ANGELES INCOME PROPERTIES LTD 6, 10KSB, 1999-03-30

ANGELES INCOME PROPERTIES LTD 6
10KSB, 1999-03-30
REAL ESTATE

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FORM 10-KSB--ANNUAL OR TRANSITIONAL REPORT UNDER
SECTION 13 OR 15(D)

FORM 10-KSB

[X] ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
1934 [No Fee Required]

For the fiscal year ended December 31, 1998

[ ] TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934 [No Fee Required]

For the transition period from to

Commission file number 0-16210

ANGELES INCOME PROPERTIES, LTD. 6
(Name of small business issuer in its charter)

California 95-4106139
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)

55 Beattie Place, P.O. Box 1089
Greenville, South Carolina 29602
(Address of principal executive offices) (Zip code)

Issuer's telephone number (864) 239-1000

Securities registered under Section 12(b) of the Exchange Act:
None

Securities registered under Section 12(g) of the Exchange Act:

Units of Limited Partnership Interest
(Title of class)

Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 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 [ ].

Check if there is no disclosure of delinquent filers in response to Item 405 of
Regulation S-B contained in this form, and no disclosure will be contained, to
the best of Registrant's knowledge in definitive proxy or information statements
incorporated by reference in Part III of this Form 10-KSB or any amendment to
this Form 10-KSB [X]

State issuer's revenues for its most recent fiscal year. $10,104,000

State the aggregate market value of the voting partnership interests held by
non-affiliates computed by reference to the price at which the partnership
interests were sold, or the average bid and asked prices of such partnership
interests, as of December 31, 1998. No market exists for the limited
partnership interests of the Registrant, and, therefore, no aggregate market
value can be determined.

DOCUMENTS INCORPORATED BY REFERENCE
NONE

PART I

ITEM 1. DESCRIPTION OF BUSINESS

Angeles Income Properties, Ltd. 6 (the "Partnership" or "Registrant") is a
publicly-held limited partnership organized under the California Uniform Limited
Partnership Act pursuant to the Agreement of Limited Partnership dated June 29,
1984, as amended (the "Agreement"). The Partnership Agreement provides that the
Partnership is to terminate on December 31, 2037, unless terminated prior to
such date.

The Partnership's general partner is Angeles Realty Corporation II, a California
corporation (the "General Partner" or "ARC II") and is wholly-owned by Insignia
Properties Trust ("IPT"), which is a subsidiary of Apartment Investment and
Management Company ("AIMCO"). Thus, the General Partner is now a wholly-owned
subsidiary of AIMCO.

The Partnership, through its public offering of Limited Partnership Units, sold
47,384 units aggregating $47,384,000. The General Partner contributed capital
in the amount of $1,000 for a 1% interest in the Partnership. The Partnership
was formed for the purpose of acquiring fee and other forms of equity interests
in various types of real property. At December 31, 1998, the Partnership owned
and operated three residential properties, one mobile home park and two
commercial properties. Subsequent to December 31, 1998, the partnership sold the
mobile home park. Since its initial offering, the Partnership has not received,
nor are limited partners required to make, additional capital contributions.
The General Partner intends to maximize the operating results and, ultimately,
the net realizable value of each of the Partnership's properties in order to
achieve the best possible return for the investors. Such results may best be
achieved by holding and operating the investment properties or through property
sales or exchanges, refinancings, debt restructurings or relinquishment of the
assets. The Partnership intends to evaluate each of its holdings periodically
to determine the most appropriate strategy for each of the assets.

A further description of the Partnership's business is included in Management's
Discussion and Analysis or Plan of Operation included in "Item 6" of this Form
10-KSB.

The Registrant has no employees. Management and administrative services are
provided by the General Partner and by agents retained by the General Partner.
These services were provided by affiliates of the Managing General Partner for
the years ended December 31, 1998 and 1997. As of October 1, 1998, these
services for the commercial properties was provided by an unrelated party.

The real estate business in which the Partnership is engaged is highly
competitive. There are other residential and commercial properties within the
market area of the Partnership's properties. The number and quality of
competitive properties, including those which may be managed by an affiliate of
the General Partner in such market area, could have a material effect on the
rental market for the apartments and commercial space at the Partnership's
properties and the rents that may be charged for such apartments and commercial
space properties. While the General Partner and its affiliates are a
significant factor in the United States in the apartment industry, competition
for the apartments is local. In addition, various limited partnerships have
been formed by the General Partner and/or affiliates to engage in business which
may be competitive with the Registrant. The General Partner is not a
significant factor in commercial real estate.

There have been, and it is possible there may be other, Federal, state and local
legislation and regulations enacted relating to the protection of the
environment. The Partnership is unable to predict the extent, if any, to which
such new legislation or regulations might occur and the degree to which such
existing or new legislation or regulations might adversely affect the properties
owned by the Partnership.

The Partnership monitors its properties for evidence of pollutants, toxins and
other dangerous substances, including the presence of asbestos. In certain
cases environmental testing has been performed, which resulted in no material
adverse conditions or liabilities. In no case has the Partnership received
notice that it is a potentially responsible party with respect to an
environmental clean up site.

Both the income and expenses of operating the remaining properties owned by the
Partnership are subject to factors outside of the Partnership's control, such as
an oversupply of similar properties resulting from overbuilding, increases in
unemployment or population shifts, reduced availability of permanent mortgage
financing, changes in zoning laws, or changes in patterns or needs of users. In
addition, there are risks inherent in owning and operating residential
properties because such properties are susceptible to the impact of economic and
other conditions outside of the control of the Partnership.

Transfer of Control

Pursuant to a series of transactions which closed on October 1, 1998 and
February 26, 1999, Insignia Financial Group, Inc. and Insignia Properties Trust
merged into Apartment Investment and Management Company, a publicly traded real
estate investment trust, with AIMCO being the surviving corporation (the
"Insignia Merger"). As a result, AIMCO ultimately acquired a 100% ownership
interest in Insignia Properties Trust ("IPT"), the entity which controls the
General Partner. The General Partner does not believe that this transaction
will have a material effect on the affairs and operations of the Partnership.

ITEM 2. DESCRIPTION OF PROPERTIES:

The following table sets forth the Partnership's investments in properties:

Date of
Property Purchase Type of Ownership Use

Lazy Hollow Apartments 07/01/89 Fee ownership, subject to Apartment
Columbia, MD a first mortgage 178 units

Homestead Apartments 11/10/88 Fee ownership, subject to Apartment
East Lansing, MI a first mortgage 168 units

Casa Granada Apartments 04/30/89 Fee ownership, subject to Apartment
Harlingen, TX a first mortgage (1) 108 units

Mesa Dunes 04/01/95 Fee ownership, subject to Mobile Home
Mobile Home Park first and second mortgages (3) 451 pads
Mesa, AZ

Wakonda Shopping Center 04/01/95 Fee ownership, subject to Commercial
Des Moines, IA first mortgage (2) 147,000 sq. ft.

Town & Country 04/01/95 Fee ownership, subject to Commercial
Shopping Center first mortgage (2) 104,000 sq.
Cedar Rapids, IA ft.(4)

(1) Property is held by a Limited Partnership which the Registrant owns a 99%
interest in.

(2) Property is held by a Limited Partnership which the Registrant owns a 100%
interest in.

(3) Property was sold subsequent to year end. See "Note K" for further
information regarding this transaction.

(4) During May 1997, a tenant occupying 18,600 square feet moved out as its
lease had expired. The tenant was a bowling center and occupied the
basement level of the property. Due to the estimated high cost of
improving this space and its basement location, the space is considered
non-leasable space and is not included in the square footage above.

SCHEDULE OF PROPERTIES:

Set forth below for each of the Registrant's properties is the gross carrying
value, accumulated depreciated, depreciable life, method of depreciation and
Federal tax basis.

Gross

Carrying Accumulated Federal

Property Value Depreciation Rate Method Tax Basis

(in thousands) (in thousands)

Lazy Hollow Apartments $ 6,707 $ 2,538 5-40 yrs S/L $ 8,183

Homestead Apartments 5,572 1,908 5-40 yrs S/L 5,148

Casa Granada Apartments 2,667 694 5-40 yrs S/L 2,129

Mesa Dunes Mobile

Home Park 8,968 1,428 5-40 yrs S/L 7,177

Wakonda Shopping Center 3,553 1,009 5-40 yrs S/L 4,647

Town & Country

Shopping Center 4,454 985 5-40 yrs S/L 3,550

$31,921 $ 8,562 $30,834

See "Note A" of the consolidated financial statements included in "Item 7.
Financial Statements" for a description of the Partnership's depreciation
policy.

SCHEDULE OF PROPERTY INDEBTEDNESS:

The following table sets forth certain information relating to the loans
encumbering the Registrant's properties.

Principal Principal

Balance At Stated Balance

December 31, Interest Period Maturity Due At

Property 1998 Rate Amortized Date Maturity (3)

(in thousands) (in thousands)

Lazy Hollow Apartments

1st trust deed $ 4,004 7.50% 30 yrs 07/2019 $ --

Homestead Apartments

1st trust deed 3,134 7.33% 30 yrs 11/2003 2,935

Casa Granada Apartments

1st trust deed 1,288 10.07% 30 yrs 09/1999 1,280

Mesa Dunes Mobile

Home Park

1st trust deed 6,234 7.83% 28.67 yrs 10/2003 5,699

2nd trust deed 205 7.83% (1) 10/2003 205

Wakonda Shopping Center/

Town & Country Shopping

Center

1st trust deed (2) 3,350 9.0% 30 yrs 12/2003 3,125

18,215

Less unamortized

discount (80) $ 13,244

Total $ 18,135

(1) Interest only payments.
(2) Payable to Angeles Mortgage Investment Trust ("AMIT") (See "Note E" in
"Item 7").
(3) See "Item 7. Financial Statements - Note C" for information with respect to
the Registrant's ability to prepay these loans and other specific details
about the loans.

