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Investment in Real Estate, Net
9 Months Ended
Mar. 31, 2020
Real Estate [Abstract]  
Investment in Real Estate, Net

NOTE 4 – INVESTMENT IN REAL ESTATE, NET

 

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

 

As of   March 31, 2020     June 30, 2019  
Land   $ 2,430,000     $ 2,430,000  
Buildings, improvements and equipment     2,921,000       2,922,000  
Accumulated depreciation     (1,545,000 )     (1,463,000 )
      3,806,000       3,889,000  
Land held for development     980,000       977,000  
Investment in real estate, net   $ 4,786,000     $ 4,866,000