16

                            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, 1999   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.

4700 Roseville Road, Suite 206, North Highlands, California 95660
(Address of Principal executive offices)               (Zip Code)


Registrant's telephone number, including area code:  (916)331-8080


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



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,
                                         1999             1998
<S>                                      <C>              <C>
ASSETS
  Cash and cash equivalents                 $31,395           $17,206
  Accounts receivable, net                   60,930            68,742
  Investment property,
    at cost, net of accumulated
    depreciation and amortization
    of $1,470,519 and $1,404,343
    at June 30, 1999 and December
    31, 1998, respectively                3,695,280         3,727,709

  Lease commissions, net of
    accumulated amortization of
    $107,412 and $99,899
    at June 30, 1999, and
    December 31,
    1998, respectively                       68,621            34,260

  Other assets, net of
    accumulated
    amortization of $57,396 and
    $43,372 at June 30, 1999, and
    December 31, 1998,
    respectively                             52,050           53,389

          Total assets                   $3,908,276        $3,901,306

LIABILITIES AND PARTNERS'
(DEFICIT) EQUITY
  Notes payable                          $3,704,391        $3,574,944
  Loan payable to affiliate                  69,304            24,000
  Accounts payable and accrued
    liabilities                             100,437            87,929
  Tenant deposits                            39,981            29,043

          Total liabilities              $3,914,113        $3,715,916

  Commitments and contingencies
  Partners' (Deficit) Equity:
    General partner                        (57,882)          (55,970)
    Limited partners                         52,045           241,360

    Total partners' (deficit)
    equity                                 ($5,837)         $185,390

          Total liabilities and
    partner's (deficit) equity           $3,908,276        $3,901,306

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>
                                 1999                   1998
                           Three      Six        Three        Six
                          Months     Months      Months     Months
                           Ended     Ended       Ended       Ended
<S>                         <C>       <C>         <C>         <C>
Revenues
  Rental and other
income                    $132,887   $249,343   $177,435    $349,798
  Interest income              375         922        111         160

        Total revenues     133,262     250,265    177,546     349,958

Expenses
  Operating expenses        32,557      67,050     42,433      78,125
  Repairs and
maintenance                 14,480     45,144     22,083      41,111
  Property taxes            11,719     26,514     14,113      28,298
 Interest                   82,361     167,397     86,353     167,717
  General and
administrative              19,160     47,673     18,971      49,707
  Depreciation and
amortization                44,104      87,712     59,646     115,243

         Total expenses    204,381     441,490    243,599     480,201

Net loss                  (71,119)   (191,225)   (66,053)   (130,243)

Allocated to general
partners                     (711)    (1,912)      (660)      1,302)

Allocated to limited
partners                 ($70,408) ($189,313)  ($65,393)  ($128,941)

Net loss per limited
   partnership unit        ($5.11)    ($13.73)    ($4.74)     ($9.35)

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
 THREE  AND  SIX  MONTHS
    ENDED  JUNE  30,

<CAPTION>
                             1999                  1998
                            Three       Six       Three      Six
                            Months     Months     Months    Months
                            Ended      Ended      Ended     Ended
<S>                          <C>        <C>        <C>       <C>
Cash flows from operating
activities:
  Net loss                ($71,119)  ($191,225)  ($66,053)  ($130,243)
  Adjustments to
reconcile net loss
to cash flows used in
operating activities:
  Depreciation and
amortization                 44,104     87,712     59,646    115,243
  Changes in assets and
liabilities
    Decrease in accounts
receivable                    8,373      7,812     13,679      7,907
    Increase in leasing
commissions                (32,369)   (41,874)    - - - -    - - - -
    Decrease/(Increase)
in other assets                 533    (1,102)      1,611      1,662
    (Decrease)/Increase
in accounts payable and
accrued liabilities        (44,726)     12,508   (51,514)    (22,552)
    Increase/(Decrease)
    in tenant deposits       10,364     10,938    (7,634)    (10,698)

     Net cash used in
     operating activities  (84,840)  (115,231)   (50,265)    (38,681)

Cash flows from investing
activities:
  Improvements to
investment properties      (33,747)   (33,747)    - - - -    (1,587)

     Net cash used in
     investing activities  (33,747)   (33,747)    - - - -     (1,587)

Cash flows from financing
activities:
  Payments on notes &
loan payables              (10,386)   (20,553)  (189,500)  (198,784)
  Proceeds from notes &
loan payables               167,412    195,304    290,000    290,000
  Payment of loan fees     (11,584)   (11,584)   (13,099)    (13,099)

      Net cash provided
      by financing
      activities            145,442    163,167     87,401      78,117

Net Increase in cash         26,855     14,189     37,136      37,849

Cash, beginning of period     4,540     17,206      3,023       2,310

Cash, end of period         $31,395    $31,395    $40,159     $40,159

Cash paid for interest      $82,361   $167,397    $86,353    $167,717

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


               Capital Builders Development Properties
                 (A California Limited Partnership)


                    NOTES TO FINANCIAL STATEMENTS
                            JUNE 30, 1999


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.

