Capital Builders Development Properties
                 (A California Limited Partnership)
                    NOTES TO FINANCIAL STATEMENTS


                            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
                      and Exchange Act of 1934



For The Quarter Ended June 30, 2000   Commission File Number 2-96042



              CAPITAL BUILDERS DEVELOPMENT PROPERTIES,
                  A CALIFORNIA LIMITED PARTNERSHIP
       (Exact name of registrant as specified in its charter)



     California                                   77-0049671
State or other jurisdiction of                  I.R.S. Employer
organization                                   Identification No.

1130 Iron Point Road, Suite 170, Folsom, California 95630
(Address of Principal executive offices)          (Zip Code)


Registrant's telephone number, including area code:  (916)353-0500


Former name, former address and former fiscal year, if changed since
last year:

4700 Roseville Road, Suite 206, North Highlands, California 95660




Indicate  by  check  mark whether the registrant (1)  has  filed  all
reports required to be filed by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12 months (or 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



<TABLE>
PART 1 - FINANCIAL INFORMATION

     Capital  Builders  Development
              Properties
 (A  California  Limited  Partnership)

            BALANCE  SHEETS
<CAPTION>
                                           June 30,    December 31,
                                            2000          1999
<S>                                          <C>           <C>
ASSETS
  Cash and cash equivalents                  $35,061        $23,679
  Accounts receivable, net                    70,078         58,194
  Investment property, held for sale,
at cost, net of accumulated
depreciation and amortization of
$1,470,519 at June 30, 2000 and
December 31, 1999                          4,537,654      4,514,466

  Lease commissions, net of accumulated
amortization of $107,412 at June 30,
2000, and December 31, 1999                  113,227         87,948

  Other assets, net of accumulated
amortization of $90,919 and
$71,538 at June 30, 2000, and
December 31, 1999, respectively               79,865         79,518

          Total assets                    $4,835,885     $4,763,805

LIABILITIES AND PARTNERS' DEFICIT
  Notes payable                           $4,673,768     $4,199,057
  Loan payable to affiliate                  109,236        104,331
  Accounts payable and accrued
liabilities                                  110,310        489,667
  Tenant deposits                             47,211         44,357

          Total liabilities               $4,940,525     $4,837,412

  Commitments and contingencies
  Partners' Deficit:
    General partner                         (58,870)       (58,560)
    Limited partners                        (45,770)       (15,047)

          Total partners' deficit         ($104,640)      ($73,607)

    Total liabilities and
partner's deficit                         $4,835,885     $4,763,805

See accompanying notes to the financial statements.
</TABLE>

<TABLE>
   Capital  Builders
Development  Properties
(A  California  Limited
      Partnership)

     STATEMENTS  OF
       OPERATIONS
THREE  AND  SIX  MONTHS
    ENDED  JUNE 30,

<CAPTION>
                                  2000                    1999
                            Three       Six        Three       Six
                            Months     Months     Months      Months
                            Ended      Ended       Ended      Ended
<S>                          <C>        <C>         <C>        <C>
Revenues
  Rental and other
income                      $247,372   $421,649   $132,887   $249,343
  Interest income                690         801        375        922

          Total revenues     248,062     422,450    133,262    250,265

Expenses
  Operating expenses          36,789      75,350     32,557      67,050
  Repairs and
maintenance                   18,113     50,943     14,480     45,144
  Property taxes              13,885      27,771     11,719     26,514
  Interest                   130,888     231,016     82,361    167,397
  General and
administrative                21,563     49,022     19,160     47,673
  Depreciation and
amortization                   9,107      19,381     44,104     87,712

          Total expenses     230,345     453,483    204,381    441,490

Net income/(loss)             17,717    (31,033)   (71,119)  (191,225)

Allocated to general
partners                         177      (310)      (711)    (1,912)

Allocated to limited
partners                     $17,540  ($30,723)  ($70,408)  ($189,313)

Net income/(loss) per
limited partnership
unit                           $1.27     ($2.23)    ($5.11)   ($13.73)

Average units
outstanding                   13,787     13,787     13,787     13,787