RENTAL RATES AND OCCUPANCY:

Average annual rental rate and occupancy for 1998 and 1997 for each property.

Average Annual Average

Rental Rates Occupancy

Property 1998 1997 1998 1997

Lazy Hollow Apartments (1) $9,391/unit $9,140/unit 97% 93%

Homestead Apartments (2) 7,657/unit 7,379/unit 89% 94%

Casa Granada Apartments 5,595/unit 5,564/unit 94% 93%

Mesa Dunes Mobile Home Park 2,942/unit 2,845/unit 89% 89%

Wakonda Shopping Center 5.04/s.f. 5.82/s.f. 85% 84%

Town & Country Shopping Center (3) 6.80/s.f. 6.72/s.f. 89% 85%

(1) The increase in occupancy at Lazy Hollow Apartments is due to increased
marketing efforts.

(2) Occupancy at Homestead Apartments has decreased due to increased
competition in the local market.

(3) The increase in average occupancy at Town & Country Shopping Center is due
to the move-out of two large tenants occupying a combined total of
approximately 32,000 square feet. As discussed above in "Description of
Properties", the vacancy created in the basement space of the center is now
considered non-leasable space. The 1997 occupancy rate above is based on
that space being excluded as of May 1997 when the tenant vacated.

As noted under "Item 1. Description of Business", the real estate industry is
highly competitive. All of the properties are subject to competition from other
residential apartment complexes and commercial buildings in the area. The
General Partner believes that all of the properties are adequately insured. The
multi-family residential properties' lease terms are for one year or less. No
residential tenant leases 10% or more of the available rental space. All of the
properties are in good physical condition subject to normal depreciation and
deterioration as is typical for assets of this type and age.

The following is a schedule of the commercial lease expirations for the years
1999-2008:

Number of % of Gross

Town & Country Shopping Center Expirations Square Feet Annual Rent Annual Rent

1999 (1) 8 22,869 $131 15%

2000 7 21,566 150 17%

2001 10 37,181 217 24%

2002 3 3,701 -- 6%

2003 4 16,260 157 17%

2004 - -- -- --

2005 1 1,517 14 2%

2006-2008 - -- -- --

(1) The General Partner anticipates re-negotiating these leases with the
current tenants.

Number of % of Gross

Wakonda Shopping Center Expirations Square Feet Annual Rent Annual Rent

1999 (1) 9 22,783 $153 27%

2000 4 5,867 44 8%

2001 5 13,963 103 18%

2002 3 61,523 119 21%

2003 -- -- -- --

2004 1 6,210 34 6%

2005 1 3,500 37 6%

2006-2007 -- -- -- --

2008 -- 4,300 33 5%

(1) The General Partner anticipates re-negotiating these leases with the
current tenants.

The following schedule reflects information on tenants occupying 10% or more of
the leasable square feet for each commercial property:

Square Footage Annual Rent Lease

Property Nature of Business Leased Per Square Ft Expiration

Town and Country

Shopping Center Variety Discount 14,112 $ 6.52 01/31/01

Wakonda

Shopping

Center Grocery 47,382 $ .78 01/31/02

REAL ESTATE TAXES AND RATES:

Real estate taxes and rates in 1998 for each property were:

1998 1998

Billing Rate

(in thousands)

Lazy Hollow Apartments (1) $ 133 3.42%

Homestead Apartments 138 5.39%

Casa Granada Apartments 36 2.38%

Mesa Dunes Mobile Home Park 27 1.13%

Wakonda Shopping Center (1) 238 4.03%

Town & Country Shopping Center (1) 100 3.02%

(1) Tax bill is for the fiscal year of the taxing authority which differs from
that of the Partnership.

CAPITAL IMPROVEMENTS:

Town and Country Shopping Center

During the year ended December 31, 1998, the Partnership completed approximately
$311,000 of capital improvements at Town and Country Shopping Center primarily
consisting of tenant improvements. These improvements were funded from cash
flow from operations. Based on a report received from an independent third
party consultant analyzing necessary exterior improvements and estimates made by
the Managing General Partner on interior improvements, it is estimated that the
property requires approximately $1,308,000 of capital improvements over the near
term. Capital improvements scheduled for 1999 include, but are not limited to,
tenant improvements. These improvements are expected to cost approximately
$1,308.000.

Wakonda Shopping Center

During the year ended December 31, 1998, the Partnership completed approximately
$113,000 of capital improvements at Wakonda Shopping Center consisting of tenant
improvements and HVAC units. These improvements were funded from cash flow from
operations. Based on a report received from an independent third party
consultant analyzing necessary exterior improvements and estimates made by the
Managing General Partner on interior improvements, it is estimated that the
property requires approximately $326,000 of capital improvements over the near
term. Capital improvements scheduled for 1999 include, but are not limited to,
tenant improvements and building improvements. These improvements are expected
to cost approximately $38,000.

Mesa Dunes Mobile Home Park

During the year ended December 31, 1998, the Partnership completed approximately
$8,000 of capital improvements at Mesa Dunes Mobile Home Park primarily
consisting of a golf cart purchase and building improvements. These
improvements were funded from cash flow from operations. This property was sold
subsequent to year end on February 22, 1999.

Homestead Apartments

During the year ended December 31, 1998, the Partnership completed approximately
$62,000 of capital improvements at Homestead Apartments consisting of flooring
and building improvements. These improvements were funded from cash flow from
operations. Based on a report received from an independent third party
consultant analyzing necessary exterior improvements and estimates made by the
Managing General Partner on interior improvements, it is estimated that the
property requires approximately $183,000 of capital improvements over the near
term. Capital improvements scheduled for 1999 include, but are not limited to,
tenant improvements and building improvements. These improvements are expected
to be paid from replacement reserves and operating cash flow. These
improvements are expected to cost approximately $183,000.

Casa Granada Apartments

During the year ended December 31, 1998, the Partnership completed approximately
$60,000 of capital improvements at Casa Granada Apartments primarily consisting
of parking lot repairs and appliances. These improvements were funded from cash
flow from operations. Based on a report received from an independent third party
consultant analyzing necessary exterior improvements and estimates made by the
Managing General Partner on interior improvements, it is estimated that the
property requires approximately $429,000 of capital improvements over the near
term. Capital improvements scheduled for 1999 include, but are not limited to,
interior and exterior building improvements. These improvements are expected to
cost approximately $429,000.

Lazy Hollow Apartments

During the year ended December 31, 1998, the Partnership completed approximately
$190,000 of capital improvements at Lazy Hollow Apartments consisting of
cabinetry, building improvements and flooring. These improvements were funded
from cash flow from operations. Based on a report received from an independent
third party consultant analyzing necessary exterior improvements and estimates
made by the Managing General Partner on interior improvements, it is estimated
that the property requires approximately $444,000 of capital improvements over
the near term. Capital improvements scheduled for 1999 include, but are not
limited to, interior and exterior building improvements. These improvements are
expected to be cost approximately $586,000.

The capital improvements planned for 1999 at the Partnership's properties will
be made only to the extent of cash available from operations and Partnership
reserves.

ITEM 3. LEGAL PROCEEDINGS

In March 1998, several putative unit holders of limited partnership units of the
Partnership commenced an action entitled Rosalie Nuanes, et al. v. Insignia
Financial Group, Inc., et al. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs named as defendants, among others,
the Partnership, the General Partner and several of their affiliated
partnerships and corporate entities. The complaint purports to assert claims on
behalf of a class of limited partners and derivatively on behalf of a number of
limited partnerships (including the Partnership) which are named as nominal
defendants, challenging the acquisition by Insignia and entities which were, at
the time, affiliates of Insignia ("Insignia Affiliates") of interests in certain
general partner entities, past tender offers by Insignia Affiliates as well as a
recently announced agreement between Insignia and AIMCO. The complaint seeks
monetary damages and equitable relief, including judicial dissolution of the
Partnership. On June 25, 1998, the General Partner filed a motion seeking
dismissal of the action. In lieu of responding to the motion, the plaintiffs
have filed an amended complaint. The General Partner has filed demurrers to the
amended complaint which were heard during February 1999. No ruling on such
demurrers has been received. The General Partner does not anticipate that costs
associated with this case, if any, to be material to the Partnership's overall
operations.

The Partnership is unaware of any other pending or outstanding litigation that
is not of a routine nature arising in the ordinary course of business.

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

During the quarter ended December 31, 1998, no matter was submitted to a vote
of unit holders through the solicitation of proxies or otherwise.

PART II

ITEM 5. MARKET FOR THE PARTNERSHIP'S COMMON EQUITY AND RELATED SECURITY HOLDER
MATTERS

The Partnership, a publicly-held limited partnership, sold 47,384 Limited
Partnership Units during its offering period through September 30, 1988, and as
of December 31, 1998, had 47,311 Limited Partnership Units outstanding held by
3,733 Limited Partners of record. Affiliates of the General Partner owned 5,638
units or 11.7% at December 31, 1998. During 1998, the number of Limited
Partnership Units, decreased by 3 due to limited partners abandoning their
units. In abandoning his or her Limited Partnership Units, a Limited Partner
relinquishes all right, title and interest in the Partnership as of the date of
abandonment. No public trading market has developed for the units, and it is
not anticipated that such a market will develop in the future.

