INVESTMENT IN REAL ESTATE, NET (Tables) (Apartment Building [Member])

9 Months Ended

Mar. 31, 2015

Apartment Building [Member]

Real Estate Properties [Line Items]

Schedule of Real Estate Properties [Table Text Block]

Investment in real estate consisted of the following:

As of	March 31, 2015		June 30, 2014
Land	$	2,430,000	$	2,430,000
Buildings, improvements and equipment		2,580,000		2,580,000
Accumulated depreciation		(1,049,000)		(1,002,000)
		3,961,000		4,008,000
Land held for development		973,000		973,000
Investment in real estate, net	$	4,934,000	$	4,981,000