DSI REALTY INCOME FUND X



                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 2O549
                                   FORM 10-K
(Mark One)
[X] Annual  Report  Pursuant  to  Section  13 or 15 (d) of the Securities and
Exchange Act of 1934

For the fiscal year ended December 31, 2006, or

[ ] Transition  report  pursuant  to  Section  13 or 15(d) of the  Securities
Exchange  Act  of  1934

For  the  transition  period  from ______________ to ________________.

Commission File No. 33-5327.

DSI REALTY INCOME FUND X, a California Limited Partnership
(Exact name of registrant as specified in governing instruments)

_________California___________________________33-0195079_____
(State of other jurisdiction of               (I.R.S. Employer
incorporation or organization                 identification
                                              number

6700 E. Pacific Coast Hwy., Long Beach, California 9O8O3
(Address of principal executive offices)     (Zip Code)

Registrants telephone number, including area code-(562)493-3022

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

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

                     Units of Limited Partnership Interests
                               (Title of Class)

Indicate by check mark if the registrant is a well-known seasoned issuer, as
defined in Rule 405 of the Securities Act.
                        Yes [ ]  No [X]

Indicate by check mark if the registrant is not required to file reports
pursuant to Section 13 or Section 15(d) of the Exchange Act.
                        Yes [ ]  No [X]

Indicate by check mark,  whether the  registrant  (l) 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 9O days. Yes [X] No [ ]

Indicate by check mark if disclosure of delinquent  filers pursuant to Item
405 of Regulation S-K (Section 229.405 of this chapter) is not contained herein,
and will not be contained,  to the best of registrant's knowledge, in definitive
proxy or information  statements  incorporated  by reference in Part III of this
Form 10-K or any amendment to this Form 10-K. [X]

Indicate by check mark whether the registrant is a large accelerated filer, an
accelerated filer or a non-accelerated filer (as defined in Rule 12b-2 of the
Exchange Act).

  Large Accelerated Filer [ ]  Accelerated Filer [ ]  Non-accelerated Filer [X]

Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act).
                          Yes [ ]  No [X]

     The Registrant is a limited  partnership and there is no voting stock.  All
units of limited  partnership  sold to date are owned by  non-affiliates  of the
registrant. All such units were sold at $5OO.OO per unit.



                       DOCUMENTS INCORPORATED BY REFERENCE

Item 8. Registrant's Financial Statements for its fiscal year ended December 31,
     2006, incorporated by reference to Form 10-K, Part II.

Item 11.  Registrant's  Financial  Statements for its fiscal year ended December
     31, 2006, incorporated by reference to Form 10-K, Part III.

Item 12.  Registration  Statement  on  Form  S-11,  previously  filed  with  the
     Securities and Exchange  Commission  pursuant to Securities Act of 1933, as
     amended, incorporated by reference to Form 10-K Part III.

Item 13.  Registrant's  Financial  Statements for its fiscal year ended December
     31, 2006, incorporated by reference to Form 10-K, Part III.

                                     PART I


Item l.  BUSINESS

     Registrant, DSI Realty Income Fund X (the "Partnership") is a publicly-held
limited  partnership  organized under the California Uniform Limited Partnership
Act pursuant to a Certificate and Agreement of Limited Partnership  (hereinafter
referred to as "Agreement")  dated April 15, 1986. The General  Partners are DSI
Properties,  Inc.,  a  California  corporation,  Robert J.  Conway and Joseph W.
Conway, brothers. The General Partners are affiliates of Diversified Securities,
Inc., a  wholly-owned  subsidiary of DSI  Financial,  Inc. The General  Partners
provide similar services to other  partnerships.  Through its public offering of
Limited  Partnership  Units,  Registrant sold thirty-one  thousand seven hundred
eighty-three (31,783) units of limited partnership interests aggregating Fifteen
Million Eight Hundred  Ninety-One  Thousand Five Hundred Dollars  ($15,891,500).
The General  Partners  have retained a one percent (l%) interest in all profits,
losses and  distributions  (subject to certain  conditions)  without  making any
capital  contribution to the Partnership.  The General Partners are not required
to make any capital  contributions to the Partnership in the future.  Registrant
is engaged in the business of investing in and operating mini-storage facilities
with the primary objectives of generating,  for its partners, cash flow, capital
appreciation of its properties,  and obtaining  federal income tax deductions so
that  during  the  early  years  of  operations,   all  or  a  portion  of  such
distributable  cash may not  represent  taxable  income to its  partners.  Funds
obtained by Registrant  during the public offering period of its units were used
to acquire  five  mini-storage  facilities.  Registrant  does not intend to sell
additional limited partnership units. The term of the Partnership is fifty years
but it is anticipated  that Registrant will sell and/or refinance its properties
prior to the termination of the  Partnership.  The Partnership is intended to be
self-liquidating  and  it is  not  intended  that  proceeds  from  the  sale  or
refinancing of its operating  properties  will be reinvested.  Registrant has no
full time employees but shares one or more  employees  with other  publicly-held
limited partnerships sponsored by the General Partners. The General Partners are
vested  with  authority  as to the general  management  and  supervision  of the
business  and  affairs  of  Registrant.   Limited  Partners  have  no  right  to
participate  in the  management  or conduct of such  business  and  affairs.  An
independent   management   company  has  been  retained  to  provide  day-to-day
management  services  with  respect  to  all  of  the  Partnership's  investment
properties.

     The average occupancy levels for each of the Partnership's  five properties
for the years ended December 31, 2006 and 2005 were as follows:

Location of Property       Average Occupancy        Average Occupancy
                           Level for the            Level for the
                           Year Ended               Year Ended
                           Dec. 31, 2006            Dec. 31, 2005

Ryan Road
Warren, MI                      77%                      79%

Crestwood, IL                   83%                      82%

Groesbeck Hwy
Warren, MI                      78%                      75%

Forestville, MD                 74%                      70%

Troy, MI                        79%                      72%



     The  business in which the  Partnership  is engaged is highly  competitive.
Each of its  mini-storage  facilities  is located in or near a major urban area,
and  accordingly,   competes  with  a  significant  number  of  individuals  and
organizations  with respect to both the purchase and sale of its  properties and
for rentals.  Generally,  Registrant's business is not affected by the change in
seasons.


Item 1a. RISK FACTORS

Some Potential Losses Are Not Covered By Insurance.
We carry comprehensive liability, fire, extended coverage and rental loss
insurance on all of our Properties.  We believe the policy specifications and
insured limits of these policies are adequate and appropriate.  There are,
however, types of losses, such as lease and other contract claims and acts of
war that generally are not insured.  We cannot be assured that we will be able
to renew insurance coverage upon expiration of our policies in an adequate
amount or at reasonable prices. In addition, insurance companies may no longer
offer coverage against certain types of losses, such as losses due to terrorist
acts and mold or, if offered, these types of insurance may be prohibitively
expensive.  Should uninsured loss or a loss in excess from insured limits
occur, we could lose all or a portion of the capital we have invested in a
Property, as well as the anticipated future revenue from the Property.  In
such an event, we might nevertheless remain obligated for any mortgage debt
or other financial obligations related to the Property.  We cannot be assured
that material losses in excess of insurance proceeds will not occur in the
future.  If any of our Properties were to experience catastrophic loss, it
could seriously disrupt our operations, delay revenue and result in large
expenses to repair or rebuild the Property.  Such events could adversely
affect our cash flow and ability to make distributions to shareholders.

Because real estate is illiquid, we may not be able to sell Properties when
appropriate.
Real estate investments generally, mini-storage facilities like those that we
own, in particular, often cannot be sold quickly.  Consequently, we may not be
able to sell Properties when appropriate.  This could adversely affect our cash
flow and ability to make distributions.

