<PAGE>   1

================================================================================

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

                                   FORM 10-K

(MARK ONE)
[X]          ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]

                  FOR THE FISCAL YEAR ENDED DECEMBER 31, 2000

                                       OR

[ ]         TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                 SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]

        FOR THE TRANSITION PERIOD FROM ______________ TO ______________

                          COMMISSION FILE NO. 2-80930

                        DEL TACO RESTAURANT PROPERTIES I
                       (A CALIFORNIA LIMITED PARTNERSHIP)
             (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)


                  CALIFORNIA                            95-3852699
       (STATE OR OTHER JURISDICTION OF               (I.R.S. EMPLOYER
        INCORPORATION OR ORGANIZATION)            IDENTIFICATION NUMBER)

         23041 AVENIDA DE LA CARLOTA
           LAGUNA HILLS, CALIFORNIA                       92653
   (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)             (ZIP CODE)

       Registrant's telephone number, including area code: (949) 462-9300

        Securities registered pursuant to section 12(b) OF THE ACT: NONE

        SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT: NONE

     Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.     Yes  X      No
                                                  ---        ---

                      DOCUMENTS INCORPORATED BY REFERENCE

     Portions of the registrant's Form S-11 Registration Statement filed
December 17, 1982 are incorporated by reference into Part IV of this report.

================================================================================

<PAGE>   2

                                     PART I

ITEM 1.  BUSINESS

The partnership is a publicly-held limited partnership organized under the
California Uniform Limited Partnership Act. The partnership's General Partner is
Del Taco, Inc., a California corporation ("General Partner"). The partnership
sold 8,751 units totaling $4.375 million through an offering of limited
partnership units from March 1983 through March 1984. The term of the
partnership agreement is until April 30, 2022 unless terminated earlier by means
provided in the partnership agreement.

The business of the partnership is ownership and leasing of restaurants in
California to Del Taco, Inc. The partnership acquired land and constructed six
Mexican-American restaurants for long-term lease to Del Taco, Inc. Each property
is leased for 35 years on a triple net basis. Rent is equal to twelve percent of
gross sales of the restaurants. As of December 31, 2000, the partnership had a
total of six properties leased to Del Taco (Del Taco, in turn, has subleased two
of the restaurants).

The partnership has no full time employees. The partnership agreement assigns
full authority for general management and supervision of the business affairs of
the partnership to the General Partner. The General Partner has a one percent
interest in the profits or losses and distributions of the partnership. Limited
partners have no right to participate in the management or conduct of the
partnership's business affairs.


                                       2
<PAGE>   3

ITEM 2.  PROPERTIES

The partnership has acquired six properties with proceeds obtained from the sale
of partnership units:

<TABLE>
<CAPTION>
                                                      Date of                Restaurant                  Date of Commencement
Address                    City, State                Acquisition            Constructed                 of Operation(1)
-------                    -----------                -----------            -----------                 ------------
<S>                        <C>                        <C>                    <C>                         <C>

Riverside Avenue           Rialto, CA                 September 28, 1984     60 seat with drive          February 12, 1985
                                                                             through service window

Elden Avenue               Moreno Valley, CA          March 8, 1985          60 seat with drive          June 30, 1985
                                                                             through service window

Foothill Boulevard         La Verne, CA               April 16, 1985         60 seat with drive          November 6, 1985
                                                                             through service window

Baseline & Archibald       Rancho Cucamonga, CA       July 10, 1985          60 seat with drive          November 26, 1985
                                                                             through service window

Elkhorn Boulevard          Sacramento, CA             August 22, 1985        60 seat with drive          January 15, 1986
                                                                             through service window

Haven                      Rancho Cucamonga, CA       September 20, 1985     60 seat with drive          February 14, 1986
Avenue                                                                       through service window
</TABLE>

(1)      Commencement of operation is the first date Del Taco, Inc., as lessee,
         operated the facility on the site as a Del Taco restaurant.


                                       3
<PAGE>   4

                                     PART II


ITEM 3. LEGAL PROCEEDINGS

The partnership is not a party to any material pending legal proceedings.

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

None.

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

The partnership sold 8,751 ($4,375,500) limited partnership units during the
public offering period ended March 20, 1984 and currently has 836 limited
partners of record. There is no public market for the trading of the units.
Distributions made by the partnership to the limited partners during the past
three fiscal years are described in Note 6 to the Notes to the Financial
Statements contained under Item 8.


                                       4
<PAGE>   5

ITEM 6. SELECTED FINANCIAL DATA


                                FOR THE YEAR ENDED DECEMBER 31,

<TABLE>
<CAPTION>
                          2000         1999         1998         1997         1996
                          ----         ----         ----         ----         ----
<S>                    <C>          <C>          <C>          <C>          <C>

Rental revenue         $ 587,657    $ 537,905    $ 531,608    $ 487,280    $ 452,203

Interest and
  other income             7,054        4,832        4,924        5,109        2,902

Net income               503,811      451,648      445,860      403,356      365,387

Net income
  per limited
  partnership
  unit(1)                  57.00        51.09        50.44        45.63        41.34

Cash distributions
  per limited
  partnership unit         60.36        56.29        53.84        49.28        44.82

Total assets           2,443,133    2,459,643    2,497,164    2,515,808    2,543,173

Long-term
  obligations               None         None         None         None         None
</TABLE>

(1)      The net income per limited partnership unit was calculated based upon
         8,751 weighted average units outstanding for all years presented.

