28
                              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, 1999                                    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.)

1130 Iron Point Road, Suite 170, Folsom, California 95630
(Address of principal executive offices)               Zip Code

Registrant's telephone number, including area code:  (916) 353-0500

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, 1999 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 a commercial retail building for lease and
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.

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 a 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  on
which  a  9,424 square foot building is currently under construction.
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                                 18,364

     Leased Occupancy at
       December 31:   1999                          87%
                      1998                          60%
                      1997                          81%
                      1996                          98%
                      1995                          92%

     Current Year Depreciation:                 $66,175

     Method of Depreciation:              Straight Line

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

     Total cost:                             $5,984,985

     Encumbrances:                           $4,199,057

     Tenant occupying more than
     10% of square footage and nature
     of business:                                  None


The  Partnership's property was listed for sale on July 1, 1999,  and
since that date there has been no depreciation taken on its buildings
or improvements.

The  Partnership's property is held subject to encumbrances which are
more  fully  described  under Note 6 to 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 three years 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, 1999, there were 1,137 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):

                         1999    1998     1997      1996     1995

Revenues                 $570    $622     $992      $1,341   $1,262

Net (Loss) Income        ($259)  ($390)   $879      ($394)   ($594)
Net (Loss) Income per
 Limited Partnership
 Unit                    ($19)   ($28)    $63       ($28)    ($43)
Total Assets             4,764   $3,901   $4,219    $8,326   $8,386
Notes and Loans Payable  4,303   $3,599   $3,503    $8,354   $8,102

(See ITEM 8 - FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA)



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

Year 2000 Issue

The  Partnership  experienced  no Year  2000  issues  that  materially
effected the Partnership's operations.

On  December 3, 1999, the Securities Exchange Commission staff  issued
Staff  Accounting Bulletin No. 101, Revenue Recognition  in  Financial
Statements (SAB 101).  SAB 101 summarizes certain of the staff's views
in  applying  generally  accepted  accounting  principles  to  revenue
recognition  in  financial statements.  SAB  101  is  required  to  be
adopted  no later than the first quarter of the fiscal year  beginning
after December 15, 1999.  Management believes that the adoption of SAB
101 will not have a material impact on the financial statements.

In June 1998, the FASB issued SFAS No. 133, Accounting for Derivative
Instruments  and  Hedging Activities.  SFAS No.  133  as  amended  is
effective  for  all fiscal quarters of fiscal years  beginning  after
June 15, 2000.  Management believes that the adoption of SFAS No. 133
will  not have a material impact on the financial statements  due  to
the  Partnership's inability to invest in such instruments as  stated
in the Partnership agreement.

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, 1999, cash increased  by
$6,473.  This was the result of net cash provided by financing in  the
amount  of  $653,240,  which was offset by  negative  cash  flow  from
operations  of $127,649, net cash used for Phase I tenant improvements
($88,292)  and  net  cash  used  for Phase  II  building  improvements
($430,826).

The  negative cash flow from operations is primarily the result of the
project's  vacant space and the leasing commissions  paid  during  the
second and third quarters to lease up a portion of its vacant space.

In  order  to  temporarily solve the Partnership's cash flow  problem,
Management  obtained  a  10 month, $150,000 interim  loan  during  the
second quarter 1999.  This loan has allowed the Partnership to pay for
Phase I lease-up costs and 1999 operating deficits.

During the twelve months ended 1999, Management was successful in  re-
leasing  14,621  square feet of office space,  7,020  square  feet  of
industrial space, and 6,424 square feet of the pad building, which  is
currently under construction.  This lease up will continue to decrease
future  net losses from operations, but it is still necessary for  the
property to continue to lease up in order for the Partnership to  meet
its current obligations.

During the third quarter of 1999, Management began the development  of
the  remaining  pad  with a 9,424 square foot office/retail  building.
Lease  terms for this building were finalized with a tenant  requiring
approximately   6,424  square  feet.   Construction   loans   totaling
$1,313,000 have also been obtained during the third quarter  of  1999.
The  initial  proceeds  from these loans were  used  to  pay  off  the
$290,000 Phase II land loan and paid the initial development costs  of
the  Phase  II  building.   There have been approximately  $50,000  in
identified cost increases in Phase II, which necessitates an  increase
in  construction  loan proceeds.  Management is currently  negotiating
with  lenders to provide the necessary funds to cover these additional
costs.

