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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (345 Franklin) (Details) |  | 1 Months Ended | 3 Months Ended |  |  |
--- | --- | --- | --- | --- | --- | ---
Oct. 12, 2016 USD ($) | Jun. 30, 2013 USD ($) | Mar. 31, 2020 USD ($) property | Mar. 31, 2019 USD ($) property | Dec. 31, 2019 USD ($) | Dec. 20, 2019 USD ($) | Nov. 30, 2001 USD ($) item
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Investments in joint venture |  |  | $ 1,460,406 | $ 1,801,702 | $ 1,430,402 |  |
Number of units | property |  |  |  | 1,033 |  |  |
Repayment of loan | $ 5,158,000 |  |  |  |  |  |
Distribution to the Partnership |  |  | 1,169,173 | $ 1,177,353 |  |  |
Outstanding amount of mortgage |  |  | $ 284,905,564 |  | $ 281,771,246 |  |
Maximum |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Mortgage amount |  |  |  |  |  | $ 35,000,000 |
Maximum | Mortgages payable |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Interest rate (as a percent) |  |  | 5.66% |  |  |  |
345 Franklin | Mortgages payable |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Outstanding amount of mortgage |  |  | $ 9,304,000 |  |  |  |
Residential buildings |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Number of units | property |  |  |  | 1,030 |  |  |
345 Franklin |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Investments in joint venture |  |  |  |  |  |  | $ 1,533,000
Ownership interest (as a percent) |  |  |  | 50.00% |  |  | 50.00%
Number of units |  |  | 40 | 40 |  |  | 40
Distribution to the Partnership |  | $ 1,610,000 |  |  |  |  |
Legal obligation to fund operating results |  |  | $ 0 |  |  |  |
345 Franklin | Mortgages payable |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Term of debt |  | 15 years |  |  |  |  |
Interest rate (as a percent) |  | 3.87% |  |  |  |  |
Period for which the entity is required to make interest only payments |  | 3 years |  |  |  |  |
Amortization period of debt |  | 30 years |  |  |  |  |
Repayment of loan |  | $ 6,776,000 |  |  |  |  |
Borrowings |  | $ 10,000,000 |  |  |  |  |
345 Franklin | Residential buildings |  |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |  |
Number of units | property |  |  | 40 | 40 |  |  |

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