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MORTGAGE NOTES PAYABLE AND LINE OF CREDIT (Line of Credit) (Details) |  |  |  | 1 Months Ended | 3 Months Ended | 12 Months Ended |
--- | --- | --- | --- | --- | --- | --- | ---
Jan. 07, 2016 | Sep. 30, 2015 | Jul. 31, 2014 USD ($) item | Aug. 31, 2014 | Mar. 31, 2016 USD ($) | Dec. 31, 2005 item | Mar. 07, 2005 item
Line of Credit |  |  |  |  |  |  |
Line Of Credit Facility Unused Capacity Commitment Fee |  |  |  |  | $ 12,000 |  |
Hamilton Essex 81 |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |
Number of properties in which borrowing amount collateralized | item |  |  |  |  |  |  | 1
Line of Credit |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |
Maximum borrowings |  |  | $ 25,000,000 |  |  |  |
Term of debt |  |  | 3 years |  |  |  |
Amount of refinancing costs |  |  | $ 125,000 |  |  |  |
Funds drawn by the company |  |  |  |  | 0 |  |
Number of properties in which borrowing amount collateralized | item |  |  | 23 |  |  |  |
Base Rate | Line of Credit |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |
Reference rate used in calculation of Base Rate |  |  | base |  |  |  |
Prime Rate [Member] | Line of Credit |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |
Reference rate used in calculation of Base Rate |  |  | Prime |  |  |  |
Federal Funds Rate | Line of Credit |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |
Reference rate used in calculation of Base Rate |  |  | Federal Funds |  |  |  |
Basis of effective interest rate used in calculation of Base Rate (as a percent) |  |  | 0.50% |  |  |  |
LIBOR | Residences at CaptainParkers LLC Residential Apartments Lexington, Massachusetts |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |
Margin over basis of interest rate (as a percent) | 201.00% |  |  |  |  |  |
LIBOR | Line of Credit |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |
Reference rate used in calculation of Base Rate |  |  | one month LIBOR |  |  |  |
Basis of effective interest rate used in calculation of Base Rate (as a percent) |  |  | 1.00% |  |  |  |
Minimum |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |
Tangible net worth |  |  |  |  | $ 150,000,000 |  |
Ratio of net operating income to total indebtedness |  |  |  |  | 9.50% |  |
Debt service coverage ratio |  |  |  |  | 1.6 |  |
Minimum | Line of Credit |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |
Pledged interests of the Partnership's ownership interest (as a percent) |  |  | 49.00% |  |  |  |
Commitment fee for unused amount (as a percent) |  |  | 0.15% |  |  |  |
Minimum | Base Rate | Line of Credit |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |
Margin over basis of interest rate (as a percent) |  |  | 2.50% |  |  |  |
Maximum |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |
Leverage ratio |  |  |  |  | 65.00% |  |
Aggregate increase in indebtedness |  |  |  |  | $ 15,000,000 |  |
Maximum | Line of Credit |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |
Pledged interests of the Partnership's ownership interest (as a percent) |  |  | 100.00% |  |  |  |
Commitment fee for unused amount (as a percent) |  |  | 0.20% |  |  |  |
Mortgages payable | Hamilton Essex 81 |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |
Term of debt |  | 10 years |  |  |  |  |
Mortgages payable | Hamilton on Main Apartments, LLC |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |
Term of debt |  |  |  | 10 years |  | 10 years |
Number of properties in which borrowing amount collateralized | item |  |  |  |  |  | 3 |
Mortgages payable | LIBOR | Hamilton Essex 81 |  |  |  |  |  |  |
Line of Credit |  |  |  |  |  |  |
Margin over basis of interest rate (as a percent) |  | 2.18% |  |  |  |  |

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