No distributions were made during the years ended December 31, 1998 or 1997.
Future distributions will be dependent on the levels of net cash generated from
operations, refinancings, property sales, and the availability of cash reserves.
The Partnership's distribution policy will be reviewed on a quarterly basis.
There can be no assurance, however, that the Partnership will generate
sufficient funds from operations after required capital expenditures to permit
any additional distributions to its partners in 1999 or subsequent periods.

ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

The matters discussed in this Form 10-KSB contain certain forward-looking
statements and involve risks and uncertainties (including changing market
conditions, competitive and regulatory matters, etc.) detailed in the disclosure
contained in this Form 10-KSB and the other filings with the Securities and
Exchange Commission made by the Registrant from time to time. The discussion of
the Registrant's business and results of operations, including forward-looking
statements pertaining to such matters, does not take into account the effects of
any changes to the Registrant's business and results of operation. Accordingly,
actual results could differ materially from those projected in the forward-
looking statements as a result of a number of factors, including those
identified herein.

This item should be read in conjunction with the consolidated financial
statements and other items contained elsewhere in this report.

RESULTS OF OPERATIONS

The Partnership realized net income of approximately $3,131,000 versus net
income of approximately $815,000 for the years ended December 31, 1998 and 1997,
respectively. The increase in net income is due primarily to the gain of
approximately $2,995,000 realized on the sale of Whispering Pines Mobile Home
Park during the third quarter of 1998, as compared to a gain of approximately
$692,000 on the sale of La Salle Warehouse in October, 1997. See "Note D" of
the financial statements in "Item 7." for a discussion of these property sales.
As a result of these property sales, during the year ended December 31, 1998 the
Partnership realized decreases in rental and other income in addition to
operating expenses, depreciation, interest expenses, and property taxes.
Excluding the gain on disposition of property and the extraordinary loss
relating to the property sales in both years, the Partnership realized net
income of approximately $365,000 and $144,000 for the years ended December 31,
1998 and 1997, respectively. Rental income at each property increased due to
rental rate increases at all of the Partnership's remaining investment
properties and the improved occupancy at Lazy Hollow. This increase was offset
by decreased rental revenues due to the sale of Whispering Pines. Partially
offsetting the increase in net income at the Partnership's remaining properties
was an increase in management fees included in general and administrative
expenses. The increase is due to the accrual of a Partnership management fee of
$104,000 in December 1998. The fee was accrued for executive and management
services and was equal to 10% of "net cash available for distributions" pursuant
to the Partnership Agreement. Maintenance expense decreased as a result of the
interior and exterior improvements made during the year ended December 31, 1997.

Included in general and administrative expenses at both December 31, 1998 and
1997 are management reimbursements to the General Partner allowed under the
Partnership Agreement. In addition, costs associated with the quarterly and
annual communications with investors and regulatory agencies and the annual
audit required by the Partnership Agreement are also included.

As part of the ongoing business plan of the Partnership, the General Partner
monitors the rental market environment of each of its investment properties to
assess the feasibility of increasing rents, maintaining or increasing occupancy
levels and protecting the Partnership from increases in expenses. As part of
this plan, the General Partner attempts to protect the Partnership from the
burden of inflation-related increases in expenses by increasing rents and
maintaining a high overall occupancy level. However, due to changing market
conditions, which can result in the use of rental concessions and rental
reductions to offset softening market conditions, there is no guarantee that the
General Partner will be able to sustain such a plan.

LIQUIDITY AND CAPITAL RESOURCES

At December 31, 1998, the Partnership held cash and cash equivalents of
approximately $4,918,000 versus approximately $1,941,000 at December 31, 1997.
The increase in cash and cash equivalents is due to approximately $2,099,000 of
cash provided by operating activities and approximately $6,196,000 of cash
provided by investing activities, which was partially offset by approximately
$5,318,000 of cash used in financing activities. Cash provided by investing
activities consisted of the proceeds from the sale of Whispering Pines in the
third quarter of 1998 which was partially offset by property improvements and
replacements and by deposits to restricted escrows maintained by the mortgage
lenders. Cash used in financing activities consisted primarily of repayments of
the mortgage encumbering Whispering Pines. The Registrant invests its working
capital reserves in a money market accounts.

On July 16, 1998, the Partnership sold Whispering Pines Mobile Home Park to an
unaffiliated third party for net sales proceeds of approximately $1,935,000
after payoff of the first and second mortgages and payment of closing costs.
The Partnership realized a gain of approximately $2,995,000 on the sale during
the third quarter of 1998. The Partnership also realized a loss on the early
extinguishment of debt encumbering Whispering Pines Mobile Home Park of
approximately $229,000 during the third quarter of 1998 consisting of the write
off of unamortized loan costs and mortgage discount. The General Partner is
currently evaluating the feasibility of a distribution of the sale proceeds.

During the first quarter of 1997, the mortgage debt secured by LaSalle Warehouse
was restructured (See "Note C" in "Item 7."). In October 1997, the Partnership
sold LaSalle Warehouse and the net proceeds from the sale were applied to the
outstanding debt to AMIT. In addition, as part of the restructure, the
Partnership allowed AMIT to place a second mortgage on the Wakonda Shopping
Center and the Town & Country Shopping Center.

The sufficiency of existing liquid assets to meet future liquidity and capital
expenditure requirements is directly related to the level of capital
expenditures required at the properties to adequately maintain the physical
assets and other operating needs of the Registrant and to comply with federal,
state, and local legal and regulatory requirements. The Registrant has budgeted
approximately $2,544,000 in capital improvements for all of the Registrant's
properties in 1999. Budgeted capital improvements include, but are not limited
to, tenant improvements interior and exterior building improvements, parking lot
repairs, plumbing upgrades, major landscaping, roof replacement, major building
repairs and improvements to its recreational facility. The capital expenditures
will be incurred only if cash is available from operations or from partnership
reserves. To the extent that such budgeted capital improvements are completed,
the Registrant's distributable cash flow, if any, may be adversely affected at
least in the short term.

The Registrant's current assets are thought to be sufficient for any near-term
needs (exclusive of capital improvements) of the Registrant. The mortgage
indebtedness of approximately $18,135,000 net of discount, has maturity dates
ranging from September 1999 to July 2019. The General Partner will attempt to
refinance such indebtedness or sell the properties prior to such maturity date.
If the property cannot be refinanced or sold for a sufficient amount, the
Registrant will risk losing such property through foreclosure.

No cash distributions were made during the years ended December 31, 1998 or
1997. The Registrant's distribution policy is reviewed on a quarterly basis.
There can be no assurance, however, that the Registrant will generate sufficient
funds from operations to permit further distributions to its partners in 1999 or
subsequent periods.

The following pro-forma information reflects the operations of the Partnership
for the years ended December 31, 1998 and 1997, as if Whispering Pines Mobile
Home Park, LaSalle Warehouse, and Mesa Dunes had been sold January 1, 1997.

1998 1997

(in thousands, except per unit data)

Revenues $ 5,201 $ 5,216

Net income 231 312

Income per limited partnership unit 4.88 6.59

Year 2000 Compliance

General Description of the Year 2000 Issue and the Nature and Effects of the
Year 2000 on Information Technology (IT) and Non-IT Systems

The Year 2000 issue is the result of computer programs being written using two
digits rather than four digits to define the applicable year. The Partnership
is dependent upon the General Partner and its affiliates for management and
administrative services ("Managing Agent"). Any of the computer programs or
hardware that have date-sensitive software or embedded chips may recognize a
date using "00" as the year 1900 rather than the year 2000. This could result
in a system failure or miscalculations causing disruptions of operations,
including, among other things, a temporary inability to process transactions,
send invoices, or engage in similar normal business activities.

Over the past two years, the Managing Agent has determined that it will be
required to modify or replace significant portions of its software and certain
hardware so that those systems will properly utilize dates beyond December 31,
1999. The Managing Agent presently believes that with modifications or
replacements of existing software and certain hardware, the Year 2000 issue can
be mitigated. However, if such modifications and replacements are not made or
not completed in time, the Year 2000 issue could have a material impact on the
operations of the Partnership.

The Managing Agent's plan to resolve Year 2000 issues involves four Phases:
assessment, remediation, testing, and implementation. To date, the Managing
Agent has fully completed its assessment of all the information systems that
could be significantly affected by the Year 2000, and has begun the remediation,
testing and implementation phases on both hardware and software systems.
Assessments are continuing in regards to embedded systems. The status of each
is detailed below.

Status of Progress in Becoming Year 2000 Compliant, Including Timetable for
Completion of Each Remaining Phase

Computer Hardware:

During 1997 and 1998, the Managing Agent identified all of the computer systems
at risk and formulated a plan to repair or replace each of the affected systems.
In August 1998, the mainframe system used by the Managing Agent became fully
functional. In addition to the mainframe, PC-based network servers and routers
and desktop PCs were analyzed for compliance. The Managing Agent has begun to
replace each of the non-compliant network connections and desktop PCs and, as of
December 31, 1998, had completed approximately 75% of this effort.

