Investment in Real Estate, Net

12 Months Ended

Jun. 30, 2021

Real Estate [Abstract]

Investment in Real Estate, Net

NOTE 5 - INVESTMENT IN REAL ESTATE, NET

At June 30, 2021, the Company’s investment in real estate consisted of twenty 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,	2021			2020
Land	$	22,998,000		$	23,565,000
Buildings, improvements and equipment		68,173,000			69,417,000
Accumulated depreciation		(44,930,000	)		(44,112,000	)
		46,241,000			48,870,000
Land held for development		1,468,000			1,468,000
Investment in real estate, net	$	47,709,000		$	50,338,000