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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues        
Rental income $ 21,037,991 $ 19,841,559 $ 41,534,111 $ 39,551,991
Laundry and sundry income 202,117 209,007 394,891 391,974
Total Revenues 21,240,108 20,050,566 41,929,002 39,943,965
Expenses        
Administrative 667,913 651,978 1,289,179 1,413,997
Depreciation and amortization 4,474,748 4,277,482 8,379,730 8,505,064
Management fee 834,431 782,856 1,652,840 1,571,463
Operating 1,704,150 1,638,816 4,982,524 4,284,310
Renting 256,198 150,772 534,527 538,371
Repairs and maintenance 3,481,815 3,500,467 6,340,084 6,348,424
Taxes and insurance 2,757,280 2,510,031 5,453,097 4,992,399
Total Expenses 14,176,535 13,512,402 28,631,981 27,654,028
Income Before Other Income (Expense) 7,063,573 6,538,164 13,297,021 12,289,937
Other Income (Expense)        
Interest income 737,413 1,112,988 1,728,487 2,290,536
Interest expense (4,136,156) (3,899,695) (7,927,588) (7,806,711)
Income from investments in unconsolidated joint ventures 485,051 321,269 847,679 762,560
Total Other Income (Expense) (2,913,692) (2,465,438) (5,351,422) (4,753,615)
Net Income $ 4,149,881 $ 4,072,726 $ 7,945,599 $ 7,536,322
Income per Unit        
Net Income per Unit $ 35.59 $ 34.77 $ 68.12 $ 64.28
Weighted Average Number of Units Outstanding 116,608 117,139 116,641 117,247