FORM 10-QSB-_ QUARTERLY OR TRANSITIONAL REPORT UNDER SECTION 13 OR 15(D) OF
                      THE SECURITIES EXCHANGE ACT OF 1934
                        QUARTERLY OR TRANSITIONAL REPORT



                    U.S. SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                  FORM 10-QSB

(Mark One)

[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934

               For the quarterly period ended September 30, 1999


[ ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
     EXCHANGE ACT OF 1934


              For the transition period from _________to _________

                         Commission file number 0-14570


                            MCCOMBS REALTY PARTNERS
       (Exact name of small business issuer as specified in its charter)

        California                                     33-0068732
(State or other jurisdiction of                      (I.R.S. Employer
 incorporation or organization)                     Identification No.)

                         55 Beattie Place, PO Box 1089
                       Greenville, South Carolina  29602
                    (Address of principal executive offices)

                                 (864) 239-1000
                          (Issuer's telephone number)


Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act 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

                         PART I _ FINANCIAL INFORMATION

ITEM 1.   FINANCIAL STATEMENTS

a)

                            MCCOMBS REALTY PARTNERS

                           CONSOLIDATED BALANCE SHEET
                                  (Unaudited)
                        (in thousands, except unit data)

                               September 30, 1999



Assets
Cash and cash equivalents                                         $    503
Receivables and deposits                                               100
Restricted escrows                                                     269
Other assets                                                           135
Investment property:
Land                                                    $    499
Buildings and related personal property                    5,500
                                                           5,999
Less accumulated depreciation                             (3,646)    2,353
                                                                  $  3,360
Liabilities and Partners' Deficit
Liabilities
Accounts payable                                                  $     13
Tenant security deposit liabilities                                     20
Accrued property taxes                                                  64
Other liabilities                                                       73
Mortgage note payable                                                5,622

Partners' Deficit
General partner                                         $     --
Limited partners (17,196.39 units
issued and outstanding)                                   (2,432)   (2,432)
                                                                  $  3,360

          See Accompanying Notes to Consolidated Financial Statements


b)

                            MCCOMBS REALTY PARTNERS

                     CONSOLIDATED STATEMENTS OF OPERATIONS
                                  (Unaudited)
                        (in thousands, except unit data)




                                    Three Months Ended      Nine Months Ended
                                       September 30,          September 30,
                                      1999        1998       1999       1998
Revenues:
Rental income                       $  368     $   328     $1,037     $  949
Other income                            21          31         82        104
Total revenues                         389         359      1,119      1,053

Expenses:
Operating                              147         160        430        458
General and administrative              23          17         69         65
Depreciation                            56          56        172        168
Interest                               119         120        358        361
Property taxes                          21          20         65         60
Total expenses                         366         373      1,094      1,112

Net income (loss)                   $   23     $   (14)    $   25     $  (59)

Net income allocated
to general partner (1%)             $   --     $    --     $   --     $   --
Net income (loss) allocated
to limited partners (99%)               23         (14)        25        (59)
                                    $   23     $   (14)    $   25     $  (59)
Net income (loss) per limited
partnership unit                    $ 1.34     $  (.81)    $ 1.45     $(3.43)

          See Accompanying Notes to Consolidated Financial Statements


c)

                            MCCOMBS REALTY PARTNERS

             CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' DEFICIT
                                  (Unaudited)
                        (in thousands, except unit data)



                                 Limited
                               Partnership   General     Limited
                                  Units      Partner     Partners      Total

Partners' deficit at
December 31, 1998               17,196.39    $    --    $ (2,457)   $  (2,457)

Net income for the nine months
ended September 30, 1999               --         --          25           25

Partners' deficit
   at September 30, 1999        17,196.39    $    --    $ (2,432)   $  (2,432)


          See Accompanying Notes to Consolidated Financial Statements


d)
                            MCCOMBS REALTY PARTNERS

                     CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (Unaudited)
                                 (in thousands)

