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 June 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 0-14554



                         NATIONAL PROPERTY INVESTORS 8
       (Exact name of small business issuer as specified in its charter)



         California                                           13-3254885
(State or other jurisdiction of                             (I.R.S. Employer
 incorporation or organization)                            Identification No.)

                        55 Beattie Place, P.O. 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 past 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)
                         NATIONAL PROPERTY INVESTORS 8

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

                                 June 30, 1999



Assets

  Cash and cash equivalents                                     $ 2,248

  Receivables and deposits                                          244

  Restricted escrows                                                 60

  Other assets                                                      187

  Investment properties:

     Land                                           $  1,970

     Buildings and related personal property          28,623

                                                      30,593

     Less accumulated depreciation                   (16,896)    13,697

                                                                $16,436
Liabilities and Partners' Capital (Deficit)

Liabilities

  Accounts payable                                              $    65

  Tenant security deposit liabilities                                68

  Accrued property taxes                                            427

  Other liabilities                                                 183

  Mortgage notes payable                                         10,823

Partners' Capital (Deficit)

  General partner                                   $   (174)

  Limited partners (44,882 units issued and

     outstanding)                                      5,044      4,870

                                                                $16,436


                 See Accompanying Notes to Financial Statements
b)
                         NATIONAL PROPERTY INVESTORS 8
                            STATEMENTS OF OPERATIONS
                                  (Unaudited)
                        (in thousands, except unit data)


                               Three Months Ended        Six Months Ended

                                     June 30,                 June 30,

                                1999         1998         1999         1998

Revenues:

  Rental income                $1,116       $1,092       $2,246       $2,189

  Other income                     77          111          151          243

    Total revenues              1,193        1,203        2,397        2,432

Expenses:

  Operating                       408          489          805          872

  General and administrative       40           46           80           86

  Interest                        229          231          459          463

  Depreciation                    307          296          608          591

  Property taxes                  128          112          241          238

    Total expenses              1,112        1,174        2,193        2,250

Net income                     $   81       $   29       $  204       $  182

Net income allocated to

 general partner (1%)          $    1       $   --       $    2       $    2

Net income allocated to

 limited partners (99%)            80           29          202          180

                               $   81       $   29       $  204       $  182

Net income per limited

 partnership unit              $ 1.78       $  .65       $ 4.50       $ 4.01

Distribution per limited

 partnership unit              $   --       $   --       $18.76       $   --


                 See Accompanying Notes to Financial Statements
c)
                         NATIONAL PROPERTY INVESTORS 8

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




                                   Limited

                                 Partnership    General     Limited

                                    Units       Partner    Partners      Total


Original capital contributions    44,882        $     1     $22,441     $22,442


Partners' (deficit) capital at

  December 31, 1998               44,882        $  (168)    $ 5,684     $ 5,516

Distribution to partners              --             (8)       (842)       (850)

Net income for the six

   months ended June 30, 1999         --              2         202         204

Partners' (deficit) capital at

  June 30, 1999                   44,882        $  (174)    $ 5,044     $ 4,870


                 See Accompanying Notes to Financial Statements
d)
                         NATIONAL PROPERTY INVESTORS 8

                            STATEMENTS OF CASH FLOWS
                                  (Unaudited)
                                 (in thousands)




                                                            Six Months Ended

                                                                June 30,

                                                          1999        1998

Cash flows from operating activities:

  Net income                                             $  204      $  182

  Adjustments to reconcile net income to net cash

     provided by operating activities:

     Depreciation                                           608         591

     Amortization of loan costs                              19          19

     Change in accounts:

       Receivables and deposits                              37          41

       Other assets                                         (29)         16

       Accounts payable                                      11          37

       Tenant security deposit liabilities                    2          (1)

       Accrued property taxes                               (43)        (43)

       Other liabilities                                     16         (18)

        Net cash provided by operating activities           825         824

Cash flows from investing activities:

  Property improvements and replacements                   (164)       (182)

  Net withdrawals from (deposits to) restricted

      escrows                                               726         (78)

        Net cash provided by (used in) investing

           activities                                       562        (260)

Cash flows from financing activities:

   Payments on mortgage notes payable                       (35)        (32)

   Distribution to partners                                (850)         --

        Net cash used in financing activities              (885)        (32)

