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CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2012	Dec. 31, 2011
ASSETS
Rental Properties	$ 96,137,618	$ 98,924,534
Cash and Cash Equivalents	5,322,287	4,050,157
Rents Receivable	545,496	434,252
Real Estate Tax Escrows	446,314	401,325
Prepaid Expenses and Other Assets	3,460,422	3,866,652
Investments in Unconsolidated Joint Ventures	14,786,580	16,780,657
Financing and Leasing Fees	960,064	919,187
Total Assets	121,658,781	125,376,764
LIABILITIES AND PARTNERS' CAPITAL
Note Payable		1,668,600
Mortgage Notes Payable	138,335,670	139,161,612
Accounts Payable and Accrued Expenses	2,143,534	2,253,696
Advance Rental Payments and Security Deposits	3,604,570	3,603,708
Total Liabilities	144,083,774	146,687,616
Commitments and Contingent Liabilities (Notes 3 and 9)
Partners' Capital 130,776 and 131,484 units outstanding in 2012 and 2011 respectively	(22,424,993)	(21,310,852)
Total Liabilities and Partners' Capital	$ 121,658,781	$ 125,376,764

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