Our operating costs might rise, which might reduce our profitability and have
an adverse affect on our cash flow and our ability to make distributions to
shareholders.
We might face higher operating expenses as a result of rising costs generally,
and in particular as a result of increased costs following a terrorist attack
or other catastrophic event.  For example, it might cost more in the future
for security, property/casualty and liability insurance, and property mainten-
ance.  As noted above, when our insurance policies expire, the cost of premiums
for comparable coverage might be significantly higher after such an event when
it is time to renew our coverage, which could then increase our operating
expenses and reduce or profitability and our cash flow.  Because of rising
costs in general, we might experience increases in our property maintenance
costs, such as for cleaning and electricity.  If operating expenses increase
dramatically, the availability of other comparable mini-storage facilities in
our specific geographic markets might limit our ability to increase rents,
which could reduce our profitability (if operating expenses increase without a
corresponding increase in revenues) and limit our ability to make distributions.

We face significant competition.
We compete with numerous other owners of mini-storage facilities for tenants.
Some of these competitors have significantly greater financial resources than
we do.  Such competition may reduce our ability to attract and keep and retain
tenants, and may increase vacancies, which increases may lower rental rates.
In addition, some of our competitors may be willing, because their properties
may have vacancy rates higher than those for our properties, to make space
available at lower prices than the space in our properties.  We cannot be
assured that this competition will not adversely affect our cash flow and
ability to make distributions.

Our ability to make distributions is subject to various risks.
We have been paying quarterly distributions since inception.  Our ability to
make distributions in the future will depend upon:

   -       Financial performance of our Property;
   -       The absence of significant expenditures relating to environmental
           and regulator matters; and
   -       Our ability to attract and maintain tenants.

Certain of these matters are beyond our control and any significant difference
between our expectations and actual results could have a material adverse
affect on our cash flow and our ability to make distributions.

Changes in the law may adversely affect our cash flow.
The Properties are subject to various regulatory requirements, such as those
relating to the environment, fire and safety.  Our failure to comply with
these requirements could result in the imposition of fines and damage awards.
Additionally, the cost to comply with any new or different regulation could
adversely affect our cash flow and our ability to make distributions.  While
we believe that the Properties are currently in material compliance with all
such requirements, we cannot be assured that these requirements will not change
our that newly imposed requirements will not require significant unanticipated
expenditures.

Should we incur long-term indebtedness, it will subject us to additional risks.
Like other real estate companies, should we incur indebtedness on our proper-
ties, we will be subject to risks normally associated with debt financing,
such as the insufficiency of cash flow to meet required debt service payment
obligations and the inability to refinance existing indebtedness.  If such
debt cannot be paid, refinanced or extended at maturity, in addition to our
failure to repay our debt, we may not be able to make distributions at expected
levels or at all.  Furthermore, an increase in interest expense could adversely
affect our cash flow and ability to make distributions to Limited Partners.
If we should not meet our debt service obligations, any Properties securing
such indebtedness could be foreclosed on, which would have a material adverse
affect on our cash flow and ability to make distributions and, depending on
the number of Properties foreclosed on, could threaten our continued viability.
Our organizational documents do not contain any limitation on our ability to
incur debt secured by our Properties.  Accordingly, we could place financing
on our Properties almost without restriction.  If we were to take such action,
the debt service could adversely affect our cash flow and ability to make dis-
tributions and would include the risk of default on such indebtedness. There
are no plans to incur any long-term indebtedness on any of the Partnership's
Properties.

Environmental problems at the Properties are possible and may be costly.
Federal, state and local laws, ordinances and regulations may require a current
or previous owner or operator of real estate to investigate and clean up hazard-
ous or toxic substances or releases at such property.  The owner or operator
may be forced to pay for property damage and for investigation and clean up
costs incurred by others in connection with environmental contamination.  Such
laws typically impose clean-up responsibility and liability without regard to
whether the owner or operator knew of or caused the presence of  contaminates.
Even if more than one person may have been responsible for the contamination,
each person covered by the environmental laws may be held responsible for all
the clean-up costs incurred.  In addition, third parties may sue the owner or
operator of a site for damages and costs resulting from environmental contamin-
ation emanating from that site.  These costs may be substantial and the presence
of such substances may adversely affect the owner's ability to sell or rent
such property or to borrow using such property as collateral.

Environmental laws that govern the presence, maintenance and removal of asbestos
require that owners or operators of buildings containing asbestos properly
manage and maintain the asbestos, notifying and train those who may come into
contact with asbestos and undertake special precautions, including removal or
other abatement, if asbestos would be disturbed during renovation or demolition
of a building.  Such laws may impose fines and penalties on building owners or
operators who fail to comply with these requirements and may allow third parties
to seek recovery from owners or operators for personal injury associated with
exposure to asbestos fibers.

To the best of our knowledge, asbestos was not used in the construction of any
of the Properties.  Tenants of the Partnership's mini-storage facilities are
prohibited from storing hazardous or toxic substances or from even bringing
hazardous or toxic substances onto the property.  To the best knowledge of the
General Partners, there are no instances of storage or release of hazardous or
toxic substances at any of the Partnership's Properties.  However, there can
be no guaranty that one or more tenants did not actually store such materials
or cause releases at any of the Partnership's Properties.  If these conditions
should occur, we may need to undertake a target remediation program which could
become costly and could necessitate the temporary location of some or all of
the Properties' tenants or require rehabilitation of the affected property.

Americans With Disabilities Act compliance can be costly.
Under the Americans With Disabilities Act of 1990 ("ADA"), all public accom-
modations and commercial facilities, must meet certain Federal requirements
related to access and use by disabled persons.  Compliance with the ADA re-
quirements could involve removal of structural barriers from certain disabled
persons' entrances, which could adversely affect our financial condition, and
results of operations.  Other Federal, state or local laws may require modifi-
cations to or restrict further renovations of our Properties with respect to
such accesses.  Although we believe that our Properties are currently in
material compliance with present requirements, non-compliance with the ADA or
similar or related laws or regulations could result in the United States govern-
ment imposing fines or private litigants being awarded damages against us.  In
addition, we do not know whether existing requirements will change or whether
compliance with future requirements will require significant unanticipated
expenditures.  Such costs may adversely affect our cash flow and ability to
make distributions.

Partnership's status as a limited partnership is dependent on compliance with
Federal income tax requirements.
Failure of the Partnership to be treated as a limited partnership would have
serious adverse consequences to holders of our Units.  If the IRS were to
successfully challenge the tax status of the Partnership for Federal income
tax purposes, the Partnership would be treatable as a corporation.  In such
event, the imposition of a corporate tax on the Partnership would reduce the
amount of cash available for distribution from such Partnership to the Limited
Partners.  We do not anticipate such a challenge.

We are dependent upon our key personnel whose continued service is not guar-
anteed.  We are dependent upon our independent property manager for experience
in managing mini-storage facilities.  While we believe we could find replace-
ments for these key personnel, loss of their services could adversely affect
our operations.



Item 1b. UNRESOLVED STAFF COMMENTS

     None.


Item 2.  PROPERTIES

     Registrant  owns a fee interest in five  mini-storage  facilities,  none of
which are subject to  long-term  indebtedness.  The  following  table sets forth
information regarding   properties owned  by the Partnership.

                                                                  2006   2005
Location          Size of  Net Rentable  No. of       Completion  Avg. Rent
                  Parcel   Area          Rental Units Date        Per. Sq. Ft.
Ryan Road,
Warren, MI        4.286 acres  53,779      494        9/30/87      8.86    8.75

Crestwood, IL     2.96 acres   51,055      463       11/25/87     10.11    8.88

Groesbeck Hwy,
Warren, MI        4.76 acres   59,281      493        l/23/88      8.27    7.66

Forestville,
MD                4.18 acres   56,461      527        8/06/88     11.53   10.86

Troy, MI          4.98 acres   79,201      498        6/17/88      8.28    7.52

Item 3.  LEGAL PROCEEDINGS

     Registrant is not a party to any material pending legal proceedings.

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

     None.

                                     PART II

Item 5.  MARKET FOR THE REGISTRANT'S COMMON EQUITY AND
                  RELATED STOCKHOLDER MATTERS

     Registrant,  a  publicly-held  limited  partnership,  sold  31,783  limited
partnership  units during its offering and currently has 943 limited  partners
of record.  There is no intention to sell additional  limited  partnership units
nor is there a market for these units.

