INVESTMENT IN REAL ESTATE AND MORTGAGE AND OTHER NOTES PAYABLE (Details) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Property, Plant and Equipment [Line Items]
Investment in real estate, net	$ 42,492,000	$ 41,897,000
Apartment Building [Member]
Property, Plant and Equipment [Line Items]
Land	25,781,000	25,781,000
Buildings, improvements and equipment	74,250,000	74,039,000
Accumulated depreciation	(36,658,000)	(36,123,000)
Investment in real estate, net	$ 63,373,000	$ 63,697,000