The total cost to the Managing Agent to replace the PC-based network servers,
routers and desktop PCs is expected to be approximately $1.5 million of which
$1.3 million has been incurred to date. The remaining network connections and
desktop PCs are expected to be upgraded to Year 2000 compliant systems by March
31, 1999.

Computer software:

The Managing Agent utilizes a combination of off-the-shelf, commercially
available software programs as well as custom-written programs that are designed
to fit specific needs. Both of these types of programs were studied, and
implementation plans written and executed with the intent of repairing or
replacing any non-compliant software programs.

During 1998, the Managing Agent began converting the existing property
management and rent collection systems to its management properties Year 2000
compliant systems. The estimated additional costs to convert such systems at
all properties, is $200,000, and the implementation and the testing process is
expected to be completed by March 31, 1999.

The final software area is the office software and server operating systems.
The Managing Agent has upgraded all non-compliant office software systems on
each PC and has upgraded 80% of the server operating systems. The remaining
server operating systems are planned to be upgraded to be Year 2000 compliant by
March 31, 1999.

Operating Equipment:

The Managing Agent has operating equipment, primarily at the property sites,
which needed to be evaluated for Year 2000 compliance. In September 1997, the
Managing Agent began taking a census and inventory of embedded systems
(including those devices that use time to control systems and machines at
specific properties, for example elevators, heating, ventilating, and air
conditioning systems, security and alarm systems, etc.).

The Managing Agent has chosen to focus its attention mainly upon security
systems, elevators, heating, ventilating and air conditioning systems, telephone
systems and switches, and sprinkler systems. While this area is the most
difficult to fully research adequately, management has not yet found any major
non-compliance issues that put the Managing Agent at risk financially or
operationally. The Managing Agent intends to have a third-party conduct an
audit of these systems and report their findings by March 31, 1999.

Any of the above operating equipment that has been found to be non-compliant to
date has been replaced or repaired. To date, these have consisted only of
security systems and phone systems. As of December 31, 1998 the Managing Agent
has evaluated approximately 86% of the operating equipment for the Year 2000
compliance.

The total cost incurred for all properties managed by the Managing Agent as of
December 31, 1998 to replace or repair the operating equipment was approximately
$400,000. The Managing Agent estimates the cost to replace or repair any
remaining operating equipment is approximately $325,000, which is expected to be
completed by April 30, 1999.

The Managing Agent continues to have "awareness campaigns" throughout the
organization designed to raise awareness and report any possible compliance
issues regarding operating equipment within our enterprise.

Nature and Level of Importance of Third Parties and Their Exposure to the Year
2000

The Managing Agent continues to conduct surveys of its banking and other vendor
relationships to assess risks regarding their Year 2000 readiness. The Managing
Agent has banking relationships with three major financial institutions, all of
which have indicated their compliance efforts will be complete before May 1999.
The Managing Agent has updated data transmission standards with two of the three
financial institutions. The Managing Agent's contingency plan in this regard is
to move accounts from any institution that cannot be certified Year 2000
compliant by June 1, 1999.

The Partnership does not rely heavily on any single vendor for goods and
services, and does not have significant suppliers and subcontractors who share
information systems (external agent). To date the Partnership is not aware of
any external agent with a Year 2000 compliance issue that would materially
impact the Partnership's results of operations, liquidity, or capital resources.
However, the Partnership has no means of ensuring that external agents will be
Year 2000 compliant.

The Managing Agent does not believe that the inability of external agents to
complete their Year 2000 remediation process in a timely manner will have a
material impact on the financial position or results of operations of the
Partnership. However, the effect of non-compliance by external agents is not
readily determinable.

Costs to Address Year 2000

The total cost of the Year 2000 project to the Managing Agent is estimated at
$3.5 million and is being funded from operating cash flows. To date, the
Managing Agent has incurred approximately $2.8 million ($0.6 million expensed
and $2.2 million capitalized for new systems and equipment) related to all
phases of the Year 2000 project. Of the total remaining project costs,
approximately $0.5 million is attributable to the purchase of new software and
operating equipment, which will be capitalized. The remaining $0.2 million
relates to repair of hardware and software and will be expensed as incurred.
The Partnership's portion of these costs are not material.

Risks Associated with the Year 2000

The Managing Agent believes it has an effective program in place to resolve the
Year 2000 issue in a timely manner. As noted above, the Managing Agent has not
yet completed all necessary phases of the Year 2000 program. In the event that
the Managing Agent does not complete any additional phases, certain worst case
scenarios could occur. The worst case scenarios could include elevators,
security and heating, ventilating and air conditioning systems that read
incorrect dates and operate with incorrect schedules (e.g., elevators will
operate on Monday as if it were Sunday). Although such a change would be
annoying to residents, it is not business critical.

In addition, disruptions in the economy generally resulting from Year 2000
issues could also adversely affect the Partnership. The Partnership could be
subject to litigation for, among other things, computer system failures,
equipment shutdowns or failure to properly date business records. The amount of
potential liability and lost revenue cannot be reasonably estimated at this
time.

Contingency Plans Associated with the Year 2000

The Managing Agent has contingency plans for certain critical applications and
is working on such plans for others. These contingency plans involve, among
other actions, manual workarounds and selecting new relationships for such
activities as banking relationships and elevator operating systems.

ITEM 7. FINANCIAL STATEMENTS

ANGELES INCOME PROPERTIES, LTD. 6

LIST OF FINANCIAL STATEMENTS

Report of Ernst & Young, LLP, Independent Auditors

Consolidated Balance Sheet - December 31, 1998

Consolidated Statements of Operations - Years ended December 31,
1998 and 1997

Consolidated Statements of Changes in Partners' Capital (Deficit) - Years
ended December 31, 1998 and 1997

Consolidated Statements of Cash Flows - Years ended December 31, 1998 and
1997

Notes to Consolidated Financial Statements

Report of Ernst & Young LLP, Independent Auditors

The Partners
Angeles Income Properties, Ltd. 6

We have audited the accompanying consolidated balance sheet of Angeles Income
Properties, Ltd. 6 as of December 31, 1998, and the related consolidated
statements of operations, changes in partners' capital (deficit) and cash flows
for each of the two years in the period ended December 31, 1998. These
financial statements are the responsibility of the Partnership's management. Our
responsibility is to express an opinion on these financial statements based on
our audits.

We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material
misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes
assessing the accounting principles used and significant estimates made by the
Partnership's management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our
opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the consolidated financial position of Angeles Income
Properties, Ltd. 6 at December 31, 1998, and the consolidated results of its
operations and its cash flows for each of the two years in the period ended
December 31, 1998, in conformity with generally accepted accounting principles.

/s/ ERNST & YOUNG LLP

Greenville, South Carolina
March 3, 1999

ANGELES INCOME PROPERTIES, LTD. 6
CONSOLIDATED BALANCE SHEET
(in thousands except unit data)

December 31, 1998

Assets

Cash and cash equivalents $ 4,918

Receivables and deposits 623

Restricted escrows 303

Other assets 620

Investment properties (Notes C and G):

Land $ 4,748

Buildings and related personal property 27,173

31,921

Less accumulated depreciation (8,562) 23,359

$ 29,823

Liabilities and Partners' Capital

Liabilities

Accounts payable $ 95

Tenant security deposit liabilities 97

Accrued property taxes 377

Other liabilities 708

Disposition payable to General Partner 212

(Note F)

Mortgage notes payable (Note C) 18,135

Partners' Capital

General partner $ 102

Limited partners (47,311 units issued

and outstanding) 10,097 10,199

$ 29,823

See Accompanying Notes to Consolidated Financial Statements

ANGELES INCOME PROPERTIES, LTD. 6
CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except unit data)

Years Ended December 31,

1998 1997

Revenues:

Rental income $ 6,709 $ 7,293

Other income 400 427

Gain on disposition of property (Note D) 2,995 692

Total revenues 10,104 8,412

Expenses:

Operating 2,697 3,040

General and administrative 567 412

Depreciation 999 1,031

Interest 1,778 2,300

Property taxes 703 793

Total expenses 6,744 7,576

Income before extraordinary item 3,360 836

Extraordinary loss on early extinguishment

of debt (Note D) (229) (21)

Net income $ 3,131 $ 815

Net income allocated to general partner $ 646 $ 8

Net income allocated to limited partners 2,485 807

$ 3,131 $ 815

Net income per limited partnership unit:

Income before extraordinary item $ 57.31 $ 17.49

Extraordinary loss on early

extinguishment of debt (4.79) (.44)

Net income $ 52.52 $ 17.05

See Accompanying Notes to Consolidated Financial Statements

ANGELES INCOME PROPERTIES, LTD. 6

CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)
(in thousands, except unit data)

Limited

Partnership General Limited

Units Partner Partners Total

Original capital contributions 47,384 $ 1 $ 47,384 $ 47,385

Partners' (deficit) capital at

December 31, 1996 47,314 $ (340) $ 6,805 $ 6,465

Net income for the year ended

December 31, 1997 -- 8 807 815

Partners' (deficit) capital

at December 31, 1997 47,314 (332) 7,612 7,280

Abandonment of Limited

Partnership Units (Note I) (3) -- -- --

Disposition payable to

General Partner (Note F) -- (212) -- (212)

Net income for the year ended

December 31, 1998 -- 646 2,485 3,131

Partners' capital

at December 31, 1998 47,311 $ 102 $ 10,097 $ 10,199

See Accompanying Notes to Consolidated Financial Statements

ANGELES INCOME PROPERTIES, LTD. 6
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)

Years ended

December 31,

1998 1997

Cash flows from operating activities:

