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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of the Securities and Exchange
Act of 1934
Date of Report (Date of earliest event reported): November 1,
1996
Exact name of registrant as specified in its charter: T. ROWE
PRICE REALTY INCOME FUND I, A NO-LOAD LIMITED PARTNERSHIP
State or other Jurisdiction of Incorporation or Organization:
Maryland
I.R.S. Employer Identification No.:52-1363144
Commission File Number: 0-14308
Address of principal executive offices: 100 East Pratt Street,
Baltimore, Maryland 21202
Registrant's telephone number, including area code: 1-800-638-
5660
Former name of former address, if changes since last report:
Not Applicable
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Item 5. Other Events
At the end of the 1996 fiscal year T. Rowe Price Realty Income
Fund I, A No-Load Limited Partnership (the "Partnership")
conducted its annual formal unit valuation. The valuation of the
Partnership's properties was performed by the General Partner,
and then reviewed by an independent professional appraiser. The
estimated value of limited partnership units resulting from this
process is $420 per unit. A $21.55 per unit distribution for the
September 1996 quarter representing a portion of the sales
proceeds of Dupont Business Park and operating cash flows will be
made on or about November 16, 1996 to limited partners of record
on September 30, 1996. After this distribution, the estimated
value is $398 per unit. There is no assurance that units can be
sold at a price equal to this estimated value, and this valuation
is not necessarily representative of the value of the units when
the Partnership ultimately liquidates its holdings.
T. ROWE PRICE REALTY INCOME FUND I,
A NO-LOAD LIMITED PARTNERSHIP
By: T. Rowe Price Realty Income
Fund I Management, Inc., as
General Partner
By: /s/Lucy B. Robins
Lucy B. Robins
Vice President