                                                            Nine Months Ended
                                                              September 30,
                                                            1999        1998
Cash flows from operating activities:
Net income (loss)                                          $   25      $  (59)
Adjustments to reconcile net income (loss) to net cash
 provided by operating activities:
 Depreciation                                                 172         168
 Amortization of loan costs                                    14          14
   Change in accounts:
 Receivables and deposits                                      15         (56)
 Other assets                                                 (17)          5
 Accounts payable                                              --         (71)
 Tenant security deposit liabilities                            2          (7)
 Accrued property taxes                                       (17)         60
 Other liabilities                                             (7)         (9)
 Net cash provided by operating activities                    187          45

Cash flows from investing activities:
Property improvements and replacements                        (52)        (40)
Net withdrawals from (deposits to) restricted escrows          65         (55)

 Net cash provided by (used in) investing
              activities                                       13         (95)

Cash flows used in financing activities:
Payments on mortgage note payable                             (47)        (43)

Net increase (decrease) in cash and cash equivalents          153         (93)

Cash and cash equivalents at beginning of period              350         451

Cash and cash equivalents at end of period                 $  503      $  358

Supplemental disclosure of cash flow information:
Cash paid for interest                                     $  343      $  347

          See Accompanying Notes to Consolidated Financial Statements


e)
                            MCCOMBS REALTY PARTNERS

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  (Unaudited)
NOTE A - GOING CONCERN

Under the Plan of Reorganization (the "Plan"; see "Note C" below) McCombs Realty
Partners (the "Partnership" or "Registrant"), a California limited partnership,
was required to pay claims to limited partners and creditors of approximately
$11,000,000 on October 20, 1998.  These claims have not been paid as of
September 30, 1999.  This raises substantial doubt about the Partnership's
ability to continue as a going concern.  In order to attempt to satisfy the
remaining claims under the Plan, the Partnership would be required to sell the
investment property.  As an alternative to the sale of the property, the
Partnership could attempt to obtain authorization from the Court and the limited
partners to extend the settlement date of October 20, 1998, to a future period.
The limited partners were approached in August 1998 and asked to either approve
a sale of the Partnership's sole investment property or for CRPTEX, Inc. ("the
General Partner") to petition the Bankruptcy Court for an extension of the
settlement date.  The required fifty-one percent response was not received.  As
a result, the Partnership defaulted on its obligations which were due on October
20, 1998.  The General Partner is continuing to see that the Partnership
operates its business in the ordinary course while it evaluates the best course
of action to follow.  The consolidated financial statements do not include any
adjustments that might result from the outcome of this uncertainty.

NOTE B - BASIS OF PRESENTATION


The accompanying unaudited consolidated financial statements of the Partnership
have been prepared in accordance with generally accepted accounting principles
for interim financial information and with the instructions to Form 10-QSB and
Item 310(b) of Regulation S-B.  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 General Partner, all
adjustments (consisting of normal recurring accruals) considered necessary for a
fair presentation have been included.  Operating results for the three and nine
month periods ended September 30, 1999, are not necessarily indicative of the
results that may be expected for the fiscal year ending December 31, 1999.  For
further information, refer to the consolidated financial statements and
footnotes thereto included in the Partnership's Annual Report on Form 10-KSB for
the fiscal year ended December 31, 1998 for the Partnership.

Principles of Consolidation:

The Partnership's consolidated financial statements include the accounts of
Pelham Place, L.P., a South Carolina limited partnership.  Pelham Place, L.P. is
the limited partnership which holds title to Lakewood at Pelham (formerly known
as Pelham Place Apartments).  Pelham Place, L.P. is wholly-owned by the
Partnership.  All interpartnership transactions have been eliminated.

NOTE C - PLAN OF REORGANIZATION

On March 9, 1987, the original general partners of the Partnership, on behalf of
the Partnership, filed a voluntary petition under Chapter 11 of the Federal
Bankruptcy Code in U.S. Bankruptcy Court, Central District Court of California
("Court").  The Partnership continued as Debtor-In-Possession to operate its
business in the ordinary course subject to control of the Court until the Court
confirmed the Partnership's Plan effective October 25, 1988.  The Plan was
approved by all required classes of creditors.

