|
Condensed Balance Sheets (Unaudited) (USD $)
|
Sep. 30, 2013
|
Dec. 31, 2012
|
| ASSETS |
|
|
| Investments in and advances to partnerships |
$ 1,688,528 |
$ 1,597,027 |
| Cash and cash equivalents |
5,019,375 |
7,674,174 |
| Note receivable and accrued interest, net of allowance of $619,000 in 2012 |
0 |
0 |
| Acquisition fees, principally paid to related parties, net of accumulated amortization of $19,656 and $29,508, respectively |
4,925 |
14,447 |
| Property purchase costs, net of accumulated amortization of $10,421 and $20,471, respectively |
3,110 |
6,390 |
| Total assets |
6,715,938 |
9,292,038 |
| LIABILITIES AND PARTNERS’ CAPITAL |
|
|
| Accounts payable and accrued expenses |
29,427 |
43,602 |
| Total liabilities |
29,427 |
43,602 |
| Commitments and contingencies |
0 |
0 |
| Capital paid in : |
|
|
| General Partners |
14,000 |
14,000 |
| Limited Partners |
24,837,000 |
24,837,000 |
| Total partners' (deficit) capital |
24,851,000 |
24,851,000 |
| Accumulated distributions to partners |
(22,190,962) |
(16,251,682) |
| Offering costs |
(2,689,521) |
(2,689,521) |
| Accumulated gains |
6,715,994 |
3,338,639 |
| Total partners' capital |
6,686,511 |
9,248,436 |
| Total liabilities and partners' capital |
$ 6,715,938 |
$ 9,292,038 |