     Average  cash  distributions  of $10.11 per Limited Partnership Unit were
declared and paid each quarter for the year ended December 31, 2006 and $10.30
per Limited Partnership Unit were declared and paid each quarter for the year
ended December 31, 2005 and $10.94 per Limited Partnership Unit were declared
and paid each quarter for the year ended December 31, 2004 and $10.96.



Item 6.  SELECTED FINANCIAL DATA
         FIVE YEARS ENDED DECEMBER 31,
         -------------------------------------------------------------------
                        2006         2005        2004       2003        2002
                        ----         ----        ----       ----        ----

TOTAL REVENUES
AND OTHER
INCOME                $2,760,191  $2,588,756  $2,678,680  $2,837,397  $3,076,030

TOTAL
EXPENSES               2,125,889   2,109,687   1,890,156   1,960,287   1,931,715
                      ---------- ----------- ----------- ----------- -----------

NET
INCOME                $  634,302  $  479,069  $  788,524  $  877,110  $1,144,315
                      ========== =========== =========== =========== ===========

TOTAL
ASSETS                $3,763,298  $4,288,375  $5,091,426  $5,557,881  $6,074,744
                      ========== =========== =========== =========== ===========

CASH FLOW FROM (USED IN):

OPERATING             $1,283,835  $1,160,892  $1,374,708  $1,448,782  $1,050,669
INVESTING                 (6,793)    (14,061)    (10,032)     (7,302)        -
FINANCING             (1,332,872) (1,359,511) (1,415,919) (1,407,500)(1,610,044)


NET INCOME
PER LIMITED
PARTNERSHIP
UNIT                  $    19.76  $    14.92  $    24.56  $    27.32 $    35.64
                      ========== =========== =========== =========== ===========

CASH
DISTRIBUTIONS
PER LIMITED
PARTNERSHIP
UNIT                  $    40.44  $    41.33  $    43.75  $    43.84  $    50.15
                      ========== =========== =========== =========== ===========





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


Critical Accounting Policies

Revenue recognition - Rental revenue is recognized using the accrual method
based on contractual amounts provided for in the lease agreements, which
approximates recognition on a straight-line basis.  The term of the lease
agreements is usually less than one year.



                         RESULTS OF OPERATIONS

2006 COMPARED TO 2005

Total revenues increased from $2,586,824 in 2005 to $2,759,332 in 2006, total
expenses increased from $2,109,687 to $2,125,889 and other income decreased
from $1,932 to $859, resulting in an increase in net income from $479,069
to $634,302.  The increase in rental revenues can be attributed to higher
occupancy and unit rental rates.  Occupancy levels for the Partnership's five
mini-storage facilities averaged 78.3% for the year ended December 31, 2006,
compared to 75.6% for the year ended December 31, 2005.  The Partnership
continued its advertising campaign to attract and keep new tenants in its
various mini-storage facilities.  Operating expenses increased approximately
$10,600 (1.1%) primarily as a result of increases in repairs and maintenance
and salaries and wages expenses, partially offset by decreases in advertising,
real estate tax and power and sweeping expenses.  General and administrative
expenses increased approximately $29,200 (11.2%) as a result of increases in
legal and professional and a bank and credit card fee expenses, partially off-
set by a decrease in office supplies and printing expenses.  The General
Partners incentive management fee, which is based on cash distributions to
Limited Partners, decreased as a result of a decrease in these distributions.
Property management fees, which are computed as a percentage of rental revenue,
increased as a result of the increase in rental revenue.

2005 COMPARED TO 2004

Total revenues decreased from $2,676,266 in 2004 to $2,586,824 in 2005,
total expenses increased from $1,890,156 to $2,109,687 and other income de-
creased from $2,414 to $1,932, resulting in a  decrease in net  income from
$788,524 to $479,069.  The  approximate  $89,400 (3.3%) decrease in  rental
revenues can be attributed to lower occupancy and unit rental rates. Occupancy
levels for the Partnership's five  mini-storage  facilities  averaged 75.6%
for the year  ended December 31, 2005, compared to 77.6% for the year ended
December 31, 2004.  The Partnership continued its advertising  campaign  to
attract and keep new tenants in its various mini-storage facilities. Operating
expenses  increased  approximately $120,100 (13.8%)  primarily as result of
increases in advertising, purchase of locks and packing material, real estate
taxes, salaries and wages, truck insurance and  maintenance and  power  and
sweeping expenses. General and administrative expenses increased approximately
$60,200 (30.1%) as a result of increases in  legal and  professional  fees,
equipment and computer lease expenses and office supplies and printing expenses.
The General Partners' incentive management fee, which is based on cash distri-
butions to Limited Partners, decreased as a result of a  decrease in  these
distributions.  Property management fees, which are computed as a percentage
of rental revenue, decreased as a result of the decrease in rental revenue.
decreased as a result of the decrease in rental revenue.

Operating expenses consists mainly of expenses such as yellow pages and other
advertising, utilities, repairs and maintenance, real estate taxes, salaries
and wages and their related expenses.  General and administrative expenses
consist mainly of expenses such as legal and professional, office supplies,
postage, accounting services and computer expenses.



                         LIQUIDITY AND CAPITAL RESOURCES

Net cash provided by operating activities increased approximately $122,900
(10.6%) in 2006 compared to 2005 primarily as a result of the increase in
net income before depreciation, increases in incentive management fee payable
to general partners and customer deposits and other liabilities, partially
offset by an increase in other assets.  Net cash provided by operating
activities decreased approximately $213,800 (15.6%) in 2005 compared to 2004
primarily as a result of the decrease in net income before depreciation,
partially offset by increases in incentive management fee payable to general
partners and customer deposits and other liabilities.

Cash used in investing activities, as set forth in the statements of cash
flows, consists of acquisitions of property for the Partnership's mini-storage
facilities in 2006, 2005 and 2004.  The  Partnership has no material commitments
for capital expenditures.

Cash used in financing activities,  as set forth in the statements of cash
flows,  consists solely of cash distributions to partners in 2006, 2005 and
2004 and payments on capital lease obligations starting in 2004. A special
distributions of 0.5% of capital contributed by Limited Partners were declared
and paid on December 15, 2004.

The  General  Partners  plan  to  continue  their  policy  of  funding  the
continuing improvement  and  maintenance  of Partnership  properties with cash
generated from operations. The Partnership anticipates that cash flows generated
from operations of the Partnership's rental real estate operations will be
sufficient to cover operating expenses and distributions for the next twelve
months and beyond.

The General  Partners  are not aware of any  environmental  problems  which
might  have  a  material  adverse  impact  on  the  financial  position  of
the Partnership.


LONG-TERM LIABILITIES, CONTRACTUAL OBLIGATIONS, AND OFF-BALANCE SHEET
ARRANGEMENTS


Long-Term Liabilities and Contractual Obligations. The following table summar-
izes our long-term liabilities, material obligations and commitments to make
future payments under certain contracts, including long-term debt obligations,
purchase commitments and operating leases.

					Payments due by period

					Less			More
					than 1	1-3	3-5	than 5
Contractual Obligations		Total	year	years	years	years

Long-Term Debt 			-	-	-	-	-
Capital (Finance) Lease 	84,375	43,875	40,500	-	-
Purchase Obligations		-	-	-	-	-
Other Long-Term Liablities	-	-	-	-	-
Reflected on the Registrant's
Balance Sheet under the GAAP
of the primary financial
Statements


                     QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

Summarized quarterly financial data for the years ended December 31, 2006 and
2005 was as follows:

                                  2006 Quarter Ended
                                  ------------------

                      March 31    June 30    September 30   December 31

Total revenues        $639,310    $673,280    $708,222       $738,520

Net income              75,496     128,861     152,619        277,326

Net income per limited
 partnership unit     $   2.35    $   4.01    $   4.75       $   8.65

Weighted average
 number of limited
 partnership units
 outstanding            31,783      31,783      31,783         31,783



                                  2005 Quarter Ended
                                  ------------------

                      March 31    June 30    September 30   December 31

Total revenues        $650,132    $640,897    $645,997       $649,798

Net income             144,707     107,419     149,058         77,885

Net income per limited
 partnership unit     $   4.51    $   3.35    $   4.64       $   2.42

Weighted average
 number of limited
 partnership units
 outstanding            31,783      31,783      31,783         31,783







Item 7a. QUANTITATIVE & QUALITATIVE DISCLOSURES ABOUT MARKET RISK

         None.