Net increase in cash and cash equivalents                   502         532

Cash and cash equivalents at beginning of period          1,746       1,777

Cash and cash equivalents at end of period               $2,248      $2,309

Supplemental disclosure of cash flow information:

  Cash paid for interest                                 $  441      $  444


                 See Accompanying Notes to Financial Statements


e)
                         NATIONAL PROPERTY INVESTORS 8

                         NOTES TO FINANCIAL STATEMENTS
                                  (Unaudited)

NOTE A - BASIS OF PRESENTATION

The accompanying unaudited financial statements of National Property Investors 8
(the "Partnership" or "Registrant") 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 NPI Equity Investments, Inc. ("NPI Equity" or the "Managing
General Partner"), all adjustments (consisting of normal recurring accruals)
considered necessary for a fair presentation have been included. Operating
results for the three and six month periods ended June 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 financial
statements and footnotes thereto included in the Partnership's Annual Report on
Form 10-KSB for the year ended December 31, 1998.

NOTE B - TRANSFER OF CONTROL

Pursuant to a series of transactions which closed on October 1, 1998, and
February 26, 1999, Insignia Financial Group, Inc. ("Insignia") 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 (the "Insignia Merger"). As a result, AIMCO acquired 100%
ownership interest in the Managing General Partner. The Managing General Partner
does not believe that this transaction will have a material effect on the
affairs and operations of the Partnership.

NOTE C - TRANSACTIONS WITH AFFILIATED PARTIES

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

                                                          1999       1998

                                                           (in thousands)

Property management fees (included in operating expense)  $122       $120

Reimbursement for services of affiliates (included in

  investment properties and operating and general and

  administrative expenses)                                  50         53


During the six months ended June 30, 1999 and 1998 affiliates of the Managing
General Partner were entitled to receive 5% of gross receipts from both of the
Registrant's properties for providing property management services.  The
Registrant paid to such affiliates approximately $122,000 and $120,000 for the
six months ended June 30, 1999 and 1998, respectively.

An affiliate of the Managing General Partner received reimbursement of
accountable administrative expenses amounting to approximately $50,000 and
$53,000 for the six months ended June 30, 1999 and 1998, respectively, including
approximately $5,000 in construction service costs for the six months ended June
30, 1999.  There were no construction service costs incurred during the six
months ended June 30, 1998.

The Managing General Partner has established a revolving credit facility (the
"Partnership Revolver") to be used to fund deferred maintenance and working
capital needs of the Partnership.  The maximum draw available to the Partnership
under the Partnership Revolver is $500,000.  Loans under the Partnership
Revolver will have a term of 365 days, be unsecured and bear interest at the
rate of 2% per annum in excess of the prime rate announced from time to time by
Chemical Bank, N.A.  The maturity date of such borrowing will be accelerated in
the event of: (i) the removal of the managing general partner (whether or not
For Cause); (ii) the sale or refinancing of a property by the Partnership
(whether or not a borrowing under the Partnership Revolver was made with respect
to such property); or (iii) the liquidation of the Partnership.  The Partnership
has not borrowed under the Partnership Revolver, to date.

On June 2, 1999, AIMCO Properties, L.P., an affiliate of the Managing General
Partner commenced a tender offer to purchase up to 12,588.73 (approximately
28.05% of the total outstanding units) units of limited partnership interest in
the Partnership for a purchase price of $235 per unit.  The offer expired on
July 30, 1999.  Pursuant to the offer, AIMCO Properties, L.P. acquired 1,648.00
units.  As a result, AIMCO and its affiliates currently own 18,724.00 units of
limited partnership interest in the Partnership representing approximately
41.72% of the total outstanding units.  It is possible that AIMCO or its
affiliates will make one or more additional offers to acquire additional limited
partnership interests in the Partnership for cash or in exchange for units in
the operating partnership of AIMCO.

NOTE D - DISTRIBUTIONS

During the six months ended June 30, 1999, the Registrant made a distribution of
approximately $850,000 (approximately $842,000 to the limited partners or $18.76
per limited partnership unit) from refinancing and property sale proceeds from
prior years.

NOTE E - SEGMENT REPORTING

The Partnership has one reportable segment: residential properties.  The
Partnership's residential property segment consists of two apartment complexes
in Indianapolis, Indiana and Morrisville, North Carolina.  The Partnership rents
apartment units to tenants for terms that are typically twelve months or less.