Plaza  de Oro's Phase I and Phase II were listed for sale on  July  1,
1999 with an independent brokerage firm.  The project's current asking
price  less  costs to sell is in excess of the carrying value  of  the
property and the Partnership's current obligations.  Presently,  there
are no pending offers or identified buyers; therefore, the final sales
prices  cannot  be determined at this time.  At this time,  Management
has not finalized a plan for the use of the proceeds from the sale  of
the property.

Results of Operations

1999 vs 1998
During  the  twelve  months ended December 31,  1999  as  compared  to
December  31,  1998,  the Partnership's total  revenues  decreased  by
$52,646 (8.5%), while its expenses decreased by $183,944 (18.2%),  all
resulting in a decrease in net loss of $131,298.

The  decrease  in revenues is primarily due to one of Plaza  de  Oro's
major  office  tenants, who had occupied 12,052  square  feet,  filing
Chapter 11 Bankruptcy during the fourth quarter of 1998.

Total expenses decreased for the twelve months ended December 31, 1999
as compared to December 31, 1998, due to the net effect of:
a)  $10,837  (7.2%)  decrease  in  operating  expenses  due  to  lower
management fees and utility costs associated with vacant space  during
1999;
b)  $14,434 (18.9%) increase in repairs and maintenance due  to  funds
expended to improve the property's appearance for its potential sale;
c)  $10,796  (3.2%) increase in interest costs due to  the  additional
funds borrowed for operating deficits;
d)  $5,342 (5.7%) decrease in General and Administrative due  to  cost
saving measures; and
e)   $192,733   (65.4%)  decrease  in  depreciation  and  amortization
primarily due to depreciation no longer being taken subsequent to  the
second   quarter  1999,  as  the  Partnership's  property   has   been
reclassified  as a long lived asset to be disposed of.   Additionally,
fewer  tenant  improvements were in place during 1999 as  compared  to
1998.

1998 vs 1997
The Partnership's total revenues decreased by $369,917 (37.3%) for the
twelve  months  ended December 31, 1998 as compared  to  December  31,
1997,  while expenses also decreased by $250,627 (19.8%) for the  same
respective  period.  In addition, the minority interest  in  net  loss
decreased  by $22,806 (100%) in 1998 compared to 1997, and a  gain  of
$1,127,913 was recognized during the twelve months ended December  31,
1997  from  the  sale  of  its 60% interest in  the  Capital  Builders
Roseville  Venture,  all  resulting in a decrease  in  net  income  of
$1,270,009 (144.4%) for the twelve months ended December 31,  1998  as
compared to December 31, 1997.

The  decrease  in  revenues  is  due primarily  to  the  sale  of  the
Partnership's  joint  venture interest  on  May  1,  1997.   The  sale
decreased  reported  revenues by $242,630  since  the  Partnership  no
longer  owns  60% of the Roseville Joint Venture (Capital Professional
Center), as it did during the twelve months ended December 31, 1997.

The  Partnership's  remaining property, Plaza de  Oro,  experienced  a
decrease  in revenue of $127,288 due to a large decrease in  occupancy
amounting  to  a decrease in rental income of $91,288.   Additionally,
the  Partnership recognized $36,000 of income during 1997 due  to  the
refinancing of its permanent loan, in which back-end loan  fees  which
had  been previously amortized over the life of the loan were forgiven
by the Lender.

Total  expenses  decreased by $250,627 for  the  twelve  months  ended
December 31, 1998, as compared to December 31, 1997, primarily due  to
the sale of its 60% interest in Capital Builders Roseville Venture  on
May 1, 1997.  As of December 31, 1998, the Statement of Operations did
not include any joint venture expenses, where as of December 31, 1997,
expenses of $299,645 were included.

