| UNIPROP MANUFACTURED HOUSING COMMUNITIES INCOME FUND II, | |||||||||||||||||
| A MICHIGAN LIMITED PARTNERSHIP | |||||||||||||||||
| STATEMENTS OF INCOME | THREE MONTHS ENDED | ||||||||||||||||
| March 31, 2002 | March 31, 2001 | ||||||||||||||||
| (unaudited) | (unaudited) | ||||||||||||||||
| Income: | |||||||||||||||||
| Rental Income | $3,003,960 | $3,099,590 | -- | ||||||||||||||
| Other | 146,337 | 192,457 | |||||||||||||||
| Home Sale Income | 168,436 | 151,000 | |||||||||||||||
| Total Income | $3,318,733 | $3,443,047 | |||||||||||||||
| Operating Expenses: | |||||||||||||||||
| Administrative Expenses | |||||||||||||||||
| (Including $156,921 and $162,683, in Property Management | |||||||||||||||||
| Fees Paid to an Affiliate for the Three Month Period Ending | |||||||||||||||||
| March 31, 2002 and 2001 Respectively) | 840,742 | 845,724 | |||||||||||||||
| Property Taxes | 270,234 | 241,805 | |||||||||||||||
| Utilities | 214,815 | 208,143 | |||||||||||||||
| Property Operations | 415,672 | 364,230 | |||||||||||||||
| Depreciation And Amortization | 431,227 | 450,237 | |||||||||||||||
| Interest | 458,046 | 466,810 | |||||||||||||||
| Home Sale Expense | 185,095 | 209,430 | |||||||||||||||
| Total Operating Expenses | $2,815,831 | $2,786,379 | |||||||||||||||
| Net Income | $502,902 | $656,668 | |||||||||||||||
| Income Per Unit: | 0.15 | 0.20 | |||||||||||||||
| Distribution Per Unit: | 0.21 | 0.19 | |||||||||||||||
| Weighted Average Number Of Units | |||||||||||||||||
| Of Beneficial Assignment Of Limited Partnership | |||||||||||||||||
| Interest Outstanding During The Period Ending | |||||||||||||||||
| March 31, 2002 and 2001 | 3,303,387 | 3,303,387 | |||||||||||||||
| STATEMENT OF PARTNERS' EQUITY (Unaudited) | |||||||||||||||||
| General Partner | Unit Holders | Total | |||||||||||||||
| Balance, January 1, 2002 | $299,427 | $15,530,504 | $15,829,931 | ||||||||||||||
| Distributions | - | (693,711) | (693,711) | ||||||||||||||
| Net Income | 5,029 | 497,873 | 502,902 | ||||||||||||||
| Balance as of March 31, 2002 | $304,456 | $15,334,666 | $15,639,122 | ||||||||||||||
| See Notes to Financial Statements | |||||||||||||||||
| 4 | |||||||||||||||||