INVESTMENT IN REAL ESTATE (Tables)

9 Months Ended

Mar. 31, 2017

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, 2017		June 30, 2016
Land	$	25,033,000	$	25,033,000
Buildings, improvements and equipment		66,634,000		65,929,000
Accumulated depreciation		(36,285,000)		(34,606,000)
Investment in real estate, net	$	55,382,000	$	56,356,000