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

Liquidity and Capital Resources

The partnership offered limited partnership units for sale between March 1983
and March 1984. 15% of the $4.375 million raised through sale of limited
partnership units was used to pay commissions to brokers and to reimburse the
General Partner for offering costs incurred. Approximately $4 million of the
remaining funds were used to acquire sites and build six restaurants.


                                       5
<PAGE>   6

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (Continued)

The six restaurants leased to Del Taco make up almost all of the income
producing assets of the partnership. Therefore, the business of the partnership
is almost entirely dependent on the success of the Del Taco trade name
restaurants that lease the properties. The success of the restaurants is
dependent on a large variety of factors, including, but not limited to, consumer
demand and preference for fast food, in general, and for Mexican-American food
in particular.

Results of Operations

The partnership owns six properties that are under long-term lease to Del Taco
for restaurant operations (Del Taco, in turn, has subleased two of the
restaurants to Del Taco franchisees, one of which is affiliated with Del Taco).

The following table sets forth rental revenue earned by restaurant for the year:

<TABLE>
<CAPTION>
                                                 YEAR ENDED DECEMBER 31,

                                               2000       1999       1998
                                             --------   --------   --------
<S>                                          <C>        <C>        <C>

Riverside Avenue, Rialto, CA                 $ 88,097   $ 85,753   $ 85,545

Elden Avenue, Moreno Valley, CA                96,295     81,455     82,084

Foothill Boulevard, La Verne, CA              123,773    116,168    113,886

Baseline & Archibald, Rancho Cucamonga, CA     99,757     90,805     85,069

Elkhorn Boulevard, Sacramento, CA              67,124     60,554     55,132

Haven Avenue, Rancho Cucamonga, CA            112,611    103,170    109,892
                                             --------   --------   --------

          Total                              $587,657   $537,905   $531,608
                                             ========   ========   ========
</TABLE>


The partnership receives rental revenues equal to 12 percent of gross sales from
the restaurants. The partnership earned rental revenue of $587,657 during the
year ended December 31, 2000, which represents an increase of $49,752 from 1999.
The increase in rental revenue was caused by an increase in sales at the
restaurants under lease.


                                       6
<PAGE>   7

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
        OF OPERATIONS - (Continued)

The following table breaks down general and administrative expenses by type of
expense:

                  PERCENTAGE OF TOTAL GENERAL & ADMIN. EXPENSE

<TABLE>
<CAPTION>
                         Year Ended December 31,
                       2000       1999       1998
                      ------     ------     ------
<S>                   <C>        <C>        <C>

Accounting fees        64.18%     61.71%     59.86%
Distribution of
  information to
  limited partners     33.74      36.60      38.43
Other                   2.08       1.69       1.71
                      ------     ------     ------
                      100.00%    100.00%    100.00%
                      ======     ======     ======
</TABLE>


General and administrative costs decreased by $189 from 1999 to 2000.
Depreciation expense was the same in both 2000 and 1999.

Net income increased by $52,163 from 1999 to 2000 due to the increase in
revenues of $51,974 and the $189 decrease in general and administrative
expenses.


                                       7
<PAGE>   8

ITEM 8.  FINANCIAL STATEMENTS

PART I.  INFORMATION


               INDEX                                  PAGE NUMBER
               -----                                  -----------


Report of Independent Public Accountants                     9

Balance Sheets at December 31, 2000 and 1999                10

Statements of Income for the years ended
  December 31, 2000, 1999 and 1998                          11

Statement of Changes in Partners' Equity for
  the three years ended December 31, 2000                   12

Statements of Cash Flows for the years ended
  December 31, 2000, 1999 and 1998                          13

Notes to Financial Statements                            14-18


                                       8
<PAGE>   9

                                                          [ARTHUR ANDERSEN LOGO]

REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS

To the Partners of
Del Taco Restaurant Properties, I:

We have audited the accompanying balance sheets of Del Taco Restaurant
Properties I (a California Limited Partnership) as of December 31, 2000 and
1999, and the related statements of income, partners' equity and cash flows for
the three years ended December 31, 2000. These financial statements and the
schedule referred to below are the responsibility of the Partnership's
management. Our responsibility is to express an opinion on these financial
statements and schedule based on our audits.

We conducted our audits in accordance with auditing standards generally accepted
in the United States. 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 Del Taco Restaurant Properties
I as of December 31, 2000 and 1999, and the results of its operations and its
cash flows for the three years ended December 31, 2000 in conformity with
accounting principles generally accepted in the United States.

