INVESTMENT IN REAL ESTATE, NET

12 Months Ended

Jun. 30, 2023

Real Estate [Abstract]

INVESTMENT IN REAL ESTATE, NET

NOTE 5 - INVESTMENT IN REAL ESTATE, NET

At June 30, 2023, 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,	2023			2022
Land	$	22,998,000		$	22,998,000
Buildings, improvements and equipment		73,151,000			70,933,000
Accumulated depreciation		(50,022,000	)		(47,374,000	)
		46,127,000			46,557,000
Land held for development		1,930,000			1,468,000
Investment in real estate, net	$	48,057,000		$	48,025,000