INVESTMENT IN REAL ESTATE, NET

12 Months Ended

Jun. 30, 2017

Real Estate Properties [Line Items]

Real Estate Disclosure [Text Block]

NOTE 4 - INVESTMENT IN REAL ESTATE, NET

At June 30, 2017, the Company's investment in real estate consisted of twenty one properties located throughout the United States. These properties include sixteen apartment complexes, three single-family houses as strategic investments, and one commercial real estate property. The Company also owns unimproved land located in Maui, Hawaii.

Investment in real estate included the following:

As of June 30,	2017		2016
Land	$	25,033,000	$	25,033,000
Buildings, improvements and equipment		66,804,000		65,929,000
Accumulated depreciation		(36,853,000)		(34,606,000)
	$	54,984,000	$	56,356,000