Our audits were made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The schedule in the index of the
financial statements is presented for purposes of complying with the Securities
and Exchange Commission's rules and is not part of the basic financial
statements. This schedule has been subjected to the auditing procedures applied
in our audits of the basic financial statements and, in our opinion, fairly
states in all material respects, the financial data required to be set forth
therein in relation to the basic financial statements taken as a whole.


/s/ ARTHUR ANDERSEN LLP

Orange County, California
February 23, 2001


                                       9
<PAGE>   10

                        DEL TACO RESTAURANT PROPERTIES I

                                 BALANCE SHEETS

<TABLE>
<CAPTION>
                                                DECEMBER 31,
                                            2000            1999
                                         ----------      ----------
<S>                                      <C>             <C>

                                ASSETS

CURRENT ASSETS:
     Cash                                $  190,915      $  170,290
     Receivable from Del Taco, Inc.          53,331          46,970
     Deposits                                   876             600
                                         ----------      ----------
         Total current assets               245,122         217,860
                                         ----------      ----------

PROPERTY AND EQUIPMENT, AT COST:
     Land and improvements                1,852,482       1,852,482
     Buildings and improvements           1,013,134       1,013,134
     Machinery and equipment              1,136,026       1,136,026
                                         ----------      ----------
                                          4,001,642       4,001,642
     Less--accumulated depreciation       1,803,631       1,759,859
                                         ----------      ----------
                                          2,198,011       2,241,783
                                         ----------      ----------

                                         $2,443,133      $2,459,643
                                         ==========      ==========

                   LIABILITIES AND PARTNERS' EQUITY
                   --------------------------------

CURRENT LIABILITIES:
     Payable to limited partners         $   41,937      $   31,001
     Accounts payable                        10,153           7,828
                                         ----------      ----------
         Total current liabilities           52,090          38,829
                                         ----------      ----------

PARTNERS' EQUITY:
     Limited partners                     2,127,036       2,156,509
     General Partner-Del Taco, Inc.         264,007         264,305
                                         ----------      ----------
                                          2,391,043       2,420,814
                                         ----------      ----------

                                         $2,443,133      $2,459,643
                                         ==========      ==========
</TABLE>


                          The accompanying notes are an
                  integral part of these financial statements.


                                       10
<PAGE>   11

                        DEL TACO RESTAURANT PROPERTIES I

                              STATEMENTS OF INCOME

<TABLE>
<CAPTION>
                                            YEAR ENDED DECEMBER 31,

                                       2000          1999          1998
                                     --------      --------      --------
<S>                                  <C>           <C>           <C>

REVENUES:
     Rent                            $587,657      $537,905      $531,608
     Interest                           5,904         3,729         3,425
     Other                              1,150         1,103         1,499
                                     --------      --------      --------
                                      594,711       542,737       536,532
                                     --------      --------      --------

EXPENSES:
     General and administrative        47,128        47,317        46,900
     Depreciation                      43,772        43,772        43,772
                                     --------      --------      --------
                                       90,900        91,089        90,672
                                     --------      --------      --------

         Net income                  $503,811      $451,648      $445,860
                                     ========      ========      ========

     Net income per limited
        partnership unit             $  57.00      $  51.09      $  50.44
                                     ========      ========      ========
</TABLE>


                          The accompanying notes are an
                  integral part of these financial statements.


                                       11
<PAGE>   12

                        DEL TACO RESTAURANT PROPERTIES I

                    STATEMENT OF CHANGES IN PARTNERS' EQUITY

                       THREE YEARS ENDED DECEMBER 31, 2000

<TABLE>
<CAPTION>
                                   Limited Partners
                                ----------------------        General
                                Units        Amount           Partner           Total
                                -----      -----------       ---------       -----------
<S>                             <C>        <C>               <C>             <C>

Balance, December 31, 1997      8,751      $ 2,231,634       $ 264,953       $ 2,496,587

   Net income                      --          441,401           4,459           445,860

   Cash distributions              --         (471,072)         (4,616)         (475,688)
                                -----      -----------       ---------       -----------

Balance, December 31, 1998      8,751        2,201,963         264,796         2,466,759

   Net income                      --          447,132           4,516           451,648

   Cash distributions              --         (492,586)         (5,007)         (497,593)
                                -----      -----------       ---------       -----------

Balance, December 31, 1999      8,751        2,156,509         264,305         2,420,814

   Net income                      --          498,773           5,038           503,811

   Cash distributions              --         (528,246)         (5,336)         (533,582)
                                -----      -----------       ---------       -----------

Balance, December 31, 2000      8,751      $ 2,127,036       $ 264,007       $ 2,391,043
                                =====      ===========       =========       ===========
</TABLE>


                          The accompanying notes are an
                  integral part of these financial statements.


