Del Taco Income Properties Iv (DTIPIV) 10-K 2 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	FALSE
Document Period End Date	31-Dec-14
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Trading Symbol	DTIPIV
Entity Registrant Name	DEL TACO INCOME PROPERTIES IV
Entity Central Index Key	812630
Current Fiscal Year End Date	-19
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	165,375
Entity Public Float	$0

Balance_Sheets

Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
CURRENT ASSETS
Cash	$118,794	$126,862
Receivable from Del Taco LLC	39,830	38,611
Deposits	732	627
Total current assets	159,356	166,100
PROPERTY AND EQUIPMENT
Land	868,344	868,344
Land improvements	368,356	368,356
Buildings and improvements	1,289,860	1,289,860
Machinery and equipment	484,789	484,789
Property and equipment, gross	3,011,349	3,011,349
Less: accumulated depreciation	1,766,445	1,729,593
Property and equipment, net	1,244,904	1,281,756
Total assets	1,404,260	1,447,856
CURRENT LIABILITIES
Payable to limited partners	20,152	20,133
Accounts payable	17,074	12,530
Total current liabilities	37,226	32,663
OBLIGATION TO GENERAL PARTNER	137,953	137,953
PARTNERS' EQUITY
Limited partners; 165,375 units outstanding at December 31, 2014 and 2013	1,247,924	1,295,601
General partner-Del Taco LLC	-18,843	-18,361
Total partners' equity	1,229,081	1,277,240
Total liabilities and partners' equity	$1,404,260	$1,447,856

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical)	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011
Statement of Financial Position [Abstract]
Limited partners, units outstanding	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375

Statements_of_Income

Statements of Income (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Statement [Abstract]
RENTAL REVENUES	$463,395	$439,860	$424,716
EXPENSES
General and administrative	93,378	71,826	68,363
Depreciation	36,852	36,852	36,852
Total expenses	130,230	108,678	105,215
Operating income	333,165	331,182	319,501
OTHER INCOME
Interest	132	117	106
Other	1,145	475	940
Net income	$334,442	$331,774	$320,547
Net income per limited partnership unit (Note 2)	$2	$1.99	$1.92
Number of limited partnership units used in computing per unit amounts	165,375	165,375	165,375

Statements_of_Partners_Equity

Statements of Partners' Equity (USD $)	Total	Limited Partners [Member]	General Partner [Member]
Balance at Dec. 31, 2011	$1,333,551	$1,351,349	($17,798)
Balance, shares at Dec. 31, 2011		165,375
Net Income	320,547	317,342	3,205
Cash Distributions	-343,650	-340,214	-3,436
Balance at Dec. 31, 2012	1,310,448	1,328,477	-18,029
Balance, shares at Dec. 31, 2012		165,375
Net Income	331,774	328,456	3,318
Cash Distributions	-364,982	-361,332	-3,650
Balance at Dec. 31, 2013	1,277,240	1,295,601	-18,361
Balance, shares at Dec. 31, 2013		165,375
Net Income	334,442	331,098	3,344
Cash Distributions	-382,601	-378,775	-3,826
Balance at Dec. 31, 2014	$1,229,081	$1,247,924	($18,843)
Balance, shares at Dec. 31, 2014		165,375

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$334,442	$331,774	$320,547
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	36,852	36,852	36,852
Changes in operating assets and liabilities:
Receivable from Del Taco LLC	-1,219	-2,850	-67
Deposits	-105	-75
Payable to limited partners	19	1,968	797
Accounts payable	4,544	-3,476	-5,073
Net cash provided by operating activities	374,533	364,193	353,056
CASH FLOWS FROM FINANCING ACTIVITIES -
Cash distributions to partners	-382,601	-364,982	-343,650
Net cash used in financing activities	-382,601	-364,982	-343,650
Net change in cash	-8,068	-789	9,406
Beginning cash balance	126,862	127,651	118,245
Ending cash balance	$118,794	$126,862	$127,651