The Plan provides for the following claim priorities as of September 30, 1999:

1)   First, all creditors, except Class 12 creditors ($23,100), will be
     satisfied;
2)   Limited Partners, both original and substitute, who made additional capital
     contributions will be paid claims in the amount of the additional
     contributions of approximately $730,000 on October 20, 1998.
3)   Class 12 creditors will be paid claims aggregating $23,100 on October 20,
     1998;
4)   Limited Partners who made additional capital contributions and who were
     original Limited Partners will be paid existing capital contributions of
     approximately $9,818,000 on October 20, 1998;
5)   Limited Partners who did not make additional capital contributions will be
     paid one-third of existing capital contributions (one-third of $1,200,000)
     on October 20, 1998.

All other claims noted in the Plan were settled on June 25, 1995 when the
Partnership refinanced the then outstanding mortgages encumbering the property.

Additionally, the Plan calls for CRPTEX, Inc. (the "General Partner") to make a
capital contribution of $14,500 and loan or expend an additional $117,500 on
behalf of the Partnership on an as needed basis.  The Partnership received the
$14,500 capital contribution but has not required the additional $117,500.

NOTE D - TRANSFER OF CONTROL


Pursuant to a series of transactions which closed on October 1, 1998 and
February 26, 1999, Insignia Financial Group, Inc. and Insignia Properties Trust
merged into Apartment Investment and Management Company ("AIMCO"), a publicly
traded real estate investment trust, with AIMCO being the surviving corporation.
As a result, AIMCO acquired 100% ownership interest in the General Partner.  The
General Partner does not believe that this transaction will have a material
effect on the affairs and operations of the Partnership.

NOTE E - TRANSACTIONS WITH AFFILIATED PARTIES

The Partnership has no employees and is dependent on the General Partner and its
affiliates for the management and administration of all Partnership activities.
The Partnership Agreement provides for certain payments to affiliates for
services and as reimbursement of certain expenses incurred by affiliates on
behalf of the Partnership.  The following transactions with the General Partner
and its affiliates were incurred during each of the nine months ended September
30, 1999 and 1998:

                                                               1999      1998
                                                               (in thousands)

Property management fees (including in operating expenses)     $ 57      $ 55

Reimbursement for services of affiliates (included in
operating and general and administrative expenses and
investment property)                                             31        41

During the nine months ended September 30, 1999 and 1998, affiliates of the
General Partner were entitled to receive 5% of gross receipts from the
Partnership's investment property as compensation for providing property
management services.  The Partnership paid to such affiliates approximately
$57,000 and $55,000 for the nine months ended September 30, 1999 and 1998,
respectively.

Affiliates of the General Partner received reimbursements of accountable
administrative expenses amounting to approximately $31,000 and $41,000 for the
nine months ended September 30, 1999 and 1998, respectively.  Included in these
reimbursements for the nine months ended September 30, 1998, is approximately
$1,000 of construction oversight costs.  No such costs were incurred during the
nine months ended September 30, 1999.

On July 22, 1999, AIMCO Properties, L.P., an affiliate of the Managing General
Partner commenced a tender offer to purchase up to 7,738.38 (45.00% of the total
outstanding units) units of limited partnership interest in the Partnership for
a purchase price of $.50 per unit.  The offer expired on August 19, 1999.
Pursuant to the offer, AIMCO Properties, L.P. acquired 704.00 units.  As a
result, AIMCO and its affiliates currently own 704.00 units of limited
partnership interest in the Partnership representing approximately 4.09% of the
total outstanding units.  It is possible that AIMCO or its affiliates will make
one or more offers to acquire additional limited partnership interests in the
Partnership for cash or in exchange for units in the operating partnership of
AIMCO.

NOTE F - SEGMENT INFORMATION

Description of the types of products and services from which the reportable
segment derives its revenues:  The Partnership has one reportable segment:
residential properties.  The Partnership's residential segment consists of one
apartment complex located in Greenville, South Carolina.  The Partnership rents
apartment units to tenants for terms that are typically twelve months or less.

Measurement of segment profit or loss:  The Partnership evaluates performance
based on net income.  The accounting policies of the reportable segment are the
same as those of the Partnership as described in Partnership's Annual Report on
Form 10-KSB for the year ended December 31, 1998.

Segment information for the nine month periods ended September 30, 1999 and
1998, is shown in the tables below.  The "Other" column includes Partnership
administration related items and income and expense not allocated to the
reportable segment.

