13

                            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 September 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>
                                          September 30,   December 31,
                                              2000            1999
<S>                                            <C>            <C>
ASSETS
  Cash and cash equivalents                  $1,135,259        $23,679
  Accounts receivable, net                        3,371         58,194
  Investment property, held for sale, at
    cost, net of accumulated
    depreciation and amortization of
    $1,470,519 at December 31, 1999           - - - - -      4,514,466

  Lease commissions, net of accumulated
    amortization of $107,412 at
    December 31, 1999                         - - - - -         87,948

  Other assets, net of accumulated
    amortization of $71,538 at
    December 31, 1999                         - - - - -         79,518

           Total assets                      $1,138,630     $4,763,805

LIABILITIES AND PARTNERS'
  CAPITAL/(DEFICIT)
  Notes payable                          $    - - - - -     $4,199,057
  Loan payable to affiliate                   - - - - -        104,331
  Accounts payable and accrued
    liabilities                                 169,022        489,667
  Tenant deposits                             - - - - -         44,357

           Total liabilities                   $169,022     $4,837,412

  Commitments and contingencies
  Partners' Capital/(Deficit):
    General partner                            (48,128)       (58,560)
    Limited partners                          1,017,736       (15,047)

           Total partners'
           capital/(deficit)                   $969,608      ($73,607)

    Total liabilities and partner's
      capital/(deficit)                  $    1,138,630   $  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  NINE  MONTHS
 ENDED  SEPTEMBER  30,

<CAPTION>
                                  2000                 1999
                            Three       Nine       Three       Nine
                           Months      Months      Months     Months
                            Ended      Ended       Ended      Ended
<S>                          <C>        <C>         <C>        <C>
Revenues
  Rental and other          $145,593    $567,242   $153,801   $403,144
    income
  Interest income              3,673      4,474        164      1,086

          Total revenues     149,266     571,716    153,965    404,230

Expenses
  Operating expenses          50,907     126,257     35,258     102,308
  Repairs and                 15,221      66,164     18,248     63,392
    maintenance
  Property taxes               9,102      36,873     18,768     45,282
  Interest                    73,334    304,350     98,926    266,323
  General and                 21,859      70,881     19,038     66,711
    administrative
  Depreciation and
    amortization               3,036      22,417     10,329     98,041

          Total expenses     173,459     626,942    200,567    642,057

Net loss from operations    (24,193)    (55,226)   (46,602)  (237,827)

Gain from sale of
investment property        1,098,441   1,098,441   - - - -     - - - - -
                                                -

Net income/(loss)          1,074,248   1,043,215   (46,602)  (237,827)

Allocated to general
partners                      10,742     10,432      (466)    (2,378)

Allocated to limited
partners                  $1,063,506 $1,032,783  ($46,136)  ($235,449)

Net income/(loss) per
limited partnership unit      $77.14      $74.91    ($3.35)   ($17.08)

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  NINE  MONTHS  ENDED  SEPTEMBER
                   30,

<CAPTION>
                                              2000         1999
<S>                                            <C>          <C>
     Cash flows from operating activities:
  Net income/(loss)                        $1,043,215)   ($237,827)
         Adjustments to reconcile net loss
     to cash flows used in
     operating activities:
  Gain from sale of investment property    (1,098,441)
  Depreciation and amortization                 22,417       98,041
  Changes in assets and liabilities
    Increase in accounts receivable           (13,352)        (777)
    Increase in leasing commissions           (45,137)     (49,961)
    Increase in other assets                     (714)      (4,887)
    (Decrease)/Increase in accounts
      payable and accrued liabilities        (119,118)       92,153
    (Decrease)/Increase in tenant
      deposits                                (44,357)       14,316

       Net cash used in
       operating activities                  (255,487)     (88,942)

     Cash flows from investing activities:
  Improvements to investment properties      (375,651)    (169,003)
  Net proceeds from sale of building         6,066,821    - - - - -

            Net cash provided by/(used in)
       investing activities                  5,691,170    (169,003)

