INVESTMENT IN REAL ESTATE, NET

3 Months Ended

Sep. 30, 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	September 30, 2016		June 30, 2016
Land	$	2,430,000	$	2,430,000
Buildings, improvements and equipment		2,861,000		2,797,000
Accumulated depreciation		(1,173,000)		(1,149,000)
		4,118,000		4,078,000
Land held for development		973,000		973,000
Investment in real estate, net	$	5,091,000	$	5,051,000