Organization_and_Summary_of_Si

Organization and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Organization and Summary of Significant Accounting Policies	NOTE 1 — ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	The Partnership: Del Taco Income Properties IV, a California limited partnership, (the Partnership) was formed on March 23, 1987, for the purpose of acquiring real property in California for construction of three Mexican-American restaurants to be leased under long-term agreements to Del Taco LLC (General Partner or Del Taco), for operation under the Del Taco trade name. The term of the partnership agreement is until December 31, 2027 unless terminated earlier by means provided in the partnership agreement.
	The Partnership has no full-time employees (see Note 5). The partnership agreement assigns full authority for general management and supervision of the business affairs of the partnership to the General Partner. The General Partner has a one percent interest in the profits or losses and distributions of the Partnership. Limited partners have no right to participate in the day to day management or conduct of the Partnership’s business affairs.
	Distributions are made to the General and limited partners in accordance with the provisions of the Partnership agreement (see Note 2).
	Basis of Accounting: The Partnership utilizes the accrual method of accounting for transactions relating to the business of the Partnership. The summary of significant accounting policies presented below is designed to assist in understanding the Partnership’s financial statements. Such financial statements and accompanying notes are the representations of the Partnership’s management, who is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects, and have been consistently applied in preparing the accompanying financial statements.
	Property and Equipment: Property and equipment is stated at cost. Depreciation is computed using the straight-line method over estimated useful lives which are 20 years for land improvements, 35 years for buildings and improvements, and 10 years for machinery and equipment.
	The Partnership accounts for property and equipment in accordance with authoritative guidance issued by the Financial Accounting Standards Board that requires long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. In evaluating long-lived assets held for use, an impairment loss is recognized if the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying value of the asset. Once a determination has been made that an impairment loss should be recognized for long-lived assets, various assumptions and estimates are used to determine fair value including, among others, estimated costs of construction and development, recent sales of comparable properties and the opinions of fair value prepared by independent real estate appraisers. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.
	Income Taxes: No provision has been made for federal or state income taxes on partnership net income, since the Partnership is not subject to income tax. Partnership income is includable in the taxable income of the individual partners as required under applicable income tax laws. Certain items, primarily related to depreciation methods, are accounted for differently for income tax reporting purposes (see Note 6).
	Net Income Per Limited Partnership Unit: Net income per limited partnership unit is based on net income attributable to the limited partners (after 1% allocation to the general partner) using the weighted average number of units outstanding during the periods presented which amounted to 165,375 units for all years presented.
	Use of Estimates: The preparation of the financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
	Revenue Recognition: Rental revenue is recognized based on 12 percent of gross sales of the restaurants for the corresponding period, and is earned at the point of sale. Supplemental rent is calculated on an annual basis and recorded in the fourth quarter since the amount of supplemental rent, if any, is contingent upon the amount of annual gross sales and pretax profits of the restaurants which are not known until the end of the year. The amount of supplemental rent, if any, is the lesser of (a) the supplemental rental rate of 14.6 percent times the aggregate property costs of $3,011,349, less 12 percent of gross sales of the restaurants, or (b) 50 percent of the aggregate pretax profit, less general and administrative expenses (as defined) and 50 percent of the franchise royalties paid (as defined). To the extent 12 percent of gross sales of the restaurants exceeds the supplemental rent rate the supplemental rent would be zero. There was no supplemental rent in 2014.
	Concentration of Risk: The three restaurants leased to Del Taco make up all of the income producing assets of the Partnership and contributed all of the Partnership’s rental revenues for the three years ended December 31, 2014. Therefore, the business of the Partnership is entirely dependent on the success of the Del Taco trade name restaurants that lease the properties.
	The Partnership maintains substantially all of its cash and cash equivalents at one major commercial bank. Although the Partnership at times maintains balances that exceed the federally insured limit, it has not experienced any losses related to these balances and management believes the credit risk to be minimal.
	Fair Value of Financial Instruments: The fair values of cash, accounts receivables, deposits, accounts payable and payables to limited partners approximate the carrying amounts due to their short maturities.
	Subsequent Events: Management has evaluated events subsequent to December 31, 2014 through the date the accompanying financial statements were filed with the Securities and Exchange Commission for transactions and other events that may require adjustment of and/or disclosure in such financial statements (see Note 11).

Partners_Equity

Partners' Equity	12 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Partners' Equity	NOTE 2 — PARTNERS’ EQUITY
	Pursuant to the partnership agreement, annual partnership income or loss is allocated one percent to Del Taco and 99 percent to the limited partners. Partnership gains from any sale or refinancing will be allocated one percent to the General Partner and 99 percent to the limited partners until allocated gains and profits equal losses, distributions and syndication costs, and until each class of limited partners receive their priority return as defined in the partnership agreement. Additional gains will be allocated 12 percent to the General Partner and 88 percent to the limited partners.