Item 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

         Attached  hereto as  Exhibit l is the  information  required  to be set
         forth as Item 8, Part II hereof.  See the financial statements.


Item 9.  CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON
                  ACCOUNTING AND FINANCIAL DISCLOSURE.

         None.

Item 9a. CONTROLS AND PROCEDURES

     The Partnership evaluated the effectiveness of its disclosure controls
     and procedures.  This evaluation was performed by the Partnership's
     Controller with the assistance of the Partnership's President and the
     Chief Executive Officer. These disclosure controls and procedures are
     designed to ensure that the information required to be disclosed by the
     Parnership in its periodic reports filed with the Securities and Exchange
     Commission (the "Commission") is recorded, processed summarized and
     reported, within the time periods specified by the Commission's rules
     and forms, and that the information is communicated to the certifying
     officers on a timely basis.  Based on this evaluation, the Partnership
     concluded that its disclosure controls and procedures were effective.
     There have been no significant changes in the Partnership's internal
     controls or in other factors that could significantly affect the internal
     controls subsequent to the date of their evaluation.

Item 9b. Other Information

     None.

                                    PART III

Item 10.  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT'S
                  GENERAL PARTNER

     The General Partners of Registrant are the same as when the Partnership was
formed, i.e., DSI Properties,  Inc., a California corporation,  Robert J. Conway
and Joseph W.  Conway,  brothers.  As of December 31,  2005,  Messrs.  Robert J.
Conway and Joseph W. Conway, each of whom own approximately 48.4% of the issued
and outstanding capital stock of DSI Financial,  Inc., a California corporation,
together  with Mr.  Joseph W.  Stok,  currently  comprise  the  entire  Board of
Directors of DSI Properties, Inc.

     Mr. Robert J. Conway is 73 years of age and is a licensed  California  real
estate  broker,  and since 1965 has been  President and a member of the Board of
Directors of  Diversified  Securities,  Inc.,  and since 1973  President,  Chief
Financial Officer and a member of the Board of Directors of DSI Properties, Inc.
Mr. Conway received a Bachelor of Science Degree from Marquette  University with
majors in Corporate Finance and Real Estate.

     Mr.  Joseph W.  Conway  is age 78 and has been  Executive  Vice  President,
Treasurer and a member of the Board of Directors of Diversified Securities, Inc.
since 1965 and since 1973 the Vice President,  Treasurer and member of the Board
of Directors of DSI  Properties,  Inc.  Mr.  Conway  received a Bachelor of Arts
Degree from Loras College with a major in Accounting.

     Mr.  Joseph  W.  Stok is age 84 and  has  been a  member  of the  Board  of
Directors of DSI  Properties,  Inc.  since 1994, a Vice President of Diversified
Securities,   Inc.  since  1973,  and  an  Account  Executive  with  Diversified
Securities, Inc. since 1967.


Item 11.  EXECUTIVE COMPENSATION (MANAGEMENT RENUMERATION AND
                  TRANSACTIONS)

     The  information  required  to be  furnished  in  Item  11 of  Part  III is
contained  in  Registrant's  Financial  Statements  for its  fiscal  year  ended
December 31, 2006,  which together with the report of its independent  auditors,
Deloitte & Touche LLP, is attached hereto as Exhibit 1 and  incorporated  herein
by this reference. In addition to such information:

     (a)  No annuity,  pension or retirement benefits are proposed to be paid by
          Registrant  to any of  the  General  Partners  or to  any  officer  or
          director of the corporate General Partner;

     (b)  No  standard or other  arrangement  exists by which  directors  of the
          Registrant are compensated;

     (c)  The  Registrant  has not  granted  any option to  purchase  any of its
          securities; and

     (d)  The Registrant has no plan, nor does the Registrant  presently propose
          a plan,  which  will  result  in any  remuneration  being  paid to any
          officer or director upon termination of employment.

ITEM 12.  SECURITY OWNERSHIP OF CERTAIN
          BENEFICIAL OWNERS AND MANAGEMENT

    The following table sets forth certain information regarding the beneficial
ownership of the Fund's limited partnership units as of December 31, 2006 of
(i) each person known to beneficially own more than 5% of the Fund's limited
partnership units(2), (ii) each director or director nominee of the Fund,
(iii) each executive officer of the Fund for whom information is given in the
Summary Compensation Table in this proxy statement, and (iv) all directors and
executive officers of the Fund.

TITLE OF        NAME OF                 NUMBER OF LP UNITS         PERCENT
CLASS          BENEFICIAL OWNER        BENEFICIALLY HELD(1)        OF CLASS
--------      -----------------        --------------------        --------

Limited
Partnership
Interest      Robert J. Conway            1,280 - Direct             4.02

Limited
Partnership
Interest      Joseph W. Conway               30 - Direct              *


*  Less than one percent of the Fund's limited partnership's units.

(1) Unless otherwise indicated, the address for each listed director or officer
    is c/o 6700 E. Pacific Coast Hwy. #150. As used in this table, "beneficial
    ownership" means the sole or shared power to vote or direct the voting
    or to dispose or direct the disposition of any security. For purposes of
    this table, a person is deemed to be the beneficial owner of units acquired
    before the date of this filing.

(2) As of  December  31,  2006,  no person of record  owned more than 5% of the
    limited partnership units of Registrant,  nor was any person known by
    Registrant to own of record and beneficiary,  or beneficially  only, more
    than 5% thereof.  The balance of the  information  required to be furnished
    in Item 12 of Part III is contained in  Registrant's Registration Statement
    on Form S-11,  previously filed  pursuant  to the  Securities  Act of  1933,
    as  amended,  and  which  is incorporated  herein  by this  reference.  The
    only  change  to the  information contained in said  Registration  Statement
    on Form S-11 is the fact that Messrs. Benes and Blakley have retired and
    Messrs. Robert J. Conway and Joseph W. Conway equity  interest in DSI
    Financial,  Inc.,  parent of DSI  Properties,  Inc., has increased. Please
    see information contained in Item 10 hereinabove.


Item 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

     The  information  required  to be  furnished  in  Item  13 of  Part  III is
contained  in  Registrant's  Financial  Statements  for its  fiscal  year  ended
December 31, 2006,  attached hereto as Exhibit l and incorporated herein by this
reference.


Item 14.  PRINCIPAL ACCOUNTANT FEES AND SERVICES

     Audit Fees

     The aggregate fees for professional services rendered by Deloitte & Touche
LLP for the audit of the Partnership's annual financial statements and for re-
view of the financial statements included in the Partnership's Quarterly Reports
on Form 10-Q for 2005 were $31,240 and for $29,640.


     Tax Fees

     The aggregate fees for professional services rendered by Deloitte Tax
LLP for tax compliance, tax advice and tax planning for 2006 were $20,713
and 2005 were $17,600.  Most of the fees related to preparation of the Part-
nership's tax returns.


                                     PART IV

Item 15.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON
                  FORM 8-K

     (a)(l) Attached hereto and incorporated herein by this reference as Exhibit
          l are Registrant's  Financial Statements and Supplemental Schedule for
          its year ended  December  31, 2006,  together  with the reports of its
          independent  auditors,  Deloitte  &  Touche.  See  Index to  Financial
          Statements and Supplemental Schedule.

     (a)(2) Attached hereto and incorporated herein by this reference as Exhibit
          2 is Registrant's  letter to its Limited Partners regarding its Annual
          Report for its fiscal year ended  December 31, 2006. (b) No reports on
          Form 8K were filed during the fiscal year ended December 31, 2006.