Net income $ 3,131 $ 815

Adjustments to reconcile net income to net cash

provided by operating activities:

Depreciation 999 1,031

Amortization of discounts, loan costs, and

leasing commissions 124 157

Gain on sale of investment property (2,995) (692)

Extraordinary loss on early extinguishment of debt 229 21

Change in accounts:

Receivables and deposits 340 59

Other assets (87) (66)

Accounts payable 16 (80)

Tenant security deposit liabilities (2) (15)

Accrued taxes 28 41

Other liabilities 316 59

Net cash provided by operating activities 2,099 1,330

Cash flows from investing activities:

Property improvements and replacements (749) (370)

Net deposits to restricted escrows (14) (17)

Proceeds from sale of investment property 6,959 1,229

Net cash provided by investing activities 6,196 842

Cash flows from financing activities:

Payments on mortgage notes payable (291) (297)

Repayment of mortgage notes payable (5,027) (1,780)

Loan costs paid -- (6)

Net cash used in financing activities (5,318) (2,083)

Net increase in cash and cash equivalents 2,977 89

Cash and cash equivalents at beginning of period 1,941 1,852

Cash and cash equivalents at end of period $ 4,918 $ 1,941

Supplemental disclosure of cash flow information:

Cash paid for interest $ 1,707 $ 2,174

Supplemental disclosure of non-cash financing activities:

Interest on notes payable transferred to principal $ -- $ 423

Disposition payable to General Partner $ 212 $ --

See Accompanying Notes to Consolidated Financial Statements

ANGELES INCOME PROPERTIES, LTD. 6
Notes to Consolidated Financial Statements

December 31, 1998

NOTE A - ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

Organization: Angeles Income Properties, Ltd. 6 (the "Partnership" or
"Registrant") is a publicly-held limited partnership organized under the
California Uniform Limited Partnership Act pursuant to the Agreement of Limited
Partnership dated June 29, 1984, as amended (the "Agreement"). The Partnership's
general partner is Angeles Realty Corporation II, a California corporation (the
"General Partner" or "ARC II") and is wholly-owned by Insignia Properties Trust
("IPT"), which is a subsidiary of Apartment Investment and Management Company
("AIMCO"). Thus, the General Partner is now a wholly-owned subsidiary of AIMCO.
The Partnership Agreement provides that the Partnership is to terminate on
December 31, 2037, unless terminated prior to such date. As of December 31,
1998, the Partnership operates four residential and two commercial properties
located in or near major urban areas in the United States. Subsequent to
December 31, 1998, the Partnership completed its sale of Mesa Dunes Mobile Home
Park, (See "Note K _ Subsequent Event" for details of the transaction).

Principles of Consolidation: The consolidated financial statements of the
Partnership include its 99% limited partnership interests in Granada AIPL 6,
Ltd., AIP 6 GP, LP, Whispering Pines AIP 6, LP and Lazy Hollow Partners, Ltd.
The Partnership may remove the general partner of all of the above Partnerships;
therefore, the partnerships are controlled and consolidated by the Partnership.
Also included in the consolidated financial statements are Mesa Dunes GP, LLC,
Wakonda Partners, Town and Country Partners and Mesa Dunes Partners, which are
wholly-owned by the partnership. All significant interpartnership balances have
been eliminated.

Allocations and Distributions to Partners: In accordance with the Agreement of
Limited Partnership (the "Partnership Agreement"), any gain from the sale or
other disposition of Partnership assets will be allocated first to the General
Partner to the extent of the amount of any Incentive Interest to which the
General Partner is entitled. Any gain remaining after said allocation will be
allocated to the General Partner and Limited Partners in proportion to their
interests in the Partnership; provided, that the gain shall first be allocated
to Partners with negative account balances, in proportion to such balances, in
an amount equal to the sum of such negative capital account balances.

The Partnership will allocate other profits and losses 1% to the General Partner
and 99% to the Limited Partners.

Except as discussed below, the Partnership will allocate distributions 1% to the
General Partner and 99% to the Limited Partners.

Upon the sale or other disposition, or refinancing of any asset of the
Partnership, the Distributable Net Proceeds shall be distributed as follows:
(i) First, to the General Partner, on account of the current and accrued
Management Fee payable, deferred as contemplated therein (ii) Second, to the
Partners in proportion to their interests until the Limited Partners have
received proceeds equal to their unrecovered Capital Contributions (iii) Third,
to the Partners until the Limited Partners have received distributions equal to
their 6% (not compounded) Cumulative Distribution; (iv) Fourth, to the General
Partner until it has received an amount equal to 3% of the aggregate Disposition
Prices of all properties or investments sold (Initial Incentive Interest); (v)
Fifth, to the Partners until the Limited Partners have received distributions
equal to their 8% (not compounded) Cumulative Distribution, with certain limited
partners receiving additional priority distributions ranging from 1.5% to 4.5%
per annum (not compounded); and (vi) Sixth, thereafter, 86% to the Partners in
proportion to their interests and 14% (Final Incentive Interest) to the General
Partner.

Allocation of Profits, Gains and Losses: Profits, gains and losses of the
Partnership are allocated between general and limited partners in accordance
with the provisions of the Partnership Agreement.

Fair Value of Financial Instruments: Statement of Financial Accounting
Standards ("SFAS") No. 107, "Disclosures about Fair Value of Financial
Instruments", as amended by SFAS No. 119, "Disclosures about Derivative
Financial Instruments and Fair Value of Financial Instruments", requires
disclosure of fair value information about financial instruments, whether or not
recognized in the balance sheet, for which it is practicable to estimate fair
value. Fair value is defined in the SFAS as the amount at which the instruments
could be exchanged in a current transaction between willing parties, other than
in a forced or liquidation sale. The Partnership believes that the carrying
amount of its financial instruments (except for long term debt) approximates
their fair value due to the short term maturity of these instruments. The fair
value of the Partnership's long term debt, after discounting the scheduled loan
payments to maturity, approximates its carrying balance.

Depreciation: Depreciation is computed using the straight-line and accelerated
methods over the estimated useful lives of the investment properties and related
personal property. For Federal income tax purposes, depreciation is computed
by using the straight-line method over an estimated life of 5 to 20 years for
personal property and 15 to 40 years for real property.

Use of Estimates: The preparation of financial statements in conformity with
generally accepted accounting principles requires management to make estimates
and assumptions that affect the amounts reported in the financial statements and
accompanying notes. Actual results could differ from those estimates.

Cash and Cash Equivalents: Cash and cash equivalents include cash on hand and
in banks, money market accounts, and certificates of deposit with original
maturities of less than 90 days. At certain times, the amount of cash deposited
at a bank may exceed the limit on insured deposits.

Tenant Security Deposits - The Partnership requires security deposits from
lessees for the duration of the lease and such deposits are included in
receivables and deposits. Deposits are refunded when the tenant vacates,
provided the tenant has not damaged its space and is current on its rental
payments.

Investment Properties: Investment properties consist of four apartment
complexes and two commercial complexes and are stated at cost. Acquisition fees
are capitalized as a cost of real estate. In accordance with Financial
Accounting Standards Board Statement No. 121, "Accounting for the Impairment of
Long-Lived Assets and for Long-Lived Assets to Be Disposed Of", the Partnership
records impairment losses on long-lived assets used in operations when events
and circumstances indicate that the assets might be impaired and the
undiscounted cash flows estimated to be generated by those assets are less than
the carrying amounts of those assets. Costs of investment properties that have
been permanently impaired have been written down to appraised value. No
adjustments for impairment of value were recorded in the years ended December
31, 1998 or 1997.

Restricted Escrows:

Capital Reserves: At the time of the refinancing of Mesa Dunes Mobile Home Park
proceeds were designated for "capital improvement escrows" for certain capital
improvements. At December 31, 1998, Mesa Dunes Mobile Home Park had unexpended
balances including interest of approximately $9,000 for capital improvements.
Upon completion of scheduled property improvements, any excess funds will be
returned for property operations.

Replacement Reserves: As a result of the refinancings in prior years of
Homestead Apartments, Casa Granada Apartments, and Lazy Hollow Apartments,
general reserve accounts were established to cover necessary repairs and
replacements of existing improvements. The balance in the reserve account for
Homestead Apartments at December 31, 1998 is approximately $61,000, with
required monthly deposits of $2,000. The balance for Casa Granada Apartments at
December 31, 1998, is approximately $34,000, with required monthly deposits of
$2,000. The balance for Lazy Hollow Apartments at December 31, 1998, is
approximately $199,000 with required monthly deposits of $2,000.

Loan Costs: Loan costs of approximately $498,000, less accumulated amortization
of approximately $270,000 at December 31, 1998, are included in other assets and
are being amortized on a straight-line basis over the lives of the respective
loans.

Advertising Costs: The Partnership expenses the costs of advertising as
incurred. Advertising expense, which is included in operating expenses, was
approximately $136,000 and $110,000 for the years ended December 31, 1998 and
1997, respectively.

Lease Commissions: Lease commissions of approximately $272,000 are included in
other assets and are being amortized using the straight-line method over the
terms of the respective leases. Current accumulated amortization is
approximately $143,000.

Leases: The Partnership generally leases residential units for twelve-month
terms or less. The Partnership recognizes income as earned on residential
leases. Commercial building lease terms are generally from 1 to 20 years.
Income from base rents on such leases is recognized on a straight-line basis
over the lease term. Several tenants have percentage rent clauses which provide
for additional rent upon the tenant achieving certain objectives. Percentage
rent recognized was approximately $103,000 and $214,000 in 1998 and 1997,
respectively.