Effective  January 1999, the Partnership adopted SOP 98-1, Accounting
for the Costs of Computer Software Developed or Obtained for Internal
Use.   SOP  98-1  provides guidance on accounting for  the  costs  of
computer  software  developed  or obtained  for  internal  use.   The
adoption  of  SOP  98-1  did  not  have  a  material  impact  on  the
Partnership's financial statements.

Effective  January 1999, the Partnership adopted SOP 98-5,  Reporting
on  the Costs of Start-Up Activities.  SOP 98-5 provides guidance  on
the  financial  reporting of start-up costs and  organization  costs.
The  adoption  did  not have a material impact on  the  Partnership's
financial statements.

Investment Properties

Long-lived assets and certain identifiable intangibles are  reviewed
for  impairment whenever events or changes in circumstances indicate
that  the  carrying  amount  of an asset  may  not  be  recoverable.
Recoverability  of  assets to be held and  used  is  measured  by  a
comparison  of  the carrying amount of an asset to future  net  cash
flows  expected  to be generated by the asset.  If such  assets  are
considered  to  be  impaired, the impairment  to  be  recognized  is
measured  by the amount by which the carrying amount of  the  assets
exceed  the fair value of the assets.  During the second quarter  of
1999, the Partnership's investment property was reclassed 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 costs to sell.

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.

Other Assets

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

Lease Commissions

Lease commissions are being amortized over the related lease terms.

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 Loss per Limited Partnership Unit

The  net loss per Limited Partnership unit is computed based on  the
weighted  average  number of units outstanding during  the  year  of
13,787 in 1999 and 1998.

Statement of Cash Flows

For  purposes of statement 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

In  November  1998,  one  of Plaza de Oro's  major  office  tenants,
occupying  12,052  square  feet, filed  Chapter  11  Bankruptcy  and
vacated  its  suites.  Although the tenant's lease does  not  expire
until  January 31, 2001, it is unlikely that any future  collections
will be received on the lease.

The loss of this tenant has had a significant negative impact on the
Partnership's cash flow.  During and subsequent to the quarter ended
June  30, 1999, Management was successful in re-leasing 6,909 square
feet of the lost tenant's space, and 2,818 square feet of additional
office space and 7,020 of industrial space that became vacant during
1998.  Additionally,  Management was  successful  in  leasing  6,424
square  feet  of  the  pad building to be constructed.   During  the
quarter  ended  June  30, 1999, Management was  also  successful  in
securing  a  $150,000  interim loan to fund lease-up  and  operating
expenses for a 10 month period.

Now  that  the property is approaching a more stabilized  occupancy,
Management  listed the property for sale on July  1,  1999  with  an
independent  brokerage  firm.   The  estimated  sales  proceeds  are
projected to be in excess of current obligations, but there  are  no
offers pending or guaranteed sales price.

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 ultimate amount of  these  costs
will  be  determined  once the properties are  fully  developed  and
leveraged.

The  total management fees paid to the Managing General Partner were
$-0-  and  $7,960 for the six months ended June 30, 1999  and  1998,
respectively, while total reimbursement of expenses was $10,522  and
$41,765,  respectively.   The Partnership  has  accrued  $54,745  of
management fees and cost reimbursements as of the period ended  June
30, 1999.

NOTE 4 - INVESTMENT PROPERTIES

The components of the investment property account, are as follows:

                                    June 30,   December 31,
                                     1999            1998
Land                               $1,353,177     $1,353,177
Building and Improvements           3,298,933      3,289,420
Tenant Improvements                   513,689        489,455
Investment properties, at cost      5,165,799      5,132,052

Less: accumulated depreciation
        and amortization          (1,470,519)    (1,404,343)

     Investment property, net      $3,695,280     $3,727,709

NOTE 5- LOAN PAYABLE TO AFFILIATE

The  loan payable at June 30, 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
1999) and is payable upon demand.