                1999                 Residential     Other      Totals
                                               (in thousands)

Rental income                          $ 1,037       $  --     $ 1,037
Other income                                75           7          82
Interest expense                           358          --         358
Depreciation                               172          --         172
General and administrative expense          --          69          69
Segment profit (loss)                       87         (62)         25
Total assets                             3,103         257       3,360
Capital expenditures for investment
  properties                                52          --          52

                1998                 Residential     Other      Totals
                                                (in thousands)

Rental income                          $   949      $    --    $   949
Other income                                92           12        104
Interest expense                           361           --        361
Depreciation                               168           --        168
General and administrative expense          --           65         65
Segment loss                                (6)         (53)       (59)
Total assets                             3,077          341      3,418
Capital expenditures for investment
  properties                                40          --          40


ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

The matters discussed in this Form 10-QSB contain certain forward-looking
statements and involve risks and uncertainties (including changing market
conditions, competitive and regulatory matters, etc.) detailed in the
disclosures contained in this Form 10-QSB and the other filings with the
Securities and Exchange Commission made by the Partnership from time to time.
The discussions of the Partnership's business and results of operations,
including forward-looking statements pertaining to such matters, does not take
into account the effects of any changes to the Partnership's business and
results of operations.  Accordingly, actual results could differ materially from
those projected in the forward-looking statements as a result of a number of
factors, including those identified herein.

The Partnership's investment property consists of one apartment complex. The
average occupancy of Lakewood at Pelham Apartments for the nine month periods
ended September 30, 1999 and 1998, was 96% and 90%, respectively.  The General
Partner attributed the increase in occupancy at Lakewood at Pelham to increased
marketing and a stronger local economy.

Results of Operations

The Partnership realized net income for the nine months ended September 30,
1999, of approximately $25,000 as compared to a net loss of approximately
$59,000 for the corresponding period in 1998.  The Partnership reported net
income for the three months ended September 30, 1999, of approximately $23,000
as compared to a net loss of approximately $14,000 for the corresponding period
in 1998.  The increase in net income for the three and nine months ended
September 30, 1999, was primarily due to an increase in total revenues, and to a
lesser extent, a decrease in total expenses.  Total revenues increased due to an
increase in rental income, which was partially offset by a decrease in other
income.  Rental income increased as a result of the improved occupancy at the
property, noted above, as well as a decrease in concessions.  Other income
decreased in 1999 primarily due to decreases in application fees, laundry
income, and corporate unit income.  Total expenses decreased primarily due to a
decrease in operating expense.  Operating expense decreased due to a decrease in
maintenance expenses, mainly landscaping, and a decrease in insurance expense as
a result of a change in insurance carriers late in 1998.

Included in general and administrative expenses for the nine months ended
September 30, 1999 and 1998, are reimbursements to the General Partner allowed
under the Partnership Agreement associated with its management of the
Partnership.  In addition, costs associated with the quarterly and annual
communications with investors and regulatory agencies and the annual audit
required by the Partnership Agreement are also included.

As part of the ongoing business plan of the Partnership, the General Partner
monitors the rental market environment of its investment property to assess the
feasibility of increasing rents, maintaining or increasing occupancy levels and
protecting the Partnership from increases in expenses.  As part of this plan,
the General Partner attempts to protect the Partnership from the burden of
inflation-related increases in expenses by increasing rents and maintaining a
high overall occupancy level.  However, due to changing market conditions, which
can result in the use of rental concessions and rental reductions to offset
softening market conditions, there is no guarantee that the General Partner will
be able to sustain such a plan.

Liquidity and Capital Resources

At September 30, 1999, the Partnership had cash and cash equivalents of
approximately $503,000 as compared to approximately $358,000 at September 30,
1998.  The net increase in cash and cash equivalents was approximately $153,000
from the year ended December 31, 1998. The increase in cash and cash equivalents
is due to approximately $187,000 of cash provided by operating activities and
approximately $13,000 of cash provided by investing activities partially offset
by approximately $47,000 of cash used in financing activities.  Cash provided by
investing activities consisted of net withdrawals from escrow accounts
maintained by the mortgage lender largely offset by property improvements and
replacements. Cash used in financing activities consisted of payments of
principal made on the mortgage encumbering the Partnership's investment
property.  The Partnership invests its working capital reserves in a money
market account.