Obligation_to_General_Partner

Obligation to General Partner	12 Months Ended
	Dec. 31, 2014
Text Block [Abstract]
Obligation to General Partner	NOTE 3 — OBLIGATION TO GENERAL PARTNER
	Under terms of the partnership agreement, the General Partner is entitled to receive a fee in an amount equal to five percent of the gross proceeds of the offering. The fee shall be for services rendered in connection with site selection and the design and supervision of construction of improvements to acquired properties. One percent of the gross proceeds of the offering has been paid to the General Partner. The remaining four percent of this fee shall be earned at the time the services are rendered, but shall not be paid and shall be subordinated to the limited partners’ interests until all restaurants have opened and the limited partners have received certain minimum returns on their investment, as required by the partnership agreement. It is the policy of the Partnership to accrue the site selection and development fee as an obligation to the General Partner. No fees were earned for such services during 2014, 2013, and 2012.

Leasing_Activities

Leasing Activities	12 Months Ended
	Dec. 31, 2014
Leases [Abstract]
Leasing Activities	NOTE 4 — LEASING ACTIVITIES
	The Partnership leases its properties for operation of restaurants to Del Taco on a triple net basis. The leases are for terms of 32 years commencing with the completion of the restaurant facility located on each property and require monthly rentals equal to 12 percent of the gross sales of the restaurants. Supplemental rent (as defined in the partnership agreement) may be earned if certain criteria are met. No supplemental rent was earned for the years ended December 31, 2014, 2013, and 2012, respectively. The leases terminate in the years 2021 to 2022. Pursuant to the lease agreements, minimum rentals of $3,500 per month are due to the Partnership during the first six months of any non-operating period caused by an insured casualty loss. The Partnership had a total of three properties leased to Del Taco as of December 31, 2014, 2013, and 2012 (Del Taco, in turn, has subleased one of the restaurants to a Del Taco franchisee for each of the three years ended December 31, 2014).
	The two restaurants operated by Del Taco, for which the Partnership is the lessor, had combined, unaudited sales of $2,426,746, $2,326,201, and $2,238,685 and unaudited net income of $23,370 and unaudited net losses of $7,609 and $1,834 for the years ended December 31, 2014, 2013, and 2012, respectively. Del Taco net income by restaurant includes charges for general and administrative expenses incurred in connection with supervision of restaurant operations and interest expense and the decrease in net loss from the corresponding period of the prior year primarily relates to increased sales. The one restaurant operated by a Del Taco franchisee, for which the Partnership is the lessor, had unaudited sales of $1,434,879, $1,339,301, and $1,300,615 for the years ended December 31, 2014, 2013, and 2012, respectively.

Related_Parties

Related Parties	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
Related Parties	NOTE 5 — RELATED PARTIES
	The receivable from Del Taco consists of rent accrued for the months of December 2014 and 2013. This amount was collected in January 2015 and 2014, respectively.
	The General Partner received $3,826, $3,650 and $3,436 in distributions relating to its one percent interest in the Partnership for the years ended December 31, 2014, 2013 and 2012, respectively.
	Del Taco serves in the capacity of General Partner in other partnerships which are engaged in the business of operating restaurants, and three other partnerships which were formed for the purpose of acquiring real property in California for construction of Mexican-American restaurants for lease under long-term agreements to Del Taco.
	The General Partner provides certain minimal managerial and accounting services to the Partnership at no cost.

Income_Taxes_Unaudited

Income Taxes (Unaudited)	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Income Taxes (Unaudited)	NOTE 6 — INCOME TAXES (UNAUDITED)
	The Partnership is not subject to income taxes because its income is taxed directly to the General Partner and limited partners. The reconciling items presented in the table below are the only items that create a difference between the tax basis and reported amounts of the Partnership’s assets and liabilities.
	A reconciliation of financial statement net income to taxable income for each of the periods is as follows:
		2014			2013			2012
	Net income per financial statements	$	334,442		$	331,774		$	320,547
	Excess tax depreciation		(3,501	)		(3,501	)		(3,501	)
	Taxable income	$	330,941		$	328,273		$	317,046
	A reconciliation of partnership equity per the financial statements to partners’ equity for tax purposes as of December 31, 2014, is as follows (unaudited):
	Partners’ equity per financial statements	$	1,229,081
	Issue costs of limited partnership units capitalized for tax purposes		579,259
	Difference in book vs. tax depreciation		272,609
	Partners’ equity for tax purposes	$	2,080,949

