INVESTMENT IN REAL ESTATE AND MORTGAGE AND OTHER NOTES PAYABLE (Details) (USD $)	Dec. 31, 2014	Jun. 30, 2014
Property, Plant and Equipment [Line Items]
Investment in real estate, net	$ 61,429,000	$ 63,697,000
Apartment Building [Member]
Property, Plant and Equipment [Line Items]
Accumulated depreciation	(36,194,000)	(36,123,000)
Investment in real estate, net	61,429,000	63,697,000
Apartment Building [Member] | Land [Member]
Property, Plant and Equipment [Line Items]
Cost	24,741,000	25,781,000
Apartment Building [Member] | Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Cost	$ 72,882,000	$ 74,039,000