The sufficiency of existing liquid assets to meet future liquidity and capital
expenditure requirements is directly related to the level of capital
expenditures required at the property to adequately maintain the physical assets
and other operating needs of the Partnership including satisfaction of remaining
claims related to the Partnership's Plan of Reorganization, as described below,
and to comply with Federal, state, and local legal and regulatory requirements.
Capital improvements planned at the Partnership's investment property are
detailed below.

Lakewood at Pelham

During the nine months ended September 30, 1999, the Partnership expended
approximately $52,000 for capital improvements at Lakewood at Pelham, consisting
primarily of floor covering, structural improvements, appliance replacements,
and other improvements.  These improvements were funded from Partnership
reserves.  Based on a report received from an independent third party consultant
analyzing necessary exterior improvements and estimates made by the General
Partner on interior improvements, it is estimated that the property requires
approximately $232,000 of capital improvements over the next few years.  Capital
improvements budgeted for 1999 include, but are not limited to, approximately
$210,000 and include certain of the required improvements and consist of
exterior building improvements, carpet and vinyl replacement, appliance
replacements and landscaping.

The additional capital expenditures will be incurred only if cash is available
from operations or from Partnership reserves.  Partnership reserves are
sufficient to cover the estimated costs of the capital improvements planned for
1999.  However, the Partnership does not have sufficient assets to fulfill its
obligation under the Plan of Reorganization ("Plan") and in fact defaulted on
its obligations due October 20, 1998.  See discussion below for detail as to the
Partnership's Plan with respect to meeting its short term needs under the Plan.
No distributions were declared or paid during either of the nine months ended
September 30, 1999 or 1998, and none are expected in the future.

On March 9, 1987, the original general partners of the Partnership, on behalf of
the Partnership, filed a voluntary petition under Chapter 11 of the Federal
Bankruptcy Code in U.S. Bankruptcy Court, Central District Court of California
("Court").  The Partnership continued as Debtor-In-Possession to operate its
business in the ordinary course subject to control of the Court until the Court
confirmed the Partnership's Plan effective October 25, 1988.  The Plan was
approved by all required classes of creditors.

The Plan provides for the following claim priorities as of September 30, 1999:

1) First, all creditors, except Class 12 creditors ($23,100), will be
   satisfied;
2) Limited Partners, both original and substitute, who made additional capital
   contributions will be paid claims in the amount of the additional
   contributions of approximately $730,000 on October 20, 1998:
3) Class 12 creditors will be paid claims aggregating $23,100 on October 20,
   1998;
4) Limited Partners who made additional capital contributions and who were
   original Limited Partners will be paid existing capital contributions of
   approximately $9,818,000 on October 20, 1998;
5) Limited Partners who did not make additional capital contributions will be
   paid one-third of existing capital contributions (one-third of $1,200,000)
   on October 20, 1998.

All other claims noted in the Plan were settled on June 25, 1995 when the
Partnership refinanced the then outstanding mortgages encumbering the property.

Additionally, the Plan calls for the General Partner to make a capital
contribution of $14,500 and loan or expend an additional $117,500 on behalf of
the Partnership on an as needed basis.  The Partnership received the $14,500
capital contribution but has not required the additional $117,500.

In order to attempt to satisfy the remaining claims under the Plan, the
Partnership would be required to sell the investment property, or as an
alternative, the Partnership could attempt to obtain authorization from the
Court and the Limited Partners to extend the settlement date of October 20, 1998
to a future period.  The limited partners were approached in August 1998 and
asked to either approve a sale of the Partnership's sole investment property or
for the General Partner to petition the Bankruptcy Court for an extension of the
settlement date.  The required fifty-one percent response was not received.  As
a result, the Partnership defaulted on its obligations which were due on October
20, 1998.  The General Partner is continuing to see that the Partnership
operates its business in the ordinary course while it evaluates the best course
of action to follow.  Additionally, the Partnership's mortgage indebtedness of
approximately $5,622,000 matures in July 2005, and would require a property sale
or refinancing at that time.  However, there can be no assurance that these
courses of action will be successful and that the Partnership will have
sufficient funds to meet its obligations for the remainder of 1999 or beyond.

