Annual report pursuant to Section 13 and 15(d)

Investment in Real Estate

v3.20.1
Investment in Real Estate
12 Months Ended
Dec. 31, 2019
Real Estate [Abstract]  
Investment In Real Estate

NOTE 6 – INVESTMENT IN REAL ESTATE

 

At December 31, 2019 and 2018, investment in real estate consisted of the following:

 

    Useful life   December 31, 2019     December 31, 2018  
Commercial real property building   39 Years   $ 7,708,571     $ 7,708,571  
Improvement   12 Years     407,827       391,506  
          8,116,398       8,100,077  
Less: accumulated depreciation         (380,718 )     (220,192 )
        $ 7,735,680     $ 7,879,885  

 

For the years ended December 31, 2019 and 2018, depreciation expense of this commercial real property amounted to $160,527 and $135,378, which was included in real property operating expenses.