See accompanying notes to the financial statements.
</TABLE>

<TABLE>
   Capital  Builders  Development
             Properties
      (A  California  Limited
            Partnership)

    STATEMENTS  OF  CASH  FLOWS
 FOR  THE  SIX  MONTHS  ENDED  JUNE
                30,

<CAPTION>
                                         2000           1999
<S>                                       <C>            <C>
Cash flows from operating
activities:
  Net loss                               ($31,033)    ($191,225)
  Adjustments to reconcile net loss
     to cash flows used in
     operating activities:
  Depreciation and amortization             19,381        87,712
  Changes in assets and liabilities
    (Increase)/Decrease in
accounts receivable                       (11,884)         7,812
    Increase in leasing commissions       (25,279)      (41,874)
    Decrease/(Increase) in other
assets                                         987       (1,102)
    (Decrease)/Increase in accounts
payable and accrued liabilities           (45,545)        12,508
    Increase in tenant deposits              2,854        10,938

          Net cash used in
          operating activities            (90,519)     (115,231)

Cash flows from investing
activities:
  Improvements to investment
properties                               (357,000)      (33,747)

          Net cash used in
          investing activities           (357,000)      (33,747)

Cash flows from financing
activities:
  Payments on notes & loan payables       (20,355)      (20,553)
  Proceeds from notes & loan
payables                                   495,066       195,304
  Payment of loan fees                    (20,715)      (11,584)
  Proceeds on loans payable to
affiliate                                    4,905     - - - - -

          Net cash provided by
          financing activities             458,901       163,167

Net Increase in cash                        11,382        14,189

Cash, beginning of period                   23,679        17,206

Cash, end of period                        $35,061       $31,395

Supplemental disclosure:

Cash paid for interest                   $ 238,928     $ 167,397

Non cash investing and financing
activity:
  Capital improvements financed
through accounts payable and
accrued liabilities                      $ 333,812     - - - - -

See accompanying notes to the financial statements.

</TABLE>


               Capital Builders Development Properties
                 (A California Limited Partnership)


                    NOTES TO FINANCIAL STATEMENTS
                            June 30, 2000

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND
         ORGANIZATION

A  summary  of  the significant accounting policies applied  in  the
preparation of the accompanying financial statements follows:

Basis of Accounting

The  financial statements of Capital Builders Development Properties
(The  "Partnership") are prepared on the accrual basis and therefore
revenue is recorded as earned and costs and expenses are recorded as
incurred.

Organization

Capital   Builders  Development  Properties,  a  California  Limited
Partnership,  is  owned under the laws of the State  of  California.
The Managing General Partner is Capital Builders, Inc., a California
corporation (CB).

The Partnership is in the business of real estate development and is
not  a  significant  factor  in  its  industry.   The  Partnership's
investment  properties  are  located near  major  urban  areas  and,
accordingly,  compete  not  only with similar  properties  in  their
immediate areas but with hundreds of properties throughout the urban
areas.   Such  competition is primarily on the basis  of  locations,
rents,   services  and  amenities.   In  addition,  the  Partnership
competes  with  significant numbers of individuals or  organizations
(including  similar  companies, real estate  investment  trusts  and
financial  institutions) with respect to the purchase  and  sale  of
land,  primarily  on  the  basis of the prices  and  terms  of  such
transactions.

Accounting Pronouncements

On  December 3, 1999, the Securities Exchange Commission staff issued
Staff  Accounting Bulletin No. 101, Revenue Recognition in  Financial
Statements  (SAB  101).  SAB 101 summarizes certain  of  the  staff's
views in applying generally accepted accounting principles to revenue
recognition in financial statements.  SAB 101 was adopted on  January
1, 2000.  Management believes the adoption of SAB 101 does not have a
material impact on the financial statements.

Investment Properties

On   July  1,  1999,  the  Partnership's  investment  property   was
reclassified  as  a  long-lived asset  to  be  disposed  of  and  is
currently listed for sale.  Assets to be disposed of are reported at
the  lower of the carrying amount or fair value less cost  to  sell.
Subsequent  revisions in estimates of fair value less cost  to  sell
are  reported  as adjustments to the carrying amount, provided  that
the  carrying  amount  does not exceed the initial  carrying  amount
before  an adjustment was made to reflect the decision to  sell  the
asset.   As  of  July  1, 1999, the fair value of the  Partnership's
investment property less cost to sell exceeded the carrying  amount.
Therefore, no adjustment was made to the carrying amount.

