10
                              UNITED STATES
                    SECURITIES AND EXCHANGE COMMISSION
                         WASHINGTON, D.C.  20549

                                FORM 10-K


            [X]  Annual Report Pursuant to Section 13 or 15(d)
                of the Securities and Exchange Act of 1934


For the fiscal year ended                    Commission File Number
  December 31, 1997                                    2-96042

               CAPITAL BUILDERS DEVELOPMENT PROPERTIES,
                   A CALIFORNIA LIMITED PARTNERSHIP
        (Exact name of registrant as specified in its charter)

         California                      77-0049671

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

4700 Roseville Road, Suite 206, North Highlands, California  95660
(Address of principal executive offices)               Zip Code

Registrant's telephone number, including area code:  (916) 331-8080

Securities registered pursuant to Section 12(b) of the Act:  NONE

Securities registered pursuant to Section 12(g) of the Act:   Limited
Partnership Units

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 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.    X Yes     No

As  of December 31, 1997 the aggregate Limited Partnership Units held
by  nonaffiliates of the registrant was 13,787.  There is  no  market
for the units.

Documents Incorporated by Reference

Limited  Partnership Agreement dated May 1, 1985,  filed  as  Exhibit
3.3,  and  the  Amendment to the Limited Partnership Agreement  dated
November 20, 1985 filed as Exhibit 3.4 to Registration Statement  No.
2-96042  of  Capital  Builders Development Properties,  A  California
Limited  Partnership, are hereby incorporated by reference into  Part
IV of this Form 10K.

PART I

ITEM 1.   BUSINESS

(a)  General Development of Business

Capital  Builders  Development Properties (the  "Partnership")  is  a
publicly  held limited partnership organized under the provisions  of
the  California  Revised  Limited Partnership  Act  pursuant  to  the
Limited Partnership Agreement dated December 13, 1984, as amended and
restated  as  of  May  1,  1985 (the "Agreement").   The  Partnership
commenced  on January 10, 1985, and shall continue in full force  and
effect  until  December 31, 2020 unless dissolved sooner  by  certain
events  as described in the Agreement.  The Managing General  Partner
is  Capital  Builders,  Inc.,  a California  Corporation  (CB).   The
Associate  General Partners are the sole shareholder,  President  and
Director of CB, and four founders of CB.

On  September 19, 1985 the Partnership sold 2,468 Limited Partnership
Units  for  a total of $1,234,000.  From September 19, 1985,  through
May  1, 1986, the Partnership sold an additional 11,319 units  for  a
total of 13,787 Units.  On May 1, 1986, the Partnership was closed to
capital  raising activity with a total of $6,893,500 proceeds  raised
from the offering.  The General Partners have contributed capital  in
the  amount  of  $1,000 to the Partnership for a 1% interest  in  the
profits, losses, tax credits and distributions of the Partnership.

(b)  Financial Information about Industry Segments

The Partnership is in the business of real estate development and  is
not   a  significant  factor  in  its  industry.   The  Partnership's
remaining investment property is located near a major urban area and,
accordingly,  competes  not  only  with  similar  properties  in  its
immediate  area but with hundreds of properties throughout the  urban
areas.   Such  competition is primarily on the  basis  of  locations,
rents, services and amenities.  In addition, the Partnership competes
with  significant numbers of individuals and organizations (including
similar  Partnerships, real estate investment  trusts  and  financial
institutions)  with  respect  to  the  purchase  and  sale  of  land,
primarily on the basis of the prices and terms of such transactions.

(c)  Narrative Description of the Business

The  Partnership's business objective is to complete the  development
of  its existing land with light industrial, commercial retail, or an
office  building for lease and eventual sale.  The primary investment
objective of the Partnership is to realize capital appreciation  from
the  sale of the Properties developed by it some three to five  years
after  such  Properties  have been placed  in  service.  A  secondary
investment  objective  is  to  generate  cash  from  the  leasing  of
Partnership  Properties pending their sale for  distribution  to  the
Limited  Partners, although it is not presently anticipated that  the
amount  of  such  cash  available for  distribution  to  the  Limited
Partners will be significant.  Since the Partnership has not sold its
investment  properties, it has not achieved its investment  goals  as
yet.  Although investor returns cannot be accurately determined until
the  investment  properties  are sold, due  to  the  additional  time
required  to  lease  up the investment properties,  and  due  to  the
decline  in  real  estate  values during the California  real  estate
recession, it is anticipated that ultimate returns will be less  than
initially projected.  Funds obtained by the Partnership from the sale
of  Limited  Partnership Units have been used to  acquire  an  equity
interest  in  one  piece of land for development  and  a  60%  equity
interest in another for development in accordance with its investment
objective.

On  April  10,  1987, the Partnership entered into  a  joint  venture
called   Capital  Builders  Roseville  Venture  ("JV")  with  Capital
Builders Development Properties II ("CBDP II"), a California  Limited
Partnership.  The Partnership and CBDP II are affiliated as they have
the  same  General Partner.  The Limited Partners of the  Partnership
have  the  ability to replace the General Partner through a  majority
vote.   The  Partnership contributed $1,350,000 resulting  in  a  60%
interest  in the profits, losses and cash distributions  of  the  JV.
CB,  the  Managing General Partner of the Partnership, had  the  same
rights  and  obligations  with respect to  the  JV's  operations  and
management  as it could exercise as Managing General Partner  of  the
Partnership.   The  JV  was dissolved on May 1,  1997  when  CBDP  II
purchased CBDP's remaining 60% interest in the JV.

The acquisition of the real estate is consistent with the Partnership
objectives  which  are  to acquire, develop, hold,  maintain,  lease,
sell, or otherwise dispose of real property within the Western United
States  (including  the  states  of California,  Oregon,  Washington,
Arizona,  Nevada,  New Mexico, Utah, Colorado, Hawaii,  and  Alaska),
including without limitation, the acquisition of undeveloped land for
development  and  construction  of research  and  development,  light
industrial, commercial/retail, or office buildings thereon,  and  the
acquisition   of   partially  completed  commercial   real   property
developments for completion of development.

Although  the Associate General Partners, Officers, and Directors  of
the  Managing  General  Partners are  experienced  in  real  property
operation and management, they also may utilize independent advisors,
agents,  and  workers, in addition to the Partnership  employees,  to
assist them in the operation, leasing, maintenance and improvement of
the Partnership's properties.

The  Partnership has no full time employees but is managed by CB, the
Managing General Partner.