The  Partnership's  remaining property, Plaza de  Oro,  recognized  an
increase  in  expenses of $48,669 primarily due  to  the  increase  of
depreciation and amortization resulting from the accelerated write-off
of  tenant  improvements  and  leasing  commissions  relating  to  the
premature vacancy of the 12,052 square foot office tenant.


ITEM 7A.  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISKS

The Partnership does not have a material market risk due to financial
instruments held by the Partnership.  The Partnership's variable rate
instruments consist of a loan payable to affiliate and a construction
loan for Phase II.  The total outstanding balances of these loans are
$720,503  and $24,000 as of December 31, 1999 and 1998, respectively.
The  increase  from  1998  to 1999 is due  to  additional  draws  for
construction of Phase II.


ITEM 8.   FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

                                                       Page Number

INDEPENDENT AUDITORS' REPORT                                     11

FINANCIAL STATEMENTS

     BALANCE SHEETS                                              12
     AS OF DECEMBER 31, 1999, and 1998

     STATEMENTS OF OPERATIONS                                    13
     FOR THE YEARS ENDED
     DECEMBER 31, 1999, 1998, and 1997

     STATEMENTS OF PARTNERS'                                     14
     (DEFICIT) EQUITY FOR THE YEARS ENDED
     DECEMBER 31, 1999, 1998, and 1997

     STATEMENTS OF CASH FLOWS                                    15
     FOR THE YEARS ENDED
     DECEMBER 31, 1999, 1998, and 1997

     NOTES TO FINANCIAL STATEMENTS                            16-23

SUPPLEMENTAL SCHEDULES

     SCHEDULE III
     REAL ESTATE AND ACCUMULATED DEPRECIATION                    28

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, 1999 and 1998, and the related statements of operations,
partners'  (deficit) equity and cash flows for each of the  years  in
the  three-year  period ended December 31, 1999.  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, 1999 and 1998, and
the  results  of its operations and its cash flows for  each  of  the
years  in the three-year period ended December 31, 1999 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  2  to the financial statements, the partnership's  negative
cash  flow  position and significant debt service requirements  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 2. The financial statements and financial statement schedule  do
not  include  any adjustments that might result from the  outcome  of
this uncertainty.

Sacramento, California                       KPMG LLP
January 28, 2000
PART 2 - FINANCIAL INFORMATION

<TABLE>
Ca
pi
ta
l
Bu
il
de
rs
De
ve
lo
pm
en
t
Pr
op
er
ti
es
(a
Ca
li
fo
rn
ia
Li
mi
te
d
Pa
rt
ne
rs
hi
p)

BA
LA
NC
E
SH
EE
TS
<CAPTION>
                                                December    December
                                                  31          31
                                                 1999        1998
<S>                                               <C>         <C>
AS
SE
TS
Ca                                               $23,679     $17,206
sh
 ,
in
cl
ud
in
 g
re
st
ri
ct
ed
ca
sh
Ac                                                58,194      68,742
co
un
ts
re
ce
iv
ab
le
 ,
ne
 t
In
ve
st
me
nt
pr
op
er
ty
he
ld
fo
 r
sa
le
 ,
ne
 t
          of
   accumulat
          ed
   depreciat
     ion and
   amortizat
      ion of
   $1,470,51
       9 and
   $1,404,34
        3 at
    December
    31, 1999
   and 1998,                                   4,514,466   3,727,709
   respectiv
         ely

Le
as
 e
Co
mm
is
si
on
s,
ne
 t
of
ac
cu
mu
la
te
 d
   amortizat
      ion of
    $107,412
         and
     $99,899
          at
   December                                        87,948      34,260
  31, 1999
  and 1998,
  respectiv
  ely

Ot
he
 r
as
se
ts
 ,
ne
 t
of
ac
cu
mu
la
te
 d
   amortizat
  ion of
  $71,538
  and
     $43,372
          at
    December
    31, 1999
         and
       1998,                                      79,518      53,389
   respectiv
         ely