                                       12
<PAGE>   13

                        DEL TACO RESTAURANT PROPERTIES I

                            STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>
                                                                          YEAR ENDED DECEMBER 31,
                                                                   2000            1999            1998
                                                                 ---------       ---------       ---------
<S>                                                              <C>             <C>             <C>

CASH FLOWS FROM OPERATING ACTIVITIES:

Net income                                                       $ 503,811       $ 451,648       $ 445,860
Adjustments to reconcile net income to net
  cash provided by operating activities:
     Depreciation                                                   43,772          43,772          43,772
     Increase in payable to limited partners                        10,936           6,299          12,012
     (Increase) decrease in receivable from General Partner         (6,361)            863          (5,232)
     Increase (decrease) in accounts payable                         2,325           2,125            (828)
     (Increase) decrease in deposits                                  (276)            197            (197)
                                                                 ---------       ---------       ---------

             Net cash provided by operating activities             554,207         504,904         495,387

CASH FLOWS FROM FINANCING ACTIVITIES:

Cash distributions to partners                                    (533,582)       (497,593)       (475,688)
                                                                 ---------       ---------       ---------

NET INCREASE IN CASH                                                20,625           7,311          19,699

BEGINNING CASH BALANCE                                             170,290         162,979         143,280
                                                                 ---------       ---------       ---------

ENDING CASH BALANCE                                              $ 190,915       $ 170,290       $ 162,979
                                                                 =========       =========       =========
</TABLE>


                          The accompanying notes are an
                  integral part of these financial statements.


                                       13
<PAGE>   14

                        DEL TACO RESTAURANT PROPERTIES I

                          NOTES TO FINANCIAL STATEMENTS

                                DECEMBER 31, 2000


NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

THE PARTNERSHIP: Del Taco Restaurant Properties I (a California limited
partnership) was formed on November 30, 1982, for the purpose of acquiring real
property in California for construction of six Mexican-American restaurants to
be leased under long-term agreements to Del Taco, Inc. (General Partner for
operation under the Del Taco trade name).

BASIS OF ACCOUNTING: The partnership utilizes the accrual method of accounting
for transactions relating to the business of the partnership. Distributions are
made to the general and limited partners in accordance with the provisions of
the partnership agreement (see Note 2).

PROPERTY AND EQUIPMENT: Property and equipment is stated at cost. Depreciation
is computed using the straight-line method over estimated useful lives which are
20 years for land improvements, 35 years for buildings and improvements, and 10
years for machinery and equipment.

The partnership accounts for property and equipment in accordance with Statement
of Financial Accounting Standards (SFAS) No. 121, "Accounting for the Impairment
of Long Lived Assets and for Long Lived Assets to be Disposed of." SFAS 121
requires that long-lived assets be reviewed for impairment whenever events or
changes in circumstances indicate that the carrying value of the asset may not
be recoverable. In evaluating long-lived assets held for use, an impairment loss
is recognized if the sum of the expected future cash flows (undiscounted and
without interest charges) is less than the carrying value of the asset. Once a
determination has been made that an impairment loss should be recognized for
long-lived assets, various assumptions and estimates are used to determine fair
value including, among others, estimated costs of construction and development,
recent sales of comparable properties and the opinions of fair value prepared by
independent real estate appraisers. Long-lived assets to be disposed of are
reported at the lower of carrying amount or fair value less cost to sell.


                                       14
<PAGE>   15

DEL TACO RESTAURANT PROPERTIES I
NOTES TO FINANCIAL STATEMENTS - CONTINUED
DECEMBER 31, 2000


NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES -
         (CONTINUED)

INCOME TAXES: No provision has been made for federal or state income taxes on
partnership net income, since the partnership is not subject to income tax.
Partnership income is includable in the taxable income of the individual
partners as required under applicable income tax laws. Certain items, primarily
related to depreciation methods, are accounted for differently for income tax
reporting purposes (see Note 5).

NET INCOME PER LIMITED PARTNERSHIP UNIT: Net income per limited partnership unit
is based upon the weighted average number of units outstanding during the period
which amounted to 8,751 for all years presented.

USE OF ESTIMATES: The preparation of the financial statements in conformity with
generally accepted accounting principles requires management to make certain
estimates and assumptions that affect the reported amounts of 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 - PARTNERS' EQUITY

Pursuant to the partnership agreement, annual partnership net income is
allocated one percent to the General Partner and 99 percent to the limited
partners. A partnership net loss in any year will be allocated 24 percent to the
General Partner and 76 percent to the limited partners until the losses so
allocated equal income previously allocated. Any additional losses will be
allocated one percent to the General Partner and 99 percent to the limited
partners.

Partnership gains from any sale or refinancing will be allocated one percent to
the General Partner and 99 percent to the limited partners until allocated gains
and profits equal losses. Additional gains will be allocated 24 percent to the
General Partner and 76 percent to the limited partners.

In 1986, the General Partner contributed additional capital of $280,000 to the
partnership in order to provide funds necessary to complete the sixth and final
restaurant.