     Cash flows from financing activities:
  Payments on notes & loan payables        (4,694,123)    (321,179)
  Proceeds from notes & loan payables          495,066      657,297
  Payment of loan fees                        (20,715)     (47,116)
  Payment of affiliate loan                  (109,236)    - - - - -
  Proceeds on loans payable to affiliate         4,905    - - - - -

            Net cash (used in)/provided by
       financing activities                (4,324,103)      289,002

Net Increase in cash and cash equivalents    1,111,580       31,057

Cash and cash equivalents, beginning of
period                                          23,679       17,206

Cash and cash equivalents, end of period    $1,135,259      $48,263

Supplemental disclosure:
  Cash paid for interest                     $ 304,350    $ 266,323

Non cash investing and financing activity:
     Capital improvements financed through
    accounts payable and accrued
    liabilities                              $ 132,285    $ 185,675

   See accompanying notes to the financial
                               statements.

</TABLE>




               Capital Builders Development Properties
                 (A California Limited Partnership)


                    NOTES TO FINANCIAL STATEMENTS
                         September 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.  As of August 18, 2000, the Partnership adopted a plan  to
dissolve  the  Partnership at which point  the  partnership  changed
their method of accounting to the liquidation basis.

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 sold its
remaining  investment property on August 30, 2000 (see  Note  2  for
further discussion).

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 did 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  was
subsequently sold on August 30, 2000 for $6,400,000.  After  payment
of  commissions  and  closing  costs, the  net  sale  proceeds  were
$6,066,821.   The  net  sales proceeds less the investment  property
adjusted basis resulted in a gain of $1,098,441.

In   accordance   with  Financial  Accounting   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 nine months  ended
September 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  was classified as held for sale, and  subsequently
sold on August 30, 2000.

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 September 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 / Distribution of Sales Proceeds

On  August 30, 2000, the Partnership's investment property was  sold
for  a  sales  price  of  $6,400,000, and a  plan  to  dissolve  the
Partnership was adopted.  The net proceeds to the Partnership  after
sales  commissions and closing costs amounted to $6,066,821.  As  of
September  30,  2000, the Partnership had paid all  of  its  current
obligations  which were due, consisting of $4,803,359 in  notes  and
affiliate  loan  payable, $119,118 in accounts payable,  and  tenant
security deposits of $44,357.

As  of  September  30, 2000, the Partnership has  a  remaining  cash
balance  of  $1,135,259.   This balance will  be  used  to  pay  the
Partnership's future obligations of $169,022 (previously  contracted
Phase II tenant improvement and construction costs), plus additional
costs incurred during the dissolution of the Partnership.

Management  estimates that the remaining cash to be  distributed  to
the  Limited Partners, after all partnership obligations  are  paid,
will  range  from  $950,000  to  $965,000.   This  distribution   is
projected to be made prior to December 31, 2000.


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 property management  fees
from  the  Partnership.  The property management fee  being  charged
prior to sale was 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,  the Partnership Agreement  provided  for  an
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.
No   additional  fees  (including  the  subordinated   real   estate
commissions,  the  subordinated  share  of  distribution   and   the
remaining acquisition fees) will be payable based on the sale  price
obtained for the assets.

The  total management fees paid to the Managing General Partner were
$84,324  (which included deferred fees from prior periods) and  $-0-
for the nine months ended September 30, 2000 and 1999, respectively.
Total   reimbursement  of  expenses  was  $  65,162   and   $67,584,
respectively.


NOTE 4 - INVESTMENT PROPERTIES

The components of the investment property account are as follows:

                                December 31,
                                      1999
Land                               $1,353,177
Building and Improvements           3,281,797
Tenant Improvements                   577,747
Construction in Progress              772,264
Investment properties, at cost      5,984,985

Less: accumulated depreciation
        and amortization                 -0-     (1,470,519)

     Investment property, net    $       -0-      $4,514,466


NOTE 5 - LOAN PAYABLE TO AFFILIATE

The  loan payable at 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 bore interest at approximately the  same  rate
charged to the Partnership by a bank for other borrowings (9.25%  as
of  August  30, 2000) and was payable upon demand.  The  Partnership
paid this loan and all secured unpaid interest in full on August 30,
2000.   Accrued interest of $13,650 and $7,154 was incurred for  the
periods   ending   September  30,  2000  and  December   31,   1999,
respectively.


