SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
/_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 Act of 1934
for the transition period from ______________ to ________________.
Commission File Number 2-90168
DSI REALTY INCOME FUND VIII, A California Limited Partnership
(Exact name of registrant as specified in its charter)
California_______________________________________95-0050204
(State or other jurisdiction of (I.R.S. Employer
incorporation) Identification No.)
3701 Long Beach Boulevard, Long Beach, California 90807
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code-(310)595-7711
_________________________________________________________________
Former name, former address and former fiscal year, if changed
since last report.
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 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__.
PART I - FINANCIAL INFORMATION
Item 1. Financial Statements.
The information required by Rule 10-01 of Regulation S-X is
included in the Quarterly Report to the Limited Partners of Registrant for
the period ended September 30, 1995 which is attached hereto as Exhibit "20"
and incorporated herein by this reference.
Item 2. Management's Discussion and Analysis of Financial Condition and
Results of Operations.
Registrant incorporates by this reference its Quarterly Report to
Limited Partners for the period ended September 30, 1995.
PART II - OTHER INFORMATION
Item 6. Exhibits and Reports on Form 8K.
(a) Attached hereto as Exhibit "20" is Registrant's Quarterly
Report to Limited Partners for the period ended September 30, 1995.
(B) Registrant did not file any reports on Form 8-K for the
period reported upon.
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act
of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
Dated: October 31, 1995 DSI REALTY INCOME FUND VIII
A California Limited Partnership
(Registrant)
By____\s\ Robert J. Conway_____
DSI Properties, Inc., as General
Partner by ROBERT J. CONWAY,
President and Chief Financial Officer
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act
of 1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
Dated: October 31, 1995 DSI REALTY INCOME FUND VIII
A California Limited Partnership
(Registrant)
By__\s\ Robert J. Conway________
DSI Properties, Inc., as General
Partner by ROBERT J. CONWAY,
President and Chief Financial Officer
DSI REALTY INCOME FUND VIII
(A California Real Estate Limited Partnership)
BALANCE SHEETS(UNAUDITED)
SEPTEMBER 30, 1995 AND DECEMBER 31, 1994
<TABLE>
<CAPTION>
September 30, December 31,
1995 1994
<S> <C> <C>
ASSETS
CASH AND CASH EQUIVALENTS $ 553,661 $ 424,960
PROPERTY 4,436,188 4,772,863
OTHER ASSETS 424,708 466,245
TOTAL $5,436,239 $5,785,750
LIABILITIES AND PARTNERS' EQUITY
LIABILITIES $ 659,144 $ 615,700
PARTNERS' EQUITY:
General Partners (60,009) (56,080)
Limited Partners 4,837,104 5,226,130
Total partners' equity 4,777,095 5,170,050
TOTAL $5,436,239 $5,785,750
See accompanying notes to financial statements(unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1995 AND 1994
September 30, September 30,
1995 1994
REVENUES:
Rental Income $ 410,758 $ 423,544
Interest 3,917 3,320
Total revenues 414,675 426,864
EXPENSES:
Operating Expenses 268,245 246,919
General and administrative 33,419 37,154
Total expenses 301,664 284,073
INCOME BEFORE EQUITY IN INCOME
OF REAL ESTATE JOINT VENTURE 113,011 142,791
EQUITY IN INCOME OF REAL ESTATE 30,888 25,074
NET INCOME $ 143,899 $ 167,865
AGGREGATE NET INCOME ALLOCATED TO:
Limited partners $ 142,460 $ 166,186
General partners 1,439 1,679
TOTAL $ 143,899 $ 167,865
NET INCOME PER LIMITED
PARTNERSHIP UNIT $ 5.94 $ 6.92
LIMITED PARTNERSHIP UNITS
USED IN PER UNIT CALCULATION 24,000 24,000
See accompanying notes to financial statements(unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30,1995 AND 1994
September 30, September 30,
1995 1994
REVENUES:
Rental Income $1,224,172 $1,231,980
Interest 11,657 6,761
Total Revenues 1,235,829 1,238,741
EXPENSES:
Operating Expenses 760,672 740,645
General and Administrative 135,294 136,673
Total expenses 895,966 877,318
INCOME BEFORE EQUITY IN
INCOME OF REAL ESTATE JOINT VENTURE 339,863 361,423
EQUITY IN INCOME OF
REAL ESTATE JOINT VENTURE 85,363 67,794
Net Income 425,226 429,217
AGGREGATE NET INCOME ALLOCATED TO:
Limited partners $420,974 $424,925
General partners 4,252 4,292
TOTAL $425,226 $429,217
NET INCOME PER LIMITED PARTNERSHIP $ 17.54 $ 17.71
LIMITED PARTNERSHIP UNITS USED IN
PER UNIT CALCULATION 24,000 24,000
See accompanying notes to consolidated financial statements(unaudited)
</TABLE>
STATEMENTS OF CHANGES IN PARTNERS' EQUITY (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1995 AND 1994
<TABLE>
<CAPTION>
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
<S> <C> <C> <C>
EQUITY AT DECEMBER 31, 1993 ($ 51,062) $5,722,901 $5,671,839
NET INCOME 4,292 424,925 429,217
DISTRIBUTIONS (7,576) (750,000) (757,576)
EQUITY AT SEPTEMBER 30,1994 ($54,346) $5,397,826 $5,343,480
EQUITY AT DECEMBER 31, 1994 ($56,080) $5,226,130 $5,170,050
NET INCOME 4,252 420,974 425,226
DISTRIBUTIONS (8,181) (810,000) (818,181)
EQUITY AT SEPTEMBER 30,1995 ($60,009) $4,837,104 $4,777,095
See accompanying notes to consolidated financial statements(unaudited).