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 the Partnership's Annual Report on Form 10-KSB for the fiscal year
ended December 31, 1998.

The Partnership's reportable segment consists of investment properties that
offer similar products and services.  Although each of the investment properties
is managed separately, they have been aggregated into one segment as they
provide services with similar types of products and customers.

Segment information for the six months ended June 30, 1999 and 1998, is shown in
the tables below (in thousands).  The "Other" column includes partnership
administration related items and income and expense not allocated to the
reportable segment.

1999
                                           Residential     Other     Totals
Rental income                               $ 2,246      $    --    $ 2,246
Other income                                    134           17        151
Interest expense                                459           --        459
Depreciation                                    608           --        608
General and administrative expense               --           80         80
Segment profit (loss)                           267          (63)       204
Total assets                                 15,754          682     16,436
Capital expenditures for investment
properties                                      164           --        164

1998
                                          Residential     Other      Totals
Rental income                              $ 2,189      $    --     $ 2,189
Other income                                   178           65         243
Interest expense                               463           --         463
Depreciation                                   591           --         591
General and administrative expense              --           86          86
Segment profit (loss)                          203          (21)        182
Total assets                                15,733        2,261      17,994
Capital expenditures for investment
properties                                     182           --         182

NOTE F - LEGAL PROCEEDINGS

In March 1998, several putative unit holders of limited partnership units of the
Partnership commenced an action entitled Rosalie Nuanes, et al. v. Insignia
Financial Group, Inc., et al. in the Superior Court of the State of California
for the County of San Mateo.  The plaintiffs named as defendants, among others,
the Partnership, the Managing General Partner and several of their affiliated
partnerships and corporate entities.  The complaint purports to assert claims on
behalf of a class of limited partners and derivatively on behalf of a number of
limited partnerships (including the Partnership) which are named as nominal
defendants, challenging the acquisition by Insignia and entities which were, at
the time, affiliates of Insignia ("Insignia Affiliates") of interests in certain
general partner entities, past tender offers by Insignia Affiliates as well as a
recently announced agreement between Insignia and AIMCO.  The complaint seeks
monetary damages and equitable relief, including judicial dissolution of the
Partnership. On June 25, 1998, the Managing General Partner filed a motion
seeking dismissal of the action. In lieu of responding to the motion, the
plaintiffs filed an amended complaint. The Managing General Partner has filed
demurrers to the amended complaint which were heard during February 1999.  No
ruling on such demurrers has been received.  The Managing General Partner does
not anticipate that costs associated with this case, if any, will be material to
the Partnership's overall operations.

The Partnership is unaware of any other pending or outstanding litigation that
is not of a routine nature arising in the ordinary course of business.

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 Registrant from time to time.
The discussion of the Registrant'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 Registrant's business and results of
operation.  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 properties consist of two apartment complexes.  The
following table sets forth the average occupancy of the properties for the six
months ended June 30, 1999 and 1998:


                                                Average Occupancy

Property                                        1999         1998

Williamsburg on the Lake Apartments

  Indianapolis, Indiana                         94%          95%

Huntington Athletic Club Apartments

  Morrisville, North Carolina                   92%          91%

Results of Operations

The Registrant's net income for the six months ended June 30, 1999, was
approximately $204,000 as compared to approximately $182,000 for the six months
ended June 30, 1998. The Registrant's net income for the three months ended June
30, 1999, was approximately $81,000 as compared to approximately $29,000 for the
three months ended June 30, 1998. The increase in net income for the three and
six month periods ended June 30, 1999 was due to a decrease in total expenses
which was partially offset by a decrease in total revenues.  Total expenses
decreased due to a decrease in operating expenses which was partially offset by
an increase in depreciation expense.  Operating expenses decreased primarily due
to decreases in salary expenses at Huntington Athletic Club, expenses associated
with fully furnished units leased to corporations at Huntington Athletic Club
and reduced maintenance costs due to the completion of a major landscaping
project in 1998 at Huntington Athletic Club Apartments.  In addition, insurance
expense decreased at both of the Partnership's properties due to a change in
insurance carriers.  Depreciation expense increased due to property additions
during the second half of 1998 and the first half of 1999 which are now being
depreciated.