Cash_Distributions_to_Limited_

Cash Distributions to Limited Partners	12 Months Ended
	Dec. 31, 2014
Text Block [Abstract]
Cash Distributions to Limited Partners	NOTE 7 — CASH DISTRIBUTIONS TO LIMITED PARTNERS
	Cash distributions paid to limited partners for the three years ended December 31, 2014 were as follows:
	Quarter Ended	Cash		Weighted		Number of Units
		Distribution per		Average Number		Outstanding at
		Limited Partnership		of Units		the End of
		Unit		Outstanding		Quarter
	December 31, 2011	$	0.48		165,375		165,375
	March 31, 2012		0.48		165,375		165,375
	June 30, 2012		0.56		165,375		165,375
	September 30, 2012		0.54		165,375		165,375
	Total paid in 2012	$	2.06
	December 31, 2012	$	0.6		165,375		165,375
	March 31, 2013		0.47		165,375		165,375
	June 30, 2013		0.54		165,375		165,375
	September 30, 2013		0.58		165,375		165,375
	Total paid in 2013	$	2.19
	December 31, 2013	$	0.58		165,375		165,375
	March 31, 2014		0.55		165,375		165,375
	June 30, 2014		0.59		165,375		165,375
	September 30, 2014		0.57		165,375		165,375
	Total paid in 2014	$	2.29
	Cash distributions per limited partnership unit were calculated based upon the weighted average number of units outstanding for each quarter and were paid from operations. Distributions declared in January 2015 amounted to $0.52 per limited partnership unit and were paid in February 2015.

Results_by_Quarter_Unaudited

Results by Quarter (Unaudited)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Results by Quarter (Unaudited)	NOTE 8 — RESULTS BY QUARTER (UNAUDITED)
		First		Second		Third		Fourth
		Quarter		Quarter		Quarter		Quarter
	Year ended December 31, 2014
	Rental revenues	$	109,722	$	115,639	$	118,504	$	119,530
	Net income		63,651		93,639		87,919		89,233
	Net income per limited partnership unit		0.38		0.56		0.53		0.53
	Year ended December 31, 2013
	Rental revenues	$	104,389	$	109,976	$	110,873	$	114,622
	Net income		58,951		87,793		91,793		93,237
	Net income per limited partnership unit		0.35		0.53		0.55		0.56

Payable_to_Limited_Partners

Payable to Limited Partners	12 Months Ended
	Dec. 31, 2014
Other Liabilities Disclosure [Abstract]
Payable to Limited Partners	NOTE 9 — PAYABLE TO LIMITED PARTNERS
	Payable to limited partners represents a reclassification from cash for distribution checks made to limited partners that have remained outstanding for six months or longer.

Communication_from_Certain_Lim

Communication from Certain Limited Partners and Straw Poll Results	12 Months Ended
	Dec. 31, 2014
Text Block [Abstract]
Communication from Certain Limited Partners and Straw Poll Results	Note 10 - COMMUNICATION FROM CERTAIN LIMITED PARTNERS AND STRAW POLL RESULTS
	During the third quarter of 2014, several limited partners communicated to the General Partner their desire to potentially sell all of the properties and then dissolve the Partnership. Pursuant to the Partnership agreement, any decision to sell all of the properties and to dissolve the Partnership would require approval from a majority in interest of limited partners. On October 1, 2014 the General Partner initiated a “straw poll” of all limited partners to determine if there is sufficient interest to support a potential sale of the properties and dissolution of the Partnership, as disclosed in Form 8-K filed on October 1, 2014. Limited partner responses to the straw poll were received during the fourth quarter of 2014 and on December 17, 2014, Del Taco filed a Form 8-K to disclose the results of the poll. The poll was intended to gauge interest level only and the results indicate a strong majority of the units responded either “open to” or “strongly in favor of” Del Taco testing the market and presenting a sale proposal to the limited partners for a vote. Accordingly, Del Taco filed a Form 8-K on January 12, 2015 indicating its intention to initiate a sale process to market the properties owned by the Partnership that may result in the presentation of a sale transaction to the limited partners for approval (see Note 11).

Subsequent_Events

Subsequent Events	12 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Events	Note 11 - SUBSEQUENT EVENTS
	The Partnership filed a Form 8-K on January 12, 2015 indicating its intention to initiate a sale process to market the properties owned by the Partnership that may result in the presentation of a sale transaction to the limited partners for approval. Del Taco intended to appoint a special committee comprised of a small group of qualified limited partners to facilitate the sale process and to manage any potential conflicts of interest with respect to Del Taco that may arise during the sale process, however, zero timely applications were received. Therefore, the sale process has commenced without a special committee and Del Taco will resolve any potential conflicts of interest pursuant to the Partnership’s partnership agreement and applicable law. The sale process may result in the presentation of a sale transaction to the limited partners for approval; however, there are no assurances that Del Taco will receive any offers or will be successful in entering into a binding agreement to sell the properties. On February 17, 2015, affiliates of MacKenzie Realty Capital, Inc. (“MacKenzie”), a limited partner, filed a Schedule TO initiating a tender offer to purchase all units of the Partnership. The MacKenzie tender offer is unrelated to the sale process that Del Taco has initiated. On February 27, 2015, the Partnership filed a Schedule 14D-9 solicitation/recommendation statement in response to the Schedule TO.

