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NOTE 3.. RENTAL PROPERTY
9 Months Ended
Sep. 30, 2025
Block 40 L L C 2024 [Member]  
NOTE 3.. RENTAL PROPERTY

NOTE 3.. RENTAL PROPERTY

 

Rental property at December 31, 2024 consisted of the following:

      
Land  $4,504,624 
Building - residential   104,550,314 
Building - commercial   11,661,662 
Building and land improvements   3,877,968 
Fixtures and personal property   13,835,318 
Tenant Improvements   1,528,950 
    139,958,836 
      
Less: accumulated depreciation   (18,894,674)
   $121,064,162 

Depreciation expense amounted to approximately $7,127,000 for the year ended December 31, 2024. Amortization of tenant improvements amounted to approximately $76,000 for the year ended December 31, 2024, and is included as a component of revenue in the accompanying consolidated statement of operations.