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SEGMENTS - Revenues and Net Operating Income for Reportable Segments (Details)
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
USD ($)
apartmentCommunity
Jun. 30, 2023
USD ($)
apartmentCommunity
Jun. 30, 2024
USD ($)
segment
apartmentCommunity
Jun. 30, 2023
USD ($)
apartmentCommunity
Dec. 31, 2023
USD ($)
Segment Reporting Information [Line Items]          
Number of reportable segments | segment     1    
Segment revenues and net operating income [Abstract]          
Revenue $ 65,043,000 $ 64,776,000 $ 129,549,000 $ 132,673,000  
Property operating expenses, including real estate taxes 25,189,000 25,046,000 50,258,000 53,969,000  
Net operating income 39,854,000 39,730,000 79,291,000 78,704,000  
Property management expense (2,222,000) (2,247,000) (4,552,000) (4,815,000)  
Casualty loss (510,000) (53,000) (1,330,000) (305,000)  
Depreciation and amortization (25,714,000) (24,371,000) (52,726,000) (50,364,000)  
General and administrative expenses (4,216,000) (4,162,000) (8,839,000) (11,885,000)  
(Loss) gain on sale of real estate and other investments 0 (67,000) (577,000) 60,092,000  
Loss on litigation settlement 0 (2,864,000) 0 (2,864,000) $ (1,000,000.0)
Interest expense (9,332,000) (8,641,000) (18,539,000) (18,960,000)  
Interest and other income 477,000 295,000 817,000 344,000  
Net income (loss) $ (1,663,000) $ (2,380,000) $ (6,455,000) $ 49,947,000  
Disposed of by Sale          
Segment Reporting Information [Line Items]          
Number of properties sold | apartmentCommunity 0 0 2 9  
Multifamily          
Segment revenues and net operating income [Abstract]          
Revenue $ 64,466,000 $ 60,531,000 $ 127,806,000 $ 119,971,000  
Property operating expenses, including real estate taxes 24,953,000 23,228,000 49,513,000 47,753,000  
Net operating income 39,513,000 37,303,000 78,293,000 72,218,000  
All Other          
Segment revenues and net operating income [Abstract]          
Revenue 577,000 4,245,000 1,743,000 12,702,000  
Property operating expenses, including real estate taxes 236,000 1,818,000 745,000 6,216,000  
Net operating income $ 341,000 $ 2,427,000 $ 998,000 $ 6,486,000