Segment Reporting: In June 1997, the Financial Accounting Standards Board
issued Statement of Financial Standards No. 131, Disclosure about Segments of an
Enterprise and Related Information ("Statement 131"), which is effective for
years beginning after December 15, 1997. Statement 131 established standards
for the way that public business enterprises report information about operating
segments in annual financial statements and requires that those enterprises
report selected information about operating segments in interim financial
reports. It also establishes standards for related disclosures about products
and services, geographic areas, and major customers, see "Note J" for required
disclosure.

Reclassifications: Certain reclassifications have been made to the 1997
balances to conform to the 1998 presentation.

NOTE B - TRANSFER OF CONTROL

NOTE C - NOTES PAYABLE

The principle terms mortgage notes payable are as follows:

Principal Monthly Principal
Balance At Payment Stated Balance
December Including Interest Maturity Due At
Property 1998 Interest Rate Date Maturity

(in thousands) (in thousands)

Lazy Hollow Apartments
1st trust deed $ 4,004 $ 32 7.50% 07/2019 $ --
Homestead Apartments
1st trust deed 3,134 22 7.33% 11/2003 2,935
Casa Granada Apartments
1st trust deed 1,288 12 10.07% 09/1999 1,280
Mesa Dunes Mobile Home
Park
1st trust deed 6,234 49 7.83% 10/2003 5,699
2nd trust deed (1) 205 1 7.83% 10/2003 205
Wakonda Shopping Center/
Town & Country
Shopping Center
1st trust deed (2) 3,350 28 9.0% 12/2003 3,125
18,215 $ 144 $ 13,244
Less unamortized
discount (80)
$ 18,135

(1) Interest only payments.
(2) Payable to Angeles Mortgage Investment Trust ("AMIT") (see "Note E").

During the first quarter of 1997, the General Partner successfully negotiated a
restructure of the mortgage indebtedness to AMIT, which was secured by the
LaSalle Warehouse. The terms of the restructure included adding previously
accrued interest of approximately $423,000 to the principal. The new interest
rate was 11.5% per annum, and the note was due December 31, 2003. Additionally,
AMIT was granted a second mortgage on the Wakonda Shopping Center and the Town &
Country Shopping Center as additional security on the loan. In October 1997,
LaSalle Warehouse was sold, and the mortgage balance of approximately $1,334,000
was paid from the sales proceeds and other Partnership funds.

A working capital loan due to AAP matured in November 1997. The principal
balance of approximately $446,000 plus accrued interest of approximately
$208,000 was paid in December 1997.

The mortgage notes payable are non-recourse and are secured by pledge of the
respective apartment properties and by pledge of revenues from the respective
apartment properties. Penalties are required if repaid prior to maturity.
Further the properties may not be sold subject to existing indebtedness.

Scheduled principal payments of mortgage notes payable subsequent to December
31, 1998, are as follows (in thousands):

1999 $ 1,544

2000 277

2001 299

2002 323

2003 12,268

Thereafter 3,504

$ 18,215

NOTE D - SALE OF INVESTMENT PROPERTIES

On July 16, 1998, the Partnership sold Whispering Pines Mobile Home Park to an
unaffiliated third party for net sales proceeds of approximately $1,935,000
after payoff of the first and second mortgages and payment of closing costs.
The Partnership realized a gain of approximately $2,995,000 on the sale during
the third quarter of 1998. The Partnership also realized a loss on the early
extinguishment of debt encumbering the property of approximately $229,000 during
the third quarter of 1998 consisting of the write off of unamortized loan costs
and mortgage discount. The General Partner is currently evaluating the
feasibility of a distribution of the sale proceeds.

On October 8, 1997, LaSalle Warehouse was sold to an unaffiliated party. The
sales price of the property was $1,300,000. The sale resulted in net proceeds
of approximately $1,229,000 after payment of closing costs. At the time of
closing the outstanding mortgage balance of approximately $1,334,000 was repaid
from the net proceeds and other Partnership funds. The Partnership recorded a
gain on disposition of property of approximately $692,000 as well as an
extraordinary loss on early extinguishment of debt of approximately $21,000
related to the write off of unamortized loan costs.

NOTE E - INCOME TAXES

The Partnership has received a ruling from the Internal Revenue Service that it
will be classified as a partnership for Federal income tax purposes.
Accordingly, no provision for income taxes is made in the consolidated financial
statements of the Partnership. Taxable income or loss of the Partnership is
reported in the income tax returns of its partners.

The following is a reconciliation of reported net income and Federal taxable
loss:

1998 1997

(in thousands, except unit data)

Net income as reported $3,131 $ 815

Add (deduct):

Depreciation differences (64) (71)

Unearned income -- 53

Disposition of investment property (54) (660)

Other 124 12

Federal taxable income $3,137 $ 149

Federal taxable income per

limited partnership unit $53.32 $ 2.45

The following is a reconciliation between the Partnership's reported amounts and
Federal tax basis of net assets and liabilities (in thousands):

Net assets as reported $ 10,199

Land and buildings 6,993

Accumulated depreciation 482

Syndication and distribution costs 6,802

Other 282

Net assets - Federal tax basis $ 24,758

NOTE F - TRANSACTIONS WITH AFFILIATED PARTIES

The Partnership has no employees and is dependent on the General Partner and its
affiliates for the management and administration of all partnership activities.
The Partnership Agreement provides for certain payments to affiliates for
services and as reimbursement of certain expenses incurred by affiliates on
behalf of the Partnership.

The following payments were made to the General Partner and affiliates during
the year ended December 31, 1998 and 1997:

1998 1997

(in thousands)

Property management fees (included in operating

expenses) $ 313 $ 336

Property lease commissions 34 39

Reimbursement for services of affiliates

(included in operating and general and

administrative expenses) 293 258

Partnership management for (included in

general and administrative expense) 104 --

During the years ended December 31, 1998 and 1997, affiliates of the General
Partner were entitled to receive 5% of gross receipts from all of residential
properties for providing property management services. The Registrant paid to
such affiliates approximately $274,000 and $285,000 for the years ended December
31, 1998 and 1997, respectively. For the nine months ended September 30, 1998
and the year ended December 31, 1997 affiliates of the Managing General Partner
were entitled to receive varying percentages of gross receipts from all of the
Registrant's commercial properties for providing property management services.
The Registrant paid to such affiliates approximately $39,000 and $51,000 for the
nine months ended September 30, 1998 and the year ended December 31, 1997.
Effective October 1, 1998 (the effective date of the Insignia Merger) these
services for the commercial properties were provided by an unrelated party.

An affiliate of the General Partner received reimbursement of accountable
administrative expenses amounting to approximately $293,000 and $258,000 for the
years ended December 31, 1998 and 1997, respectively.

Pursuant to the Partnership Agreement for managing the affairs of the
Partnership, the General Partner is entitled to receive a Partnership management
fee equal to 10% of the Partnership's adjusted cash from operations.
Approximately $104,000 in Partnership management fees was accrued during the
year ended December 31, 1998. No fee was accrued or paid in 1997.

Pursuant to the Partnership Agreement, the General Partner is entitled to
receive a distribution of 3% the aggregate disposition price of sold properties.
Pursuant to this provision, the Registrant declared a distribution, of
approximately $212,000 payable to the General Partner. However, this fee is
subordinate to the limited partners receiving a preferred return, as specified
in the partnership agreement.

For the period from January 1, 1997, to August 31, 1997, the Partnership insured
its properties under a master policy through an agency affiliated with the
General Partner with an insurer unaffiliated with the General Partner. An
affiliate of the General Partner acquired, in the acquisition of a business,
certain financial obligations from an insurance agency which was later acquired
by the agent who placed the master policy. The agent assumed the financial
obligations to the affiliate of the General Partner who receives payment on
these obligations from the agent. The amount of the Partnership's insurance
premiums that accrued to the benefit of the affiliate of the General Partner by
virtue of the agent's obligations was not significant.

The Partnership has a first mortgage to AMIT in the amount of $3,350,000, which
is secured by Wakonda Shopping Center and Town & Country Shopping Center.
Pursuant to a series of transactions, affiliates of the General Partner acquired
ownership interests in AMIT. On September 17, 1998, AMIT was merged with and
into IPT. As a result, IPT became the holder of the AMIT note. The Partnership
paid approximately $303,000 and $306,000 in interest expense on this note to
AMIT for 1998 and 1997, respectively.

NOTE G - REAL ESTATE AND ACCUMULATED DEPRECIATION

Initial Cost

To Partnership

(in thousands)

Cost

Buildings Capitalized

and Related (Removed)

Personal Subsequent to

Description Encumbrances Land Property Acquisition

(in thousands) (in thousands)

Lazy Hollow Apartments $ 4,004 $ 998 $ 8,988 $ (3,279)

Homestead Apartments 3,134 557 5,988 (973)

Casa Granada Apartments 1,288 235 1,930 502

Mesa Dunes Mobile

Home Park 6,439 2,205 6,724 39

Wakonda Shopping Center 873 2,469 211

Town & Country Shopping

Center 3,350 38 3,994 422

18,215 4,906 30,093 (3,078)

Less unamortized discounts (80) -- -- --

$ 18,135 $ 4,906 $ 30,093 $ (3,078)

Gross Amount At Which Carried

At December 31, 1998

(in thousands)

Buildings

And

Personal Accumulated Date Depreciable

Description Land Property Total Depreciation Acquired Life-Years

(in thousands)

Lazy Hollow Apartments $ 841 $ 5,866 $ 6,707 $ 2,538 07/01/89 10-40

Homestead Apartments 557 5,015 5,572 1,908 11/10/88 10-40

Casa Granada Apartments 234 2,433 2,667 694 04/30/89 10-40

Mesa Dunes Mobile Home

Park 2,205 6,763 8,968 1,428 04/01/95 10-40

Wakonda Shopping Center 873 2,680 3,553 1,009 04/01/95 10-40

Town & Country Shopping

Center 38 4,416 4,454 985 04/01/95 10-40

Totals $ 4,748 $ 27,173 $ 31,921 $ 8,562

</TABLE>

The depreciable lives included above are for the buildings and components. The
depreciable lives for related personal property are for 5 to 7 years.

