ANGELES PARK COMMUNITIES LTD
10QSB/A, 1995-11-03
LAND SUBDIVIDERS & DEVELOPERS (NO CEMETERIES)
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              FORM 10-QSB/A.--QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934
                        Quarterly or Transitional Report

                   (As last amended by 34-32231, eff. 6/3/93.)

                     U.S. Securities and Exchange Commission
                             Washington, D.C.  20549


                                  Form 10-QSB/A

[X]   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES
      EXCHANGE ACT OF 1934


                For the quarterly period ended September 30, 1995

                                        
[  ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES 
      EXCHANGE ACT OF 1934

                  For the transition period.........to.........

                         Commission file number 0-10199


                         ANGELES PARK COMMUNITIES, LTD.
        (Exact name of small business issuer as specified in its charter)


         California                                           95-3558497
(State or other jurisdiction of                             (IRS Employer
incorporation or organization)                              Identification No.)

One Insignia Financial Plaza, P.O. Box 1089
   Greenville, South Carolina                                   29602
(Address of principal executive offices)                      (Zip Code)


                    Issuer's telephone number (803) 239-1000
                                        


Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.  Yes  X  No    



ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K

         a) Exhibits:  

            Exhibit 27 - Financial Data Schedule, is filed as an exhibit to this
            report.

         b) Reports on From 8-K:  None filed during the quarter ended September
            30, 1995.


                                   SIGNATURES

   In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.



                                 ANGELES PARK COMMUNITIES, LTD. 
   
                                 By:   Angeles Realty Corporation
                                       Managing General Partner



                                 By:   /s/Carroll D. Vinson           
                                       Carroll D. Vinson
                                       President, Director    
                           



                                 By:   /s/Robert D. Long, Jr.           
                                       Robert D. Long, Jr.
                                       Controller and 
                                       Principal Accounting Officer
                           

                           
                                 Date: November 2, 1995



<TABLE> <S> <C>

<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Angeles Park
Communities Ltd. 1995 Third Quarter 10-QSB and is qualified in its entirety by
reference to such 10-QSB.
</LEGEND>
<CIK> 0000317969
<NAME> ANGELES PARK COMMUNITIES LTD
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               SEP-30-1995
<CASH>                                          73,431
<SECURITIES>                                         0
<RECEIVABLES>                                    5,483
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               268,543
<PP&E>                                       5,778,706
<DEPRECIATION>                             (4,142,213)
<TOTAL-ASSETS>                               2,249,158
<CURRENT-LIABILITIES>                          180,847
<BONDS>                                      4,979,907
<COMMON>                                             0
                                0
                                          0
<OTHER-SE>                                 (3,027,550)
<TOTAL-LIABILITY-AND-EQUITY>                 2,249,158
<SALES>                                              0
<TOTAL-REVENUES>                             1,459,096
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               786,388
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                             437,579
<INCOME-PRETAX>                                672,708
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                            672,708
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   672,708
<EPS-PRIMARY>                                    44.13
<EPS-DILUTED>                                        0
        

</TABLE>


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