                                       15
<PAGE>   16

DEL TACO RESTAURANT PROPERTIES I
NOTES TO FINANCIAL STATEMENTS - CONTINUED
DECEMBER 31, 2000


NOTE 3 - LEASING ACTIVITIES

The partnership leases certain properties for operation of restaurants to Del
Taco, Inc. on a triple net basis. The leases are for terms of 35 years
commencing with the completion of the restaurant facility located on each
property and require monthly rentals equal to 12 percent of the gross sales of
the restaurants. There is no minimum rental under any of the leases. The
partnership had a total of six properties leased as of December 31, 2000, 1999
and 1998, two of which have been subleased to Del Taco franchisees (one of which
is affiliated with Del Taco, Inc.)

The five restaurants operated by or affiliated with Del Taco, for which the
partnership is the lessor, had combined, unaudited sales of $4,065,829,
$3,725,831 and $3,721,166 and unaudited net income of $250,957, $192,444 and
$207,430 for the years ended December 31, 2000, 1999 and 1998, respectively. Net
income by restaurant includes charges for general and administrative expenses
incurred in connection with supervision of restaurant operations and interest
expense. The one restaurant operated by a Del Taco franchisee, for which the
partnership is the lessor, had unaudited sales of $831,309, $756,708 and
$708,908 for the years ended December 31, 2000, 1999 and 1998, respectively.

The Elkhorn Boulevard restaurant in Sacramento, California had unaudited net
income of $6,945, and unaudited net losses of $9,658 and $13,373 for the years
ended December 31, 2000, 1999 and 1998, respectively.

NOTE 4 - RELATED PARTIES

The receivable from Del Taco consists of rent accrued for the month of December
2000. The rent receivable was collected on January 11, 2001.

The General Partner received $5,336 in distributions relating to its one percent
interest in the partnership for the year ended December 31, 2000.

Del Taco, Inc. serves in the capacity of General Partner in other partnerships
which are engaged in the business of operating restaurants, and three other
partnerships which were formed for the purpose of acquiring real property in
California for construction of Mexican-American restaurants for lease under
long-term agreements to Del Taco, Inc. for operation under the Del Taco trade
name.


                                       16
<PAGE>   17

DEL TACO RESTAURANT PROPERTIES I
NOTES TO FINANCIAL STATEMENTS - CONTINUED
DECEMBER 31, 2000


NOTE 5 - INCOME TAXES

A reconciliation of financial statement net income to taxable income for each of
the periods is as follows:

<TABLE>
<CAPTION>
                                           2000            1999            1998
                                         ---------       ---------       ---------
<S>                                      <C>             <C>             <C>

Net income per financial statements      $ 503,811       $ 451,648       $ 445,860
Excess tax depreciation                       (669)           (669)           (670)
                                         ---------       ---------       ---------

Taxable income                           $ 503,142       $ 450,979       $ 445,190
                                         =========       =========       =========
</TABLE>


A reconciliation of partnership equity per the financial statements to net worth
for tax purposes as of December 31, 2000, is as follows:

<TABLE>
<S>                                                     <C>
Partners' equity per financial
  statements                                            $ 2,391,043

Issue costs of limited partnership
  units capitalized for tax purposes                        637,325

Excess tax depreciation                                    (139,340)

Other                                                           235
                                                        -----------

Net worth for tax purposes                              $ 2,889,263
                                                        ===========
</TABLE>


                                       17
<PAGE>   18

DEL TACO RESTAURANT PROPERTIES I
NOTES TO FINANCIAL STATEMENTS - CONTINUED
DECEMBER 31, 2000


NOTE 6 - CASH DISTRIBUTIONS TO LIMITED PARTNERS

Cash distributions paid to limited partners for the three years ended December
31, 2000 were as follows:

<TABLE>
<CAPTION>
                                           Cash                   Weighted             Number of Units
                                      Distributions per         Average Number          Outstanding at
                                     Limited Partnership          of Units                the End of
Quarter Ended                              Unit                 Outstanding                Quarter
-------------                        -------------------        --------------         ---------------
<S>                                  <C>                        <C>                    <C>

December 31, 1997                        $   14.21                 8,751                    8,751
March 31, 1998                               10.82                 8,751                    8,751
June 30, 1998                                13.34                 8,751                    8,751
September 30, 1998                           15.47                 8,751                    8,751
                                         ---------
   Total paid in 1998                    $   53.84
                                         =========

December 31, 1998                        $   15.08                 8,751                    8,751
March 31, 1999                               12.92                 8,751                    8,751
June 30, 1999                                13.18                 8,751                    8,751
September 30, 1999                           15.11                 8,751                    8,751
                                         ---------
   Total paid in 1999                    $   56.29
                                         =========

December 31, 1999                        $   15.19                 8,751                    8,751
March 31, 2000                               13.58                 8,751                    8,751
June 30, 2000                                13.98                 8,751                    8,751
September 30, 2000                           17.61                 8,751                    8,751
                                         ---------
   Total paid in 2000                    $   60.36
                                         =========
</TABLE>


Cash distributions per limited partnership unit were calculated based upon the
weighted average number of units outstanding for each quarter and were paid from
operations. Cash distributions for the quarter ended December 31, 2000 amounted
to $16.29 per limited partnership unit and were paid January 22, 2001.