ITEM 2.   PROPERTIES

The  Partnership owns 100% equity interest in a property called Plaza
de Oro ("PDO").  PDO is a two phase development.  Phase I is a 71,600
square   foot   mixed-use  project  consisting  of  two  multi-tenant
buildings. Phase II consists of 42,500 square foot corner  pad  which
is planned for a 9,860 square foot building.  Construction will begin
once  funding is obtained from either a construction loan or a  joint
venture   partner.   PDO  maintains  adequate  property  and  general
liability insurance.

Additional information about the Partnership's property follows:

     Ownership Percentage:                         100%

     Acquisition Date:                December 19, 1985

     Location:                       Rancho Cordova, CA

     Present Monthly
          Effective Average
     Base Rent Per Square Foot:                   $0.85

     Square Footage Mix:
          Office                                 28,820
          Industrial                             33,825
          Retail                                  8,940

     Leased Occupancy at
       December 31:   1997                          81%
                      1996                          98%
                      1995                          92%
                      1994                          87%
                      1993                          64%

     Current Year Depreciation:                $189,973

     Method of Depreciation:              Straight Line

     Depreciation Life:                        40 Years
                                      Bldg Improvements
                                          Life of Lease
                                    Tenant Improvements

     Total cost:                             $5,174,921

     Encumbrances:                           $3,503,398

Tenant occupying more than
10% of square footage and nature
of business:                     FPA Medical Management


The  Partnership's property is held subject to encumbrances which are
fully   described  under  Note  7  of  the  Partnership's   Financial
Statements  included  under Item 8 which is  incorporated  herein  by
reference.

Plaza  de  Oro  is  being leased to a wide variety of  tenants  in  a
diversity of industries.  Leases are typically three to five years in
term  and  provide  for  free rent periods, at  inception,  equal  to
approximately  one  month  per year of a  lease  term.   Some  leases
contain options to extend the term of the lease.

The  Partnership's investment property is located in  a  major  urban
area  and,  therefore, must compete with properties  of  greater  and
lesser  quality.   Such  competition  is  based  primarily  on  rent,
location,  services and amenities.  The properties are  suitable  for
their current and anticipated use.

ITEM 3.   LEGAL PROCEEDINGS

None

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

None


                                 PART II

ITEM 5.   MARKET  FOR REGISTRANT'S LIMITED PARTNERSHIP INTERESTS  AND
          RELATED SECURITY HOLDER MATTERS

There  is  no  public  trading market for the  Partnership's  Limited
Partnership  Units and it is not anticipated that  a  public  trading
market   will   develop.   Furthermore,  the  Partnership   Agreement
prohibits  Limited  Partners  from transferring  Limited  Partnership
Interests  if such transfers would result in the dissolution  of  the
Partnership  for  tax  purposes under Section  708  of  the  Internal
Revenue Code.

As  of December 31, 1997, there were 1,154 holders and 13,787 Limited
Partnership units outstanding.

ITEM 6.   SELECTED FINANCIAL DATA

The   following  constitutes  a  summary  of  selected   consolidated
financial  data for the following periods (000's omitted  except  net
loss per Limited Partnership unit):

                         1997    1996     1995      1994     1993

Revenues                 $992    $1,341   $1,262    $1,231   $1,075

Net Income/(Loss)        $879    ($394)   ($594)    ($668)   ($1,036)
Net Income/(Loss) per
 Limited Partnership
 Unit                    $63     ($28)    ($43)     ($48)    ($74)
Total Assets             $4,219  $8,326   $8,386    $8,619   $8,829
Notes and Loans Payable  $3,503  $8,354   $8,102    $7,710   $7,291

(See ITEM 8 - FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA)

ITEM 7.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
          AND RESULTS OF OPERATIONS

Liquidity and Capital Resources

The  Partnership commenced operations on September 19, 1985 upon  the
sale  of  the  minimum  number  of Limited  Partnership  Units.   The
Partnership's  initial source of cash was from the  sale  of  Limited
Partnership  Units.  Through the offering of Units,  the  Partnership
has  raised  $6,893,500  (represented by 13,787  Limited  Partnership
Units).   Cash  generated from the sale of Limited Partnership  Units
has  been used to acquire land and for the development of a mixed use
commercial project and a 60% interest in a commercial office project.

During  the  twelve months ended December 31, 1997,  the  Partnership
sold  its  60%  joint venture interest in Capital Builders  Roseville
Venture.  The Partnership was also successful in refinancing Plaza de
Oro's Note Payable, which became due April 1, 1997.

The  Partnership's sale of its joint venture interest resulted  in  a
$1,127,913  non-cash  gain  and net cash proceeds  of  $14,380.   The
refinancing  of the Partnership's Note Payable also provided  initial
cash  proceeds amounting to $141,583 and subsequent draws of  $25,373
for  site  planning  performed on the Plaza de  Oro  pad.   The  cash
provided by the sale of the joint venture and the initial funding for
the refinancing was primarily used to reduce its accounts payable  by
$46,835, fund tenant and building improvements costs of $48,622,  and
pay loan fees of $83,275 for the Partnership's new financing.

It  is  anticipated  that approximately $28,000 in additional  tenant
improvements and leasing commissions will be incurred during 1998  in
order  to re-achieve Plaza de Oro's stabilized occupancy.  Management
also  anticipates it will begin development of the 9,860 square  foot
Phase  II  building during 1998.  The additional tenant  improvements
and  building  development costs will be funded by a  combination  of
cash flow from operations, operating funds to be provided by a third-
party  who would enter into a joint venture with the Partnership  for
Phase II, and additional borrowings.

The  Partnership's  ability  to  meet current  year  obligations  has
improved during 1997 as a result of the refinancing its current  Note
Payable as of April 1, 1997, and extending its land loan until  March
24,  1998.   The Partnership appears to be able to meet current  year
obligations, provided it is able to refinance its Phase II land  loan
and obtain additional lease-up of approximately 7,000 square feet.

It  is  Management's plan to actively market and attempt to  locate  a
potential  tenant  for the undeveloped 9,860 square foot  building  on
Plaza  de  Oro's  Phase  II  land.   Management  is  also  in  current
negotiations with a potential lender and joint venture equity  partner
to   paydown  the  existing  land  loan  and  finance  the  additional
construction costs.

Results of Operations

1997 vs 1996

The Partnership's total revenues decreased by $348,619 (26%) in fiscal
year  1997, as compared to fiscal year 1996, while expenses  decreased
by  $554,369 (30.5%) for the same respective period. In addition,  the
minority interest in net loss has decreased by $59,839 (72.4%) in 1997
compared to 1996, and in 1997 a gain from the disposition of the joint
venture  of $1,127,913 was incurred, all resulting in a net income  of
$879,714 for the fiscal year ended December 31, 1997 as compared to  a
loss of $394,110 for the fiscal year ended December 31, 1996.

