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Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
INVESTMENT PROPERTIES: (Note 3)    
Land $ 1,944,934 $ 1,944,934
Buildings 2,843,881 2,843,881
Accumulated depreciation (2,843,881) (2,843,881)
Net investment properties 1,944,934 1,944,934
Properties held for sale 250,859 583,013
OTHER ASSETS:    
Cash and cash equivalents 171,236 965,838
Investments held in Indemnification Trust (Note 8) 480,139 480,024
Security deposits escrow 59,464 59,425
Rents and other receivables 342,359 366,473
Prepaid state income tax 28,376
Deferred closing costs 12,413 16,067
Prepaid insurance 2,515 5,685
Deferred charges, net 258,394 314,825
Total other assets 1,354,896 2,208,337
Total assets 3,550,689 4,736,284
LIABILITIES:    
Accounts payable and accrued expenses 36,619 27,207
Due to General Partner (Note 5) 2,090 4,533
Deferred rent
Unearned rental income 53,114 73,891
Security deposits 52,320 59,340
Total liabilities 144,143 164,971
CONTINGENCIES AND COMMITMENTS (Notes 7 and 8)
General Partner -    
Cumulative net income (retained earnings) 420,502 399,805
Cumulative cash distributions (175,584) (166,024)
Total general partners’ capital 244,918 233,781
Limited Partners (46,280.3 interests outstanding at December 31, 2022 and 2021)    
Capital contributions 46,280,300 46,280,300
Offering costs (6,921,832) (6,921,832)
Cumulative net income (retained earnings) 47,995,656 45,946,561
Cumulative cash distributions (83,352,268) (80,127,268)
Total limited partners’ capital 4,001,856 5,177,761
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 3,406,545 4,571,313
Total liabilities and partners’ capital $ 3,550,689 $ 4,736,284