                                       18
<PAGE>   19

                                    PART III


ITEM 9. DISAGREEMENTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

None

ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE PARTNERSHIP'S GENERAL PARTNER

(a) & (b) The executive officers and directors of the General Partner and their
ages are set forth below:

<TABLE>
<CAPTION>
Name                             Title                                     Age
----                             -----                                     ---

<S>                      <C>                                                <C>
Kevin K. Moriarty        Director, Chairman and Chief Executive Officer     54

C. Ronald Petty          President                                          56

Paul W. Hitzelberger     Executive Vice President, Franchise
                         Development/Relations                              56

Robert Terrano           Executive Vice President and Chief Financial
                         Officer                                            45

James D. Stoops          Executive Vice President, Operations               48

Janet D. Simmons         Senior Vice President, Purchasing                  44

Michael L. Annis         Vice President, Secretary and General Counsel      54

C. Douglas Mitchell      Vice President and Corporate Controller            50

Timothy A. Hackbardt     Vice President, Marketing                          37

Shirlene Lopez           Vice President, Corporate Development              36
</TABLE>


The above referenced executive officers and directors of the General Partner
will hold office until the annual meeting of its shareholders and directors,
which is scheduled for the later part of 2001.

(c)      None

(d)      No family relationship exists between any such director or executive
         officer of the General Partner.

(e)      The following is an account of the business experience during the past
         five years of each such director and executive officer:


                                       19
<PAGE>   20

Kevin K. Moriarty, Director, Chairman and Chief Executive Officer of Del Taco,
Inc. Mr. Moriarty began his career with Burger King Corporation in 1974 in
Operations Unit Management. In 1983, he was promoted to Area Manager in New
York, and was subsequently promoted to the Regional Vice President, Chicago
Region in 1985. In 1988, he became Executive Vice President and General Manager
of the North Central Division. Mr. Moriarty served in that position until 1990
when he joined Del Taco, Inc. as President and Chief Executive Officer on July
31, 1990. Mr. Moriarty has served as a Director of the General Partner since
1990.

C. Ronald Petty, President of Del Taco, Inc. Mr. Petty began his career in the
restaurant business in 1973 with McDonald's Corporation. He was employed by
McDonald's in a real estate capacity until 1978. For the next 12 years, Mr.
Petty was in various officer positions with Burger King. These positions
included Vice President of Real Estate, Sr. Vice President of Development,
Region Vice President, Sr. Vice President European Operations, President of
International and President of U.S. Mr. Petty served as President of Miami Subs
from 1990-1992; President and CEO of Denny's 1993-1996; President and CEO of
Peter Piper Pizza 1996-1998; President of Del Taco December 1998-present.

Paul W. Hitzelberger, Executive Vice President, Franchise Development/Relations
of Del Taco, Inc. He was appointed to his current position in December 1995. Mr.
Hitzelberger has responsibility for franchise development and relations. From
1991 to 1995, Mr. Hitzelberger was Executive Vice President, Marketing of Del
Taco, Inc. From September 1988 through September 1989, Mr. Hitzelberger was
Chief Executive Officer of Environmental Marketing Group. Prior to that, Mr.
Hitzelberger was a Vice President of Del Taco, Inc. Prior to joining Del Taco,
Inc., he served as Vice President - Marketing at the department store division
of Lucky Stores, Inc., a major supermarket retailer. Mr. Hitzelberger received a
Master of Business Administration degree from Loyola University in Chicago,
Illinois.

Robert J. Terrano, Executive Vice President and Chief Financial Officer of Del
Taco, Inc. From May 1994 to April 1995, Mr. Terrano served as Chief Financial
Officer for Denny's, Inc. in Spartanburg, S.C. From August 1983 to May 1994, he
served with Burger King Corporation, Miami Florida, in a variety of positions,
most recently as Division Controller. Mr. Terrano joined Del Taco, Inc. in April
1995.

James D. Stoops, Executive Vice President, Operations of Del Taco, Inc. From
1968 to 1991, Mr. Stoops served in a wide variety of Operations positions with
Burger King Corporation with increasing levels of responsibility. In 1985, Mr.
Stoops was appointed Region Vice President/General Manager for the New York
region and served in that position until October of 1990. In January of 1991, he
joined Del Taco, Inc. in his current post.

Janet D. Simmons, Senior Vice President, Purchasing of Del Taco, Inc. From 1979
to 1986, Ms. Simmons was with Denny's Incorporated. She served in the Research
and Development department in a variety of positions until 1982 when she was
promoted to the position of Purchasing Agent. Ms. Simmons was hired in 1986 as
Manager of Contract Purchasing with Carl Karcher Enterprises, a post she held
until March 1990 when she became Vice President, Purchasing for Del Taco, Inc.
Ms. Simmons has a Bachelor of Science degree in Foods and Nutrition from Cal
State Polytechnic University in Pomona, California.