                                   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.

DSI REALTY INCOME FUND X
by:  DSI Properties, Inc., a
California corporation, as
General Partner


   /s/ ROBERT J. CONWAY
By_____________________________     Dated:  March 30, 2007
  ROBERT J. CONWAY, President
  (Chief Executive Officer, Chief
  Financial Officer, and Director)


   /s/ Joseph W. Conway
By____________________________      Dated:  March 30, 2007
  JOSEPH W. CONWAY (Executive
  Vice President and Director)

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

DSI REALTY INCOME FUND X
by:  DSI Properties, Inc., a
California corporation, as
General Partner


   /s/ Robert J. Conway
By:__________________________               Dated:  March 30, 2007
  ROBERT J. CONWAY, President,
  Chief Executive Officer, Chief
  Financial Officer, and Director


   /s/ Joseph W. Conway
By___________________________               Dated:  March 30, 2007
  JOSEPH W. CONWAY
  (Executive Vice President
  and Director)



                            DSI REALTY INCOME FUND X

                              CROSS REFERENCE SHEET

                        FORM 1O-K ITEMS TO ANNUAL REPORT

PART I, Item 3. There are no legal proceedings pending or threatened.

PART I, Item 4.  Not applicable.

PART II, Item 5.  Not applicable.

PART II, Item 6. The information required is contained in Registrant's Financial
Statements for its fiscal year ended December 31, 2006, attached as Exhibit l to
Form 10-K.

PART II, Item 8. See Exhibit l to Form 10-K filed herewith.

PART II, Item 9.  Not applicable.



                                    EXHIBIT l
DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)

SELECTED FINANCIAL DATA
FIVE YEARS ENDED DECEMBER 31,
         -------------------------------------------------------------------
                        2006         2005        2004       2003        2002
                        ----         ----        ----       ----        ----

TOTAL REVENUES
AND OTHER
INCOME                $2,760,191  $2,588,756  $2,678,680  $2,837,397  $3,076,030

TOTAL
EXPENSES               2,125,889   2,109,687   1,890,156   1,960,287   1,931,715
                      ---------- ----------- ----------- ----------- -----------

NET
INCOME                $  634,302  $  479,069  $  788,524  $  877,110  $1,144,315
                      ========== =========== =========== =========== ===========

TOTAL
ASSETS                $3,763,298  $4,288,375  $5,091,426  $5,557,881  $6,074,744
                      ========== =========== =========== =========== ===========

CASH FLOW FROM (USED IN):

OPERATING             $1,283,835  $1,160,892  $1,374,708  $1,448,782  $1,050,669
INVESTING                 (6,793)    (14,061)    (10,032)     (7,302)        -
FINANCING             (1,332,872) (1,359,511) (1,415,919) (1,407,500)(1,610,044)


NET INCOME
PER LIMITED
PARTNERSHIP
UNIT                  $    19.76  $    14.92  $    24.56  $    27.32 $    35.64
                      ========== =========== =========== =========== ===========

CASH
DISTRIBUTIONS
PER LIMITED
PARTNERSHIP
UNIT                  $    40.44  $    41.33  $    43.75  $    43.84  $    50.15
                      ========== =========== =========== =========== ===========



The following are  reconciliations  between the operating  results and partners'
equity per the financial  statements and the Partnership's income tax return for
the year ended December 31, 2006:


                                                          Net         Partners'
                                                        Income         Equity

Per financial statements                             $   634,302    $ 2,488,934
Excess book depreciation                                 218,857      3,564,751
Capitalization of syndication costs                                   1,694,248
Property acquisition costs                                            1,146,935
Deferred rental revenues                                 (11,062)        44,138
Accrued expenses                                         (13,400)        13,600
Fixed asset adjustments                                  (34,614)       (78,471)
Excess book distributions                                               321,041
Tax expense adjustment                                   (14,089)
Gain on sale of land                                                      2,272
Bad debt allowance                                        29,935
                                                     -----------    -----------
Per Partnership income tax return                    $   809,929   $  9,227,388
                                                     ===========    ===========
Net taxable income per limited
partnership unit                                     $     25.23
                                                     ===========


DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)


INDEX TO FINANCIAL STATEMENTS AND SUPPLEMENTAL SCHEDULE

                                                                            Page


FINANCIAL STATEMENTS:

    Report of Independent Registered Public Accounting Firm                 F-1

    Balance Sheets as of December 31, 2006 and 2005                         F-2

    Statements of Income for Each of the Three
        Years Ended December 31, 2006                                       F-3

    Statements of Changes in Partners' Equity (Deficit) for
        Each of the Three Years Ended December 31, 2006                     F-4

    Statements of Cash Flows for Each of the Three Years
        Ended December 31, 2006                                             F-5

    Notes to Financial Statements as of December 31, 2006
        and 2005, and for Each of the Three Years Ended
        December 31, 2006                                                   F-6


SUPPLEMENTAL SCHEDULE:

    Schedule III - Real Estate and Accumulated Depreciation                F-10


SCHEDULES OMITTED:

Financial  statements and schedules not listed above are omitted  because of the
     absence  of  conditions  under  which  they are  required  or  because  the
     information is included in the financial  statements named above, or in the
     notes thereto.



REPORT OF INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM

To the Partners of
DSI Realty Income Fund X:

We have audited the accompanying  balance sheets of DSI Realty Income Fund X, a
California  Limited  Partnership (the  "Partnership") as of December 31, 2006
and 2005, and the related  statements of income,  changes in partners' equity
(deficit), and cash flows for each of the three years in the period ended
December 31, 2006.  Our audits also included the supplemental schedule listed
in the Index at Item 15.  These financial statements and the supplemental
schedule are the responsibility of the Partnership's management. Our
responsibility is to  express  an opinion on the financial statements and
supplemental schedule based on our audits.

We  conducted  our  audits  in  accordance  with  the standards of the Public
Company Accounting Oversight Board (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.  The Partnership
is not required to have, nor were we engaged to perform, an audit of its
internal control over financial reporting.  Our audits included consideration
of internal control over financial reporting as a basis for designing audit
procedures that are  appropriate in the  circumstances, but  not  for the
purpose of  expressing an  opinion on the  effectiveness of the Partnership's
internal control over financial reporting.  Accordingly we express no such
opinion. An audit also includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements, assessing the account-
ing 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,  such  financial  statements  present  fairly, in all material
respects,  the  financial  position of DSI Realty Income Fund X at December 31,
2006 and 2005,  and the results of its operations and its cash flows for each
of the  three  years  in the  period ended  December  31,  2006, in  conformity
with accounting principles generally accepted in the United States of  America.
Also, in  our  opinion, such supplemental 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.

/s/ Deloitte & Touche LLP
_______________________________________
Deloitte & Touche LLP
Los Angeles, California

March 30, 2007




DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)

BALANCE SHEETS
DECEMBER 31, 2006 AND 2005
--------------------------------------------------------------------------------


ASSETS                                                  2006             2005

CASH AND CASH EQUIVALENTS                           $   601,812      $   657,642

PROPERTY, net (Note 3)                                2,934,830        3,508,877

OTHER ASSETS                                            226,656          121,856
                                                    -----------      -----------
TOTAL                                               $ 3,763,298      $ 4,288,375
                                                    ===========      ===========

LIABILITIES AND PARTNERS' EQUITY

LIABILITIES:
Distribution due partners (Note 4)                  $   321,041      $   321,041
Incentive management fee payable to
general partners (Note 4)                               178,208           62,632
Property management fees payable (Note 6)               409,337          408,719
Customer deposits and other liabilities                 286,645          229,346
Capital lease obligations (Note 3)                       79,133          113,747
                                                    -----------      -----------
Total liabilities                                     1,274,364        1,135,485
                                                    -----------      -----------
PARTNERS' EQUITY (DEFICIT)(Note 4):
General partners                                       (117,138)       (110,498)
Limited partners (31,783 limited
partnership units outstanding
at December 31, 2006 and 2005)                        2,606,072        3,263,388
                                                   ------------      -----------
Total partners' equity                                2,488,934        3,152,890
                                                   ------------      -----------
TOTAL                                               $ 3,763,298      $ 4,288,375
                                                   ============      ===========

See notes to financial statements.

