INVESTMENT IN REAL ESTATE (Tables)

6 Months Ended

Dec. 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	December 31, 2016		June 30, 2016
Land	$	25,033,000	$	25,033,000
Buildings, improvements and equipment		66,544,000		65,929,000
Accumulated depreciation		(35,721,000)		(34,606,000)
Investment in real estate, net	$	55,856,000	$	56,356,000