Schedule_III_Real_Estate_and_A

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2014
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	DEL TACO INCOME PROPERTIES IV
	SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
	31-Dec-14
				Initial cost to company				Cost		Gross amount						Life on which
								capitalized		at which carried						depreciation in
								subsequent to		at close of						latest income
								acquisition		period						statement is
	Description	Encumbrances		Land & land		Building &		Carrying costs		Land,		Accumulated		Date of	Date	computed
	(All Restaurants)			improvements		Improvements				buildings &		depreciation		construction	acquired
										improvements
										Total
	Placentia, CA	$	—	$	465,933	$	485,961	$	—	$	951,894	$	482,865	1988	1988	20 (LI), 35 (BI)
	Lake Elsinore, CA		—		449,058		468,361		—		917,419		465,378	1989	1989	20 (LI), 35 (BI)
	San Bernardino, CA		—		321,709		335,538		—		657,247		333,383	1989	1989	20 (LI), 35 (BI)
		$	—	$	1,236,700	$	1,289,860	$	—	$	2,526,560	$	1,281,626
		Restaurants		Accumulated
				Depreciation
	Balances at December 31, 2011	$	2,526,560	$	1,171,070
	Additions		—		36,852
	Retirements		—		—
	Balances at December 31, 2012		2,526,560		1,207,922
	Additions		—		36,852
	Retirements		—		—
	Balances at December 31, 2013		2,526,560		1,244,774
	Additions		—		36,852
	Retirements		—		—
	Balances at December 31, 2014	$	2,526,560	$	1,281,626
	The aggregate cost basis of Del Taco Income Properties IV real estate assets for Federal income tax purposes was $2,526,560 (unaudited) at December 31, 2014.

Organization_and_Summary_of_Si1

Organization and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
The Partnership	The Partnership: Del Taco Income Properties IV, a California limited partnership, (the Partnership) was formed on March 23, 1987, for the purpose of acquiring real property in California for construction of three Mexican-American restaurants to be leased under long-term agreements to Del Taco LLC (General Partner or Del Taco), for operation under the Del Taco trade name. The term of the partnership agreement is until December 31, 2027 unless terminated earlier by means provided in the partnership agreement.
	The Partnership has no full-time employees (see Note 5). The partnership agreement assigns full authority for general management and supervision of the business affairs of the partnership to the General Partner. The General Partner has a one percent interest in the profits or losses and distributions of the Partnership. Limited partners have no right to participate in the day to day management or conduct of the Partnership’s business affairs.
	Distributions are made to the General and limited partners in accordance with the provisions of the Partnership agreement (see Note 2).
Basis of Accounting	Basis of Accounting: The Partnership utilizes the accrual method of accounting for transactions relating to the business of the Partnership. The summary of significant accounting policies presented below is designed to assist in understanding the Partnership’s financial statements. Such financial statements and accompanying notes are the representations of the Partnership’s management, who is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects, and have been consistently applied in preparing the accompanying financial statements.
Property and Equipment	Property and Equipment: Property and equipment is stated at cost. Depreciation is computed using the straight-line method over estimated useful lives which are 20 years for land improvements, 35 years for buildings and improvements, and 10 years for machinery and equipment.
	The Partnership accounts for property and equipment in accordance with authoritative guidance issued by the Financial Accounting Standards Board that requires long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. In evaluating long-lived assets held for use, an impairment loss is recognized if the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying value of the asset. Once a determination has been made that an impairment loss should be recognized for long-lived assets, various assumptions and estimates are used to determine fair value including, among others, estimated costs of construction and development, recent sales of comparable properties and the opinions of fair value prepared by independent real estate appraisers. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.
Income Taxes	Income Taxes: No provision has been made for federal or state income taxes on partnership net income, since the Partnership is not subject to income tax. Partnership income is includable in the taxable income of the individual partners as required under applicable income tax laws. Certain items, primarily related to depreciation methods, are accounted for differently for income tax reporting purposes (see Note 6).
Net Income Per Limited Partnership Unit	Net Income Per Limited Partnership Unit: Net income per limited partnership unit is based on net income attributable to the limited partners (after 1% allocation to the general partner) using the weighted average number of units outstanding during the periods presented which amounted to 165,375 units for all years presented.
Use of Estimates	Use of Estimates: The preparation of the financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
Revenue Recognition	Revenue Recognition: Rental revenue is recognized based on 12 percent of gross sales of the restaurants for the corresponding period, and is earned at the point of sale. Supplemental rent is calculated on an annual basis and recorded in the fourth quarter since the amount of supplemental rent, if any, is contingent upon the amount of annual gross sales and pretax profits of the restaurants which are not known until the end of the year. The amount of supplemental rent, if any, is the lesser of (a) the supplemental rental rate of 14.6 percent times the aggregate property costs of $3,011,349, less 12 percent of gross sales of the restaurants, or (b) 50 percent of the aggregate pretax profit, less general and administrative expenses (as defined) and 50 percent of the franchise royalties paid (as defined). To the extent 12 percent of gross sales of the restaurants exceeds the supplemental rent rate the supplemental rent would be zero. There was no supplemental rent in 2014.
Concentration of Risk	Concentration of Risk: The three restaurants leased to Del Taco make up all of the income producing assets of the Partnership and contributed all of the Partnership’s rental revenues for the three years ended December 31, 2014. Therefore, the business of the Partnership is entirely dependent on the success of the Del Taco trade name restaurants that lease the properties.
	The Partnership maintains substantially all of its cash and cash equivalents at one major commercial bank. Although the Partnership at times maintains balances that exceed the federally insured limit, it has not experienced any losses related to these balances and management believes the credit risk to be minimal.
Fair Value of Financial Instruments	Fair Value of Financial Instruments: The fair values of cash, accounts receivables, deposits, accounts payable and payables to limited partners approximate the carrying amounts due to their short maturities.
Subsequent Events	Subsequent Events: Management has evaluated events subsequent to December 31, 2014 through the date the accompanying financial statements were filed with the Securities and Exchange Commission for transactions and other events that may require adjustment of and/or disclosure in such financial statements (see Note 11).

