INVESTMENT IN REAL ESTATE, NET

9 Months Ended

Mar. 31, 2016

NOTE 3 – INVESTMENT IN REAL ESTATE, NET

The Company owns and operates a 27-unit and 2-unit multi-family apartment complex located in Los Angeles, California and owns land held for development located in Maui, Hawaii. Investment in real estate consisted of the following:

As of	March 31, 2016		June 30, 2015
Land	$	2,430,000	$	2,430,000
Buildings, improvements and equipment		2,766,000		2,634,000
Accumulated depreciation		(1,127,000)		(1,065,000)
		4,069,000		3,999,000
Land held for development		973,000		973,000
Investment in real estate, net	$	5,042,000	$	4,972,000