The  Partnership's investment property consists of commercial  land,
buildings  and  leasehold  improvements  that  are  carried  net  of
accumulated depreciation.  Depreciation is provided for  in  amounts
sufficient  to  relate the cost of depreciable assets to  operations
over  their  estimated service lives of three to forty  years.   The
straight-line  method  of  depreciation is  followed  for  financial
reporting  purposes.   Due to the Partnership's investment  property
being  reclassified  as  a  long lived  asset  to  be  disposed  of,
depreciation expense has not been recorded subsequent to the  second
quarter of 1999.

In accordance with Financial Account Standard No. 34, Capitalization
of  Interest Cost, interest associated with borrowings used to  fund
construction  in  process have been capitalized  in  the  amount  of
$28,615  and $-0-, respectively, for the six months ended  June  30,
2000 and 1999.

Other Assets

Included in other assets are loan fees, which are amortized over the
life of the related note.

Lease Commissions

Lease  commissions  are no longer amortized over the  related  lease
terms  due to being an intangible directly related to the investment
property, which is classified as held for sale.

Income Taxes

The  Partnership does not provide for income taxes since all  income
or  losses  are reported separately on the individual partners'  tax
returns.

Revenue Recognition

Rental  income is recognized on a straight-line basis over the  life
of the lease, which may differ from the scheduled rental payments.

Net Income/(Loss) per Limited Partnership Unit

The net income/(loss) per Limited Partnership unit is computed based
on the weighted average number of units outstanding of 13,787 during
the periods ending June 30, 2000 and 1999.

Statement of Cash Flows

For  purposes  of  the  statements of cash  flows,  the  Partnership
considers  all short-term investments with a maturity,  at  date  of
purchase, of three months or less to be cash equivalents.

Use of Estimates

The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates
and  assumptions  that  affect the reported amounts  of  assets  and
liabilities  and disclosure of contingent assets and liabilities  at
the  date  of the financial statements and the reported  amounts  of
revenues  and expenses during the reporting period.  Actual  results
could differ from those estimates.


NOTE 2 - LIQUIDITY

Additional lease-up in Plaza de Oro's existing Phase I increased the
project's  overall  occupancy to 90% during the  second  quarter  of
2000.  This lease-up has improved the Partnership's ability to  meet
current  year obligations, but additional leasing is still  required
to fully meet its obligations.

During   the  first  quarter  2000,  the  Partnership  obtained   an
additional  $300,000 working capital/tenant improvement  loan.   The
proceeds from this loan paid down the $150,000 interim loan,  funded
the  shortfall from operations due to negative cash flow during  the
first  quarter,  and  paid  for a portion of  building  improvements
during the first quarter.

Due  to  the property approaching a stabilized occupancy, Management
listed  the property for sale with an independent brokerage firm  on
July  1, 1999.  The estimated sales proceeds are projected to be  in
excess of current obligations.  A property sale contract was entered
into on March 23, 2000, which has an expected closing date of August
31, 2000.  This contract offer does not represent a guaranteed sales
price, and at this time, Management has not finalized a plan for the
use  of  the proceeds from the sale of the property.  If the current
offer  does  result  in  a  sale and  if  a  plan  to  dissolve  the
Partnership  is adopted, approximately 14% of the original  invested
capital would be available for distribution.


NOTE 3 - RELATED PARTY EXPENSE REIMBURSEMENT AND FEE ARRANGEMENT

The  Managing  General  Partner (Capital  Builders,  Inc.)  and  the
Associate General Partners are entitled to reimbursement of expenses
incurred  on  behalf of the Partnership and certain  fees  from  the
Partnership.  These fees include: a property management fee up to 6%
of  gross revenues realized by the Partnership with respect  to  its
properties; a subordinated real estate commission of up to 3% of the
gross sales price of the properties; and a subordinated 25% share of
the  Partnership's distributions of cash from sales or  refinancing.
The  property management fee currently being charged is 5% of  gross
rental revenues collected.