The  decrease  in  revenues  is primarily  due  to  the  sale  of  the
Partnership's  joint  venture  interest  on  May  1,1997.   The   sale
decreased reported revenues by $428,895 since only four months of  the
joint  venture's  operations were included in  the  1997  Consolidated
Statement  of  Operations, where as the December  31,  1996  Statement
included  twelve  months  of  the  joint  venture's  operations.   The
Partnership's  remaining  property,  Plaza  de  Oro,  experienced   an
increase  in revenues of $80,275 for the twelve months ended  December
31,  1997, compared to December 31 1996, due to an increase in average
occupancy.

Total  expenses  decreased by $554,369 for  the  twelve  months  ended
December  31, 1997, as compared to December 31, 1996, due to the  sale
on  May  1,  1997  of  its 60% interest of Capital Builders  Roseville
Venture.   As  of  December  31,  1997, the  Statement  of  Operations
included  expenses  of $299,645 from its joint venture,  where  as  of
December  31,  1996, expenses of $878,135 from its joint venture  were
included.   The  Partnership's  remaining  property,  Plaza  de   Oro,
recognized  an increase in operating expenses of $24,127  from  fiscal
year  1997  compared  to 1996, primarily due to  the  recarpeting  and
painting of the office building's lobby and other common areas.

1996 vs 1995

The  Partnership's  total revenues increased  by  $79,074  (6.3%)  in
fiscal  year  1996  compared  to 1995, while  expenses  decreased  by
$199,855  (9.9%)  for the same respective period.  In  addition,  the
minority  interest  in net loss has decreased by $78,610  (48.8%)  in
1996  compared to 1995, all resulting in a decrease in  net  loss  of
$200,319 (33.7%) from fiscal year 1996 to 1995.

The  increase in revenues is due to an increase in occupancy at Plaza
de  Oro.   Throughout fiscal year 1996, management was successful  in
obtaining leases for the project's office building, and by the fourth
quarter,  had successfully leased the entire building.  This  brought
the  project up to a 98% occupancy.  The Sacramento market  in  which
the  property  is located is continuing to improve.  Vacancy  factors
are  beginning  to  decline,  while  market  rents  have  started  to
increase.

Total expenses, including depreciation, decreased by $199,855 for the
fiscal year 1996 compared to 1995 due primarily to the net effect of:

a)  $13,649 (5.5%) increase in operating expenses mainly  due  to  an
increase in utilities and marketing costs, which were a direct result
of new leasing activity at Plaza de Oro,
b)  $7,322  (8.1%) increase in property  taxes due to  a  tax  refund
received during 1995,
c)  $73,379 (9.0%) decrease in interest due to the reduction  of  the
interest  rate resulting from the refinancing of Capital Professional
Center,
d)  $12,836 (13.6%) increase in general and administrative costs  due
to an increase in legal and investor service costs, and
e)   $160,028  (25.6%)  decrease  in  depreciation  due   to   tenant
improvement  costs that were amortized during 1995 and  became  fully
amortized by the end of 1995.

ITEM 8.   FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA


                                                       Page Number

INDEPENDENT AUDITORS' REPORT                                     9

FINANCIAL STATEMENTS

     BALANCE SHEETS                                              10
     AS OF DECEMBER 31, 1997 AND 1996

     STATEMENTS OF OPERATIONS                                    11
     FOR THE YEARS ENDED
     DECEMBER 31, 1997, 1996, and 1995

     STATEMENTS OF PARTNERS'                                     12
     EQUITY (DEFICIT) FOR THE YEARS ENDED
     DECEMBER 31, 1997, 1996, and 1995

     STATEMENTS OF CASH FLOWS                                    13
     FOR THE YEARS ENDED
     DECEMBER 31, 1997, 1996, and 1995

     NOTES TO FINANCIAL STATEMENTS                            14-21

SUPPLEMENTAL SCHEDULES

     SCHEDULE III
     REAL ESTATE AND ACCUMULATED DEPRECIATION                    25


Financial  schedules not included have been omitted  because  of  the
absence  of  conditions under which they are required or because  the
information is included elsewhere in this report.
                     Independent Auditors' Report

The Partners
Capital Builders Development Properties:

We  have  audited the accompanying balance sheets of Capital Builders
Development  Properties,  a  California Limited  Partnership,  as  of
December 31, 1997 and 1996, and the related statements of operations,
partners'  equity (deficit) and cash flows for each of the  years  in
the  three-year  period ended December 31. 1997.  In connection  with
our  audits  of  the financial statements, we also have  audited  the
financial  statement  schedule as listed in the  accompanying  index.
These  financial statements and financial statement schedule are  the
responsibility of the partnership's management. Our responsibility is
to  express  an  opinion on these financial statements and  financial
statement schedule 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  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 financial position of  Capital
Builders Development Properties as of December 31, 1997 and 1996, and
the  results of their operations and their cash flows for each of the
years  in the three-year period ended December 31, 1997 in conformity
with  generally accepted accounting principles.  Also in our opinion,
the related financial statement schedule, when considered in relation
to  the basic financial statements taken as a whole, presents fairly,
in all material respects, the information set forth therein.

The  accompanying  financial statements have been  prepared  assuming
that  the partnership will continue as a going concern.  As discussed
in  Note  3  to the financial statements, the partnership's  negative
cash  flow  position and significant debt service  raise  substantial
doubt about its ability to continue as a going concern.  Management's
plans  in regard to these matters are also described in Note  3.  The
financial statements and financial statement schedule do not  include
any   adjustments  that  might  result  from  the  outcome  of   this
uncertainty.

