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 March 31, 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 2-96364
DSI REALTY INCOME FUND IX, A California Limited Partnership
(Exact name of registrant as specified in its charter)
California_______________________________________33-0103989
(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-(213)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 March 31, 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 March 31, 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 March 31, 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: May 12, 1995 DSI REALTY INCOME FUND IX
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: May 12, 1995 DSI REALTY INCOME FUND IX
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 IX
(A California Real Estate Limited Partnership)
CONSOLIDATED BALANCE SHEETS(UNAUDITED)
MARCH 31, 1995 AND DECEMBER 31, 1994
<TABLE>
<CAPTION>
March 31, December 31,
1995 1994
<S> <C> <C>
ASSETS
CASH AND CASH EQUIVALENTS $ 471,452 $ 421,316
PROPERTY 8,431,117 8,574,285
OTHER ASSETS 66,198 35,454
TOTAL $8,968,767 $9,031,055
LIABILITIES AND PARTNERS' EQUITY
LIABILITIES $ 775,642 $ 712,290
MINORITY INTEREST IN
REAL ESTATE JOINT VENTURE 457,929 468,439
PARTNERS' EQUITY:
General Partners (60,090) (58,938)
Limited Partners 7,795,286 7,909,264
Total partners' equity 7,735,196 7,850,326
TOTAL $8,968,767 $9,031,055
See accompanying notes to consolidated financial statements(unaudited).
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 1995 AND 1994
March 31, March 31,
1995 1994
REVENUES:
Rental Income $ 583,905 $ 552,507
Interest 2,314 725
Total revenues 586,219 553,232
EXPENSES:
Operating Expenses 339,574 323,234
General and administrative 64,408 66,547
Total expenses 403,982 389,781
INCOME BEFORE MINORITY INTEREST
IN INCOME OF REAL ESTATE
JOINT VENTURE 182,237 163,451
MINORITY INTEREST IN INCOME
OF REAL ESTATE JOINT VENTURE 26,090 19,785
NET INCOME $ 156,147 $ 143,666
AGGREGATE NET INCOME ALLOCATED TO:
Limited partners $ 154,586 $ 142,229
General partners 1,561 1,437
TOTAL $ 156,147 $ 143,666
NET INCOME PER LIMITED
PARTNERSHIP UNIT $ 5.04 $ 4.63
LIMITED PARTNERSHIP UNITS
USED IN PER UNIT CALCULATION 30,693 30,693
See accompanying notes to consolidated financial statements(unaudited).
</TABLE>
CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' EQUITY (UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 1995 AND 1994
<TABLE>
<CAPTION>
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
<S> <C> <C> <C>
EQUITY AT DECEMBER 31, 1993 ($ 55,069) $8,292,316 $8,237,247
NET INCOME 1,437 142,229 143,666
DISTRIBUTIONS (2,713) (268,564) 271,277)
EQUITY AT MARCH 31, 1994 ($56,345) $8,165,981 $8,109,636
EQUITY AT DECEMBER 31, 1994 ($58,938) $7,909,264 $7,850,326
NET INCOME 1,561 154,586 156,147
DISTRIBUTIONS (2,713) (268,564 (271,277)
EQUITY AT MARCH 31, 1995 ($60,090) $7,795,286 $7,735,196
See accompanying notes to consolidated financial statements(unaudited).
</TABLE>
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 31, 1995 AND 1994
<TABLE>
<CAPTION>
March 31, March 31,
1995 1994
<S> <C> <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 156,147 $ 143,666
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 146,938 146,938
Distributions paid to
minority interest
in real estate joint
venture in excess of
earnings (10,510) (13,215)
Changes in assets and
liabilities:
Increase in other assets (30,744) (45,543)
Increase in liabilities 63,352 86,464
Net cash provided by
operating activities 325,183 318,310
CASH FLOWS FROM INVESTING ACTIVITIES -
Purchase of property
and equipment (3,770) --
CASH FLOWS FROM FINANCING ACTIVITIES -
Distributions to partners (271,277) (271,277)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 50,136 47,033
CASH AND CASH EQUIVALENTS:
At beginning of period 421,316 332,873
At end of period $ 471,452 $ 379,906
See accompanying notes to consolidated financial statements(unaudited).
</TABLE>
DSI REALTY INCOME FUND IX
(A California Real Estate Limited Partnership)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
1. GENERAL
DSI Realty Income Fund IX (the "Partnership"), a limited partnership, has
three general partners (DSI Properties, Inc., Robert J. Conway and
Joseph W. Conway) and limited partners owning 30,693 limited partnership
units.
The accompanying consolidated financial information as of March 31, 1995
and for the periods ended March 31, 1995, and 1994 is unaudited. Such
financial information includes all adjustments which are 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 Monterey Park
and Azusa, California; Everett, Washington; and Romeoville and Elgin,
Illinois. The Partnership also owns a 70% interest in a mini-storage
facility in Aurora, Colorado. As of March 31, 1995, the total cost and
accumulated depreciation of the mini-storage facilities are as follows:
<TABLE>
<S> <C>
Land $ 2,729,790
Buildings and equipment 10,931,559
Total 13,661,349
Less: Accumulated Depreciation ( 5,230,232)
Property - Net $ 8,431,117
</TABLE>
3. 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.
<TABLE> <S> <C>
<ARTICLE> 5
<S> <C> <C>
<PERIOD-TYPE> 3-MOS YEAR
<FISCAL-YEAR-END> DEC-31-1995 DEC-31-1994
<PERIOD-END> MAR-31-1995 DEC-31-1994
<CASH> 471452 421316
<SECURITIES> 0 0
<RECEIVABLES> 0 0
<ALLOWANCES> 0 0
<INVENTORY> 0 0
<CURRENT-ASSETS> 0 0
<PP&E> 13661349 13657579
<DEPRECIATION> 5230232 5083294
<TOTAL-ASSETS> 8968767 9031055
<CURRENT-LIABILITIES> 0 0
<BONDS> 0 0
<COMMON> 0 0
0 0
0 0
<OTHER-SE> 0 0
<TOTAL-LIABILITY-AND-EQUITY> 8968767 9031055
<SALES> 583905 552507
<TOTAL-REVENUES> 586219 553232
<CGS> 0 0
<TOTAL-COSTS> 0 0
<OTHER-EXPENSES> 0 0
<LOSS-PROVISION> 0 0
<INTEREST-EXPENSE> 0 0
<INCOME-PRETAX> 156147 143666
<INCOME-TAX> 0 0
<INCOME-CONTINUING> 156147 143666
<DISCONTINUED> 0 0
<EXTRAORDINARY> 0 0
<CHANGES> 0 0
<NET-INCOME> 156147 143666
<EPS-PRIMARY> 0 0
<EPS-DILUTED> 0 0
</TABLE>