All acquisition fees and expenses, all underwriting commissions, and
all  offering  and organizational expenses which  can  be  paid  are
limited to 20% of the gross proceeds from sales of Partnership units
provided  the  Partnership  incurs  no  borrowing  to  develop   its
properties.  However, these fees may increase to a maximum of 33% of
the  gross  offering proceeds based upon the total  acquisition  and
development costs, including borrowing.  Since the formation of  the
Partnership,  27.5%  of these fees were paid  to  the  Partnership's
related  parties, leaving a remaining maximum of 5.5% ($379,143)  of
the  gross  offering  proceeds.  The remaining fees  (including  the
subordinated  real  estate commissions, the  subordinated  share  of
distribution  and  the  remaining acquisition  fees)  would  not  be
payable based on the current contract sale price of the assets to be
disposed of.

The  total management fees paid to the Managing General Partner were
$26,604  and $-0- for the six months ended June 30, 2000  and  1999,
respectively.   Total  reimbursement of  expenses  was  $37,684  and
$10,522,  respectively.   The Partnership  has  accrued  $49,044  of
management fees and cost reimbursements as of June 30, 2000.


NOTE 4 - INVESTMENT PROPERTIES

The components of the investment property account are as follows:

                                    June 30,   December 31,
                                     2000            1999
Land                               $1,353,177     $1,353,177
Building and Improvements           4,075,029      3,281,797
Tenant Improvements                   579,967        577,747
Construction in Progress              - - - -        772,264
Investment properties, at cost      6,008,173      5,984,985

Less: accumulated depreciation
        and amortization          (1,470,519)    (1,470,519)

     Investment property, net      $4,537,654     $4,514,466


NOTE 5 - LOAN PAYABLE TO AFFILIATE

The  loan  payable at June 30, 2000 and December 31, 1999 represents
funds  advanced  to  the  Partnership from  Capital  Builders,  Inc.
(General Partner).  These funds were utilized to cover negative cash
flow from operations.  The loan bears interest at approximately  the
same  rate charged to the Partnership by a bank for other borrowings
(9.25%  as  of  June  30,  2000) and is payable  upon  demand.   The
Partnership  accrued interest of $11,934 and $7,154 for the  periods
ending June 30, 2000 and December 31, 1999, respectively.


NOTE 6 - NOTES PAYABLE

Notes Payable consist of the following:
                                              June 30,   December 31,
                                                2000         1999
Mini-permanent loan with a fixed interest
rate    of   9.25%,   requiring   monthly
principal   and  interest   payments   of
$28,689,  which is sufficient to amortize
the  loan over 25 years.  The loan is due
April    1,    2002.    The    note    is
collateralized by a First Deed  of  Trust
on    Phase   I   land,   buildings   and
improvements,  and is guaranteed  by  the
General Partner.                             $3,220,299   $3,242,885

Construction  loan  in  the   amount   of
$1,123,000,  which  accrues  interest  at
Prime  +1% (Prime as of June 30, 2000  is
9.5%)  and  is due August 19,  2000.  The
loan  provides for a six month  extension
period.  Interest accrues monthly on  the
outstanding  balance  of  the  cumulative
construction   loan  draws.    The   Note
provides for future draws of $159,531 for
construction costs.  This loan is secured
by a First Deed of Trust on Phase II land
and  improvements, and is  guaranteed  by
the General Partner.                            963,469      616,172

A  construction  loan in  the  amount  of
$190,000  due  March 1, 2001.   The  note
requires interest only payments and bears
interest at 13.5%.  The note is a  Second
Deed  of  Trust  on  Phase  II  land  and
improvements.  A restricted cash  reserve
balance  is maintained to service monthly
payments  until October  31,  2000.   The
restricted  cash balance as of  June  30,
2000 and December 31, 1999 was $6,703 and
$19,362, respectively.                          190,000      190,000

Interim     tenant    improvement/leasing
commission loan of $150,000 due March  1,
2000,  which was paid in full.  The  note
required interest only payments and  bore
interest at 15%.  The note was secured by
a  Second Deed Of Trust on Plaza de Oro's
Phase I land and improvements.                      -0-      150,000

Interim    working    capital,     tenant
improvement/leasing  commission  loan  of
$300,000  due  March 1, 2001.   The  Note
requires interest only payments and bears
interest at 15%.  The Note is secured  by
a  Second Deed of Trust on Plaza de Oro's
Phase I land and improvements.                  300,000          -0-

Total Notes Payable                          $4,673,768   $4,199,057

Scheduled principal payments during 2000, 2001, and 2002 are
$996,726, $531,071, and $3,145,971, respectively.