Sacramento, California                       KPMG Peat Marwick LLP
February 4, 1998
PART 2 - FINANCIAL INFORMATION
<TABLE>
 Capital Builders Development Properties
    (a California Limited Partnership)

              BALANCE SHEETS
<CAPTION>
                                              December    December 31
                                                31
                                               1997          1996
<S>                                             <C>          <C>
ASSETS
Cash and Cash Equivalents                   $     2,310   $    49,335
Accounts receivable, net                        120,152       135,406
Investment property, net of
  accumulated depreciation and
  amortization of $1,227,226 and
  $2,107,769 at December 31, 1997
  and 1996, respectively                      3,947,695     7,252,601

Lease Commissions, net of accumulated
    amortization of $58,098 and $99,983 at
  December 31, 1997 and 1996, respectively       80,188       126,701

Other assets, net of accumulated
  'amortization of $17,382 and
  $91,673 at December 31, 1997 and
  1996, respectively                             68,984        66,404

Minority Interest                               - - - -       695,094

 Total Assets                                $4,219,329    $8,325,541

LIABILITIES AND PARTNERS' EQUITY/(DEFICIT)
Notes payable                               $ 3,503,398   $ 6,838,732
Loan payable to affiliate                           - -      1,514,788
                                                    - -
Accounts payable and accrued liabilities         88,257       160,718
Tenant deposits                                  51,989       115,332

 Total Liabilities                            3,643,644     8,629,570

Commitments and contingencies
Partners' Equity/(Deficit):
  General Partners
                                               (52,067)      (60,864)
  Limited Partners                              627,752
                                                            (243,165)
Total Partners' Equity/(Deficit)                575,685     (304,029)

Total Liabilities and Partners'              $4,219,329    $8,325,541
Equity/(Deficit)

   See accompanying notes to the financial
                               statements.


</TABLE>
<TABLE>
  Capital Builders Development
           Properties
     (a California Limited
          Partnership)

    STATEMENTS OF OPERATIONS
    YEARS ENDED DECEMBER 31,

<CAPTION>
                                    1997           1996         1995
<S>                                  <C>           <C>          <C>
Revenues
  Rental and other income        $   991,210    $ 1,339,355   $ 1,259,763
  Interest Income                        912         1,386        1,904

     Total revenues                  992,122     1,340,741    1,261,667

Expenses
  Operating expenses                 202,125       262,885      249,236
  Repairs & maintenance              130,654       140,846      141,104
  Property taxes                      71,632        97,548       90,226
  Interest                           472,622       744,438      817,817
  General and administrative          89,335       107,306       94,467
  Depreciation and amortization      296,759       464,473      624,501

     Total expenses                1,263,127     1,817,496    2,017,351

  Loss before minority interest    (271,005)     (476,755)    (755,684)

  Minority interest in net loss
of Joint Venture                      22,806        82,645      161,255

  Gain from disposition of Joint
Venture                            1,127,913       - - - -      - - - -

     Net income/(loss)               879,714     (394,110)    (594,429)

Allocated to General Partners          8,797       (3,941)      (5,944)

Allocated to Limited Partners    $   870,917   $  (390,169)  $  (588,485)

   Net income/(loss) per Limited
Partnership unit                 $     63.17   $    (28.30)  $    (42.68)

Average units outstanding             13,787        13,787       13,787

   See accompanying notes to the
           financial statements.
</TABLE>
<TABLE>
               CAPITAL BUILDERS DEVELOPMENT PROPERTIES,
                   a California Limited Partnership

               STATEMENTS OF PARTNERS' EQUITY (DEFICIT)
             YEARS ENDED DECEMBER 31, 1997, 1996 AND 1995

<CAPTION>
                                                                   Total
                                      General      Limited     Partners'
                                     Partners     Partners        Equity
                                                               (Deficit)

<S>                                       <C>          <C>           <C>
  Balance at December 31, 1994      ($50,979)     $735,489      $684,510

      Net Loss                        (5,944)    (588,485)     (594,429)

  Balance at December 31, 1995       (56,923)      147,004        90,081

      Net loss                        (3,941)    (390,169)     (394,110)

  Balance at December 31, 1996       (60,864)    (243,165)     (304,029)

      Net income                        8,797      870,917       879,714

  Balance at December 31, 1997      $(52,067)     $627,752      $575,685

  See accompanying notes to the financial statements.
</TABLE>
<TABLE>

  Capital Builders Development
           Properties
     (a California Limited
          Partnership)

    STATEMENTS OF CASH FLOWS
    YEARS ENDED DECEMBER 31,

<CAPTION>
                                     1997          1996         1995
<S>                                  <C>           <C>           <C>
Cash flows from operating
                     activities:
  Net income/(loss)                 $879,714    ($394,110)   ($594,429)
    Adjustments to reconcile net
      income (loss) to cash flow
    flow (used in) provided by
           operating activities:
  Depreciation and amortization      296,759       464,473      624,501
  Minority interest in joint
  venture                           (22,806)      (82,645)    (161,255)
  Gain from disposition of joint
  venture investment             (1,127,913)       - - - -      - - - -
  Unpaid interest expense on
  loan payable                        55,347        58,702      115,684
  Changes in assets and
                    liabilities:
    (Increase)/ Decrease in
    accounts receivable             (19,494)         3,015       57,552
    Increase in leasing
    commissions                     (36,346)      (79,663)     (18,378)
    Increase in other assets           (757)       (3,409)     (72,650)
    (Decrease)/ Increase in
            accounts payable and
    accrued liabilities             (12,259)        41,876     (33,264)
    (Decrease )/Increase in
    tenant deposits                 (11,801)         6,487        2,536

  Net cash (used in)/provided by
       operating activities              444        14,726     (79,703)

       Cash flows from investing
                     activities:
  Improvements to investment
  properties                        (83,197)     (123,815)     (74,760)
  Proceeds from sale of
  partnership investment              14,380       - - - -      - - - -

Net cash used in investing
activities                          (68,817)     (123,815)     (74,760)

       Cash flows from financing
                     activities:
  Proceeds on notes payable        3,530,000        39,954      204,831
  Payments on notes payable      (3,425,377)      (72,449)     (33,468)
  Payment of loan fees              (83,275)       - - - -      - - - -
  Proceeds on loans payable
  to affiliate                       - - - -       225,000      105,000
  Distribution to minority
  interest                           - - - -     (124,480)     (36,400)

Net cash provided by financing
activites                             21,348        68,025      239,963

Net (decrease)/increase in cash     (47,025)      (41,064)       85,500

Cash, beginning of period             49,335        90,399        4,899

Cash, end of period                   $2,310       $49,335      $90,399

Supplemental disclosure:
  Cash paid for interest            $391,634      $685,739     $703,741

Non cash investing and financing
                       activity:
  Capital improvements financed
    through accounts payable and
  accrued liabilities                - - - -       $34,576      - - - -


   See accompanying notes to the
           financial statements.


