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Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
INVESTMENT PROPERTIES: (Note 3)    
Land $ 1,944,934
Buildings 2,843,881
Accumulated depreciation (2,843,881)
Net investment properties 1,944,934
Properties held for sale 725,765 250,859
OTHER ASSETS:    
Cash and cash equivalents 179,745 171,236
Investments held in Indemnification Trust (Note 8) 487,947 480,139
Security deposits escrow 17,356 59,464
Rents and other receivables 145,120 342,359
Prepaid state income tax 35,118 28,376
Deferred closing costs 31,291 12,413
Prepaid insurance 1,577 2,515
Deferred charges, net 89,906 258,394
Total other assets 988,060 1,354,896
Total assets 1,713,825 3,550,689
LIABILITIES:    
Accounts payable and accrued expenses 6,466 36,619
Due to General Partner (Note 5) 29,048 2,090
Accrued state income tax 204,872
Distributions payable 234,495
Unearned rental income 53,114
Security deposits 17,230 52,320
Total liabilities 492,111 144,143
CONTINGENCIES AND COMMITMENTS (Notes 7 and 8)
General Partner (1993-2023)    
Cumulative net income (retained earnings) 543,341 420,502
Cumulative cash distributions (232,466) (175,584)
Total general partners’ capital 310,875 244,918
Limited Partners (46,280.3 interests outstanding at December 31, 2023 and 2022)    
Capital contributions 46,280,300 46,280,300
Offering costs (6,921,832) (6,921,832)
Cumulative net income (retained earnings) 60,156,589 47,995,656
Cumulative cash distributions (97,763,989) (83,352,268)
Total limited partners’ capital 1,751,068 4,001,856
Former General Partner (1987-1993)    
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 1,221,714 3,406,545
Total liabilities and partners’ capital $ 1,713,825 $ 3,550,689