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INVESTMENT IN REAL ESTATE, NET | 12 Months Ended
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Jun. 30, 2025
Real Estate [Abstract] |
INVESTMENT IN REAL ESTATE, NET | NOTE 5 - INVESTMENT IN REAL ESTATE, NET At June 30, 2025, the Company’s investment in real estate consisted of twenty properties located throughout the United States. These properties include sixteen apartment complexes, three single-family houses and one commercial real estate property. The Company also owns unimproved land located in Maui, Hawaii. Properties are held for use; one is classified as held for sale. See Note 10 for mortgage information and Note 1 for depreciation policies and impairment considerations. Investment in real estate included the following: SCHEDULE OF INVESTMENT IN REAL ESTATE
As of June 30, |  | 2025 |  |  | 2024 |
Land |  | $ | 22,293,000 |  |  | $ | 22,998,000 |
Buildings, improvements and equipment |  |  | 76,176,000 |  |  |  | 75,460,000 |
Accumulated depreciation |  |  | (55,146,000 | ) |  |  | (52,846,000 | )
Investment in real estate, gross |  |  | 43,323,000 |  |  |  | 45,612,000 |
Land held for development (a) |  |  | 1,930,000 |  |  |  | 1,930,000 |
Investment in real estate, net |  | $ | 45,253,000 |  |  | $ | 47,542,000 |
(a) | Represents approximately the two-acre parcel in Kihei, Maui, Hawaii (carried at cost, including capitalized amounts).
In April 2025, the Company determined that one multifamily property located in Los Angeles met the criteria for classification as held for sale, as described in Note 18 — Assets Held for Sale. Accordingly, the property is reported separately as Assets held for sale in the consolidated balance sheet as of June 30, 2025. The amounts presented in Note 5 — Investment in Real Estate, net exclude this property as of June 30, 2025. The following table reconciles investment in real estate, net from June 30, 2024 to June 30, 2025. SCHEDULE OF RECONCILES INVESTMENT IN REAL ESTATE
For the year ended June 30, 2025 |  | Amount |
Balance at June 30, 2024 |  | $ | 47,542,000 |
Additions (capital improvements) |  |  | 1,664,000 |
Depreciation expense |  |  | (2,990,000 | )
Held for sale |  |  | (963,000 | )
Disposals/transfers |  |  | - |
Balance at June 30, 2025 |  | $ | 45,253,000 |
Additions reflect capital improvements to the Company’s multifamily and commercial properties during the year. Depreciation expense reflects the change in accumulated depreciation for the period (from $52,846,000 to $55,842,000). There were no disposals or transfers, and one property was classified as held for sale during the period.

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 974 -SubTopic 720 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477728/974-720-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 976 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/976/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 978 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/978/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 970 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/970/tableOfContent Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 972 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/972/tableOfContent Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 974 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/974/tableOfContent + Details
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