DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)
BALANCE SHEETS(UNAUDITED), SEPTEMBER 30, 2000 AND DECEMBER 31, 1999
<TABLE>
<CAPTION>
September 30, December 31,
2000 1999
<S> <C> <C>
ASSETS
CASH AND CASH EQUIVALENTS $2,629,354 $2,027,853
PROPERTY, Net 6,278,214 6,682,110
OTHER ASSETS 69,305 69,305
TOTAL $8,976,873 $8,779,268
LIABILITIES AND PARTNERS' EQUITY(DEFICIT):
LIABILITIES $2,830,060 $2,688,822
PARTNERS' EQUITY (DEFICIT):
General Partners (80,559) (81,123)
Limited Partners 6,227,372 6,171,569
Total partners' equity 6,146,813 6,090,446
TOTAL $8,976,873 $8,779,268
See accompanying notes to financial statements(unaudited).
</TABLE>
STATEMENTS OF INCOME (UNAUDITED)
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
September 30, September 30,
2000 1999
REVENUES:
Rental Income $835,981 $747,141
Interest 20,669 14,513
Total revenue 856,650 761,654
EXPENSES:
Operating 424,280 383,258
General and administrative 47,619 50,281
Total expenses 471,899 433,539
NET INCOME $384,751 $328,115
AGGREGATE NET INCOME ALLOCATED TO :
Limited partners $380,903 $324,834
General partners 3,848 3,281
TOTAL $384,751 $328,115
NET INCOME PER
LIMITED PARTNERSHIP UNIT $11.98 $10.22
LIMITED PARTNERSHIP
UNITS USED IN PER
UNIT CALCULATION 31,783 31,783
See accompanying notes to financial statements(unaudited).
[/TABLE]
STATEMENTS OF INCOME (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
<TABLE>
<CAPTION>
September 30, September 30,
2000 1999
<S> <C> <C>
REVENUES:
Rental Income $2,308,970 $2,124,254
Interest 56,132 41,558
Total revenues 2,365,102 2,165,812
EXPENSES:
Operating 1,154,715 1,082,599
General and administrative 178,378 171,246
Total expenses 1,333,093 1,253,845
NET INCOME 1,032,009 911,967
AGGREGATE NET INCOME ALLOCATED TO:
Limited partners 1,021,689 902,847
General partners 10,320 9,120
TOTAL 1,032,009 911,967
NET INCOME PER LIMITED
PARTNERSHIP UNIT $32.15 $28.41
LIMITED PARTNERSHIP UNITS
USED IN PER UNIT CALCULATION 31,783 31,783
See accompanying notes to financial statements (unaudited).
</TABLE>
STATEMENTS OF CHANGES IN PARTNERS' EQUITY (DEFICIT)(UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
<TABLE>
<CAPTION>
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
<S> <C> <C> <C>
BALANCE AT JANUARY 1, 1999 ($75,264) $6,751,659 $6,676,395
NET INCOME 9,120 902,847 911,967
DISTRIBUTIONS (9,630) (953,490) (963,120)
BALANCE AT SEPTEMBER 30, 1999 ($75,774) $6,701,016 $6,625,242
BALANCE AT JANUARY 1, 2000 ($81,123) $6,171,569 $6,090,446
NET INCOME 10,320 1,021,689 1,032,009
DISTRIBUTIONS (9,756) (965,886) (975,642)
BALANCE AT SEPTEMBER 30, 2000 ($80,559) $6,227,372 $6,146,813
See accompanying notes to financial statements(unaudited).
</TABLE>
STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
<TABLE>
<CAPTION>
September 30, September 30,
2000 1999
<S> <C> <C>
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income $1,032,009 $ 911,967
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 403,896 403,894
Loss on disposal of
property and equipment 630
Changes in assets and liabilities:
Increase in other assets 0 (2,499)
Increase in liabilities 141,238 176,002
Net cash provided by operating
activities 1,577,143 1,489,994
CASH FLOWS FROM FINANCING ACTIVITIES -
Distributions to partners (975,642) (963,120)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 601,501 526,874
CASH AND CASH EQUIVALENTS:
At beginning of period 2,027,853 1,772,250
At end of period $2,629,354 $ 2,299,124
See accompanying notes to financial statements(unaudited).
</TABLE>
DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
1. GENERAL
DSI Realty Income Fund X (the "Partnership") has three general partners
(DSI Properties, Inc., Robert J. Conway and Joseph W. Conway) and
limited partners owning 31,783 limited partnership units.
The accompanying financial information as of September 30, 2000, and for
the periods ended September 30, 2000 and 1999 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. Two facilities are
located in Warren, Michigan; one facility is located in Troy, Michigan;
one facility is located in Crestwood, Illinois; and one facility is
located in Forestville, Maryland. As of September 30, 2000, the total
cost and accumulated depreciation of the mini-storage facilities is as
follows:
<TABLE>
<S> <C>
Land $ 2,089,882
Buildings 10,834,474
Furniture and Equipment 5,810
Total 12,930,166
Less: Accumulated Depreciation ( 6,651,952)
Property - Net $ 6,278,214
</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.