Reconciliation of "Real Estate and Accumulated Depreciation:"

Years Ended December 31,

1998 1997

(in thousands)

Investment Properties

Balance at beginning of year $ 36,223 $ 36,604

Property improvements 749 370

Disposal of property (5,051) (751)

Balance at end of Year $ 31,921 $ 36,223

Accumulated Depreciation

Balance at beginning of year $ 8,650 $ 7,834

Additions charged to expense 999 1,031

Disposal of property (1,087) (215)

Balance at end of Year $ 8,562 $ 8,650

The aggregate cost of the investment properties for Federal income tax purposes
at December 31, 1998 and 1997, is approximately $38,914,000 and $43,217,000,
respectively. The accumulated depreciation taken for Federal income tax purposes
at December 31, 1998 and 1997, is approximately $8,080,000 and $8,051,000,
respectively.

NOTE H - OPERATING LEASES

Tenants of the commercial properties are responsible for their own utilities and
maintenance of their space, and payment of their proportionate share of common
area maintenance, utilities, insurance and real estate taxes. Tenants are
generally not required to pay a security deposit.

As of December 31, 1998, the Partnership had minimum future rentals under
noncancellable leases with initial or remaining terms in excess of one year as
follows:

(in thousands)

1999 $ 1,128

2000 889

2001 586

2002 374

2003 222

Thereafter 718

$ 3,917

NOTE I - ABANDONMENT OF LIMITED PARTNERSHIP UNITS

In 1998, the number of Limited Partnership Units decreased by 3 units due to
Limited Partners abandoning their units. In abandoning Limited Partnership
Units, a Limited Partner relinquishes all right, title and interest in the
Partnership as of the date of abandonment. However, during the year of
abandonment, the Limited Partner will still be allocated his or her share of the
income or loss for that year. The income per limited partnership unit in the
accompanying consolidated statements of operations is calculated based on the
number of units outstanding at the beginning of the year. No units were
abandoned in 1997.

NOTE J - SEGMENT REPORTING

Description of the types of products and services from which the reportable
segments derive their revenues: As defined by SFAS No. 131, "Disclosures about
Segments of an Enterprise and Related Information", the Partnership has two
reportable segments: residential and commercial properties. The Partnership's
residential property segment consists of four apartment complexes in four states
in the United States. The Partnership's commercial property segment consists of
two shopping centers located in Iowa. The Partnership rents apartment units to
people for terms that are typically twelve months or less. The Partnership's
commercial property segment consists of two retail shopping centers located in
Iowa. Both properties lease space to various specialty retail outlets, several
fast food enterprises, discount stores and Wakonda also leases space to a
grocery store.

Measurement of segment profit or loss: The Partnership evaluates performance
based on net income. The accounting policies of the reportable segment are the
same as those described in the summary of significant accounting policies.

Factors management used to identify the enterprise's reportable segments: The
Partnership's reportable segments consist of investment properties that offer
different products and services. The reportable segments are each managed
separately, because they provide services with different types of products and
customers.

Segment information for the years 1998 and 1997 is shown in the tables below.
The "Other" column includes partnership administration related items and income
and expense not allocated to reportable segments.

1998 RESIDENTIAL COMMERCIAL OTHER TOTALS

Rental income $ 5,034 $ 1,675 $ -- $ 6,709
Other income 285 60 55 400
Interest expense 1,475 303 -- 1,778
Depreciation 719 280 -- 999
General and administrative expense -- -- 567 567
Gain on disposal of property 2,995 -- -- 2,995
Loss on extraordinary item 229 -- -- 229
Segment profit (loss) 3,336 307 (512) 3,131
Total assets 22,275 6,607 941 29,823
Capital expenditures for
investment properties 325 424 -- 749

1997 RESIDENTIAL COMMERCIAL OTHER TOTALS

Rental income $ 5,387 $ 1,852 $ -- $ 7,239
Other income 264 108 55 427
Interest expense 1,706 551 43 2,300
Depreciation (754) (277) -- 1,031
General and administrative expense -- -- 412 412
Gain on disposal of property -- 692 -- 692
Loss on extraordinary item -- 21 -- 21
Segment profit (loss) 830 385 (400) 815
Total assets 24,343 6,663 567 31,573
Capital expenditures for
Investment properties 267 103 -- 370

NOTE K - SUBSEQUENT EVENT

Mesa Dunes Mobile Home Park was sold for approximately $9,500,000 and the
Partnership recognized approximately $2,000,000 on February 19, 1999.

NOTE L - LEGAL PROCEEDINGS

The Partnership is unaware of any other pending or outstanding litigation that
is not of a routine nature arising in the ordinary course of business.

ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANT ON ACCOUNTING AND
FINANCIAL DISCLOSURES

There were no disagreements with Ernst & Young LLP regarding the 1998 and 1997
audits of the Partnerships financial statements.

PART III

ITEM 9. DIRECTORS, EXECUTIVE OFFICERS, PROMOTERS AND CONTROL PERSONS;
COMPLIANCE WITH SECTION 16(A) OF THE EXCHANGE ACT

Angeles Income Properties, Ltd. 6 (the "Partnership" or the "Registrant") has no
officers or directors.

The names and ages of, as well as the positions and offices held by, the present
executive officers and directors of Angeles Realty Corporation II (the "General
Partner" or "ARC II") are set forth below. There are no family relationships
between or among any officers or directors.

Name Age Position

Patrick J. Foye 41 Executive Vice President and Director

Timothy R. Garrick 42 Vice President - Accounting and Director

Patrick J. Foye has been Executive Vice President and Director of the General
Partner since October 1, 1998. Mr. Foye has served as Executive Vice President
of AIMCO since May 1998. Prior to joining AIMCO, Mr. Foye was a partner in the
law firm of Skadden, Arps, Slate, Meagher & Flom LLP from 1989 to 1998 and was
Managing Partner of the firm's Brussels, Budapest and Moscow offices from 1992
through 1994. Mr. Foye is also Deputy Chairman of the Long Island Power
Authority and serves as a member of the New York State Privatization Council.
He received a B.A. from Fordham College and a J.D. from Fordham University Law
School.

Timothy R. Garrick has served as Vice President-Accounting of AIMCO and Vice
President-Accounting and Director of the General Partner since October 1, 1998.
Prior to that date, Mr. Garrick served as Vice President-Accounting Services of
Insignia Financial Group since June of 1997. From 1992 until June of 1997, Mr.
Garrick served as Vice President of Partnership Accounting and from 1990 to 1992
as an Asset Manager for Insignia Financial Group. From 1984 to 1990, Mr.
Garrick served in various capacities with U.S. Shelter Corporation. From 1979
to 1984, Mr. Garrick worked on the audit staff of Ernst & Whinney. Mr. Garrick
received his B.S. Degree from the University of South Carolina and is a
Certified Public Accountant.

ITEM 10. EXECUTIVE COMPENSATION

No direct form of compensation or remuneration was paid by the Partnership to
any officer or director of ARC II. The Partnership has no plan, nor does the
Partnership presently propose a plan, which will result in any remuneration
being paid to any officer or director upon termination of employment. However,
certain fees and other payments have been made to the Partnership's General
Partner and its affiliates, as described in "Item 12." below.

ITEM 11. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

Except as noted below, no person or entity was known by the Registrant to be the
beneficial owner of more than 5% of the Limited Partnership Units of the
Registrant as of December 31, 1998.

Number

Entity of Units Percentage

Cooper River Properties, LLC 3,605 7.41%

AIMCO Properties LP 77 .16%

Insignia Properties LP 1,956 4.13%

Cooper River Properties LLC and Insignia Properties LP are indirectly ultimately
owned by AIMCO. Their business address is 55 Beattie Place, Greenville, SC
29602.

AIMCO Properties, L.P. is an affiliate of AIMCO. Their business address is 1873
South Bellaire Street, 17th Floor, Denver, Colorado 80222.

No director or officer of the General Partner owns any Units. The General
Partner owns 100 Units as required by the terms of the partnership agreement
governing the Partnership.

On October 1, 1998, Insignia Financial Group, Inc. merged into AIMCO, a real
estate investment trust, whose Class A Common Shares are listed on the New York
Stock Exchange. As a result of such merger, AIMCO and AIMCO Properties, L.P., a
Delaware limited partnership and the operating partnership of AIMCO ("AIMCO OP")
acquired indirect control of the General Partner. AIMCO and its affiliates
currently own 11.708% of the limited partnership interests in the Partnership.
AIMCO is presently considering whether it will engage in an exchange offer for
additional limited partnership interests in the Partnership. There is a
substantial likelihood that, within a short period of time, AIMCO OP will offer
to acquire limited partnership interests in the Partnership for cash or
preferred units or common units of limited partnerships interests in AIMCO OP.
While such an exchange offer is possible, no definite plans exist as to when or
whether to commence such an exchange offer, or as to the terms of any such
exchange offer, and it is possible that none will occur.