Income_Taxes_Unaudited_Tables

Income Taxes (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Reconciliation of Financial Statement Net Income to Taxable Income	A reconciliation of financial statement net income to taxable income for each of the periods is as follows:
		2014			2013			2012
	Net income per financial statements	$	334,442		$	331,774		$	320,547
	Excess tax depreciation		(3,501	)		(3,501	)		(3,501	)
	Taxable income	$	330,941		$	328,273		$	317,046
Reconciliation of Partnership Equity Per Financial Statements to Partners' Equity for Tax Purposes	A reconciliation of partnership equity per the financial statements to partners’ equity for tax purposes as of December 31, 2014, is as follows (unaudited):
	Partners’ equity per financial statements	$	1,229,081
	Issue costs of limited partnership units capitalized for tax purposes		579,259
	Difference in book vs. tax depreciation		272,609
	Partners’ equity for tax purposes	$	2,080,949

Cash_Distributions_to_Limited_1

Cash Distributions to Limited Partners (Tables)	12 Months Ended
	Dec. 31, 2014
Text Block [Abstract]
Summary of Cash Distributions Paid to Limited Partners	Cash distributions paid to limited partners for the three years ended December 31, 2014 were as follows:
	Quarter Ended	Cash		Weighted		Number of Units
		Distribution per		Average Number		Outstanding at
		Limited Partnership		of Units		the End of
		Unit		Outstanding		Quarter
	December 31, 2011	$	0.48		165,375		165,375
	March 31, 2012		0.48		165,375		165,375
	June 30, 2012		0.56		165,375		165,375
	September 30, 2012		0.54		165,375		165,375
	Total paid in 2012	$	2.06
	December 31, 2012	$	0.6		165,375		165,375
	March 31, 2013		0.47		165,375		165,375
	June 30, 2013		0.54		165,375		165,375
	September 30, 2013		0.58		165,375		165,375
	Total paid in 2013	$	2.19
	December 31, 2013	$	0.58		165,375		165,375
	March 31, 2014		0.55		165,375		165,375
	June 30, 2014		0.59		165,375		165,375
	September 30, 2014		0.57		165,375		165,375
	Total paid in 2014	$	2.29

Results_by_Quarter_Unaudited_T

Results by Quarter (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Summary of Results by Quarter
		First		Second		Third		Fourth
		Quarter		Quarter		Quarter		Quarter
	Year ended December 31, 2014
	Rental revenues	$	109,722	$	115,639	$	118,504	$	119,530
	Net income		63,651		93,639		87,919		89,233
	Net income per limited partnership unit		0.38		0.56		0.53		0.53
	Year ended December 31, 2013
	Rental revenues	$	104,389	$	109,976	$	110,873	$	114,622
	Net income		58,951		87,793		91,793		93,237
	Net income per limited partnership unit		0.35		0.53		0.55		0.56

