REAL ESTATE ASSOCIATES LTD V
10-Q/A, 1998-04-06
REAL ESTATE
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                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                                   FORM 10-Q/A
                                Amendment No. 1

                Quarterly Report Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934

                   For the Quarterly Ended SEPTEMBER 30, 1997

                         Commission File Number 2-77645

                        REAL ESTATE ASSOCIATES LIMITED V
                       (A California Limited Partnership)

                  I.R.S. Employer Identification No. 95-3768810

                         9090 WILSHIRE BLVD., SUITE 201
                           BEVERLY HILLS, CALIF. 90211

                         Registrant's Telephone Number,
                       Including Area Code (310) 278-2191


Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding twelve 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[ ]



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                        REAL ESTATE ASSOCIATES LIMITED V
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                               SEPTEMBER 30, 1997


                                   SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                           REAL ESTATE ASSOCIATES LIMITED V
                           (a California limited partnership)


                           By: National Partnership Investments Corp.,
                               General Partner


                                /s/  Bruce Nelson
                                ------------------------------------------------
                                Bruce Nelson
                                President


                            Date:  November 17, 1997
                                 -----------------------------------------------



                                /s/ Charles H. boxenbaum
                                ------------------------------------------------
                                Charles H. Boxenbaum
                                Chief Executive Officer



                            Date:  November 17, 1997
                                 -----------------------------------------------



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