Annual report pursuant to Section 13 and 15(d)

INVESTMENT IN REAL ESTATE

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INVESTMENT IN REAL ESTATE
12 Months Ended
Dec. 31, 2017
Real Estate [Abstract]  
INVESTMENT IN REAL ESTATE

NOTE 9 – INVESTMENT IN REAL ESTATE

 

At December 31, 2017 and 2016, investment in real estate consisted of the following:

 

    Useful life   December 31, 2017     December 31, 2016  
Commercial real property   39 Years   $ 7,708,571     $  
Less: accumulated depreciation         (84,814 )      
        $ 7,623,757     $  

 

For the year ended December 31, 2017, depreciation expense of this commercial real property amounted to $84,814, which was included in real property operating expenses.