NOTE 6 - NOTES PAYABLE

Notes Payable consist of the following at:

                                              June 30,   December 31,
                                                1999         1998
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  the land, buildings and improvements,
and is guaranteed by the General Partner.    $3,264,391   $3,284,944

Land  loan of $290,000 due May  1,  1999,
which  has been extended to September  1,
1999.   The  note requires interest  only
payments  and  bears interest  at  12.5%.
The  note  is secured by Plaza  de  Oro's
separately parceled Phase II land.              290,000      290,000

Interim     tenant    improvement/leasing
commission loan of $150,000 due March  1,
2000.   The  note requires interest  only
payments and bears interest at 15%.   The
note  is a Second Deed Of Trust on  Plaza
de Oro's Phase I land and improvements.         150,000      - - - -

Total Notes Payable                          $3,704,391   $3,574,944


Scheduled principal payments during 1999, 2000, 2001, and  2002  are
$311,614, $196,236, $50,699, and $3,145,842, 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:

                    1999                       $433,427
                    2000                        420,672
                    2001                        369,721
                    2002                        137,253
                    Total                    $1,361,073

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, 1999          December 31, 1998
                      Carrying   Estimated     Carrying   Estimated
                        Amount  Fair Value       Amount  Fair Value
Liabilities
Loan payable
  to affiliate         $69,304     $69,304      $24,000     $24,000
Note payable        $3,264,391  $3,264,391   $3,284,944  $3,284,944
Note payable          $290,000    $290,000     $290,000    $290,000
Note Payable          $150,000    $150,000      - - - -     - - - -

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

Year 2000 Issue

The  potential  impact  of the Year 2000 issue  on  the  real  estate
industry could be material, as virtually every aspect of the industry
and processing of transactions will be affected.  Due to the size  of
the  task  facing  the real estate industry, the Partnership  may  be
adversely  affected by the problem, depending on whether it  and  the
entities with which it does business address this issue successfully.
The  impact  of Year 2000 issues on the Partnership will then  depend
not  only on corrective actions that the Partnership takes, but  also
on  the  way  in which Year 2000 issues are addressed by governmental
agencies, businesses and other third parties that provide services or
data to, or received services or data from, the Partnership, or whose
financial  condition or operational capability is  important  to  the
Partnership.

The Partnership's State of Readiness

The  Partnership engages the services of third-party software vendors
and  service  providers for substantially all of its electronic  data
processing.   Thus, the focus of the Partnership is  to  monitor  the
progress   of  its  primary  software  providers  toward  Year   2000
readiness.

The Partnership's Year 2000 program has been divided into phases, all
of them common to all sections of the process:  (1) inventorying date-
sensitive  information  technology and other  business  systems;  (2)
assigning  priorities to identified items and assessing  the  efforts
required  for Year 2000 readiness of those determined to be  material
to  the  Partnership; (3) upgrading or replacing material items  that
are  determined  not to be Year 2000 compliant and  testing  material
items;  (4)  assessing  the  status of third  party  risks;  and  (5)
designing  and  implementing contingency  and  business  continuation
plans.

In  the  first phase, the Partnership conducted a thorough evaluation
of   current  information  technology  systems  and  software.   Non-
information  technology  systems such  as  climate  control  systems,
elevators and security equipment has also been surveyed.

In phase two of the process, results from the inventory were assessed
to  determine the Year 2000 impact and what actions were required  to
achieve Year 2000 readiness.  For the Partnership's internal systems,
application  upgrades of software are needed.   The  Partnership  has
opted  for  a  course  of  action that will result  in  upgrading  or
replacing all critical internal systems.

The third phase includes the upgrading, replacement and/or retirement
of  systems,  and  testing.  This stage of the Year 2000  process  is
ongoing  and  is  scheduled to be completed by the third  quarter  of
1999.

The  fourth phase, assessing third party risks, includes the  process
of  identifying and prioritizing critical suppliers and customers  at
the  direct  interface level.  This evaluation includes communicating
with  the  third parties about their plans and progress in addressing
Year  2000  issues.   The  Partnership's  management  has  identified
critical  third parties and developed a letter inquiring about  their
company's Year 2000 program.  These letters were sent in April, 1999.
Responses  received to date indicate all parties expect  to  be  Year
2000  ready prior to December 31, 1999.  A second letter will be sent
to those parties who did not respond to the first letter.

Contingency Plan

The  final  phase of the Partnership's Year 2000 program  relates  to
contingency  plans.  The Partnership maintains contingency  plans  in
the normal course of business designed to be deployed in the event of
various   potential   business  interruptions.    The   Partnership's
contingency  plan includes maintaining hard copies of tenant  leases,
vendor contracts, and accounting records to ensure the maintenance of
its  accounting system and to help facilitate the collection of rents
and payments to vendors during computer interruptions.