                Capital Builders Development Properties
                  (A California Limited Partnership)


                     NOTES TO FINANCIAL STATEMENTS
                   December 31, 1997, 1996, AND 1995


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND
         ORGANIZATION

A  summary  of  the significant accounting policies  applied  in  the
preparation of the accompanying financial statements follows:

Basis of Accounting
The  financial statements of Capital Builders Development  Properties
(The  "Partnership") are prepared on the accrual basis and  therefore
revenue is recorded as earned and costs and expenses are recorded  as
incurred.   Certain  prior  year amounts have  been  reclassified  to
conform to current year classifications.

Principles of Presentation
The  1996 and 1995 financial statements include the accounts  of  the
company  and  its  majority-owned subsidiary (60%), Capital  Builders
Roseville Venture.  In May 1997 the Partnership sold its 60% interest
in  Capital  Builders  Roseville Venture to  its  affiliate,  Capital
Builders  Development  Properties II.  Capital  Builders  Development
Properties  II, a California Limited Partnership, is an affiliate  of
the  Partnership  as  they  have the same  General  Partner,  Capital
Builders, Inc.  The financial statements represent financial activity
on  a  consolidated  basis until the time of the disposition  of  the
majority-owned subsidiary.  All significant intercompany accounts and
transactions  have been eliminated.  The General Partner  of  Capital
Builders  Development  Properties, Capital  Builders,  Inc.,  has  no
direct  ownership interest in the joint venture, and did not  receive
any  compensation  for the sale of the subsidiary  (See  Note  2  for
further discussion).

Organization
Capital   Builders  Development  Properties,  a  California   Limited
Partnership, is owned under the laws of the State of California.  The
Managing  General  Partner is Capital Builders,  Inc.,  a  California
corporation (CB).

The Partnership is in the business of real estate development and  is
not   a  significant  factor  in  its  industry.   The  Partnership's
investment  properties  are  located  near  major  urban  areas  and,
accordingly,  compete  not  only with  similar  properties  in  their
immediate areas but with hundreds of properties throughout the  urban
areas.   Such  competition is primarily on the  basis  of  locations,
rents, services and amenities.  In addition, the Partnership competes
with  significant numbers of individuals or organizations  (including
similar  companies,  real  estate  investment  trusts  and  financial
institutions)  with  respect  to  the  purchase  and  sale  of  land,
primarily on the basis of the prices and terms of such transactions.

Investment Properties
Long-lived  assets and certain identifiable intangibles are  reviewed
for  impairment whenever events or changes in circumstances  indicate
that  the  carrying  amount  of  an asset  may  not  be  recoverable.
Recoverability  of  assets  to be held and  used  is  measured  by  a
comparison  of  the carrying amount of an asset to  future  net  cash
flows  expected  to be generated by the asset.  If  such  assets  are
considered  to  be  impaired,  the impairment  to  be  recognized  is
measured  by  the amount by which the carrying amount of  the  assets
exceed  the fair value of the assets.  Assets to be disposed  of  are
reported at the lower of the carrying amount or fair value less costs
to sell.

The  Partnership's investment property consists of  commercial  land,
buildings  and  leasehold  improvements  that  are  carried  net   of
accumulated  depreciation.  Depreciation is provided for  in  amounts
sufficient  to  relate the cost of depreciable assets  to  operations
over  their  estimated service lives of three to  forty  years.   The
straight-line  method  of  depreciation  is  followed  for  financial
reporting purposes.

Lease Commissions

Lease commissions are being amortized over the related lease terms.

Income Taxes

The Partnership does not provide for income taxes since all income or
losses  are  reported  separately on  the  individual  partners'  tax
returns.

Revenue Recognition

Rental income is recognized on a straight-line basis over the life of
the lease, which may differ from the scheduled rental payments.

Net Income/(Loss) per Limited Partnership Unit

The  net income/(loss) per Limited Partnership unit is computed based
on  the weighted average number of units outstanding during the  year
of 13,787 in 1997, 1996, and 1995.

Statement of Cash Flows

For  purposes  of statement of cash flows, the Partnership  considers
all  short-term investments with a maturity, at date of purchase,  of
three months or less to be cash equivalents.

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 reported  amounts  of  assets  and
liabilities  and disclosure of contingent assets and  liabilities  at
the  date  of  the financial statements and the reported  amounts  of
revenues  and  expenses during the reporting period.  Actual  results
could differ from those estimates.

NOTE 2 - CHANGES IN OPERATIONS AND UNUSUAL ITEMS

In  May  1997,  the  Partnership sold its  60%  interest  in  Capital
Builders   Roseville  Venture  to  its  affiliate,  Capital  Builders
Development  Properties  II.   The  sale  was  completed   after   an
independent property valuation of the joint venture property, Capital
Professional  Center.  The sale resulted in a net gain of  $1,127,913
($81.81  per  limited  partnership unit) and  net  cash  proceeds  of
$14,380.   As  of December 31, 1997, the Partnership's  Statement  of
Operations  included  a  net loss of $57,015  from  Capital  Builders
Roseville  Venture, of which $22,806 was allocated  to  its  minority
partner.   The  transaction did not generate any  sales  commissions,
transaction  fees, changes in management compensation  or  any  other
direct or indirect benefit to the General Partner.

NOTE 3 - LIQUIDITY

During  the second quarter of 1997, Management was successful in  its
plan  to  refinance  Plaza de Oro's current Note  Payable.   The  new
financing consists of a $3,350,000, five year, mini-permanent,  9.25%
fixed  interest rate loan, secured by Phase I (existing building  and
improvements), and a $200,000, six month, prime +1.5%  variable  land
loan  secured  by  Phase II (undeveloped pad).   The  land  loan  was
reduced  to  $180,000 and granted an additional six-month  extension,
extending its maturity date to March 24, 1998.

The  new  lower  interest rate loans will improve  the  Partnership's
ability  to  generate future cash flow, but future  cash  flow  still
remains  dependent  upon  its ability to  maintain  and  improve  the
occupancy  of its investment properties.  Additionally,  it  will  be
necessary  for  the  Partnership's Management to  either  extend  its
current  land loan, and/or obtain a joint venture partner to  develop
the  Phase II pad.  Management is currently negotiating with  various
joint venture partners, and hopes to reach an agreement by May,  1998
and begin Phase II development.

NOTE 4 - RELATED PARTY EXPENSE REIMBURSEMENT AND FEE ARRANGEMENT

The  Managing  General  Partner  (Capital  Builders,  Inc.)  and  the
Associate General Partners are entitled to reimbursement of  expenses
incurred  on  behalf  of the Partnership and certain  fees  from  the
Partnership.  These fees include: a property management fee up to  6%
of  gross  revenues realized by the Partnership with respect  to  its
properties; a subordinated real estate commission of up to 3% of  the
gross sales price of the properties; and a subordinated 25% share  of
the  Partnership's distributions of cash from sales  or  refinancing.
The  property management fee currently being charged is 5%  of  gross
rental revenues collected.

