Annual report pursuant to Section 13 and 15(d)

Investment in Real Estate

v3.22.1
Investment in Real Estate
12 Months Ended
Dec. 31, 2021
Real Estate [Abstract]  
INVESTMENT IN REAL ESTATE

NOTE 6 – INVESTMENT IN REAL ESTATE

 

At December 31, 2021 and 2020, investment in real estate consisted of the following:

 

    Useful life   December 31,
2021
    December 31,
2020
 
Commercial real property building   39 Years   $ 7,708,571     $ 7,708,571  
Improvement   12 Years     529,372       519,040  
          8,237,943       8,227,611  
Less: accumulated depreciation         (709,173 )     (541,925 )
        $ 7,528,770     $ 7,685,686  

 

For the years ended December 31, 2021 and 2020, depreciation expense of this commercial real property amounted to $167,248 and $169,177, which was included in real property operating expenses.