| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of operating lease expense. Excludes sublease income. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of operating lease income from lease payments and variable lease payments paid and payable to lessor. Includes, but is not limited to, variable lease payments not included in measurement of lease receivable. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total of real estate taxes and insurance expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition Weighted average number of limited partnership units outstanding determined by relating the portion of time within a reporting period that limited partnership units have been outstanding to the total time in that period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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