XML 79 R44.htm IDEA: XBRL DOCUMENT v3.20.1
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)
$ in Thousands
12 Months Ended
Nov. 19, 2018
USD ($)
Number
Dec. 31, 2019
USD ($)
a
ft²
Number
Dec. 31, 2018
USD ($)
Number
Real estate, at cost | $   $ 469,997 $ 455,993
Acres of land | a   1,951  
Victory Abode Apartments, LLC [Member]      
Percentage of ownership   50.00% 50.00%
Number of income-producing properties   51  
Cash consideration | $ $ 236,800    
Number of apartment units   9,888  
Commercial lProperties [Member]      
Number of income-producing properties   7  
Rentable square feet | ft²   1,700,000  
Apartment Buildings [Member]      
Number of income-producing properties   10 9
Number of apartment units   1,657 1,489
Real estate, at cost | $   $ 478,000 $ 464,000
Victory Abode Apartments, LLC [Member]      
Number of income-producing properties 49    
Cash consideration | $ $ 236,800    
Projects in development 3    
Minimum [Member] | Buildings And Improvements [Member]      
Useful life of fixed assets   10 years  
Minimum [Member] | Furniture, Fixtures And Equipment [Member]      
Useful life of fixed assets   5 years  
Maximum [Member] | Buildings And Improvements [Member]      
Useful life of fixed assets   40 years  
Maximum [Member] | Furniture, Fixtures And Equipment [Member]      
Useful life of fixed assets   10 years  
TCI [Member]      
Ownership interest   78.38%  
Income Opportunity Realty Investors, Inc. [Member] | TCI [Member]      
Ownership interest   81.23%  
Victory Abode Apartments, LLC [Member] | Class A [Member]      
Ownership interest 50.00%    
Victory Abode Apartments, LLC [Member] | Class B [Member] | Daniel J. Moos ARL's President and Chief Executive Officer [Member]      
Profit participation rights percentage   2.00%  
Victory Abode Apartments, LLC [Member] | Abode JVP, LLC [Member] | Class A [Member]      
Voting interest in joint venture   50.00%  
Profit participation rights percentage   49.00%  
Victory Abode Apartments, LLC [Member] | Summerset Intermediate Holdings 2 LLC [Member] | Class A [Member]      
Voting interest in joint venture   50.00%  
Profit participation rights percentage   49.00%  
Related Parties [Member] | ARL [Member] | Minimum [Member]      
Ownership interest   80.00%