XML 30 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Balance Sheets (USD $)
Sep. 30, 2014
Dec. 31, 2013
INVESTMENT PROPERTIES: (Note 3)    
Land $ 2,794,122 $ 2,794,122
Buildings 4,468,642 4,468,642
Accumulated depreciation (3,633,719) (3,532,203)
Net investment properties 3,629,045 3,730,561
OTHER ASSETS:    
Cash 219,452 244,319
Cash held in Indemnification Trust (Note 9) 452,912 452,645
Property tax cash escrow 15,348 25,697
Security deposits escrow 70,662 70,765
Rents and other receivables (net of allowance, $31,116 and $0, respectively) 260,713 470,478
Deferred tenant award proceeds escrow (Note 3) 155,855 171,948
Properties held for sale (Note 3) 261,616 269,269
Deferred rent receivable 0 2,250
Prepaid insurance 4,490 4,992
Deferred charges, net 158,077 178,987
Note receivable (Note 11) 136,487 163,491
Total other assets 1,735,612 2,054,841
Total assets 5,364,657 5,785,402
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 25,656 50,979
Property tax payable 28,384 25,701
Due to General Partner (Note 6) 1,037 1,227
Deferred rent 155,457 171,918
Security deposits 70,440 70,440
Unearned rental income 16,791 5,000
Total current liabilities 297,765 325,265
CONTINGENCIES AND COMMITMENTS (Notes 8 and 9)      
General Partner -    
Cumulative net income (retained earnings) 337,644 334,153
Cumulative cash distributions (140,378) (139,006)
Total general partners' capital 197,266 195,147
Limited Partners (46,280.3 interests outstanding at September 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) 39,792,655 39,447,019
Cumulative cash distributions (73,441,268) (72,700,268)
Total limited partners' capital 5,709,855 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 5,066,892 5,460,137
Total liabilities and partners' capital $ 5,364,657 $ 5,785,402