Quarterly report pursuant to Section 13 or 15(d)

Investment in Real Estate

v3.19.1
Investment in Real Estate
3 Months Ended
Mar. 31, 2019
Real Estate [Abstract]  
INVESTMENT IN REAL ESTATE

NOTE 7 – INVESTMENT IN REAL ESTATE

 

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

 

    Useful life   March 31, 2019     December 31, 2018  
Commercial real property building   39 Years   $ 7,708,571     $ 7,708,571  
Improvement   12 Years     402,844       391,506  
          8,111,415       8,100,077  
Less: accumulated depreciation         (260,153 )     (220,192 )
        $ 7,851,262     $ 7,879,885  

 

For the three months ended March 31, 2019 and 2018, depreciation expense of this commercial real property amounted to $39,961 and $31,805, which was included in real property operating expenses.