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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Hamilton Essex) (Details) |  |  |  | 3 Months Ended |
--- | --- | --- | --- | --- | ---
Sep. 30, 2015 USD ($) | Sep. 28, 2015 USD ($) | Mar. 07, 2005 USD ($) item | Mar. 31, 2017 USD ($) | Mar. 31, 2016 USD ($) | Dec. 31, 2016 USD ($)
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Investments in joint venture |  |  |  | $ 9,955,145 |  | $ 8,336,505
Distribution to the Partnership |  |  |  | 1,119,687 | $ 936,925 |
Mortgage Notes Payable |  |  |  | 212,322,196 |  | $ 212,709,080
Hamilton Essex Development, LLC and Hamilton Essex 81, LLC |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Investments in joint venture |  |  | $ 2,000,000 |  |  |
Ownership interest (as a percent) |  |  | 50.00% |  |  |
Purchase price of investments |  |  | $ 14,300,000 |  |  |
Hamilton Essex 81 |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Number of units | item |  |  | 48 |  |  |
Number of properties in which borrowing amount collateralized | item |  |  | 1 |  |  |
Capital contributions |  | $ 100,000 |  |  |  |
Distribution to the Partnership | $ 978,193 |  |  |  |  |
Hamilton Essex Development |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Capacity of real estate property (in cars per lot) | item |  |  | 50 |  |  |
Capital contributions |  | 978,193 |  |  |  |
Mortgages payable | Hamilton Essex Development, LLC and Hamilton Essex 81, LLC |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Borrowings |  |  | $ 10,750,000 |  |  |
Mortgages payable | Hamilton Essex 81 |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Amount of loan proceeds utilized for pay off the existing mortgage | $ 8,040,719 |  |  |  |  |
Term of debt | 10 years |  |  |  |  |
Mortgage Notes Payable |  |  |  | $ 10,000,000 |  |
Borrowings | $ 10,000,000 |  |  |  |  |
Mortgages payable | Hamilton Essex 81 | LIBOR |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Margin over basis of interest rate (as a percent) | 2.18% |  |  |  |  |
Mortgages payable | Hamilton Essex Development |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Repayment of loan |  | $ 1,952,286 |  |  |  |

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