NOTE 7 - LEASES

The  Partnership leases its properties under long-term noncancelable
operating  leases  to  various tenants.  The facilities  are  leased
through  agreements  for rents based on the square  footage  leased.
Minimum annual base rental payments under these leases for the years
ending December 31 are as follows:

                    2000                     $  610,613
                    2001                        612,014
                    2002                        358,378
                    2003                        165,876
                    2004                        163,335
                    Thereafter                   33,041
                    Total                    $1,943,257


NOTE 8 - FAIR VALUE OF FINANCIAL INSTRUMENTS

The  following methods and assumptions were used by the  Partnership
in estimating it's fair value disclosures for financial instruments.

     Notes payable
     The fair value of the Partnership's notes payable are estimated
     based  on  the  quoted market prices for the  same  or  similar
     issues  or on the current rates offered to the Partnership  for
     debt of the same remaining maturities.

The estimated fair values of the Partnership's financial instruments
are as follows:

                        June 30, 2000           December 31,1999
                    Carrying   Estimated      Carrying    Estimated
                     Amount    Fair Value     Amount      Fair Value
Liabilities
Loan payable
 to affiliate       $109,236    $109,236       $104,331    $104,331
Note payable      $3,220,299  $3,220,299     $3,242,885  $3,242,885
Note payable        $963,469    $963,469       $616,172    $616,172
Note payable        $190,000    $190,000       $190,000    $190,000
Note payable           - - -       - - -       $150,000    $150,000
Note payable        $300,000    $300,000          - - -       - - -


NOTE 9 - COMMITMENTS AND CONTINGENCIES

The  Partnership is involved in litigation primarily arising  in  the
normal  course  of its business.  In the opinion of  management,  the
Partnership's  recovery  or  liability, if  any,  under  any  pending
litigation  would  not materially affect its financial  condition  or
operations.

NOTE 10 - PROSPECTIVE ACCOUNTING PRONOUNCEMENTS

Accounting for Derivative Instruments and Hedging Activity

In  June  1998,  the  FASB  issued  SFAS  No.  133,  Accounting  for
Derivative  Instruments and Hedging Activities.   SFAS  No.  133  as
amended  is  effective  for  all fiscal  quarters  of  fiscal  years
beginning  after  June  15,  2000.   Management  believes  that  the
adoption  of  SFAS No. 133 will not have a material  impact  on  the
financial statements due to the Partnership's inability to invest in
such instruments as stated in the Partnership agreement.


ITEM 2.   MANAGEMENT'S   DISCUSSION  AND   ANALYSIS   OF   FINANCIAL
          CONDITION AND RESULTS OF OPERATIONS

Liquidity and Capital Resources

The  Partnership commenced operations on September 19, 1985 upon the
sale  of  the  minimum  number of Limited  Partnership  Units.   The
Partnership's  initial source of cash was from the sale  of  Limited
Partnership  Units.  Through the offering of Units, the  Partnership
has  raised  $6,893,500 (represented by 13,787  Limited  Partnership
Units).   Cash generated from the sale of Limited Partnership  Units
has been used to acquire land and for the development of a mixed use
commercial  project  and  a  60% interest  in  a  commercial  office
project.

During the six months ended June 30, 2000, cash increased by $11,382.
This  was the result of net cash provided by financing in the  amount
of  $458,901, which was offset by negative cash flow from  operations
of  $90,519  and net cash used for Phase II building improvements  of
$357,000.

The negative cash flow from operations is primarily the result of the
project's remaining vacant space, the leasing commissions paid  year-
to-date  to lease-up a portion of its vacant space, and the reduction
of accounts payable.