<PAGE>

DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)

STATEMENTS OF INCOME
THREE YEARS ENDED DECEMBER 31, 2006
--------------------------------------------------------------------------------


                                               2006         2005         2004

REVENUES:
Rental                                      $2,759,332   $2,586,824   $2,676,266
                                            ----------   ----------   ----------

EXPENSES:
 Depreciation                                  580,840      605,188      561,252
 Interest                                        5,886        7,893          -
 Operating                                     998,531      987,910      867,829
 General and administrative                    289,479      260,304      200,076
 General partners' incentive
  management fee (Note 4)                      115,576      119,048      126,421
 Property management                           135,577      129,344      134,578
                                            ----------   ----------   ----------
Total expenses                               2,125,889    2,109,687    1,890,156
                                            ----------   ----------   ----------
OPERATING INCOME                               633,443      477,137      786,110

OTHER INCOME -
Interest income                                    859        1,932        2,414
                                            ----------   ----------   ----------
NET INCOME                                  $  634,302   $  479,069   $  788,524
                                            ==========   ==========   ==========
AGGREGATE NET INCOME ALLOCATED
TO (Note 4):
Limited partners                            $  627,959   $  474,278   $  780,639
General partners                                 6,343        4,791        7,885
                                            ----------   ----------   ----------
TOTAL                                       $  634,302   $  479,069   $  788,524
                                            ==========   ==========   ==========
NET INCOME PER LIMITED PARTNERSHIP
UNIT (Notes 2 and 4)                        $    19.76   $    14.92   $    24.56
                                            ==========   ==========   ==========

See notes to financial statements.



DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)

STATEMENTS OF CHANGES IN PARTNERS' EQUITY (DEFICIT)
THREE YEARS ENDED DECEMBER 31, 2006
--------------------------------------------------------------------------------


                                         General       Limited
                                        Partners       Partners         Total


 BALANCE, JANUARY 1, 2004             $ (95,901)     $4,708,598      $4,612,697

 Net income                               7,885         780,639         788,524

 Distributions                          (14,046)     (1,390,623)     (1,404,669)
                                        -------      ----------      ----------
 BALANCE, DECEMBER 31, 2004            (102,062)      4,098,614       3,996,552

 Net income                               4,791         474,278         479,069

 Distributions                          (13,227)     (1,309,504)     (1,322,731)
                                        -------      ----------      ----------
 BALANCE, DECEMBER 31, 2005            (110,498)      3,263,388       3,152,890

 Net income                               6,343         627,959         634,302

 Distributions                          (12,983)     (1,285,275)     (1,298,258)
                                        -------      ----------      ----------
 BALANCE, DECEMBER 31, 2006           $(117,138)     $2,606,072      $2,488,934
                                        =======      ==========      ==========


See notes to financial statements.



DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)

STATEMENTS OF CASH FLOWS
THREE YEARS ENDED DECEMBER 31, 2006
--------------------------------------------------------------------------------


                                            2006          2005          2004

CASH FLOWS FROM OPERATING ACTIVITIES:
 Net income                              $  634,302    $  479,069    $  788,524
 Adjustments to reconcile net
  income to net cash provided
  by operating activities:
  Depreciation                              580,840       605,188       561,252
  Changes in assets and liabilities:
   Other assets                            (104,800)         (756)       21,596
   Incentive management fee
    payable to general partners             115,576        60,510          (254)
   Property management fee payable              618          (160)         (331)
   Customer deposits and other
    liabilities                              57,299        17,041         3,921
                                         -----------   -----------   -----------
  Net cash provided by operating
  activities                              1,283,835     1,160,892     1,374,708
                                         -----------   -----------   -----------
CASH FLOWS FROM INVESTING ACTIVITIES -
  Additions to property                      (6,793)      (14,061)      (10,032)
                                         -----------   -----------   ----------
CASH FLOWS FROM FINANCING ACTIVITIES:
Distributions to partners                (1,298,258)   (1,326,904)   (1,404,669)
Payments on capital lease obligations       (34,614)      (32,607)      (11,250)
                                         -----------   -----------   ----------
  Net cash used in
   financing activities                  (1,332,872)   (1,359,511)   (1,415,919)
                                         -----------   -----------   -----------

NET DECREASE IN CASH AND
CASH EQUIVALENTS                            (55,830)     (212,680)      (51,243)

CASH AND CASH EQUIVALENTS,
AT BEGINNING OF YEAR                        657,642       870,322       921,565
                                        -----------   -----------   ------------
CASH AND CASH EQUIVALENTS,
AT END OF YEAR                          $   601,812   $   657,642   $   870,322
                                        ===========   ===========   ============

SUPPLEMENTAL DISCLOSURE OF CASH FLOW
INFORMATION - Cash paid for interest    $     5,886   $     7,893   $      -
                                        ===========   ===========   ============

NON CASH INVESTING ACTIVITIES:
Acquisition of trucks utilizing
capital leases                          $     -       $     -       $   157,604
                                        ===========   ===========   ============

Distribution due partners
included in partners' equity            $   321,041   $   321,041   $   325,214
                                        ===========   ===========   ============


See notes to financial statements.



DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)

NOTES TO FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2006 AND 2005,
AND FOR EACH OF THE THREE YEARS
ENDED DECEMBER 31, 2006


1.   GENERAL

     DSI Realty  Income Fund X, a California  Real Estate  Limited  Partnership
     (the  "Partnership"),  has three general partners (DSI  Properties,  Inc.
     Robert J. Conway, and Joseph W. Conway) and limited partners owning 31,783
     limited partnership  units,  which  were  purchased for $500 a unit.  The
     general partners have made no capital  contributions to the Partnership and
     are not required to make any capital contribution in the future.  The
     Partnership has a maximum life of 50 years and was formed on May 1, 1986,
     under the California Uniform Limited Partnership Act for the primary
     purpose of acquiring and operating real estate.

     The Partnership has acquired five mini-storage properties, two of which
     are located in Warren, Michigan; one in Crestwood, Illinois; one in Troy,
     Michigan; and one in Forestville, Maryland.  The facilities were acquired
     from Dahn Corporation ("Dahn").  Dahn is not affiliated with the
     Partnership.  Dahn is affiliated with other partnerships in which DSI
     Properties, Inc., Robert J. Conway and Joseph W. Conway are the general
     partners (Note 6).

2.   SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

     Cash and Cash Equivalents - The Partnership classifies its short-term
     investments purchased with an original maturity of three months or less
     as cash equivalents.

     Property and Depreciation - Property is recorded at cost and is composed of
     mini-storage facilities.  Depreciation is provided using the straight-line
     method over an estimated useful life of twenty years for the facilities.
     Building improvements are depreciated over a five-year period.  Property
     under capital leases is amortized over the lives of the respective leases
     or the estimated useful lives of the assets.

     Income Taxes - No  provision  has  been  made  for income  taxes  in the
     accompanying financial statements.  The taxable  income or  loss of  the
     Partnership is allocated to each partner in accordance with the terms of
     the Agreement of Limited Partnership.  Each partner's tax status, in turn,
     determines the appropriate income tax for its allocated share of the
     Partnership taxable income or loss.  The net difference between the
     basis of the Partnership's assets and liabilities for federal income tax
     purposes and as reported for financial statement purposes for the year
     ended December 31, 2006 is $175,627.

     Revenues - Rental revenue is recognized using the accrual method based
     on contractual amounts provided for in the lease agreements, which
     approximates recognition on a straight line basis.  The term of the lease
     agreements is usually less than one year.

     Net Income per Limited Partnership Unit - Net income per limited
     partnership unit is computed by dividing net income allocated
     to the limited partners by the weighted average number of limited
     partnership units outstanding during each year.

