INVESTMENT IN REAL ESTATE (Tables)

9 Months Ended

Mar. 31, 2016

Apartment Building [Member]

Real Estate Properties [Line Items]

Schedule of Real Estate Properties [Table Text Block]

Investment in real estate consisted of the following:

As of	March 31, 2016		June 30, 2015
Land	$	24,828,000	$	23,453,000
Buildings, improvements and equipment		66,016,000		64,828,000
Accumulated depreciation		(34,061,000)		(32,513,000)
Investment in real estate, net	$	56,783,000	$	55,768,000