Organization_and_Summary_of_Si2

Organization and Summary of Significant Accounting Policies - Additional Information (Detail) (USD $)

3 Months Ended

12 Months Ended

Sep. 30, 2014

Jun. 30, 2014

Mar. 31, 2014

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2011

Dec. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Restaurants

CommercialBank

Organization And Significant Accounting Policies [Line Items]

Date of formation

23-Mar-87

Mexican-American restaurants

3

General Partner's interest in profits or losses and distribution of the Partnership

1.00%

Percentage of net income allocated to general partner

1.00%

Weighted average number of units outstanding to general partner

165,375

165,375

165,375

165,375

165,375

165,375

165,375

165,375

165,375

165,375

165,375

165,375

165,375

165,375

165,375

Rental revenue percentage

12.00%

Supplemental rental rate

14.60%

Aggregate cost of property

$3,011,349

Aggregate pretax profit

50.00%

Franchise royalties paid

50.00%

Restaurants leased

3

Commercial bank

1

Land improvements [Member]

Organization And Significant Accounting Policies [Line Items]

Useful life of property plant and equipment

20 years

Buildings and improvements [Member]

Organization And Significant Accounting Policies [Line Items]

Useful life of property plant and equipment

35 years

Machinery and equipment [Member]

Organization And Significant Accounting Policies [Line Items]

Useful life of property plant and equipment

10 years

Partners_Equity_Additional_Inf

Partners' Equity - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Percentage of net income allocated to general partner	1.00%
Percentage of net income attributable limited partners	99.00%
Percentage of gain on sale and refinancing allocated to General Partner	1.00%
Percentage of gain on sale and refinancing allocated to limited partners	99.00%
Percentage of additional gain on sale and refinancing allocated to General Partner	12.00%
Percentage of additional gain on sale and refinancing allocated to limited partners	88.00%

Obligation_to_General_Partner_

Obligation to General Partner - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Schedule Of Performance Fees And Allocations To General Partner [Line Items]
Percentage of gross proceeds of offering	5.00%
General Partner [Member]
Schedule Of Performance Fees And Allocations To General Partner [Line Items]
Percentage of gross proceeds of offering	1.00%
Limited Partners [Member]
Schedule Of Performance Fees And Allocations To General Partner [Line Items]
Percentage of gross proceeds of offering	4.00%
Development fees received	$0	$0	$0

Leasing_Activities_Additional_

Leasing Activities - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	Property	Restaurants	Restaurants
	Restaurants
Operating Leased Assets [Line Items]
Number of lease years	32 years
Percentage of gross sales of restaurants	12.00%
Leases termination period	2021 to 2022
Minimum rentals due to Partnership	$3,500
Number of restaurants leased to Del Taco	3	3	3
Number of properties subleased to Del Taco franchisee	1
Supplemental rent earned	0	0	0
Number of restaurants operated	2
Combined unaudited sales	2,426,746	2,326,201	2,238,685
Combined unaudited net income (loss)	23,370	-7,609	-1,834
Del Taco franchisee [Member]
Operating Leased Assets [Line Items]
Number of restaurants operated	1
Combined unaudited sales	$1,434,879	$1,339,301	$1,300,615

Related_Parties_Additional_Inf

Related Parties - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	Acquisition
Schedule of Other Related Party Transactions [Line Items]
Cash Distributions	($382,601)	($364,982)	($343,650)
Number of other partnerships formed for acquisition	3
General Partner [Member]
Schedule of Other Related Party Transactions [Line Items]
Cash Distributions	($3,826)	($3,650)	($3,436)
General partner, partnership interest percentage	1.00%	1.00%	1.00%

Income_Taxes_Reconciliation_of

Income Taxes - Reconciliation of Financial Statement Net Income to Taxable Income (Detail) (USD $)	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Tax Disclosure [Abstract]
Net income per financial statements	$89,233	$87,919	$93,639	$63,651	$93,237	$91,793	$87,793	$58,951	$334,442	$331,774	$320,547
Excess tax depreciation									-3,501	-3,501	-3,501
Taxable income									$330,941	$328,273	$317,046

Income_Taxes_Reconciliation_of1

Income Taxes - Reconciliation of Partnership Equity Per Financial Statements to Partners' Equity for Tax Purposes (Detail) (USD $)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Tax Disclosure [Abstract]
Partners' equity per financial statements	$1,229,081	$1,277,240	$1,310,448	$1,333,551
Issue costs of limited partnership units capitalized for tax purposes	579,259
Difference in book vs. tax depreciation	272,609
Partners' equity for tax purposes	$2,080,949

