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INVESTMENT IN REAL ESTATE, NET | 6 Months Ended
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Dec. 31, 2025
INVESTMENT IN REAL ESTATE, NET | NOTE 5 – INVESTMENT IN REAL ESTATE, NET At December 31, 2025, the Company’s investment in real estate consisted of twenty properties located throughout the United States. These properties include fifteen apartment complexes, three single-family houses as strategic investments, and one commercial real estate property. The Company also owns unimproved land located in Maui, Hawaii. Investment in real estate consisted of the following: SCHEDULE OF INVESTMENT IN REAL ESTATE
As of |  | December 31, 2025 |  |  | June 30, 2025 |
Land |  | $ | 22,293,000 |  |  | $ | 22,293,000 |
Buildings, improvements and equipment |  |  | 76,611,000 |  |  |  | 76,176,000 |
Accumulated depreciation |  |  | (56,663,000 | ) |  |  | (55,146,000 | )
Investment in real estate, gross |  |  | 42,241,000 |  |  |  | 43,323,000 |
Land held for development |  |  | 1,930,000 |  |  |  | 1,930,000 |
Investment in real estate, net |  | $ | 44,171,000 |  |  | $ | 45,253,000 |
In April 2025, the Company determined that one multifamily property located in Los Angeles met the criteria for classification as held for sale as of June 30, 2025. The property was sold in December 2025, and the Company recognized a gain on sale of $3,508,000 during the six months ended December 31, 2025 (see Note 15 – Disposition of Real Estate). Building, improvements, and equipment are stated at cost, depreciated on a straight-line basis over their useful lives ranging from 5 to 40 years. During the six months ended December 31, 2025, the Company invested $521,000 in capitalized improvements. Depreciation expense related to the Company’s investment in real estate for the six months ended December 31, 2025 and 2024 was $1,517,000 and $1,484,000, respectively.

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- Definition Tabular disclosure of nonconsolidated investments in real estate including interests in corporations, partnerships and joint ventures. Disclosures may include summarized aggregate financial statements for the real estate investments. + References No definition available. + Details
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