Total revenues decreased due to a decrease in other income which more than
offset an increase in rental income. Other income decreased due to the receipt
during the six months ended June 30, 1998 of litigation proceeds in settlement
of an action against a vendor for installation of defective piping at the
Huntington Athletic Club Apartments. In addition, interest income decreased due
to lower average replacement reserve and cash balances in interest-bearing
accounts, income associated with renting fully furnished units to corporations
decreased at Huntington Athletic Club, and tenant charges decreased at both of
the Partnership's properties.  Rental income increased due to increased average
rental rates at both the Partnership's properties and improved occupancy at
Huntington Athletic Club Apartments which was partially offset by reduced
occupancy at Williamsburg on the Lake Apartments.

General and administrative expenses remained stable over the comparable periods.
Included in general and administrative expenses at both June 30, 1999 and 1998,
are management reimbursements to the Managing General Partner allowed under the
Partnership Agreement.  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 Managing General
Partner monitors the rental market environment of its investment properties to
assess the feasibility of increasing rents, maintaining or increasing occupancy
levels and protecting the Registrant from increases in expenses.  As part of
this plan, the Managing General Partner attempts to protect the Registrant 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
Managing General Partner will be able to sustain such a plan.

Liquidity and Capital Resources

At June 30, 1999, the Partnership held cash and cash equivalents of
approximately $2,248,000 compared to approximately $2,309,000 at June 30, 1998.
The increase of approximately $502,000 in cash and cash equivalents since the
Partnership's year ended December 31, 1998 is due to approximately $825,000 of
cash provided by operating activities and approximately $562,000 of cash
provided by investing activities, which were partially offset by approximately
$885,000 of cash used in financing activities. Cash provided by investing
activities consisted of withdrawals from escrow accounts maintained by the
mortgage lender which was partially offset by property improvements and
replacements. Cash used in financing activities consisted primarily of a
distribution to the partners, and to a lessor extent, of payments of principal
made on the mortgage encumbering Huntington Athletic Club Apartments.  The
Registrant invests its working capital reserves in a money market account.

The Managing General Partner has extended to the Partnership a $500,000 line of
credit. At June 30, 1999 and 1998, the Partnership had no outstanding amounts
due under this line of credit.  Based on present plans, the Managing General
Partner does not anticipate the need to borrow against the line of credit in the
near future. Other than unrestricted cash and cash equivalents, the line of
credit is the Partnership's only unused source of liquidity.

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 properties to adequately maintain the physical
assets and other operating needs of the Registrant and to comply with Federal,
state, and local legal and regulatory requirements.  Capital improvements
planned for each of the Registrant's properties are detailed below.

Williamsburg on the Lake Apartments

During the six months ended June 30, 1999, the Partnership expended
approximately $132,000 on capital improvements, consisting primarily of
carpeting and vinyl replacement, air conditioning units, electrical upgrades,
landscaping, appliances, and structural 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 Managing General Partner on interior improvements, it is estimated
that the property requires approximately $365,000 of capital improvements over
the next few years.  The Partnership has budgeted, but is not limited to,
capital improvements of approximately $457,000 for 1999, which include certain
of the required improvements, and consist of, carpeting and vinyl replacement,
landscaping improvements, grounds lighting, air conditioning units, parking lot
repairs, and other structural improvements.

Huntington Athletic Club Apartments

During the six months ended June 30, 1999, the Partnership expended
approximately $32,000 on capital improvements, consisting primarily of carpet
and vinyl replacement and appliances.  These improvements were funded from
operating cash flow.  Based on a report received from an independent third party
consultant analyzing necessary exterior improvements and estimates made by the
Managing General Partner on interior improvements, it is estimated that the
property requires approximately $103,000 of capital improvements over the next
few years.  The Partnership has budgeted, but is not limited to, capital
improvements of approximately $111,000 for 1999, which include certain of the
required improvements, and consist of carpet and vinyl replacement and other
structural improvements.

The additional capital expenditures will be incurred only if cash is available
from operations or from Partnership reserves.  To the extent that such budgeted
capital improvements are completed, the Registrant's distributable cash flow, if
any, may be adversely affected at least in the short term.

The Registrant's current assets are thought to be sufficient for any near-term
needs (exclusive of capital improvements) of the Registrant.  Huntington
Athletic Club Apartment's mortgage indebtedness of approximately $3,423,000 is
amortized over 300 months with a balloon payment of approximately $3,211,000 due
in February 2002.  The mortgage encumbering the Williamsburg on the Lake
Apartments requires interest only payments with the principal balance of
$7,400,000 due in November 2003.  The Managing General Partner will attempt to
refinance such indebtedness and/or sell the properties prior to such maturity
dates.  If the properties cannot be refinanced or sold for a sufficient amount,
the Registrant may risk losing such properties through foreclosure.