     Estimates - The preparation of financial statements in conformity with
     accounting principles generally accepted in the United States of America
     requires the Partnership's management to make 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.

     Impairment of Long-Lived Assets - The Partnership regularly reviews
     long-lived assets for impairment whenever events or changes in
     circumstances indicate that the carrying amount of the asset may not
     be recoverable.  If the sum of the expected undiscounted future cash
     flows is less than the carrying amount of the asset, the Partnership
     would recognize an impairment to the extent the carrying value exceeded
     the fair market value of the property.  No impairment losses were recog-
     nized in 2006, 2005 or 2004.

     Fair Value of Financial Instruments - For all Financial instruments,
     inclueing cash and cash equivalents, other assets, distributions due
     partners, incentive management fee payable to general partners, property
     management fee payable, customer deposits and other liabilities, carry-
     ing values approximate fair values because of the short maturity of
     those instruments.  The carrying value of the capital lease obligations
     approximates fair value because the terms of the instrument are similar
     to terms available to the Partnership for similar types of leasing
     agreements.

     Concentrations of Credit Risk - Financial instruments that potentially
     subject the Partnership to concentrations of credit risk consist primarily
     of cash equivalents and rent receivables.  The Partnership places its cash
     equivalents with high credit quality institutions.

     Recent Accounting Pronouncement - In September 2006, the Financial Account-
     ing Standards Board issued Statement of Financial Accounting Standards
     ("SFAS") No. 157, "Fair Value Measurements." SFAS No. 157 defines fair
     value, establishes a framework for measuring fair value and expands
     disclosures about fair value measurements.  The Partnership is required
     to adopt SFAS No. 157 for fiscal year 2008 and does not expect its adop-
     tion to have a material effect on the Partnership's results of operations
     or financial condition.

3.   PROPERTY

     The total cost of property and accumulated depreciation at December 31,
     2006 and 2005, is as follows:


                                                    2006                2005

     Land                                        $ 2,076,627        $ 2,076,627
     Buildings and improvements                   10,891,728         10,884,935
     Rental trucks under capital leases              157,604            157,604
                                                 -----------        ------------
     Total                                        13,125,959         13,119,166
     Accumulated depreciation                    (10,191,129)        (9,610,289)
                                                 -----------        -----------
     Property - net                              $ 2,934,830        $ 3,508,877
                                                 ===========        ===========

     Depreciation expense of $40,244 and $40,244 was recorded on the rental
     trucks under capital leases in 2006 and 2005, respectively.

     The Partnership leases certain vehicles under agreements that meet the
     criteria for classification as capital leases  which expire in 2008.
     Future minimum lease payments under these capital leases at December 31,
     2006 are summarized as follows:

     2007                                            $  43,875
     2008                                               40,500
                                                      --------
     Total future minimum payment obligations           84,375
     Less interest portion                               5,242
                                                      --------
     Present value of net minimum lease payments      $ 79,133
                                                      ========


4.  ALLOCATION OF PROFITS AND LOSSES AND GENERAL PARTNERS' INCENTIVE
    MANAGEMENT FEES

     Under the Agreement of Limited Partnership, the general partners are to
     be allocated 1% of the net profits or net losses from operations, and
     the limited partners are to be allocated the balance of the net profit
     or loss from operations in proportion to their limited partnership
     interests.The general partners are also entitled to receive a percentage,
     based on a predetermined formula, of any cash distribution from the sale,
     other disposition, or refinancing of a real estate project.

     In addition, the general partners are entitled to an incentive management
     fee for supervising the operations of the Partnership.  The fee is to be
     paid in an amount equal to 9% per annum of the Partnership distributions
     made from cash available for distribution, calculated as cash generated
     from operations less capital expenditures,and the payment of such fee is
     subordinated to a cumulative return to the limited partners of 8.1% of
     the offering proceeds.


5.   BUSINESS SEGMENT INFORMATION

     The following disclosure about segment reporting of the Partnership is
     made in accordance with the requirements of SFAS No. 131, "Disclosures
     About Segments of an Enterprise and Related Information."  The Partner-
     ship operates under a single segment; storage facility operations, under
     which the Partnership rents its storage facilities to its customers on
     a need basis and charges rent on a predetermined rate on a predetermined
     rate.

6.   RELATED-PARTY TRANSACTIONS

     The Partnership has entered into management agreements with Dahn to
     operate their mini-storage facilities.  The management agreeemtn provides
     for a management fee equal to 5% of gross revenue from operations, which
     is defined as the entire amount of all receipts from the renting or leas-
     ing of storage compartments and sale of locks.  The management agreement
     is renewable annually.  Dahn earned management fees equal to $135,577,
     $129,344, and $134,578 for the years ended December 31, 2006, 2005, and
     2004, respectively.  Amounts payable to Dahn at December 31, 2006 and
     2005, were $409,337 and $408,719, respectively.

     In 2004, the Partnership entered into truck lease agreements with KMD
     Trucks, LLC ("KMD").  The president of Dahn, Brian Dahn, is also a
     member of KMD.  The truck lease is a 48-month lease with monthly payments
     in the amount of $750 (see Note 3).



DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)

SCHEDULE III
REAL ESTATE AND ACCUMULATED DEPRECIATION
--------------------------------------------------------------------------------


<TABLE>
<CAPTION>

                                                    Costs Capitalized
                                 Initial Cost to      Subsequent to    Gross Amount at Which Carried
                                   Partnership         Acquisition           at Close of Period
                               -------------------  -----------------  -----------------------------
                                        Buildings                               Buildings                         Date
                                           and       Improve- Carrying             and                    Accum.   of   Date
Description       Encumbrances   Land  Improvements    ments   Costs     Land   Improvements   Total     Deprec.  Const. Acq. Life

MINI-U-STORAGE
<S>                   <C>     <C>       <C>         <C>            <C>         <C>        <C>         <C>         <C>   <C>   <C>

Ryan Road, Warren
 Michigan             None    $264,544  $1,715,183  $ 11,230         $264,544  $1,726,413  $1,990,957 $1,642,620  12/87 02/87 20 Yrs
Crestwood,Illinois    None     205,960   1,631,179    13,656          205,960   1,644,835   1,850,795  1,562,002  12/87 04/87 20 Yrs
Grosebeck Highway
 Warren, Michigan     None     314,517   1,760,657    88,102          314,517   1,848,759   2,163,276  1,747,685  01/88 04/87 20 Yrs
Forestville, Maryland None     755,000   2,278,110    20,082          755,000   2,298,192   3,053,192  2,138,255  07/88 08/87 20 Yrs
Troy, Michigan        None     536,606   3,152,736   220,793          536,606   3,373,529   3,910,135  3,020,085  06/88 06/88 20 Yrs
                              --------  ----------   -------         --------  ----------  ---------- ----------
                            $2,076,627 $10,537,865  $353,863       $2,076,627 $10,891,728 $12,968,355 $10,110,647
                            ==========  ==========  ========       ==========  ========== =========== ==========
</TABLE>

                                                     Real Estate     Accumulated
                                                        at Cost     Depreciation

               Balance, December 31, 2004             $12,947,501     $9,005,101
                 Additions                                 14,061        564,950
                                                      -----------     ----------
               Balance, December 31, 2005              12,961,562      9,570,051
                 Additions                                  6,793        540,596
                                                      -----------     ----------
               Balance, December 31, 2006             $12,968,355    $10,110,647
                                                      ===========    ===========


<PAGE>

                                    EXHIBIT 2

                                 March 30, 2007

                      ANNUAL REPORT TO LIMITED PARTNERS OF

                            DSI REALTY INCOME FUND X

Dear Limited Partner:

     This report  contains the  Partnership's  balance sheets as of December 31,
2006 and 2005, and the related statements of income, changes in partners' equity
(deficit) and cash flows for each of the three years ended December 31, 2006
accompanied by a report of independent registered public accounting firm. The
Partnership owns five mini-storage facilities including two in Warren, MI. The
Partnership's properties were each purchased for all cash and funded solely
from subscriptions for limited partnership interests without the use of mortgage
financing.