              Total Assets                     $4,763,805  $3,901,306

LI
AB
IL
IT
IE
S
AN
D
PA
RT
NE
RS
'
(D
EF
IC
IT
)
EQ
UI
TY
No                                            $4,199,057  $3,574,944
te
 s
pa
ya
bl
 e
Lo                                               104,331      24,000
an
pa
ya
bl
 e
to
af
fi
li
at
 e
Ac                                               489,667      87,929
co
un
ts
pa
ya
bl
e
an
d
ac
cr
ue
d
li
ab
il
it
ie
s
Te                                                44,357      29,043
na
nt
de
po
si
ts

              Total Liabilities                 4,837,412   3,715,916

Co
mm
it
me
nt
 s
an
 d
co
nt
in
ge
nc
ie
 s
Pa
rt
ne
rs
 '
(D
ef
ic
it
 )
Eq
ui
ty
 :
     General                                    (58,560)    (55,970)
    Partners
     Limited                                    (15,047)     241,360
    Partners
              Total Partners' (Deficit) Equity    (73,607)     185,390

   Total
  Liabiliti                                   $4,763,805  $3,901,306
  es and
  Partners'
  (Deficit)
  Equity

Se
 e
ac
co
mp
an
yi
ng
no
te
 s
to
th
 e
fi
na
nc
ia
 l
st
at
em
en
ts
 .

</TABLE>

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

  STATEMENTS OF OPERATIONS
  YEARS ENDED DECEMBER 31,

<CAPTION>
                                 1999         1998          1997
<S>                              <C>          <C>           <C>
Revenues
  Rental and other income       $568,131      $621,770     $991,210
  Interest Income                  1,428           435          912

     Total revenues              569,559       622,205      992,122

Expenses
  Operating expenses             140,441       151,278      202,125
  Repairs & maintenance           90,690        76,256      130,654
  Property taxes                  57,411        57,673       71,632
  Interest                       349,250       338,454      472,622
  General and administrative      88,911        94,253       89,335
  Depreciation and
amortization                     101,853       294,586      296,759

     Total expenses              828,556     1,012,500    1,263,127

  Loss before minority
interest and gain from
disposition of Joint Venture   (258,997)     (390,295)    (271,005)

  Minority interest in net
loss of Joint Venture          - - - - -     - - - - -       22,806

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

     Net (loss) income         (258,997)     (390,295)      879,714

Allocated to General
Partners                         (2,590)       (3,903)        8,797

Allocated to Limited
Partners                      ($256,407)    ($386,392)     $870,917

Net (loss) income per
limited Partnership unit        ($18.60)      ($28.03)       $63.17

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' (DEFICIT) EQUITY
             YEARS ENDED DECEMBER 31, 1999, 1998 AND 1997
<CAPTION>
                                                               Total
                                                           Partners'
                                    General     Limited    (Deficit)
                                   Partners    Partners       Equity
<S>                                  <C>        <C>            <C>
  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

      Net Loss                     (3,903)    (386,392)    (390,295)

  Balance at December 31, 1998    (55,970)      241,360      185,390

      Net Loss                     (2,590)    (256,407)    (258,997)

  Balance at December 31, 1999   ($58,560)    ($15,047)    ($73,607)

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>
                                 1999          1998        1997
<S>                               <C>          <C>         <C>
Cash flows from operating
activities:
  Net (loss) income            ($258,997)   ($390,295)      $879,714
  Adjustments to reconcile
net (loss) income to cash
flow (used in) provided by
operating activities:
  Depreciation and
amortization                      101,853      294,586      296,759
  Minority interest in joint
venture                         - - - - -    - - - - -     (22,806)
  Gain from disposition of
joint venture investment        - - - - -    - - - - -  (1,127,913)
  Unpaid interest expense on
loan payable                    - - - - -    - - - - -       55,347
  Changes in assets and
liabilities:
    Decrease (Increase) in
accounts receivable                10,548       51,410     (19,494)
    Increase in leasing
commissions                      (61,201)      (1,093)     (36,346)
    (Increase) Decrease in
other assets                      (3,091)        2,703        (757)
    Increase (Decrease) in
accounts payable and
accrued liabilities                67,925        (328)      (12,259)
     Increase (Decrease ) in
tenant deposits                    15,314     (22,946)     (11,801)

Net cash (used in) provided
by operating activities         (127,649)     (65,963)           444