Tender Offer

On July 22, 1999, AIMCO Properties, L.P., an affiliate of the General Partner
commenced a tender offer to purchase up to 7,738.38 (45.00% of the total
outstanding units) units of limited partnership interest in the Partnership for
a purchase price of $.50 per unit.  The offer expired on August 19, 1999.
Pursuant to the offer, AIMCO Properties, L.P. and its affiliates acquired 704.00
units of limited partnership interest in the Partnership representing
approximately 4.09% of the total outstanding units.  It is possible that AIMCO
or its affiliates will make one or more offers to acquire additional limited
partnership interests in the Partnership for cash or in exchange for units in
the operating partnership of AIMCO.

Year 2000 Compliance

General Description of the Year 2000 Issue and the Nature and Effects of the
Year 2000 on Information Technology (IT) and Non-IT Systems

The Year 2000 issue is the result of computer programs being written using two
digits rather than four digits to define the applicable year.  The Partnership
is dependent upon the General Partner and its affiliates for management and
administrative services ("Managing Agent").  Any of the computer programs or
hardware that have date-sensitive software or embedded chips may recognize a
date using "00" as the year 1900 rather than the year 2000.  This could result
in a system failure or miscalculations causing disruptions of operations,
including, among other things, a temporary inability to process transactions,
send invoices, or engage in similar normal business activities.

Over the past two years, the Managing Agent has determined that it will be
required to modify or replace significant portions of its software and certain
hardware so that those systems will properly utilize dates beyond December 31,
1999.  The Managing Agent presently believes that with modifications or
replacements of existing software and certain hardware, the Year 2000 issue can
be mitigated. However, if such modifications and replacements are not made, or
not completed in time, the Year 2000 issue could have a material impact on the
operations of the Partnership.

The Managing Agent's plan to resolve Year 2000 issues involves four phases:
assessment, remediation, testing, and implementation.  To date, the Managing
Agent has fully completed its assessment of all the information systems that
could be significantly affected by the Year 2000, and has begun the remediation,
testing and implementation phases on both hardware and software systems.
Assessments are continuing in regards to embedded systems.  The status of each
is detailed below.

Status of Progress in Becoming Year 2000 Compliant, Including Timetable for
Completion of Each Remaining Phase

Computer Hardware:

During 1997 and 1998, the Managing Agent identified all of the computer systems
at risk and formulated a plan to repair or replace each of the affected systems.
In August 1998, the main computer system used by the Managing Agent became fully
functional.  In addition to the main computer system, PC-based network servers,
routers and desktop PCs were analyzed for compliance.  The Managing Agent has
begun to replace each of the non-compliant network connections and desktop PCs
and, as of September 30, 1999, had virtually completed this effort.

The total cost to the Managing Agent to replace the PC-based network servers,
routers and desktop PCs is expected to be approximately $1.5 million of which
$1.3 million has been incurred to date.

Computer Software:

The Managing Agent utilizes a combination of off-the-shelf, commercially
available software programs as well as custom-written programs that are designed
to fit specific needs.  Both of these types of programs were studied, and
implementation plans written and executed with the intent of repairing or
replacing any non-compliant software programs.

In April 1999 the Managing Agent embarked on a data center consolidation project
that unifies its core financial systems under its Year 2000 compliant system.
The estimated completion date for this project is October 1999.

During 1998, the Managing agent began converting the existing property
management and rent collection systems to its management properties Year 2000
compliant systems.  The estimated additional costs to convert such systems at
all properties, is $200,000, and the implementation and testing process was
completed in June 1999.

The final software area is the office software and server operating systems.
The Managing Agent has upgraded all non-compliant office software systems on
each PC and has upgraded virtually all of the server operating systems.

Operating Equipment:

The Managing Agent has operating equipment, primarily at the property sites,
which needed to be evaluated for Year 2000 compliance.  In September 1997, the
Managing Agent began taking a census and inventory of embedded systems
(including those devices that use time to control systems and machines at
specific properties, for example elevators, heating, ventilating, and air
conditioning systems, security and alarm systems, etc.).

The Managing Agent has chosen to focus its attention mainly upon security
systems, elevators, heating, ventilating and air conditioning systems, telephone
systems and switches, and sprinkler systems.  While this area is the most
difficult to fully research adequately, management has not yet found any major
non-compliance issues that put the Managing Agent at risk financially or
operationally.