In  order  to temporarily solve the Partnership's cash flow  problem,
Management  obtained  a 12 month, $300,000 interim  loan  during  the
first  quarter 2000.  This loan allowed the Partnership  to  pay  for
Phase  I  lease-up costs, 2000 operating deficits, and Phase II  cost
increases.

During  the  second quarter of 2000, the 9,424 square foot  Phase  II
office/retail  building was completed and placed into  service.   The
building  is  currently partially occupied by  a  6,424  square  foot
tenant, and lease negotiations are in process for an additional 1,500
square foot tenant.

Plaza de Oro's Phase I and Phase II were listed for sale on July  1,
1999  with an independent brokerage firm.  There has been  an  offer
received,  but  this  offer does not represent  a  guaranteed  sales
price.   The project's current offering price less costs to sell  is
in   excess  of  the  carrying  value  of  the  property   and   the
Partnership's current obligations.  At this time, Management has not
finalized  a  plan  for the use of proceeds from  the  sale  of  the
property.

Results of Operations

During  the  six months ended June 30, 2000 as compared to  June  30,
1999, the Partnership's total revenues increased by $172,185 (68.8%),
while its expenses also increased by $11,993 (2.7%), all resulting in
a decrease in net loss of $160,192.

The  increase  in  revenues  is due to  the  increase  in  Phase  I's
occupancy  to  93% from 68% at June 30, 2000 and 1999,  respectively.
Additionally,  Phase  II  began providing rental  income  during  the
second quarter of 2000.

Total  expenses decreased for the six months ended June 30,  2000  as
compared to June 30, 1999, due to the net effect of:
a)   $8,300  (12.4%)  increase in operating expenses  due  to  higher
utility costs incurred for the office building due to an increase  in
occupancy;
b)    $5,799  (12.8%)  increase  in repair  and  maintenance  due  to
additional  clean-up  costs incurred in preparing  the  property  for
sale;
c)   $63,619 (38%) increase in interest due to interest incurred  for
additional borrowings for Phase II and the additional operating loan,
plus interest accrued on the affiliate loan; and
d)   $68,331 (77.9%) decrease in depreciation and amortization due to
depreciation  no longer being taken subsequent to the second  quarter
1999,  as the Partnership's property had been reclassified as a  long
lived asset to be disposed of.

During the second quarter ended June 30, 2000 as compared to June 30,
1999,  revenues  increased by $114,800 (86.1%), while  expenses  also
increased by $25,964 (12.7%).  The increase in revenue is due to  the
increase  in  occupancy of Phase I, as well as Phase II being  placed
into service in April 2000, thereby generating revenue.  The increase
in  expenses  is primarily due to the increase in interest  cost  for
Phase II borrowings and the operating loan.


ITEM 3.   QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISKS

The  Partnership  does  not  have a  material  market  risk  due  to
financial  instruments held by the Partnership.   The  Partnership's
variable rate instruments consist of a loan payable to affiliate and
a  construction loan for Phase II.  The total outstanding balance of
the  loan payable to affiliate at June 30, 2000 was $109,236,  while
the total outstanding balance of the construction loan was $963,469.


                     PART II - OTHER INFORMATION

Item 1         -    Legal Proceeding
                         The Partnership is not a party to, nor is
               the Partnership's property the subject of, any
               material pending legal proceedings.

Item 2    -    Not applicable

Item 3    -    Not applicable

Item 4    -    Not applicable

Item 5    -    Not applicable

Item 6    -    Exhibits and Reports on Form 8-K

          (a)  Exhibits - None
          (b)  Reports on Form 8-K - None


                             SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of  1934,
the  registrant  has dully caused this report to  be  signed  on  its
behalf by the undersigned, hereunto dully authorized.

                              CAPITAL BUILDERS DEVELOPMENT PROPERTIES
                              a California Limited Partnership

                              By:  Capital Builders, Inc.
                              Its Corporate General Partner


Date:  August 11, 2000             By:
                                   Michael J. Metzger
                                   President


Date:  August 11, 2000             By:
                                   Kenneth L. Buckler
                                   Chief Financial Officer