Costs

As  the  Company relies upon third-party software vendors and service
providers  for  substantially all of its electronic data  processing,
the  primary cost of the Year 2000 Project has been and will continue
to be the reallocation of internal resources and, therefore, does not
represent incremental expense to the Partnership.

Risks

Failure  to correct a material Year 2000 problem could result  in  an
interruption in, or a failure of, certain normal business  activities
or   operations.    The   Partnership   believes   that,   with   the
implementation of new or upgraded business systems and completion  of
the  Year  2000 Project as scheduled, the possibility of  significant
interruptions  of  normal  operations due to  the  failure  of  those
systems  will be reduced.  However, the Partnership is also dependent
upon  the  power  and  telecommunications infrastructure  within  the
United States.  The most reasonably likely worst case scenario  would
be  that  the Partnership may experience disruption in its operations
if  any  of  these  third-party suppliers reported a system  failure.
Although the Partnership's Year 2000 Project will reduce the level of
uncertainty   about   the  readiness  of  its  material   third-party
providers, due to the general uncertainty over Year 2000 readiness of
these  third-party suppliers, the Partnership is unable to  determine
at this time whether the consequences of Year 2000 failures will have
a material impact.

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, 1999, a net increase in cash  of
$14,189 was recognized by the Partnership.  This was the result of  a
negative cash flow from operations of $115,231, net cash used in  the
amount  of  $33,747  for tenant improvements relating  to  additional
leased  space,  and net cash provided by financing in the  amount  of
$163,167.

The negative cash flow from operations is primarily the result of the
project's  vacant space and the leasing commissions paid  during  the
second quarter to lease up a portion of its vacant space.

During and subsequent to June 30, 1999, Management was successful  in
re-leasing  9,727 square feet of office space, 7,020 square  feet  of
industrial  space, and 6,424 square feet of the pad  building  to  be
constructed.   This  lease up will continue to  decrease  future  net
losses from operations, but it is still necessary for the property to
continue to lease up in order for the Partnership to meet its current
obligations.

In  order  to temporarily solve the Partnership's cash flow  problem,
Management  obtained a 10 month, $150,000 interim  loan,  during  the
second  quarter 1999.  This loan should allow the Partnership to  pay
for Phase I lease-up costs and 1999 operating deficits.

Management  intends within the next six months to  also  develop  the
remaining pad with a 9,860 square foot office/retail building.  Lease
terms  for  this building have been finalized with a tenant requiring
approximately  6,424  square feet.  A construction  loan  is  in  the
process of being obtained to pay off the existing land loan and  fund
the  building improvements.  Management anticipates a loan to  be  in
place by the end of August 1999.

Plaza  de Oro's Phase I and Phase II were listed for sale on July  1,
1999  with  an  independent brokerage firm.   The  project's  current
asking price less costs to sell is in excess of the carrying value of
the  property and the Partnership's current obligations.   Presently,
there  are  no  pending offers or identified buyers;  therefore,  the
final sales prices cannot be determined at this time.

Results of Operations

During  the  six months ended June 30, 1999 as compared to  June  30,
1998,  the Partnership's total revenues decreased by $99,693 (28.5%),
while  its expenses decreased by $38,711 (8.1%), all resulting in  an
increase in net loss of $60,982.

The  decrease in revenues is primarily due to one of Plaza  de  Oro's
major  office  tenants, who had occupied 12,052 square  feet,  filing
Chapter 11 Bankruptcy during the fourth quarter of 1998.

Total  expenses decreased for the six months ended June 30,  1999  as
compared to June 30, 1998, due to the net effect of:
a)   $11,075  (14.2%)  decrease in operating expenses  due  to  lower
management fees and utility costs associated with vacant space during
1999;
b)   $27,531 (23.9%) decrease in depreciation and amortization due to
less tenant improvements in place during 1999.

During the second quarter ended June 30, 1999 as compared to June 30,
1998, revenues decreased by $44,284 (24.9%), while expenses decreased
by  $39,218  (16.1%).  The decrease in revenue is due  to  the  major
office  tenant  filing for Bankruptcy as previously  discussed.   The
decrease  in  expenses  is due to a decrease  in  operating  expenses
associated with lower occupancy and a decrease in depreciation due to
less tenant improvements in place during 1999.


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 only variable
note instrument consists of a loan payable to affiliate in the amount
of $69,304.



                     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 6, 1999         By:
                                   Michael J. Metzger
                                   President


Date:  August 6, 1999         By:
                                   Kenneth L. Buckler
                                   Chief Financial Officer