All  acquisition fees and expenses, all underwriting commissions, and
all  offering  and  organizational expenses which  can  be  paid  are
limited to 20% of the gross proceeds from sales of Partnership  units
provided   the  Partnership  incurs  no  borrowing  to  develop   its
properties.  However, these fees may increase to a maximum of 33%  of
the  gross  offering  proceeds based upon the total  acquisition  and
development costs, including borrowing.  Since the formation  of  the
Partnership,  27.5%  of  these fees were paid  to  the  Partnership's
related  parties, leaving a remaining maximum of 5.5%  ($379,143)  of
the gross offering proceeds.  The ultimate amount of these costs will
be determined once the properties are fully developed and leveraged.

The  total management fees paid to the Managing General Partner  were
$47,380,  $62,154 and $60,897 for the years ended December 31,  1997,
1996,  and 1995, respectively, while total reimbursement of  expenses
was $97,416, $114,512 and $102,669, respectively.

NOTE 5 - INVESTMENT PROPERTIES

The components of the investment property account at December 31, are
as follows:
                                         1997         1996
Land                               $1,353,177     $2,423,706
Building and Improvements           3,287,832      5,802,208
Tenant Improvements                   533,912      1,134,456
Investment properties, at cost      5,174,921      9,360,370

Less: accumulated depreciation
        and amortization          (1,227,226)    (2,107,769)

     Investment property, net      $3,947,695     $7,252,601


NOTE 6 - LOAN PAYABLE TO AFFILIATE
The  loan  payable represents funds advanced to the  Roseville  Joint
Venture  from Capital Builders Development Properties II,  a  related
Partnership which has the same General Partner.  The loan was settled
in  conjunction  with the sale of the 60% interest of  the  Roseville
joint venture.  The loan bore interest at approximately the same rate
charged to it by a bank for other borrowings, which was 8.95% at  the
time of sale of the joint venture, May 1, 1997 and December 31, 1996.
Interest  expense  incurred  on the loan was  $55,347,  $111,362  and
$115,683 in 1997, 1996, and 1995, respectively.

NOTE 7 - NOTES PAYABLE

Notes Payable consist of the following at December 31,:

                                                1997           1996
Construction loan with a variable interest
rate  based on the bank commercial lending
rate  (7.5% as of April 1, 1997) plus 2.5%
was   refinanced  in  1997  with  a  mini-
permanent loan with a fixed interest  rate
of  9.25%, requiring monthly principal and
interest  payments  of $28,689,  which  is
sufficient  to amortize the loan  over  25
years.   The  loan is due April  1,  2002.
The note is collateralized by a First Deed
of   Trust  on  the  land,  buildings  and
improvements, and is guaranteed by the
General Partner.                             $3,323,398   $3,383,141

Mini-permanent  loan  on   joint   venture
property  with  a fixed interest  rate  of
8.24% and requiring monthly principal  and
interest  payments  of $27,541,  which  is
sufficient  to amortize the loan  over  25
years.   The loan is due January 1,  2001.
The note is collateralized by a first deed
of trust on the land, buildings and
improvements (See Note 2).                   - - - - -     3,455,591

Land/Construction  loan  of  $180,000  due
March,  24, 1998.  The note bears interest
at  bank  prime rate plus 1.5%  (10.0%  at
December  31, 1997 with a 9% floor).   The
note   is   secured  by  Plaza  de   Oro's
separately parceled Phase II land and is
guaranteed by the General Partner.              180,000    - - - - -

Total Notes Payable                          $3,503,398   $6,838,732

Scheduled principal payments during 1998, 1999, 2000, 2001, and  2002
are    $218,454,   $42,166,   $46,236,   $50,699,   and   $3,145,843,
respectively.

NOTE 8 - LEASES

The  Partnership leases its properties under long-term  noncancelable
operating  leases  to  various tenants.  The  facilities  are  leased
through  agreements  for  rents based on the square  footage  leased.
Minimum annual base rental payments under these leases for the  years
ending December 31 are as follows:

                    1998                       $582,094
                    1999                        518,136
                    2000                        475,095
                    2001                        259,794
                    2002                        104,178
                    Total                    $1,939,297

NOTE 9 - RECONCILIATION TO INCOME TAX METHOD OF ACCOUNTING

A  reconciliation of the financial statement method of accounting  to
the  Federal  income  tax method of accounting for  the  years  ended
December 31 are as follows:

                                         1997         1996          1995

Net income/(loss) - financial        $879,714   ($394,110)    ($594,429)

Adjustments
  resulting from:
  Book to tax difference in
  depreciation and amortization     (413,552)      114,923       265,630

  Net income/(loss) - tax method      466,162    (279,187)     (328,799)

Partners' equity - financial         $575,685   ($304,029)       $90,081

Increases
  resulting from:
  Book to tax difference in
  depreciation and amortization
  and valuation allowance           1,767,731    2,181,286     2,066,363
  Selling expenses for
  Partnership units                 1,012,108    1,012,108     1,012,108

  Partners' equity - tax           $3,355,524   $2,889,365    $3,168,552

Taxable income/(loss) per Limited
  Partnership unit after
  giving effect to the
  taxable loss allocated to
  the General Partner                  $33.47     ($20.05)      ($23.61)



NOTE 10 - FAIR VALUE OF FINANCIAL INSTRUMENTS

The following methods and assumptions were used by the Partnership in
estimating it's fair value disclosures for financial instruments.

     Cash and cash equivalents
     The  carrying  amount  approximates fair value  because  of  the
     liquid nature of the instrument.

     Note payable
     The  fair  value of the Partnership's note payable is  estimated
     based on the quoted market prices for the same or similar issues
     or  on the current rates offered to the Partnership for debt  of
     the same remaining maturities.

The  estimated fair values of the Partnership's financial instruments
as of December 31, are as follows:

                                      1997                1996
                             Carrying    Estimated   Carrying   Estimated
                               Amount   Fair Value     Amount  Fair Value

Assets
Cash and cash equivalents      $2,310       $2,310    $49,335     $49,335

Liabilities
Loan payable to affiliate       - - -        - - - $1,514,788         (A)
Note payable              $3,323,398    $3,323,398 $3,383,141  $3,383,141
Note payable                 $180,000     $180,000 $3,455,591  $3,455,591

(A)  It  is not practicable to determine the fair value of  the  loan
payable  to  affiliate  due  to  the  related  party  nature  of  the
arrangement.