A pre-assessment of the properties by the Managing Agent has indicated virtually
no Year 2000 issues.  A complete, formal assessment of all the properties by the
Managing Agent was virtually completed by September 30, 1999.  Any operating
equipment that is found non-compliant will be repaired or replaced.

The total cost incurred for all properties managed by the Managing Agent as of
September 30, 1999 to replace or repair the operating equipment was
approximately $75,000. The Managing Agent estimates the cost to replace or
repair any remaining operating equipment is approximately $125,000.

The Managing Agent continues to have "awareness campaigns" throughout the
organization designed to raise awareness and report any possible compliance
issues regarding operating equipment within its enterprise.

Nature and Level of Importance of Third Parties and Their Exposure to the Year
2000

The Managing Agent has banking relationships with three major financial
institutions, all of which have designated their compliance.  The Managing Agent
has updated data transmission standards with all of the financial institutions.
All financial institutions have communicated that they are Year 2000 compliant
and accordingly no accounts were required to be moved from the existing
financial institutions.

The Partnership does not rely heavily on any single vendor for goods and
services, and does not have significant suppliers and subcontractors who share
information systems (external agent).  To date, the Partnership is not aware of
any external agent with a Year 2000 compliance issue that would materially
impact the Partnership's results of operations, liquidity, or capital resources.
However, the Partnership has no means of ensuring that external agents will be
Year 2000 compliant.

The Managing Agent does not believe that the inability of external agents to
complete their Year 2000 remediation process in a timely manner will have a
material impact on the financial position or results of operations of the
Partnership. However, the effect of non-compliance by external agents is not
readily determinable.

Costs to Address Year 2000

The total cost of the Year 2000 project to the Managing Agent is estimated at
$3.5 million and is being funded from operating cash flows.  To date, the
Managing Agent has incurred approximately $2.9 million ($0.7 million expenses
and $2.2 million capitalized for new systems and equipment) related to all
phases of the Year 2000 project.  Of the total remaining project costs,
approximately $0.5 million is attributable to the purchase of new software and
operating equipment, which will be capitalized.  The remaining $0.2 million
relates to repair of hardware and software and will be expensed as incurred.
The Partnership's portion of these costs are not material.

Risks Associated with the Year 2000

The Managing Agent believes it has an effective program in place to resolve the
Year 2000 issue in a timely manner.  As noted above, the Managing Agent has not
yet completed all necessary phases of the Year 2000 program.  In the event that
the Managing Agent does not complete any additional phases, certain worst case
scenarios could occur.  The worst case scenarios could include elevators,
security and heating, ventilating and air conditioning systems that read
incorrect dates and operate with incorrect schedules (e.g., elevators will
operate on Monday as if it were Sunday). Although such a change would be
annoying to residents, it is not business critical.

In addition, disruptions in the economy generally resulting from Year 2000
issues could also adversely affect the Partnership.  The Partnership could be
subject to litigation for, among other things, computer system failures,
equipment shutdowns or failure to properly date business records.  The amount of
potential liability and lost revenue cannot be reasonably estimated at this
time.

Contingency Plans Associated with the Year 2000

The Managing Agent has contingency plans for certain critical applications and
is working on such plans for others.  These contingency plans involve, among
other actions, manual workarounds and selecting new relationships for such
activities as banking relationships and elevator operating systems.



                          PART II - OTHER INFORMATION


ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K

a)   Exhibits:

     Exhibit 27, Financial Data Schedule, is filed as an exhibit to this report.

b)   Reports on Form 8-K:

     None filed during the quarter ended September 30, 1999.


                                   SIGNATURES



In accordance with the requirements of the Exchange Act, the Registrant caused
this report to be signed on its behalf by the undersigned, thereunto duly
authorized.



                                 MCCOMBS REALTY PARTNERS


                                 By:     CRPTEX, INC.
                                         General Partner

                                 By:     /s/Patrick J. Foye
                                         Patrick J. Foye
                                         Executive Vice President

                                 By:     /s/Martha L. Long
                                         Martha L. Long
                                         Senior Vice President and
                                         Controller

                                 Date:   November 15, 1999