INVESTMENT IN REAL ESTATE AND MORTGAGE AND OTHER NOTES PAYABLE (Details) (USD $)	Mar. 31, 2015	Jun. 30, 2014
Property, Plant and Equipment [Line Items]
Investment in real estate, net	$ 56,123,000	$ 63,697,000
Apartment Building [Member]
Property, Plant and Equipment [Line Items]
Accumulated depreciation	(32,039,000)	(36,123,000)
Investment in real estate, net	56,123,000	63,697,000
Apartment Building [Member] | Land [Member]
Property, Plant and Equipment [Line Items]
Cost	23,453,000	25,781,000
Apartment Building [Member] | Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Cost	$ 64,709,000	$ 74,039,000