Cash_Distributions_to_Limited_2

Cash Distributions to Limited Partners - Summary of Cash Distributions Paid to Limited Partners (Detail) (USD $)	3 Months Ended												12 Months Ended
	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract]
Cash Distribution per Limited Partnership Unit	$0.57	$0.59	$0.55	$0.58	$0.58	$0.54	$0.47	$0.60	$0.54	$0.56	$0.48	$0.48	$2.29	$2.19	$2.06
Weighted Average Number of Units Outstanding	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375
Number of Units Outstanding at the End of the Quarter	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375	165,375

Cash_Distributions_to_Limited_3

Cash Distributions to Limited Partners - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Distributions to the limited partner, declaration date	31-Jan-15
Distributions to the limited partner, per unit amount declared	$0.52
Distribution to the limited partner, distribution date	28-Feb-15

Results_by_Quarter_Unaudited_S

Results by Quarter (Unaudited) - Summary of Results by Quarter (Detail) (USD $)	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract]
RENTAL REVENUES	$119,530	$118,504	$115,639	$109,722	$114,622	$110,873	$109,976	$104,389	$463,395	$439,860	$424,716
Net income	$89,233	$87,919	$93,639	$63,651	$93,237	$91,793	$87,793	$58,951	$334,442	$331,774	$320,547
Net income per limited partnership unit	$0.53	$0.53	$0.56	$0.38	$0.56	$0.55	$0.53	$0.35	$2	$1.99	$1.92

Payable_to_Limited_Partners_Ad

Payable to Limited Partners - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2014
Payables and Accruals [Abstract]
Period of payable outstanding to limited partners	Six months or longer

Schedule_III_Real_Estate_and_A1

Schedule III - Real Estate and Accumulated Depreciation (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$0
Initial cost to company, land & land improvements	1,236,700
Initial cost to company, building & improvements	1,289,860
Cost capitalized subsequent to acquisition carrying costs	0
Gross amount at which carried at close of period land, buildings & improvements Total	2,526,560	2,526,560	2,526,560	2,526,560
Accumulated depreciation	1,281,626	1,244,774	1,207,922	1,171,070
Placentia, CA [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company, land & land improvements	465,933
Initial cost to company, building & improvements	485,961
Cost capitalized subsequent to acquisition carrying costs	0
Gross amount at which carried at close of period land, buildings & improvements Total	951,894
Accumulated depreciation	482,865
Date of construction	1988
Date acquired	1988
Lake Elsinore, CA [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company, land & land improvements	449,058
Initial cost to company, building & improvements	468,361
Cost capitalized subsequent to acquisition carrying costs	0
Gross amount at which carried at close of period land, buildings & improvements Total	917,419
Accumulated depreciation	465,378
Date of construction	1989
Date acquired	1989
San Bernardino, CA [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial cost to company, land & land improvements	321,709
Initial cost to company, building & improvements	335,538
Cost capitalized subsequent to acquisition carrying costs	0
Gross amount at which carried at close of period land, buildings & improvements Total	657,247
Accumulated depreciation	$333,383
Date of construction	1989
Date acquired	1989
Land and land improvements [Member] | Placentia, CA [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	20 years
Land and land improvements [Member] | Lake Elsinore, CA [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	20 years
Land and land improvements [Member] | San Bernardino, CA [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	20 years
Buildings and improvements [Member] | Placentia, CA [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	35 years
Buildings and improvements [Member] | Lake Elsinore, CA [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	35 years
Buildings and improvements [Member] | San Bernardino, CA [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	35 years

Schedule_III_Real_Estate_and_A2

Schedule III - Real Estate and Accumulated Depreciation II (Detail) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate [Abstract]
Restaurants, Beginning Balance	$2,526,560	$2,526,560	$2,526,560
Restaurants, Additions	0	0	0
Restaurants, Retirements	0	0	0
Restaurants, Ending Balance	2,526,560	2,526,560	2,526,560
Accumulated Depreciation, Beginning Balance	1,244,774	1,207,922	1,171,070
Accumulated Depreciation, Additions	36,852	36,852	36,852
Accumulated Depreciation, Retirements	0	0	0
Accumulated Depreciation, Ending Balance	$1,281,626	$1,244,774	$1,207,922

Schedule_III_Real_Estate_and_A3

Schedule III - Real Estate and Accumulated Depreciation - Additional Information (Detail) (USD $)	Dec. 31, 2014
Real Estate [Abstract]
Aggregate cost of real estate assets for Federal tax purposes	$2,526,560