                                       20
<PAGE>   21

Michael L. Annis, Vice President, Secretary and General Counsel of Del Taco,
Inc. From 1981 to 1986 Mr. Annis served as Regional Real Estate Manager and
Director of Real Estate Services with Taco Bell, Inc. In 1986 he served as
Regional General Manager with Quaker State Minit Lube. In January of 1987 Mr.
Annis joined Red Robin International, Inc. as General Counsel and was
subsequently promoted to Vice President/Secretary and later Vice President Real
Estate Development/Secretary and General Counsel, the position he held until
joining Del Taco, Inc. in December of 1993. Mr. Annis received his J.D. Degree
from Whittier College.

C. Douglas Mitchell, Vice President and Corporate Controller. Mr. Mitchell
joined Del Taco, Inc. in August of 1994 as Controller and was promoted to his
current position in January 1996. From 1990 to 1994, Mr. Mitchell was a Senior
Audit Manager with Coopers & Lybrand. Prior to 1990, Mr. Mitchell held various
positions in finance and accounting with the Geneva Companies (a subsidiary of
Chemical Bank), Zaremba Corporation (a real estate developer) and The Dexter
Corporation (an international manufacturer of specialty materials). Mr. Mitchell
has a Bachelor of Science degree with a major in accounting from the University
of Southern California.

Timothy A. Hackbardt, Vice President, Marketing of Del Taco, Inc. Mr. Hackbardt
joined Del Taco, Inc. in November 1999. From November 1995 to November 1999, he
served as Vice President of Marketing of Taco Time International, Inc., Eugene,
OR. From September 1994 to November 1995, Mr. Hackbardt was Director of
Marketing for Wok Spirit Chinese Delivery restaurants in Newport Beach, CA. From
December 1992 to September 1994, Mr. Hackbardt was Director of Marketing for
Fosters Freeze International, Inc., San Luis Obispo, CA. Prior to then, Mr.
Hackbardt held various positions in the television and radio industry in sales
and sales management. Mr. Hackbardt is a graduate of Central Michigan University
where he received a Bachelor of Applied Arts, majoring in Broadcast and
Cinematic Arts and minoring in Marketing.

Shirlene Lopez, Vice President, Corporate Development & Design of Del Taco, Inc.
Ms. Lopez began her career with Del Taco in 1978 as an hourly employee and
advanced through the ranks to General Manager in 1984. Ms. Lopez was promoted to
the corporate office in 1989 as Human Resource Manager. In 1994, she was
promoted to Executive Project Manager reporting to the CEO and in 1996, to
Director of Corporate Development in charge of all interior image and design.
Ms. Lopez has held her current position since August 1997.


ITEM 11. MANAGEMENT REMUNERATION AND TRANSACTIONS

The partnership has no executive officers or directors and pays no direct
remuneration to any executive officer or director of its General Partner. The
partnership has not issued any options or stock appreciation rights to any
executive officer or director of its General Partner, nor does the partnership
propose to pay any annuity, pension or retirement benefits to any executive
officer or director of its General Partner. The partnership has no plan, nor
does the partnership presently propose a plan, which will result in any
remuneration being paid to any executive officer or director of the General
Partner upon termination of employment.


                                       21
<PAGE>   22

ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

(a)      No person of record currently owns more than five percent of limited
         partnership units of the partnership, nor was any person known of by
         the partnership to own of record and beneficially, or beneficially
         only, more than five percent of such securities.

(b)      Neither Del Taco, Inc., nor any executive officer or director of Del
         Taco, Inc. owns any limited partnership units of the partnership.

(c)      The partnership knows of no contractual arrangements, the operation or
         the terms of which may at a subsequent date result in a change in
         control of the partnership, except for provisions in the partnership
         agreement providing for removal of the General Partner by holders of a
         majority of the limited partnership units and if a material event of
         default occurs under the financing agreements of the General Partner.

ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

(a)      No transactions have occurred between the partnership and any executive
         officer or director of its General Partner.

         During 2000, the following transactions occurred between the
         partnership and the General Partner pursuant to the terms of the
         partnership agreement.

         (1)      The General Partner earned $5,038 as its one percent share of
                  the net income of the partnership.

         (2)      The General Partner received $5,336 in distributions relating
                  to its one percent interest in the partnership.

(b)      During 2000, the partnership had no business relationships with any
         entity of a type required to be reported under this item.

(c)      Neither the General Partner, any director or officer of the General
         Partner or any associate of any such person, was indebted to the
         partnership at any time during 2000 for any amount in excess of
         $60,000.

(d)      Not applicable.


                                       22
<PAGE>   23

                                     PART IV


ITEM 14(a)(1) AND (2). EXHIBITS, FINANCIAL STATEMENTS SCHEDULES, AND REPORTS ON
                       FORM 8-K


         Financial statement schedules:

                  Schedule III - Real Estate and Accumulated Depreciation

         Financial statement schedules other than those referred to above have
         been omitted because they are not applicable or not required.


