UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington D.C. 20549
                                      --------

                                    FORM 10-Q

                Quarterly Report Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934

For the quarter ended September 30, 2000     Commission File Number 2-93980

                           FJS PROPERTIES FUND I, L.P.
             (Exact name of registrant as specified in its charter)

               Delaware                                     13-3252067
            (State or other jurisdiction of              (I.R.S. Employer
            incorporation or organization)              Identification No.)

            264 Route 537 East
            Colts Neck, New Jersey                             07722
            (Address of principal executive offices)        (Zip code)

Registrant's telephone number, including area code:       (732) 542-9209

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 of 15(d) of the  Securities  and  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   [ ]

Authorized 100,000 limited partnership  interests of which 16,788 have been sold
as of November 7, 2000.
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FJS PROPERTIES FUND I, L.P.
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INDEX
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Part I: FINANCIAL INFORMATION

Item 1:  Financial Statements

         Balance sheets as of September 30, 2000 [Unaudited]
         and December 31, 1999....................................     1

         Statements of Operations for the three and nine months ended
         September 30, 2000 and 1999 [Unaudited]..................     2

         Statements of Partners' Capital (Deficit) for the nine months
         ended September 30, 2000 [Unaudited].....................     3

         Statements of Cash Flows for the nine months ended
         September 30, 2000 and 1999 [Unaudited]..................     4

         Notes to Financial Statements [Unaudited]................     5

Item 2:  Management's Discussion and Analysis of Financial Condition
         and Results of Operations................................     6

Part III: OTHER INFORMATION

Item 6:  Exhibits and Reports on Form 8-K.........................     8

Signature.........................................................     9






<PAGE>



PART 1 - FINANCIAL INFORMATION
Item 1:  Financial Statements

FJS PROPERTIES FUND I, L.P.
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BALANCE SHEETS
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                                                      September 30, December 31,
                                                         2 0 0 0       1 9 9 9
                                                       [Unaudited]
Assets:
Current Assets:
  Cash and Cash Equivalents                            $   317,771   $  217,906
  Cash - Escrow                                            181,949      119,379
  Cash - Security Deposits                                 138,475      132,748
  Other Current Assets                                      43,878       22,268

  Total Current Assets                                     682,073      492,301

Property Investment:
  Land                                                   2,296,804    2,296,804
  Buildings                                              6,569,125    6,569,125
  Furniture, Fixtures and Improvements                   2,680,580    2,376,165

  Totals - At Cost                                      11,546,509   11,242,094
  Less: Accumulated Depreciation                        (5,332,532)  (5,073,750)

  Property Investment - Net                              6,213,977    6,168,344

Other Assets                                               180,140      250,216

  Total Assets                                         $ 7,076,190   $6,910,861

Liabilities and Partners' Capital (Deficit):
Current Liabilities:
  Accounts Payable                                     $    35,109   $  108,403
  Accrued Interest                                          37,225       37,740
  Other Accrued Expenses                                   139,570        6,755
  Due to Related Party                                       4,630       16,689
  Tenant Security Deposits Payable                         138,475      132,748
  Mortgage Payable - Current Portion                        92,531       85,557
  Deferred Income - Current Portion                         50,090        7,143

  Total Current Liabilities                                497,630      395,035

Long-Term Liabilities:
  Mortgage Payable - Non-Current Portion                 4,489,535    4,559,381
  Deferred Income - Non-Current Portion                     12,500       17,857

  Total Long-Term Liabilities                            4,502,035    4,577,238

Partners' Capital (Deficit):
  General Partner                                       (1,215,093)  (1,216,473)
  Limited Partners                                       3,291,618    3,155,061

  Total Partners' Capital (Deficit)                      2,076,525    1,938,588

  Total Liabilities and Partners' Capital (Deficit)    $ 7,076,190   $6,910,861

See Accompanying Notes to These Financial Statements.

                                        1

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PART 1 - FINANCIAL INFORMATION
Item 1:  Financial Statements

FJS PROPERTIES FUND I, L.P.
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STATEMENTS OF OPERATIONS
[UNAUDITED]
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                                  Three months ended         Nine months ended
                                     September 30,             September 30,
                                  2 0 0 0     1 9 9 9      2 0 0 0      1 9 9 9
Revenue:
  Rental                       $   600,939 $   524,992   $1,799,107  $1,630,301
  Interest                           2,448       4,215        6,897      13,386

  Total Revenue                    603,387     529,207    1,806,004   1,643,687

Expenses:
  Operating                        169,615     204,560      490,512     601,664
  General and Administrative       178,957     190,155      562,842     510,573
  Interest                         112,027     113,766      337,625     342,617
  Depreciation and Amortization     94,163      79,542      277,088     231,808

  Total Expenses                   554,762     588,023    1,668,067   1,686,662

  Net Income (Loss)            $    48,625 $   (58,816)  $  137,937  $  (42,975)

  Income (Loss) Per Limited
   Partnership Unit            $      2.87 $     (3.47)  $     8.13  $    (2.53)

  Distributions Per Limited
   Partnership Unit            $         0 $         0   $        0  $     4.48

  Weighted Average Number
   of Limited Partnership Units
   Outstanding                      16,788      16,788       16,788      16,788


See Accompanying Notes to These Financial Statements.


