Schedule III

12 Months Ended

Dec. 31, 2011

Notes to Financial Statements

Schedule III

REAL ESTATE AND ACCUMULATED DEPRECIATION
As of December 31, 2011
 

Initial Cost				Gross Carrying Amount at December 31, 2011
Description	Acquisition Date	Land	Buildings and Improvements	Costs Subsequent to Acquisition	Land	Buildings and Improvements	Total	Accumulated Depreciation
Chico, CA	12/83	$ 209,700	$ 932,373	$ 12,419	$ 209,700	$ 944,792	$ 1,154,492	($ 944,792)
Fairfield, CA	01/84	264,500	1,267,896	34,810	264,500	1,302,706	1,567,206	(1,286,207)
La Verne, CA	08/84	453,250	1,243,974	41,451	453,250	1,285,425	1,738,675	(1,278,677)
Littleton, CO	05/85	431,250	1,423,811	45,827	431,250	1,469,638	1,900,888	(1,466,725)
Riverside, CA	06/84	356,000	1,391,210	55,307	356,000	1,446,517	1,802,517	(1,428,347)
		$1,714,700	$6,259,264	$189,814	$1,714,700	$6,449,078	$8,163,778	$(6,404,748)

Notes:

1. Depreciation expense is computed using the straight-line method over an estimated useful life of 20 years for the buildings.

2. There are no encumbrances.