Cash flows from investing
activities:
  Improvements to investment
properties                      (519,118)      (1,588)     (83,197)
  Proceeds from sale of
partnership investment          - - - - -    - - - - -       14,380

Net cash used in investing
activities                      (519,118)      (1,588)      (68,817)


Cash flows from financing
activities:
  Proceeds on notes payable       956,174      110,000     3,530,000
  Payments on notes payable     (332,061)     (38,454)   (3,425,377)
  Payment of loan fees           (51,204)     (13,099)      (83,275)
  Proceeds on loans payable
to affiliate                       80,331       24,000    - - - - -

Net cash provided by
financing activites               653,240       82,447       21,348

Net increase (decrease) in
cash                                6,473       14,896     (47,025)

Cash, beginning of period          17,206        2,310        49,335

Cash, end of period               $23,679      $17,206        $2,310

Supplemental disclosure:
  Cash paid for interest         $349,250     $338,454      $391,634

Non cash investing and
financing activity:
  Capital improvements
financed through accounts
payable and accrued
liabilities                      $333,813    - - - - -    - - - - -


See accompanying notes to the financial statements.

</TABLE>



                Capital Builders Development Properties
                  (A California Limited Partnership)


                     NOTES TO FINANCIAL STATEMENTS
                   December 31, 1999, 1998 and 1997

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.

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

On   July   1,  1999,  the  Partnership's  investment  property   was
reclassified as a long-lived asset to be disposed of and is currently
listed for sale.  Assets to be disposed of are reported at the  lower
of  the  carrying amount or fair value less cost to sell.  Subsequent
revisions  in estimates of fair value less cost to sell are  reported
as  adjustments  to the carrying amount, provided that  the  carrying
amount  does  not  exceed  the  initial  carrying  amount  before  an
adjustment was made to reflect the decision to sell the asset.  As of
July 1, 1999, the fair value of the Partnership's investment property
less  cost  to  sell  exceeded the carrying  amount.   Therefore,  no
adjustment was made to the carrying amount.

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.   Due to the Partnership's  investment  property
being  reclassified  as  a  long  lived  asset  to  be  disposed  of,
depreciation expense has not been recorded subsequent to  the  second
quarter of 1999.

In  accordance with Financial Account Standard No. 34, Capitalization
of  Interest Cost, interest associated with borrowings used  to  fund
construction  in  process  have been capitalized  in  the  amount  of
$20,703.

Other Assets

Included in other assets are loan fees, which are amortized over  the
life of the related note.

Lease Commissions

Lease  commissions  are no longer amortized over  the  related  lease
terms  due  to being an intangible directly related to the investment
property.

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 Loss per Limited Partnership Unit

The  net loss per Limited Partnership unit is computed based  on  the
weighted  average number of units outstanding during the  year  ended
December 31 of 13,787 in 1999, 1998 and 1997.

Statement of Cash Flows

For  purposes  of  the  statements 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 - LIQUIDITY

In  November  1998,  one  of the investment property's  major  office
tenants,  occupying 12,052 square feet, filed Chapter  11  Bankruptcy
and  vacated its suites.  Although the tenant's lease does not expire
until  January  31, 2001, it is unlikely that any future  collections
will be received on the lease.

The  loss of this tenant has had a significant negative impact on the
Partnership's  cash  flow.  As of December 31, 1999,  Management  was
successful  in  re-leasing the 12,052 square feet and  an  additional
2,569  square  feet  of office space and 7,020 of  industrial  space.
Additionally, Management was successful in leasing 6,424 square  feet
of the 9,424 square foot pad building.  The pad building is currently
under construction.

The  additional lease up of Plaza de Oro's existing Phase I  and  new
Phase  II  pad building has increased the project's overall occupancy
to  87%  during the third quarter of 1999.  This additional  lease-up
has   improved  the  Partnership's  ability  to  meet  current   year
obligations, but additional leasing is still required to  fully  meet
its obligations.