NOTE 11 - COMMITMENTS AND CONTINGENCIES

The  Partnership is involved in litigation primarily  arising  in  the
normal  course  of  its business.  In the opinion of  management,  the
Partnership's  recovery  or  liability,  if  any,  under  any  pending
litigation  would  not  materially affect its financial  condition  or
operations.

NOTE 12 - PROSPECTIVE ACCOUNTING PRONOUNCEMENTS

Reporting Comprehensive Income

In  June 1997, the Financial Accounting Standards Board (FASB)  issued
Statement  of Financial Accounting Standards (SFAS) No. 130, Reporting
Comprehensive  Income.   SFAS No. 130 is  effective  for  interim  and
annual  periods beginning after December 15, 1997 and is to be applied
retroactively  to  all periods presented.  SFAS  No.  130  establishes
standards  for reporting and display of comprehensive income  and  its
components in a full set of general purpose financial statements.   It
does  not, however, specify when to recognize or how to measure  items
that make up comprehensive income.  SFAS No. 130 was issued to address
concerns  over  the  practice of reporting elements  of  comprehensive
income directly in equity.  This Statement requires all items that are
required to be recognized under accounting standards as components  of
comprehensive  income  be reported in a financial  statement  that  is
displayed in equal prominence with the other financial statements.  It
does  not  require a specific format for that financial statement  but
requires  that  an  enterprise display an  amount  representing  total
comprehensive  income  for  the period in  that  financial  statement.
Enterprises  are  required to classify items of  "other  comprehensive
income"  by  their nature in the financial statement and  display  the
balance of other comprehensive income separately in the equity section
of  a  statement of financial position.  It does not require per share
amounts of comprehensive income to be disclosed.  Management does  not
expect  that adoption of SFAS No. 130 will have a material  impact  on
the Partnership's financial statements.

Financial Reporting for Segments of a Business Enterprise

In  June 1997, FASB issued SFAS No. 131, Disclosures about Segments of
an  Enterprise and Related Information.  SFAS No. 131 is effective for
interim and annual periods beginning after December 15, 1997 and is to
be  applied  retroactively to all periods  presented.   SFAS  No.  131
establishes standards for the way public business enterprises  are  to
report  information  about  operating  segments  in  annual  financial
statements   and   requires  those  enterprises  to  report   selected
information  about  operating segments in  interim  financial  reports
issued  to  shareholders.  It also establishes standards  for  related
disclosures about products and services, geographic areas,  and  major
customers.   SFAS No. 131 supersedes SFAS No. 14, Financial  Reporting
for Segments of a Business Enterprise, but retains the requirement  to
report  information about major customers.  Management does not expect
that  adoption  of  SFAS No. 131 will have a material  impact  on  the
Partnership's financial statements.


                               PART III

ITEM 9.   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS AND FINANCIAL
          DISCLOSURE

NONE

ITEM 10.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

The  Partnership  has no directors.  The Partnership  is  managed  by
Capital  Builders,  Inc. ("CB"), the Managing General  Partner.   The
following  are  the  names  and  other information  relating  to  the
Managing  General Partner.  No expiration date has been set  for  the
term during which the Managing General Partner is to serve.

MANAGING GENERAL PARTNER

The Partnership is being managed by CB, the Managing General Partner.
CB  is  a  California  corporation organized in May  1978,  with  its
executive offices at 4700 Roseville Road, Suite 206, North Highlands,
California 95660 [telephone number (916) 331-8080].  To date, CB  has
organized  ten  Partnerships  to engage  in  commercial  real  estate
development.   As  the  General Partner, CB may  be  responsible  for
certain  liabilities that a Partnership it manages is unable to  pay.
In  addition,  CB, in the normal course of business,  has  guaranteed
certain debt obligations of the Partnerships it sponsored aggregating
$3,323,398.

The officers, directors, and key personnel of CB are as follows:

    Name                               Office
    Michael J. Metzger                 President and Director
    Mark Leggio                        Director
    Ellen Wilcox                       Director

Michael  J.  Metzger:   Mr. Metzger is responsible  for  the  general
management  of  CB.   Mr.  Metzger  assumed  responsibility  for  the
management  of  CB in December 1986.  He was formerly  the  Executive
Vice-President  of The Elder-Nelson Company (EN) and its  subsidiary,
the  Elder-Nelson Equities Corporation - affiliated  companies  which
provided  underwriting and administrative services to CB.   Prior  to
joining  EN in 1977, Mr. Metzger was Partner/General Manager for  two
years  in  his  family's  real  estate contracting,  development  and
syndication  business.   Mr.  Metzger has  also  had  five  years  of
experience in manufacturing management, and served as an Army Officer
for  four  years.   Mr. Metzger holds a B.S. degree in  Business  and
Industrial  Management as well as licenses in Real Estate, Securities
and Insurance.

Ellen  Wilcox:  Ellen Wilcox is the Owner/Manager of Wilcox  Financial
Services,  a Registered Investment Advisor in San Carlos CA.   She  is
licensed  in  General Securities and Insurance through  Linsco/Private
Ledger,  an  NASD Registered Broker/Dealer.  As an Investment  Advisor
and  Broker,  Ms. Wilcox provides a full range of investment  products
and  services to individuals and small business owners.  She has  been
actively  providing  such  services since 1986.   Ms.  Wilcox  teaches
classes on retirement planning, investment strategies, and basic money
management.  She is a popular speaker and lecturer on financial topics
and  has  authored many published articles and has appeared on several
radio shows.

Mark J. Leggio:  Mark Leggio is the Owner of Mark J. Leggio, CPA.   He
provides tax accounting and business consultation services to  a  wide
variety  of  small and mid-size businesses.  In addition,  he  is  the
founding  shareholder  and chief financial  officer  of  Green  Planet
Juicery, Inc., located in the Sacramento area.  From 1978 to  1995  he
worked  for  KPMG Peat Marwick and was a partner when  he  left.   Mr.
Leggio  holds  a  Bachelor of Science degree in  Accounting  from  the
University of Southern California, where he graduated cum laude.


ITEM 11.  EXECUTIVE COMPENSATION

The  Partnership  does  not  have  any  officers  or  employees  and,
therefore,   does  not  pay  compensation  to  such   persons.    The
Partnership's  business is conducted by the Managing General  Partner
which  is  entitled under Article IV of the Partnership Agreement  to
receive   underwriting   commission,   acquisition   fees,   property
management  fees,  subordinated  real  estate  commission,  share  of
distribution  and  an  interest  in the  Partnership.   The  Managing
General  Partner's fees totaled $47,380 in 1997, consisting  entirely
of  property  management fees which are calculated  as  5%  of  gross
rental revenues collected.