</TABLE>
STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1995 AND 1994
<TABLE>
<CAPTION>
September 30, September 30,
1995 1994
1995 1994
<S> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 425,226 $429,217
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 351,850 351,850
Distributions in excess
of earnings in
real estate joint venture 41,537 33,076
Changes in assets and
liabilities:
Decrease in other assets 100,000 0
Increase in liabilities 43,444 76,892
Net cash provided by
operating activities 962,057 891,035
CASH FLOWS FROM INVESTING ACTIVITIES -
Purchase of property
and equipment (15,175) (500)
CASH FLOWS FROM FINANCING ACTIVITIES -
Distributions to partners (818,181) (757,576)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 128,701 132,959
CASH AND CASH EQUIVALENTS:
At beginning of period 424,960 492,869
At end of period $ 553,661 $625,828
See accompanying notes to financial statements(unaudited).
</TABLE>
DSI REALTY INCOME FUND VIII
(A California Real Estate Limited Partnership)
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
1. GENERAL
DSI Realty Income Fund VIII (the "Partnership"), a limited partnership, has
two general partners (DSI Properties, Inc., and Diversified Investors Agency)
and limited partners owning 24,000 limited partnership units. The
Partnership was formed under the California Uniform Limited Partnership
Act for the primary purpose of acquiring and operating real estate.
The accompanying financial information as of September 30, 1995, and for
the periods ended September 30, 1995, and 1994 is unaudited. Such
financial information includes all adjustments considered necessary by the
Partnership's management for a fair presentation of the results for the
periods indicated.
2. PROPERTY
The Partnership owns five mini-storage facilities located in Stockton,
Pittsburg, El Centro, Lompoc and HuntingBeach, California. The total
cost of property and accumulated depreciation at September 30, 1995,
is as follows:
<TABLE>
<S> <C>
Land $ 2,305,310
Buildings and improvements 7,050,725
Equipment 14,067
Total 9,370,102
Less: Accumulated Depreciation ( 4,933,914)
Property - Net $ 4,436,188
</TABLE>
3. INVESTMENT IN REAL ESTATE JOINT VENTURE
The Partnership is involved in a joint venture with DSI Realty Income
Fund IX through which the Partnership has a 30% interest in a mini-storage
facility in Aurora, Colorado. Under the terms of the joint venture
agreement, the Partnership is entitled to 30% of the profits and losses of
venture and owns 30% of the mini-storage facility as a tenant in common
with DSI Realty Income Fund IX, which has the remaining 70% interest in
the venture. Summarized income statement information for the nine months
ended September 30, 1995, and 1994 is as follows:
1995 1994
Revenue $530,834 $471,841
Operating Expenses 246,291 245,860
Net Income $284,543 $225,981
The Partnership accounts for its investment in the real estate joint
venture under the equity method of accounting.
4. NET INCOME PER LIMITED PARTNERSHIP UNIT
Net income per limited partnership unit is calculated by dividing the net
income allocated to the limited partners by the number of limited
partnership units outstanding during the period.
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<S> <C> <C>
<PERIOD-TYPE> 9-MOS YEAR
<FISCAL-YEAR-END> SEP-30-1995 DEC-31-1994
<PERIOD-END> SEP-30-1995 DEC-31-1994
<CASH> 553661 0
<SECURITIES> 0 0
<RECEIVABLES> 0 0
<ALLOWANCES> 0 0
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0 0
0 0
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<TOTAL-LIABILITY-AND-EQUITY> 5436239 0
<SALES> 1224172 0
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<CGS> 0 0
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<LOSS-PROVISION> 0 0
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<INCOME-PRETAX> 425226 0
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<INCOME-CONTINUING> 425226 0
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> 425226 0
<EPS-PRIMARY> 0 0
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</TABLE>
