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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Hamilton Essex) (Details) |  |  |  | 6 Months Ended |
--- | --- | --- | --- | --- | ---
Oct. 12, 2016 USD ($) | Sep. 30, 2015 USD ($) | Mar. 07, 2005 USD ($) item | Jun. 30, 2023 USD ($) property | Jun. 30, 2022 USD ($) property | Dec. 31, 2022 USD ($)
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Investments in joint venture |  |  |  | $ 1,435,154 |  | $ 1,437,387
Repayment of loan | $ 5,158,000 |  |  |  |  |
Distribution to the Partnership |  |  |  | 7,128,758 | $ 6,976,595 |
Mortgage Notes Payable |  |  |  | $ 409,834,512 |  | $ 410,966,199
Hamilton Essex 81 |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Number of units |  |  | 48 | 49 | 49 |
Number of properties in which borrowing amount collateralized | item |  |  | 1 |  |  |
Distribution to the Partnership |  | $ 978,193 |  |  |  |
Mortgage Notes Payable |  |  |  | $ 9,968,975 | $ 9,955,186 |
Hamilton Essex Development |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Number of units | property |  |  |  | 1 | 1 |
Capacity of real estate property (in cars per lot) | item |  |  | 50 |  |  |
Hamilton Essex 81 |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Investments in joint venture |  |  | $ 2,000,000 |  |  |
Ownership interest (as a percent) |  |  | 50.00% |  |  |
Purchase price of real estate properties |  |  | $ 14,300,000 |  |  |
Residential buildings | Hamilton Essex 81 |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Number of units | property |  |  |  | 48 | 48 |
Commercial | Hamilton Essex 81 |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Number of units | property |  |  |  | 1 | 1 |
Commercial | Hamilton Essex Development |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Number of units | property |  |  |  | 1 | 1 |
Mortgages payable | Maximum |  |  |  |  |  |
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES |  |  |  |  |  |
Interest rate (as a percent) |  |  |  | 4.95% |  |
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% |  |  |  |

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- Definition Represents the amount of loan proceeds utilized for paying off the existing mortgage. + References No definition available. + Details
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