In  addition  to  the  fees described above, the General  Partner  is
entitled  to  reimbursement for out of pocket  expenses  incurred  on
behalf of the Partnership.  Such expenses aggregated $97,416 in 1997.

ITEM 12. SECURITY   OWNERSHIP  OF  CERTAIN  BENEFICIAL   OWNERS   AND
           MANAGEMENT

The  Managing  General Partner contributed $1,000 to the  Partnership
Capital  accounts,  however, no securities  were  issued  in  respect
thereof.   No  person is known to the Partnership to own beneficially
more than 5% of the units.

ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

The Partnership agreement (see Part IV, Item 14(a)(4) Exhibits) which
was executed in 1985, authorized the compensation set forth below  to
be  paid  to  the Managing General Partner and to affiliates  of  the
Managing General Partner.

During  the year ended December 31, 1997 the Managing General Partner
and/or   its   affiliate  received  $97,416  for   reimbursement   of
administrative  services  and  $47,380 for  property  management  and
administrative fees.

                                PART IV

ITEM 14.  EXHIBITS FINANCIAL STATEMENT SCHEDULES, AND REPORTS ON FORM
          8-K

EXHIBIT NUMBER  EXHIBIT

(a)              1,2  See  Item 8 of this Form 10-K for the Financial
               Statements  of  the  Partnership, Notes  thereto,  and
               Supplementary  Schedules.   An  Index   to   Financial
               Statements  and Schedules is included and incorporated
               herein by reference.

                 4    Limited Partnership Agreement dated May 1, 1985
               filed  as exhibit 3.3 and the Amendment to the Limited
               Partnership  Agreement dated November 20,  1986  filed
               as  exhibit 3.4 to Registration Statement No.  2-96042
               of   Capital   Builders  Development   Properties,   A
               California    Limited    Partnership    are     hereby
               incorporated by reference.

                 11   Statement  regarding computation  of  per  unit
               earnings  is not included because the computation  can
               be  clearly determined from the material contained  in
               this report.

(b)            Reports on Form 8-K

               The Partnership filed an 8-K dated November 11, 1992.


  SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange  Act of 1934, the registrant has duly caused this report  to
be   signed  on  its  behalf  by  the  undersigned,  thereunto   duly
authorized.

     Capital Builders Development Properties and Subsidiary
     A California Limited Partnership

     By CAPITAL BUILDERS, INC.,
     The Managing General Partner,
     For and On Behalf of the
     Capital Builders Development Properties
     A California Limited Partnership



Michael J. Metzger, President           Date

Pursuant to the requirements of the Securities Exchange Act of  1934,
this  report has been signed below by the following persons on behalf
of the registrant and in the capacities and on the date indicated.

    Signature                   Title                   Date


____________________     Associate General
Michael J. Metzger       Partner; President and
                         Director of Capital
                         Builders, Inc. ("CB")

____________________     Chief Financial
Kenneth L. Buckler       Officer of CB



SUPPLEMENTAL  INFORMATION TO BE FURNISHED WITH  REPORTS  PURSUANT  TO
SECTION  15(d)  OF THE ACT BY REGISTRANTS WHICH HAVE  NOT  REGISTERED
SECURITIES PURSUANT TO SECTION 12 OF THE ACT.

The Partnership has not sent an annual report or proxy statements  to
the Limited Partners and does not intend to send a proxy statement to
the Limited Partners.  The Partnership will send the Limited Partners
an  annual report and will furnish the Commission with copies of  the
annual report on or before April 30, 1998.





</TABLE>
<TABLE>
  Capital
  Builders
Development
 Properties
A California
  Limited
Partnership
    and
 Subsidiary
<CAPTION>
SCHEDULE III
   - REAL
 ESTATE AND
ACCUMULATED
DEPRECIATION
  12/31/97

  Column A    Column B    Column C   Column D         Column E
    <S>          <C>         <C>        <C>        <C>         <C>        <C>        <C>
                                       Cost
                                    Captialize
                                         d
Description  Encumbranc    Initial  Subsequent  Gross Carrying Amount
             es             Cost        to           at End of Period
                                    Acquistion

                                                Carrying               Buildings
                                                                           &
                          Land (1)  Improvemen    Costs       Land    Improvemen  Total(1)
                                         ts(1)                            ts
Commercial
Office Bldg.
  Rancho      $3,503,398 $1,143,165 $4,012,274     $19,482 $1,353,177 $3,821,744  $5,174,921
Cordova


                                                            Column E
                                                              Total

                                                                 1995       1996        1997

Balance at                                                 $9,974,524 $9,582,274  $9,360,370
beginning of
period

Additions
                                                               74,760    158,391      48,621

     Sale of
     Capital                                                        -          -  (4,172,587
Professional                                                                               )
      Center

Deletions
(2)                                                         (467,010)  (380,295)    (61,483)

Balance at                                                 $9,582,274 $9,360,370  $5,174,921
end of
period





  Column A                Column F   Column G   Column H    Column I
    <S>                      <C>        <C>        <C>         <C>
                         Accumulate   Date of     Date     Depreciati
                              d                                on
Description              Depreciati Constructi  Acquired      Life
                             on         on



Commercial                                                 40 Years
Office Bldg.                                               (Bldg)
  Rancho                 $1,227,226       1987        1985 Life of
Cordova                                                    Lease
                                                          (Tenant
                                                          Imp.)


                                     Column F
                                       Total

                                          1995        1996       1997

Balance at                          $2,029,925  $2,097,079 $2,107,769
beginning of
period

Additions
                                       534,164     390,985    189,977

     Sale of
     Capital                                 -           - (1,009,122
Professional                                                        )
      Center

Deletions
(2)                                  (467,010)   (380,295)   (61,483)

Balance at                          $2,097,079  $2,107,769 $1,227,141
end of
period




1) Valuation
   allowance
for possible
  investment
     loss of
 $742,000 at
December 31,
        1995
         was
     charged
 against the
  cost basis
 of the land
and building
         and
improvements
    on a pro
  rata basis
          in
  accordance
    with the
  provisions
 of SFAS No.
   121 which
 was adopted
  on January
    1, 1996.

2) Deletions
   represent
  the write-
off of fully
   amortized
      tenant
 improvement
      costs.


</TABLE>