NOTE 6 - NOTES PAYABLE

Notes Payable consist of the following:
                                             Sept. 30,     Dec. 31,
                                                2000         1999
Mini-permanent loan with a fixed interest
rate of 9.25%, required monthly principal
and  interest payments of $28,689,  which
was  sufficient to amortize the loan over
25  years.   The loan was  due  April  1,
2002.  The note was collateralized  by  a
First  Deed  of  Trust on Phase  I  land,
buildings  and  improvements,   and   was
guaranteed by the General Partner.             $   -0- $3,242,885

Construction  loan  in  the   amount   of
$1,123,000,  which  accrued  interest  at
Prime  +1% (Prime as of August  30,  2000
was  9.5%).  Interest accrued monthly  on
the outstanding balance of the cumulative
construction   loan  draws.    The   Note
provided   for  future  draws  for   con-
struction  costs.  This loan was  secured
by a First Deed of Trust on Phase II land
and  improvements, and was guaranteed  by
the General Partner.                                -0-      616,172

A  construction  loan in  the  amount  of
$190,000  which  was due March  1,  2001.
The  note required interest only payments
and bore interest at 13.5%.  The note was
a  Second Deed of Trust on Phase II  land
and   improvements.   A  restricted  cash
reserve  balance  was  required   to   be
maintained  to  service monthly  payments
until  October 31, 2000.  The  restricted
cash  balance  on December 31,  1999  was
$19,362.                                            -0-      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

Total Notes Payable                        $        -0-   $4,199,057


NOTE 7 - 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:

                       December 31,1999
                    Carrying   Estimated
                    Amount     Fair Value
Liabilities
Loan payable
 to affiliate       $104,331    $104,331
Note payable      $3,242,885  $3,242,885
Note payable        $616,172    $616,172
Note payable        $190,000    $190,000
Note payable        $150,000    $150,000


NOTE 8 - COMMITMENTS AND CONTINGENCIES

The Partnership is not involved in any litigation.


NOTE 9 - 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
raised $6,893,500 (represented by 13,787 Limited Partnership Units).
Cash  generated from the sale of Limited Partnership Units was  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  nine months ended September 30, 2000, cash increased  by
$1,111,580.   This was primarily the result of net cash  provided  by
the sale of the Partnership's final investment property.

During  the  third  quarter,  the  Partnership  sold  its  investment
property and paid all of its current obligations.  The remaining cash
from  sales proceeds, less any remaining Partnership obligations  and
expenses,  is  projected to be distributed prior to the  end  of  the
fourth quarter.

Results of Operations

During  the  nine  months ended September 30,  2000  as  compared  to
September  30,  1999, the Partnership's total revenues  increased  by
$167,486 (41.4%), while its expenses decreased by $15,115 (2.4%), all
resulting in a decrease in net loss from operations of $182,601.

The  increase in revenues is due to the increase in occupancy to  93%
from  85% at August 30, 2000 (date investment property was sold)  and
September  30,  1999,  respectively.  Additionally,  Phase  II  began
providing rental income during the second quarter of 2000.

Total expenses decreased for the nine months ended September 30, 2000
as compared to September 30, 1999, due to the net effect of:
a)   $23,949  (23.4%) increase in operating expenses  due  to  higher
utility costs incurred for the office building due to an increase  in
occupancy;
b)    $38,027  (14.3%) 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
c)   $75,624 (77.1%) 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.


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.

                     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 - dated August 30, 2000


                             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:  November 7, 2000            By:
                                   Michael J. Metzger
                                   President


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