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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Rental income $ 16,974,515 $ 15,832,492 $ 50,260,258 $ 46,145,825
Laundry and sundry income 103,868 114,180 330,461 336,980
Total Revenues 17,078,383 15,946,672 50,590,719 46,482,805
Expenses        
Administrative 696,656 607,478 2,028,319 1,819,481
Depreciation and amortization 4,114,913 3,956,979 12,212,278 11,806,561
Management fee 683,999 646,059 2,029,453 1,867,798
Operating 1,410,843 1,338,718 5,609,302 4,792,332
Renting 181,574 458,040 501,906 941,281
Repairs and maintenance 3,126,953 3,128,369 8,381,339 7,432,860
Taxes and insurance 2,302,648 2,259,793 6,879,455 6,688,885
Total Expenses 12,517,586 12,395,436 37,642,052 35,349,198
Income Before Other Income (Expense) 4,560,797 3,551,236 12,948,667 11,133,607
Other Income (Expense)        
Interest income 363,350 27 363,411 74
Interest expense (3,982,445) (3,393,518) (11,060,794) (10,136,630)
Income (loss) from investments in unconsolidated joint ventures 93,516 (233,130) 203,867 (796,725)
Other (expenses) (39,994)   (874,526)  
Total Other Income (Expense) (3,565,573) (3,626,621) (11,368,042) (10,933,281)
Net Income $ 995,224 $ (75,385) $ 1,580,625 $ 200,326
Income per Unit        
Net Income per Unit (in dollars per unit) $ 8.32 $ (0.62) $ 13.12 $ 1.65
Weighted Average Number of Units Outstanding (in units) 119,638 121,756 120,465 121,756