XML 27 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONDENSED BALANCE SHEETS (USD $)
Jun. 30, 2014
Dec. 31, 2013
INVESTMENT PROPERTIES: (Note 3)    
Land $ 2,956,118 $ 2,956,118
Buildings 5,028,699 5,028,699
Accumulated depreciation (4,060,040) (3,984,987)
Net investment properties 3,924,777 3,999,830
OTHER ASSETS:    
Cash 250,710 244,319
Cash held in Indemnification Trust (Note 9) 452,806 452,645
Property tax cash escrow 22,448 25,697
Security deposits escrow 70,528 70,765
Rents and other receivables (net of allowance, $31,116 and $0, respectively) 52,602 470,478
Deferred tenant award proceeds escrow (Note 3) 161,044 171,948
Deferred rent receivable 0 2,250
Prepaid insurance 7,396 4,992
Deferred charges, net 164,800 178,987
Note receivable (Note 11) 145,652 163,491
Total other assets 1,327,986 1,785,572
Total assets 5,252,763 5,785,402
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 63,858 50,979
Property tax payable 30,597 25,701
Due to General Partner (Note 6) 335 1,227
Deferred rent 160,944 171,918
Security deposits 70,440 70,440
Unearned rental income 5,000 5,000
Total current liabilities 331,174 325,265
CONTINGENCIES AND COMMITMENTS (Notes 8 and 9)      
General Partner -    
Cumulative net income (retained earnings) 335,021 334,153
Cumulative cash distributions (139,341) (139,006)
Total general partners' capital 195,680 195,147
Limited Partners (46,280.3 interests outstanding at June 30, 2014 and December 31, 2013)    
Capital contributions 46,280,300 46,280,300
Offering Costs (6,921,832) (6,921,832)
Cumulative net income (retained earnings) 39,532,938 39,447,019
Cumulative cash distributions (73,325,268) (72,700,268)
Total limited partners' capital 5,566,138 6,105,219
Former General Partner -    
Cumulative net income (retained earnings) 707,513 707,513
Cumulative cash distributions (1,547,742) (1,547,742)
Total former general partners' capital (840,229) (840,229)
Total partners' capital 4,921,589 5,460,137
Total liabilities and partners' capital $ 5,252,763 $ 5,785,402