During the six months ended June 30, 1999, the Registrant made a distribution of
approximately $850,000 (approximately $842,000 to the limited partners or $18.76
per limited partnership unit) from refinancing and property sale proceeds from
prior years. No such distributions were made to the partners during the six
months ended June 30, 1998. Future cash distributions will depend on the levels
of net cash generated from operations, the availability of cash reserves, and
the timing of debt maturities, refinancings and/or property sales.  The
Registrant's distribution policy is reviewed on a semi-annual basis.  There can
be no assurance, however, that the Registrant will generate sufficient funds
from operations after required capital improvements to permit further
distributions to its partners in 1999 or subsequent periods.

Tender Offer

On June 2, 1999, AIMCO Properties, L.P., an affiliate of the Managing General
Partner commenced a tender offer to purchase up to 12,588.73 (approximately
28.05% of the total outstanding units) units of limited partnership interest in
the Partnership for a purchase price of $235 per unit.  The offer expired on
July 30, 1999.  Pursuant to the offer, AIMCO Properties, L.P. acquired 1,648.00
units.  As a result, AIMCO and its affiliates currently own 18,724.00 units of
limited partnership interest in the Partnership representing approximately
41.72% of the total outstanding units.  It is possible that AIMCO or its
affiliates will make one or more additional 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 Managing 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 June 30, 1999, had completed approximately 90% of 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.  The remaining network connections and
desktop PCs are expected to be upgraded to Year 2000 compliant systems by
September 30, 1999.  The completion of this process is scheduled to coincide
with the release of a compliant version of the Managing Agent's operating
system.

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 90% of the server operating systems.  The remaining
server operating systems are planned to be upgraded to be Year 2000 compliant by
September, 1999.  The completion of this process is scheduled to coincide with
the release of a compliant version of the Managing Agent's operating system.

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 no Year
2000 issues.  A complete, formal assessment of all the properties by the
Managing Agent is in process and will be completed in September, 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
June 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 continues to conduct surveys of its banking and other vendor
relationships to assess risks regarding their Year 2000 readiness.  The Managing
Agent has banking relationships with three major financial institutions, all of
which have indicated their compliance efforts will be complete before July,
1999. The Managing Agent has updated data transmission standards with all of the
financial institutions. The Managing Agent's contingency plan in this regard is
to move accounts from any institution that cannot be certified Year 2000
compliant by September 1, 1999.

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 expensed
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 1.  LEGAL PROCEEDINGS


In March 1998, several putative unit holders of limited partnership units of the
Partnership commenced an action entitled Rosalie Nuanes, et al. v. Insignia
Financial Group, Inc., et al. in the Superior Court of the State of California
for the County of San Mateo.  The plaintiffs named as defendants, among others,
the Partnership, the Managing General Partner and several of their affiliated
partnerships and corporate entities.  The complaint purports to assert claims on
behalf of a class of limited partners and derivatively on behalf of a number of
limited partnerships (including the Partnership) which are named as nominal
defendants, challenging the acquisition by Insignia and entities which were, at
the time, affiliates of Insignia ("Insignia Affiliates") of interests in certain
general partner entities, past tender offers by Insignia Affiliates as well as a
recently announced agreement between Insignia and AIMCO.  The complaint seeks
monetary damages and equitable relief, including judicial dissolution of the
Partnership. On June 25, 1998, the Managing General Partner filed a motion
seeking dismissal of the action. In lieu of responding to the motion, the
plaintiffs filed an amended complaint. The Managing General Partner has filed
demurrers to the amended complaint which were heard during February 1999.  No
ruling on such demurrers has been received.  The Managing General Partner does
not anticipate that costs associated with this case, if any, will be material to
the Partnership's overall operations.

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:

             No reports were filed during the three months ended June 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.

                                   NATIONAL PROPERTY INVESTORS 8

                                   By:      NPI EQUITY INVESTMENTS, INC.
                                            Its Managing General Partner

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

                                   By:      /s/ Carla R. Stoner
                                            Carla R. Stoner
                                            Senior Vice President Finance and
                                            Administration

                                   Date:    August 6, 1999