A registration statement relating to these securities has been filed with the
Securities and Exchange Commission but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior to the time
the registration statement becomes effective. This Form 10-KSB shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state.

The Partnership knows of no contractual arrangements, the operation of the terms
of which may at a subsequent date result in a change in control of the
Partnership, except for: Article 12.1 of the Agreement, which provides that
upon a vote of the Limited Partners holding more than 50% of the then
outstanding Limited Partnership Units the General Partner may be expelled from
the Partnership upon 90 days written notice. In the event that a successor
general partner has been elected by Limited Partners holding more than 50% of
the then outstanding Limited Partnership Units and if said Limited Partners
elect to continue the business of the Partnership, the Partnership is required
to pay in cash to the expelled General Partner an amount equal to the accrued
and unpaid management fee described in Article 10 of the Agreement and to
purchase the General Partner interest in the Partnership on the effective date
of the expulsion, which shall be an amount equal to the difference between (i)
the balance of the General Partner capital account and (ii) the fair market
value of the share of Distributable Net Proceeds to which the General Partner
would be entitled. Such determination of the fair market value of the share of
Distributable Net Proceeds is defined in Article 12.2(b) of the Agreement.

ITEM 12. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

The following payments were made to the General Partner and affiliates during
the year ended December 31, 1998 and 1997:

1998 1997

(in thousands)

Property management fees (included in operating

expenses) $ 313 $ 336

Property lease commissions 34 39

Reimbursement for services of affiliates

(included in operating and general and

Administrative expenses) 293 258

Partnership management for (included in

general and administrative expense) 104 --

Pursuant to the Partnership Agreement, the General Partner is entitled to
receive a distribution of 3% the aggregate disposition price of sold properties.
Pursuant to this provision, the Registrant has declared a distribution of
approximately $212,000 payable to the General Partner. However, this fee is
subordinate to the limited partners receiving a preferred return, specified in
the partnership agreement.

ITEM 13. EXHIBITS AND REPORTS ON FORM 8-K

(a) Exhibits: See Exhibit Index contained herein.

(b) Reports on Form 8-K filed in the fourth quarter of fiscal year 1998:

Current Report Form 8-K dated October 1, 1998, and filed October 16, 1998,
disclosing change in control of Registrant from Insignia Financial Group,
Inc. to AIMCO.

SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the Registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

ANGELES INCOME PROPERTIES, LTD. 6
(A California Limited Partnership)
(Registrant)

By: Angeles Realty Corporation II
Its General Partner

By: /s/Patrick J. Foye
Patrick J. Foye
Executive Vice President

By: /s/Timothy R. Garrick
Timothy R. Garrick
Vice President - Accounting

Date: March 30, 1999

In accordance with the Exchange Act, this report has been signed below by the
following persons on behalf of the Registrant and in the capacities and on the
date indicated.

By:/s/Patrick J. Foye Date: March 30, 1999
Patrick J. Foye
Executive Vice President and Director

By:/s/Timothy R. Garrick Date: March 30, 1999
Timothy R. Garrick
Vice President - Accounting and Director

EXHIBIT INDEX

EXHIBIT

2.1 NPI, Inc. Stock Purchase Agreement, dated as of August 17, 1995,
incorporated by reference to the Partnership's Current Report on Form 8-
K dated August 17, 1995.

3.1 Amended Certificate and Agreement of the Limited Partnership filed in
the Partnership's Prospectus dated June 11, 1987 which is incorporated
herein by reference.

3.2 Second Amended and Restated Bylaws of IPT, dated October 2, 1998
(incorporated by reference to Registrant's Current Report on Form 8-K,
dated October 1, 1998.

10.1 Agreement of Purchase and Sale of Real Property with Exhibits -
Whispering Pines Mobile Home Park filed in Form 8-K dated November 30,
1987 which is incorporated herein by reference.

10.2 Agreement of Purchase and Sale of Real Property with Exhibits - Mesa
Dunes Mobile Home Park filed in Form 8-K dated December 23, 1987 which
is incorporated herein by reference.

10.3 Beneficiary's Statement of Assumption - Mesa Dunes Mobile Home Park
filed in Form 8-K dated December 23, 1987 which is incorporated herein
by reference.

10.4 General Partnership Agreement of Sunny Acres Partners - Mesa Dunes
Mobile Home Park filed in Form 8-K dated December 23, 1987 which is
incorporated here in by reference.

10.5 Agreement of Purchase and Sale of Property with Exhibits - Wakonda
Shopping Center and Town and Country Shipping Center filed in Form 8-K
dated December 30, 1987 which is incorporated herein by reference.

10.6 First Amendment to Agreement of Purchase and Sale of Property - Wakonda
Shopping Center and Town and Country Shopping Center filed in Form 8-K
dated December 30, 1987 which is incorporated herein by reference.

10.7 Agreement of Purchase and Sale of Real Property with Exhibits -
Homestead Apartments filed in Form 8-K dated November 10, 1988 which is
incorporated herein by reference.

10.8 Promissory Note Homestead Apartments filed in Form 10-K dated March 29,
1991 which is incorporated herein by reference.

10.9 Agreement of Purchase and Sale of Real Property and exhibits - Lazy
Hollow Apartments filed in Form 8-K dated December 1989, which is
incorporated herein by reference.

10.10 Agreement of Purchase and Sale of Real Property and exhibits - Hawthorne
Works Business Center filed in Form 8-K dated January 19, 1990, which is
incorporated herein by reference.

10.11 Promissory Note - Whispering Pines Filed in Form 10-K dated March 27,
1992, which is incorporated herein by reference.

10.12 Stock Purchase Agreement dated November 24, 1992 showing the purchase of
100% of the outstanding stock of Angeles Realty Corporation II by IAP GP
Corporation, a subsidiary of MAE GP Corporation, filed in Form 8-K dated
December 31, 1992, which is incorporated herein by reference.

10.13 Contract to Purchase and Sell Property - Cable Plant and CM Complex of
Hawthorne Business Works - between CP and CMC and Greybeard Properties,
LLC, dated July 1, 1996.

10.14 Assignment and Assumption of Leases - Cable Plant and CM Complex of
Hawthorne Business Works - between CP and CMC and LaSalle National
Trust, as Trustee dated August 28, 1996.

10.15 Assignment and Assumption of Contracts - Cable Plant and CM Complex of
Hawthorne Business Works - between CP and CMC and Hawthorne Street
Properties, LLC, as agent of LaSalle National Trust, as Trustee dated
August 28, 1996.

10.16 Bill of Sale - Cable Plant and CM Complex of Hawthorne Business Works -
between CP and CMC and LaSalle National Trust, as Trustee dated August
28, 1996.

10.17 Multifamily Note dated November 1, 1996, between Angeles Income
Properties Ltd. 6, a California Limited Partnership and Lehman Brothers
Holdings, Inc., relating to Homestead Apartments.

10.18 CONTRACT OF SALE executed October 8, 1997, by and between ANGELES INCOME
PROPERTIES, LTD. 6, a California limited partnership and PAUL CALLISTER
regarding the sale of LaSalle Warehouse.

10.19 ASSIGNMENT AND ASSUMPTION OF LEASES regarding the sale of LaSalle
Warehouse.

10.20 BLANKET CONVEYANCE, BILL OF SALE AND ASSIGNMENT regarding the sale of
LaSalle Warehouse.

16.1 Letter from the Registrant's former independent accountant regarding its
concurrence with the statements made by the Registrant is incorporated
by reference to the Exhibit filed with Form 8-K dated September 1, 1993.

27 Financial Data Schedule.

<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Angeles
Income Properties, Ltd. 6 1998 Year-End 10-KSB and is qualified in its entirety
by reference to such 10-KSB filing.
</LEGEND>
<CIK> 0000812564
<NAME> ANGELES INCOME PROPERTIES, LTD. 6
<MULTIPLIER> 1,000

<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<CASH> 4,918
<SECURITIES> 0
<RECEIVABLES> 0
<ALLOWANCES> 0
<INVENTORY> 0
<CURRENT-ASSETS> 0<F1>
<PP&E> 31,921
<DEPRECIATION> 8,562
<TOTAL-ASSETS> 29,823
<CURRENT-LIABILITIES> 0<F1>
<BONDS> 18,135
0
0
<COMMON> 0
<OTHER-SE> 10,199
<TOTAL-LIABILITY-AND-EQUITY> 29,823
<SALES> 0
<TOTAL-REVENUES> 10,104
<CGS> 0
<TOTAL-COSTS> 0
<OTHER-EXPENSES> 6,744
<LOSS-PROVISION> 0
<INTEREST-EXPENSE> 1,778
<INCOME-PRETAX> 3,131
<INCOME-TAX> 0
<INCOME-CONTINUING> 3,360
<DISCONTINUED> 0
<EXTRAORDINARY> (229)
<CHANGES> 0
<NET-INCOME> 3,131
<EPS-PRIMARY> 52.52<F2>
<EPS-DILUTED> 0
<FN>
<F1>Registrant has an unclassified balance sheet.
<F2>Multiplier is 1.
</FN>

</TABLE>