                                        2

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PART 1 - FINANCIAL INFORMATION
Item 1:  Financial Statements

FJS PROPERTIES FUND I, L.P.
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STATEMENT OF PARTNERS' CAPITAL
[UNAUDITED]
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                                                                       Total
                                             General     Limited      Partners'
                                             Partner    Partners       Capital

Partners' Capital - December 31, 1999     $(1,216,473) $ 3,155,061   $1,938,588

  Net Income for the nine months
   ended September 30, 2000                    1,380       136,557      137,937

  Partners' Capital - September 30, 2000
   [Unaudited]                            $(1,215,093) $ 3,291,618   $2,076,525



See Accompanying Notes to These Financial Statements.


                                        3

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FJS PROPERTIES FUND I, L.P.
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STATEMENTS OF CASH FLOWS
[UNAUDITED]
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                                                           Nine months ended
                                                             September 30,
                                                          2 0 0 0      1 9 9 9
Operating Activities:
  Net Income (Loss)                                    $   137,937   $  (42,975)
  Adjustments to Reconcile Net Income to
   Net Cash Provided by Operating Activities:
   Depreciation                                            258,782      213,502
   Amortization                                             18,306       18,306
   Deferred Income                                          37,590       (5,357)

  Changes in Assets and Liabilities:
   (Increase) in Escrow                                    (62,570)     (80,112)
   (Increase) in Security Deposits                          (5,727)        (871)
   (Increase) in Other Current Assets                      (21,610)     (10,722)
   Decrease (Increase) in Other Assets                      51,770       (2,289)
   Increase in Accounts Payable and Accrued Expenses        59,006      132,132
   (Decrease) in Due to Related Party                      (12,059)     (15,197)
   Increase in Tenant Security Deposits                      5,727          871

  Net Cash Provided by Operating Activities                467,152      207,288

Investing Activities:
  Capital Expenditures                                    (304,415)    (235,271)

  Net Cash (used in) Investing Activities                 (304,415)    (235,271)

Financing Activities:
  Principal Payments on Mortgages                          (62,872)     (57,981)
  Cash Distributions to Partners                                 0      (75,971)

  Net Cash (used in) Financing Activities                  (62,872)    (133,952)

  Net Increase [Decrease] in Cash and Cash Equivalents      99,865     (161,935)

Cash and Cash Equivalents - Beginning of Period            217,906      458,782

  Cash and Cash Equivalents - End of Period            $   317,771   $  296,847

Supplemental disclosure of cash flow information:
  Interest paid                                        $   338,140   $  343,031

  For purposes of the statement of cash flows, the Company  considers all highly
liquid debt instruments  purchased with a maturity of three months or less to be
cash equivalents.

See Accompanying Notes to These Financial Statements.


                                        4

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FJS PROPERTIES FUND I, L.P.
NOTES TO FINANCIAL STATEMENTS
[UNAUDITED]
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[A] Significant Accounting Policies

Significant  accounting policies of FJS Properties Fund I, L.P. are set forth in
the Partnership's  Form 10-K for the year ended December 31, 1999, as filed with
the Securities and Exchange Commission.

[B] Basis of Reporting

The balance sheet as of September 30, 2000, the statements of operations for the
three and nine months  ended  September  30,  2000 and 1999,  the  statement  of
partners'  capital  for the  nine  months  ended  September  30,  2000,  and the
statements  of cash flows for the nine months ended  September 30, 2000 and 1999
have been prepared by the Partnership without audit. The accompanying  unaudited
financial  statements have been prepared in accordance  with generally  accepted
accounting   principles  for  interim   financial   information   and  with  the
instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do
not include all of the information and footnotes  required by generally accepted
accounting principles for complete financial  statements.  In the opinion of the
managing partner,  such statements  include all adjustments  [consisting only of
normal recurring items] which are considered  necessary for a fair  presentation
of the financial  position of the  Partnership  at September  30, 2000,  and the
results  of its  operations  and cash flows for the three and nine  months  then
ended.  It is suggested that these  financial  statements be read in conjunction
with Form S-11 filed with the  Securities  and Exchange  Commission on April 25,
1985 and with the financial  statements and notes contained in the Partnership's
Form 10-K for the year ended December 31, 1999.



                                        5

<PAGE>



FJS PROPERTIES FUND I, L.P.

Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
        AND RESULTS OF  OPERATIONS
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LIQUIDITY AND CAPITAL RESOURCES

As of the present date,  the  Partnership  owns and operates one  Property,  the
Pavilion Apartments, and does not intend to acquire any other property.

Cash flow from Pavilion  should be sufficient to permit the  Partnership to make
the constant monthly payments due prior to maturity on the first mortgage and to
meet its monthly  operating  expenses.  However,  should there be a  significant
decrease in Pavilion's occupancy or rental rates, there can be no assurance that
the Partnership would be able to obtain sufficient funds to make such payments.

The  holder of the  first  mortgage  on the  Pavilion  Apartments  agreed to the
withdrawal of $59,675 from an escrow account held by the first mortgagee.  These
funds are  intended to be  utilized  for capital  improvements  at the  Pavilion
Apartments,  in particular,  among other items, for roof repairs that are needed
at  the  property.  $59,675  was  disbursed  from  the  escrow  account  to  the
Partnership on May 22, 2000. The  Partnership  agreed to reestablish  the escrow
account with payments of $5,000 per month  commencing  July 2000 and  continuing
monthly for twelve months.  It is  anticipated  that cash flow from the Pavilion
Apartments will be sufficient to make such payments.

OPERATIONS

The  Partnership  has  operated the  Pavilion  Apartments,  located in West Palm
Beach, Florida since January 1985.

The project operated with occupancies in the mid-90% range for the third quarter
of 2000.  Physical  occupancy  stands at 96.8% as of November 6, 2000. There are
presently 10 units vacant (including one model  apartment),  with seven of those
units rented for November occupancy and two units available for rental.

Rental  revenues  increased to $600,939 from  $524,992,  and to $1,799,107  from
$1,630,301  for the three and nine month  periods  ended  September  30, 2000 as
compared to the  comparable  periods of the prior  year.  These  increases  were
attributable to the increased rental rates enjoyed by the Pavilion Apartments as
well as a reduction in vacancies at the project. Operating expenses,  consisting
mainly of real estate taxes,  repairs and maintenance and utilities decreased to
$169,615 from $204,560 and to $490,512  from $601,664 for the  comparable  three
and  nine  month  periods  of 2000  and  1999  respectively.  The  decrease  was
principally from a reduction in amounts expended on landscaping during the first
two quarters,  electric expenses, as well as a reduction in real estate taxes as
a  result  of a  reduction  in the  assessed  valuation  of the  project.  These
reductions  were offset to some extent by an increase in repairs and maintenance
at the project. In addition the substantial  decrease over the nine month period
reflected  the  substantial  replacements  completed at the Pavilion  Apartments
during the first half of 1999.


                                        6

<PAGE>



FJS PROPERTIES FUND I, L.P.

Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
        AND RESULTS OF  OPERATIONS
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During  the  third  quarter  of  2000  the  following   sums  were  expended  on
capitalizable replacements.

        Item                                    Amount spent

Stoves/Refrigerators/Dishwashers                  $ 6,487.20
Carpeting                                          17,902.73
Sprinkler System Improvements                       5,272.87
Tile Replacement                                   23,279.51
Roofs                                               8,487.72
Fire Alarm Boxes Improvements                       5,317.21
Sewer Line Replacement                              6,054.50
Misc. Interior Improvements                         3,267.58

Total                                             $76,069.32

General and  administrative  expenses  were $178,957 and $562,842 as compared to
$190,155  and $510,573 for the  comparable  three and nine month  periods of the
prior  year  respectively.  The  increase  for the nine  month  period  reflects
increases in professional  fees,  court costs,  security  expenses and increased
insurance premiums for the property insurance on the Pavilion Apartments.  These
were offset  somewhat by a decrease in payroll  expenses for the  property.  The
decrease  for the three  month  period  reflects  decreased  costs for  payroll,
commissions  and  advertising  at the  project  which were  offset  somewhat  by
increased  costs for  insurance  and court  costs.  The  increase in court costs
reflects the higher occupancy rates at the project and increased  diligence with
respect to delinquent tenants.

INFLATION

As of the present date,  inflation has not had a major impact on the  operations
of the Partnership.




                                        7

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FJS PROPERTIES FUND I, L.P.

PART II - OTHER INFORMATION
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Item 6. Exhibits and Reports on Form 8-K

[a] Exhibits as required by Item 601 of Regulation S-K:

None Required

[b] Reports on From 8-K:

None filed during the quarter for which this report is submitted.



                                        8

<PAGE>


FJS PROPERTIES FUND I, L.P.

SIGNATURE
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Pursuant  to the  requirements  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.

                                   FJS PROPERTIES FUND I, L.P.




Date: November 7, 2000             By: /s/ Andrew C. Alson
                                      ------------------------------------------
                                         Andrew C. Alson
                                         (President and Chief Financial Officer)
                                         FJS Properties, Inc.
                                         General Partner



                                        9