(b)      No reports on Form 8-K were filed during the last quarter of 2000.

(c)      Exhibits required by Item 601 of Regulation S-K:

         1.       Incorporated herein by reference, Restated Certificate and
                  Agreement of Limited Partnership of Del Taco Restaurant
                  Properties I filed as Exhibit 3.01 to Partnership's
                  Registration Statement on Form S-11 as filed with the
                  Securities and Exchange Commission on December 17, 1982.

         2.       Incorporated herein by reference, Amendment to Restated
                  Certificate and Agreement of Limited Partnership of Del Taco
                  Restaurant Properties I.

         3.       Incorporated herein by reference, Form of Standard Lease to be
                  entered into by partnership and Del Taco, Inc., as lessee,
                  filed as Exhibit 10.02 to Partnership's Registration Statement
                  on Form S-11 as filed with the Securities and Exchange
                  Commission on December 17, 1982.


                                       23
<PAGE>   24

                 DEL TACO RESTAURANT PROPERTIES I - SCHEDULE III
                    REAL ESTATE AND ACCUMULATED DEPRECIATION
                                DECEMBER 31, 2000

<TABLE>
<CAPTION>
                                                                          Cost capitalized    Gross amount at
                                                    Initial cost           subsequent to      which carried at
                                                     to company             acquisition       close of period
                                           -------------------------------------------------------------------
                                               Land          Building &                      Land, buildings &
    Description                               & land          Improve-        Carrying         improvements
 (All Restaurants)         Encumbrances    improvements        ments           costs               Total
 -----------------         ------------    ------------      ----------       --------       -----------------
<S>                        <C>             <C>              <C>               <C>             <C>

Rialto, CA                  $       --      $  274,837      $  150,310         $  --            $  425,147
Moreno Valley, CA                   --         353,557         193,362            --               546,919
La Verne, CA                        --         452,423         247,433            --               699,856
Rancho Cucamonga, CA                --         293,817         160,690            --               454,507
Sacramento, CA                      --         260,516         142,478            --               402,994
Rancho Cucamonga, CA                --         217,332         118,861            --               336,193
                            ----------      ----------      ----------         -----            ----------

                            $       --      $1,852,482      $1,013,134         $  --            $2,865,616
                            ==========      ==========      ==========         =====            ==========

<CAPTION>
                                                                           Life on which
                                                                       depreciation in latest
    Description             Accumulated      Date of         Date         income statement
 (All Restaurants)          depreciation   construction    acquired         is computed
 -----------------          ------------   ------------    --------    ----------------------
<S>                         <C>            <C>             <C>         <C>

Rialto, CA                    $ 99,047         1984          1984          20(LI), 35(BI)
Moreno Valley, CA              127,416         1985          1985          20(LI), 35(BI)
La Verne, CA                   163,045         1985          1985          20(LI), 35(BI)
Rancho Cucamonga, CA           105,885         1985          1985          20(LI), 35(BI)
Sacramento, CA                  93,887         1985          1985          20(LI), 35(BI)
Rancho Cucamonga, CA            78,325         1985          1985          20(LI), 35(BI)
                              --------

                              $667,605
                              ========
</TABLE>


<TABLE>
<CAPTION>
                                                      Accumulated
                                      Restaurants     Depreciation
                                      -----------     ------------
<S>                                   <C>             <C>

Balances at December 31, 1997:        $2,865,616        $536,289
   Acquisitions                               --          43,772
   Sales                                      --              --
                                      ----------        --------
Balances at December 31, 1998:         2,865,616         580,061
   Acquisitions                               --          43,772
   Sales                                      --              --
                                      ----------        --------
Balances at December 31, 1999:         2,865,616         623,833
   Acquisitions                               --          43,772
   Sales                                      --              --
                                      ----------        --------
Balances at December 31, 2000:        $2,865,616        $667,605
                                      ==========        ========
</TABLE>


                                       24
<PAGE>   25

                                   SIGNATURES


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



                                               DEL TACO RESTAURANT PROPERTIES I
                                               ---------------------------------
                                               a California limited partnership

                                               Del Taco, Inc.
                                               General Partner



Date March 07, 2001                            Kevin K. Moriarty
     --------------                            ---------------------------------
                                               Kevin K. Moriarty
                                               Director, Chairman and Chief
                                               Executive Officer



Date March 07, 2001                            Michael L. Annis
     --------------                            ---------------------------------
                                               Michael L. Annis
                                               Vice President, Secretary and
                                               General Counsel




Date March 07, 2001                            Robert J. Terrano
     --------------                            ---------------------------------
                                               Robert J. Terrano
                                               Executive Vice President and
                                               Chief Financial Officer




Date March 07, 2001                            C. Douglas Mitchell
     --------------                            ---------------------------------
                                               C. Douglas Mitchell
                                               Vice President and Corporate
                                               Controller


                                       25