During 1999, Management secured a $150,000 interim loan to fund  1999
lease-up costs and a portion of operating expenses in excess of  cash
provided  by operations.  Additionally, the General Partner  provided
an  affiliate  loan to cover additional operating  expenses.   During
1999, Management also obtained construction loans totaling $1,313,000
to  cover  the development costs of Phase II's 9,424 square foot  pad
building.

Due  to  the  property approaching a stabilized occupancy, Management
listed  the property for sale with an independent brokerage  firm  on
July  1, 1999.  The estimated sales proceeds are projected to  be  in
excess  of  current obligations, but there are no offers  pending  or
guaranteed sales price. At this time, Management has not finalized  a
plan for the use of the proceeds from the sale of the property.

NOTE 3 - 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 remaining fees would not be payable
based on the current listing price of the assets to be disposed of.

The total management fees paid to the Managing General Partner were $-
0-,  $7,960 and $47,380 for the years ended December 31, 1999,  1998,
and  1997 respectively.  Total reimbursement of expenses was $86,352,
$85,552,  and  $97,416,  respectively.  The Partnership  has  accrued
$75,213 of management fees and cost reimbursements as of December 31,
1999.

NOTE 4 - INVESTMENT PROPERTIES

The  components of the investment property account are as follows  at
December 31,:
                                     1999            1998
Land                               $1,353,177     $1,353,177
Building and Improvements           3,281,797      3,289,420
Tenant Improvements                   577,747        489,455
Construction in Progress              772,264          - - -
Investment properties, at cost      5,984,985      5,132,052

Less: accumulated depreciation
        and amortization          (1,470,519)    (1,404,343)

     Investment property, net      $4,514,466     $3,727,709

NOTE 5 - LOAN PAYABLE TO AFFILIATE

The  loan  payable  at  December  31,  1999  and  December  31,  1998
represents  funds advanced to the Partnership from Capital  Builders,
Inc.  (General Partner).  These funds were utilized to cover negative
cash  flow from operations.  The loan bears interest at approximately
the  same  rate  charged  to the Partnership  by  a  bank  for  other
borrowings  (9.25%  as  of December 31, 1999)  and  is  payable  upon
demand.  The Partnership accrued interest of $7,154 and $128 for  the
years ending December 31, 1999 and 1998, respectively.

NOTE 6 - NOTES PAYABLE

Notes Payable consist of the following at December 31,:

                                                1999         1998
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.                             $3,242,885   $3,284,944

Land  loan  of $290,000 due May  1,  1999,
which  had  been extended to September  1,
1999.   The  note required  interest  only
payments  and  beared interest  at  12.5%.
The  note  was secured by Plaza  de  Oro's
separately parceled Phase II land.                - 0 -      290,000

Construction   loan  in  the   amount   of
$1,123,000,  which  accrues  interest   at
Prime  +1% (Prime as of December 31,  1999
is  8.5%)  and  is  due August  19,  2000.
Interest    accrues   monthly    on    the
outstanding  balance  of  the   cumulative
construction   loan   draws.    The   Note
provides for future draws of $506,828  for
construction costs.  This loan is  secured
by  a First Deed of Trust on Phase II land
and improvements, and is guaranteed by the
General Partner.                                616,172        - 0 -

A  construction  loan  in  the  amount  of
$190,000  due  March 1,  2001.   The  note
requires interest only payments and  bears
interest  at 13.5%.  The note is a  Second
Deed  of  Trust  on  Phase  II  land   and
improvements.  A restricted  cash  reserve
balance  is maintained to service  monthly
payments  until  October  31,  2000.   The
restricted cash balance as of December 31,
1999 is $19,362.                                190,000        - 0 -

Interim     tenant     improvement/leasing
commission loan of $150,000 due  March  1,
2000.   The  note requires  interest  only
payments  and bears interest at 15%.   The
note  is secured by a Second Deed Of Trust
on   Plaza  de  Oro's  Phase  I  land  and
improvements.                                   150,000      - - - -

Total Notes Payable                          $4,199,057   $3,574,944

Scheduled principal payments during 2000, 2001, and 2002 are
$812,398, $240,688, and $3,145,971, respectively.

Management  is  currently  in the process  of  negotiating  terms  to
refinance  the interim tenant improvement loan of $150,000 due  March
1, 2000.