     Your attention is directed to the section entitled Management's  Discussion
and Analysis of Financial  Condition and Results of  Operations  for the General
Partners'  discussion and analysis of the financial statements and operations of
the Partnership.

     Average  occupancy levels for each of the  Partnership's five properties
for the years ended December 31, 2006 and 2005 were as follows:


Location of Property               Average Occupancy          Average Occupancy
                                   Levels for the             Levels for the
                                   Year Ended                 Year Ended
                                   Dec. 31, 2006              Dec. 31, 2005


Ryan Road
Warren, MI                              77%                      79%

Crestwood, IL                           83%                      82%

Groesbeck Hwy
Warren, MI                              78%                      75%

Forestville, MD                         74%                      70%

Troy, MI                                79%                      72%




     We will keep you informed of the activities of DSI Realty Income Fund X as
they develop.  If you have any questions,  please contact us at your convenience
at (562) 493-3022.

     If you would like a copy of the  Partnership's  Annual  Report on Form 10-K
for the year ended  December  31, 2006 which was filed with the  Securities  and
Exchange  Commission (which report includes the enclosed Financial  Statements),
we will forward a copy of the report to you upon written request.

                                                     Very truly yours,

                                                     DSI REALTY INCOME FUND X
                                                     By:  DSI Properties, Inc.


                                                        /s/ ROBERT J. CONWAY
                                                   By___________________________
                                                     ROBERT J. CONWAY, President






                          CERTIFICATIONS

    I, Robert J. Conway, certify that:

    1.  I have reviewed this annual report on Form 10-K of DSI Realty Income
    Fund X;

    2.  Based on my knowledge, this report does not contain any untrue
    statement of a material fact or omit to state a material fact necessary
    to make the statements made, in light of the circumstances under which
    such statements were made, not misleading with respect to the period cover-
    ed by this report.

    3.  Based on my knowledge, the financial statements, and other financial
    information included in this report, fairly present in all material
    respects the financial condition, results of operations and cash flows of
    the registrant as of, and for, the periods presented in this report;

    4.  The registrant's other certifying officer and I are responsible for
    establishing and maintaining disclosure controls and procedures (as defined
    in Exchange Act Rules 13a-15e and 15d-15e) for the registrant and have:

         a)  designed such disclosure controls and procedures, or caused such
         disclosure controls and procedures to be designed under our super-
         vision, to ensure that material information relating to the registrant,
         including its consolidated subsidiaries, is made known to us by others
         within those entities, particularly during the period in which this
         report is being prepared;

         b)  evaluated the effectiveness of the registrant's disclosure controls
         and procedures and presented in this report our conclusions about the
         effectiveness of the disclosure controls and procedures as of the end
         of the period covered by this report based on such evaluation; and

         c)  disclosed in this report any change in the registrant's internal
         control over financial reporting that occurred during the registrant's
         most recent fiscal quarter (the registrant's fourth fiscal quarter in
         the case of an annual report) that has materially affected, or is
         reasonably likely to materially affect, the registrant's internal
         control over financial reporting; and

    5.  The registrant's other certifying officer and I have disclosed based
    on our most recent evaluation of internal control over financial reporting,
    to the registrant's auditors and the audit committee of the registrant's
    board of directors (or persons performing the equivalent functions):

         a)  all significant deficiencies and material weaknesses in the design
         or operation of internal control over financial reporting which are
         reasonably likely to adversely affect the registrant's ability to re-
         cord, process, summarize and report financial information; and

         b)  any fraud, whether or not material, that involves management or
         other employees who have a significant role in the registrant's in-
         ternal control over financial reporting.

    Date:  March 30, 2007


    /s/ ROBERT J. CONWAY
    ___________________________
    Robert J. Conway
    Chief Executive Officer




                          CERTIFICATIONS

    I, Richard P. Conway, certify that:

    1.  I have reviewed this annual report on Form 10-K of DSI Realty Income
    Fund X;

    2.  Based on my knowledge, this annual report does not contain any untrue
    statement of a material fact or omit to state a material fact necessary
    to make the statements made, in light of the circumstances under which
    such statements were made, not misleading with respect to the period cover-
    ed by this annual report.

    3.  Based on my knowledge, the financial statements, and other financial
    information included in this annual report, fairly present in all material
    respects the financial condition, results of operations and cash flows of
    the registrant as of, and for, the periods presented in this annual report;

    4.  The registrant's other certifying officer and I are responsible for
    establishing and maintaining disclosure controls and procedures (as defined
    in Exchange Act Rules 13a-15e and 15d-15e) for the registrant and have:

         a)  designed such disclosure controls and procedures, or caused such
         disclosure controls and procedures to be designed under our super-
         vision, to ensure that material information relating to the registrant,
         including its consolidated subsidiaries, is made known to us by others
         within those entities, particularly during the period in which this
         annual report is being prepared;

         b)  evaluated the effectiveness of the registrant's disclosure controls
         and procedures and presented in this report our conclusions about the
         effectiveness of the disclosure controls and procedures as of the end
         of the period covered by this report based on such evaluation; and

         c)  disclosed in this report any change in the registrant's internal
         control over financial reporting that occurred during the registrant's
         most recent fiscal quarter (the registrant's fourth fiscal quarter in
         the case of our annual report) that has materially affected, or is
         reasonably likely to materially affect, the registrant's internal
         control over financial reporting; and

    5.  The registrant's other certifying officer and I have disclosed based
    on our most recent evaluation of internal controls over financial reporting,
    to the registrant's auditors and the audit committee of the registrant's
    board of directors (or persons performing the equivalent functions):

         a)  all significant deficiencies and material weaknesses in the design
         or operation of internal control over financial reporting which are
         reasonably likely to adversely affect the registrant's ability to re-
         cord, process, summarize and report financial information; and

         b)  any fraud, whether or not material, that involves management or
         other employees who have a significant role in the registrant's in-
         ternal controls over financial reporting.

    Date:  March 30, 2007


    /s/ RICHARD P. CONWAY
    ______________________________
    Richard P. Conway
    Vice President


EXHIBIT 3
                       CERTIFICATION PURSUANT TO
                        18 U.S.C. SECTION 1350,
                        AS ADOPTED PURSUANT TO
                SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002



     In connection with the Annual Report of DSI Realty Income Fund X (the
"Partnership") on Form 10-K for the period ending December 31, 2006 as filed
with the Securities and Exchange Commission on the date hereof (the "Report"),
I, Robert J. Conway, Chief Executive Officer of the Partnership, certify,
pursuant to 18 U.S.C. 1350, as adopted pursuant to 906 of the Sarbanes-Oxley
Act of 2002, that:

     (1) The Report fully complies with the requirements of section 13(a) or
15(d) of the Securities Exchange Act of 1934; and

     (2) The information contained in the Report fairly presents, in all
material respects, the financial condition and result of operations of the
Partnership.


                                    /s/ ROBERT J. CONWAY
                                    ______________________________
                                    Robert J. Conway
                                    Chief Executive Officer
                                    March 30, 2007





EXHIBIT 4
                       CERTIFICATION PURSUANT TO
                        18 U.S.C. SECTION 1350,
                        AS ADOPTED PURSUANT TO
                SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002



     In connection with the Annual Report of DSI Realty Income Fund X (the
"Partnership") on Form 10-K for the period ending December 31, 2006 as filed
with the Securities and Exchange Commission on the date hereof (the "Report"),
I, Richard P. Conway, Vice President of the Corporate General Partner, certify,
pursuant to 18 U.S.C. 1350, as adopted pursuant to 906 of the Sarbanes-Oxley
Act of 2002, that:

     (1) The Report fully complies with the requirements of section 13(a) or
15(d) of the Securities Exchange Act of 1934; and

     (2) The information contained in the Report fairly presents, in all
material respects, the financial condition and result of operations of the
Partnership.


                                    /s/ RICHARD P. CONWAY
                                    _______________________________
                                    Richard P. Conway
                                    Vice President
                                    March 30, 2007