NOTE 7 - 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:

                    2000                       $508,770
                    2001                        470,762
                    2002                        210,503
                    2003                         42,228
                    2004                         39,690
                    Total                    $1,271,953

NOTE 8 - RECONCILIATION TO INCOME TAX METHOD OF ACCOUNTING

A  reconciliation  of  the  net (loss) income  as  reflected  on  the
accompanying  Statements  of Operations  to  that  reflected  on  the
Federal  income  tax return for the years ended  December  31  is  as
follows:

                                         1999         1998          1997

Net (loss) income - Statements
  of Operations                    ($258,997)   ($390,295)      $879,714

Adjustments
  resulting from:
  Difference in depreciation
  and amortization                    (1,590)      108,868     (413,552)

  Net (loss) income - tax return   ($260,587)   ($281,427)      $466,162

Partners' equity - Statements of
  Partners' (deficit)equity         ($73,607)     $185,390      $575,685

Increases
  resulting from:
  Difference in depreciation
  and amortization and
  valuation allowance               1,875,009    1,876,599     1,767,731
  Selling expenses for
  Partnership units                 1,012,108    1,012,108     1,012,108

  Partners' equity - tax return    $2,813,510   $3,074,097    $3,355,524

Taxable (loss) income per Limited
  Partnership unit after
  giving effect to the
  taxable loss allocated to
  the General Partner                ($18.71)     ($20.21)        $33.47


NOTE 9 - 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.

     Notes payable
     The  fair value of the Partnership's notes payable are 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:

                                      1999                1998
                             Carrying    Estimated   Carrying   Estimated
                               Amount   Fair Value     Amount  Fair Value

Liabilities
Loan payable to affiliate    $104,331     $104,331    $24,000     $24,000
Note payable               $3,242,885   $3,242,885 $3,284,944  $3,284,944
Note payable                    - - -        - - -   $290,000    $290,000
Note payable                 $616,172     $616,172      - - -       - - -
Note payable                 $190,000     $190,000      - - -       - - -
Note payable                 $150,000     $150,000      - - -       - - -


NOTE 10 - 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 11 - PROSPECTIVE ACCOUNTING PRONOUNCEMENTS

Revenue Recognition in Financial Statements

On  December 3, 1999, the Securities Exchange Commission staff  issued
Staff  Accounting Bulletin No. 101, Revenue Recognition  in  Financial
Statements (SAB 101).  SAB 101 summarizes certain of the staff's views
in  applying  generally  accepted  accounting  principles  to  revenue
recognition  in  financial statements.  SAB  101  is  required  to  be
adopted  no later than the first quarter of the fiscal year  beginning
after December 15, 1999.  Management believes that the adoption of SAB
101 will not have a material impact on the financial statements.

Accounting for Derivative Instruments and Hedging Activity

In June 1998, the FASB issued SFAS No. 133, Accounting for Derivative
Instruments  and  Hedging Activities.  SFAS No.  133  as  amended  is
effective  for  all fiscal quarters of fiscal years  beginning  after
June 15, 2000.  Management believes that the adoption of SFAS No. 133
will  not have a material impact on the financial statements  due  to
the  Partnership's inability to invest in such instruments as  stated
in the Partnership agreement.


                               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.  CB relocated
on October 8, 1999, and its executive offices are now located at 1130
Iron  Point  Road,  Suite  170, Folsom, California  95630  [telephone
number  (916)  353-0500].  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 $4,199,057.

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 a license in Real Estate and  former
licenses in Insurance and Securities.

Ellen  Wilcox:   Ellen  Wilcox is a Registered Investment  Advisor  in
California and the former Owner/Manager of Wilcox Financial  Services.
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.  From 1978 to 1995 he worked
for  KPMG  LLP  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 $25,048, of which $-0- was  paid  and
$25,048  was  accrued  in  1999.  These fees  consisted  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 $86,352 in 1999.


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, 1999 the Managing General Partner
and/or   its   affiliate  received  $86,352  for   reimbursement   of
administrative   services  and  $-0-  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, 2000.