15

                            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, 1998   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
                                            1998           1997
<S>                                         <C>             <C>
ASSETS                                                             
  Cash and cash equivalents                 $40,159          $2,310
  Accounts receivable, net                  112,245         120,152
  Investment property, at cost,                                    
    net of accumulated depreciation                                
    and amortization of $1,273,902                                 
    and $1,227,226 at June 30,                                     
   1998 and December 31, 1997,                                     
    respectively                          3,858,150       3,947,695
                                                                   
  Lease commissions, net of accumulated                            
    amortization of $65,405 and 58,098                             
    at June 30, 1998, and December 31,                             
    1997, respectively                       67,661          80,188
                                                                   
  Other assets, net of accumulated                                 
    amortization of $28,964 and                                    
    $17,382 at June 30, 1998, and                                  
    December 31, 1997, respectively          68,837          68,984
                                                                   
                    Total assets         $4,147,052      $4,219,329
                                                                   
LIABILITIES AND PARTNERS' EQUITY                                   
  Notes payable                          $3,594,614      $3,503,398
  Accounts payable and accrued                                     
    liabilities                              65,705          88,257
  Tenant deposits                            41,291          51,989
                                                                   
                    Total liabilities    $3,701,610      $3,643,644
                                                                   
  Commitments and contingencies                                    
  Partners' Equity:                                                
    General partner                        (53,369)        (52,067)
    Limited partners                        498,811         627,752
                                                                   
                   Total partners'         $445,442        $575,685
equity
                                                                   
    Total liabilities and partners'      $4,147,052      $4,219,329
equity
                                                                   
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>                                                     
                         1998                   1997          
                        Three       Six         Three       Six
                        Months     Months      Months      Months
                        Ended      Ended        Ended      Ended
<S>                      <C>        <C>          <C>        <C>
Revenues                                                           
  Rental and other                                                 
income                 $177,435   $349,798     $291,611    $645,802
  Interest income           111        160          286         572
                                                                   
  Total revenues        177,546    349,958      291,897     646,374
                                                                   
Expenses                                                           
  Operating expenses     42,433      78,125       49,729      120,782
  Repairs &                                                        
maintenance              22,083     41,111       27,590      71,084
  Property taxes         14,113     28,298       16,144      39,561
  Interest               86,353    167,717      124,328     312,251
  General and                                                      
administrative           18,971     49,707       19,984      55,348
  Depreciation and                                                 
amortization             59,646    115,243       74,178     180,747
                                                                   
  Total expenses        243,599    480,201      311,953     779,773
                                                                   
  Loss before                                                      
minority interest      (66,053)  (130,243)     (20,056)   (133,399)
                                                                   
  Minority interest                                                
in  net loss of joint
venture                 - - - -    - - - -        3,930      22,806
  Gain from                                                        
disposition of joint                                               
venture                 - - - -    - - - -    1,127,913   1,127,913
                                                                   
Net (loss) income      (66,053)  (130,243)    1,111,787   1,017,320
                                                                   
Allocated to general                                               
partners                  (660)    (1,302)       11,118      10,173
                                                                   
Allocated to limited                                               
partners              ($65,393)  ($128,941)   $1,100,669  $1,007,147
                                                                   
Net (loss) income per                                              
limited partnership                                                
unit                    ($4.74)    ($9.35)       $79.83      $73.05
                                                                   
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>                                                       
                       1998                     1997            
                       Three       Six         Three          Six
                      Months      Months       Months        Months
                       Ended      Ended        Ended         Ended
<S>                     <C>        <C>          <C>           <C>
Cash flows from                                                       
operating
activities:
  Net (loss) income   ($66,053)  ($130,243)   $1,111,787   $1,017,320
  Adjustments to                                                     
reconcile net
(loss) income to
cash flows used in                                                   
operating                                                            
activities:
  Depreciation and                                                   
amortization             59,646    115,243       74,178      180,747
  Minority interest                                                  
in joint venture        - - - -    - - - -      (3,930)     (22,806)
  Gain from                                                          
Partnership                                                         
Interest                - - - -    - - - -  (1,127,913)  (1,127,913)
  Unpaid interest                                         
on loan payable
    to affiliate        - - - -     - - - -       24,014       55,347
  Changes in assets                                                  
and liabilities:
Decrease/(Increase)                                                  
in accounts                                                         
receivable               13,679      7,907     (34,986)     (20,605)
    Increase in                                                      
leasing commissions     - - - -    - - - -      - - - -     (15,771)
    Decrease in                                                      
other assets              1,611      1,662        8,838        1,899
    Decrease in                                                      
accounts payable
and accrued                                                          
liabilities            (51,514)   (22,552)    (109,037)     (92,523)
    (Decrease)/                                                      
Increase in tenant
deposits                (7,634)    (10,698)          186      (7,266)
                                                                     
                                                                     
Net cash used in
operating                                                            
activities             (50,265)   (38,681)     (56,863)     (31,571)
                                                                     
Cash flows from                                                      
investing
activities:
  Improvements to                                                    
investment                                                          
properties              - - - -    (1,587)     (15,356)     (15,464)
  Proceeds from                                                      
sale of Partnership     - - - -    - - - -       14,380       14,380
                                                                     
Net cash used in                                                     
investing                                                            
activities              - - - -    (1,587)        (976)      (1,084)
                                                                     
Cash flows from                                                      
financing
activities:
  Payments on notes                                                  
payable               (189,500)  (198,784)     (12,612)     (36,020)
  Proceeds from                                                      
notes payable           290,000    290,000      141,583      141,583
  Payment of loan                                                    
fees                   (13,099)   (13,099)     (83,275)     (83,275)
                                                             
                                                                     
Net cash provided
by financing                                                         
activities               87,401     78,117       45,696       22,288
                                                                     
Net Increase/                                                        
(Decrease) in cash       37,136     37,849     (12,143)     (10,367)
                                                                     
Cash, beginning of                                                   
period                    3,023      2,310       51,111       49,335
                                                                     
Cash, end of period     $40,159     $40,159      $38,968      $38,968
                                                                     
See accompanying notes to the financial statements.                     
                                                                     

</TABLE>


                                  
               Capital Builders Development Properties
                 (A California Limited Partnership)
                                  
                                  
                    NOTES TO FINANCIAL STATEMENTS
                 June 30, 1998 and December 31, 1997


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.   Certain  prior year amounts have  been  reclassified  to
conform to current year classifications.

Principles of Presentation
In  May  1997  the  Partnership sold its  60%  interest  in  Capital
Builders  Roseville  Venture  to  its  affiliate,  Capital  Builders
Development Properties II.  Capital Builders Development  Properties
II,  a  California  Limited Partnership,  is  an  affiliate  of  the
Partnership as they have the same General Partner, Capital Builders,
Inc.   The  financial statements represent financial activity  on  a
consolidated basis until the time of the disposition of the majority-
owned   subsidiary.   All  significant  intercompany  accounts   and
transactions have been eliminated.  The General Partner  of  Capital
Builders  Development  Properties, Capital Builders,  Inc.,  has  no
direct  ownership interest in the joint venture, and did not receive
any compensation for the sale of the subsidiary.

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.

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.  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.

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) Income per Limited Partnership Unit

The net (loss) income per Limited Partnership unit is computed based
on the weighted average number of units outstanding during the three
and six months ended June 30 of 13,787 in 1998 and 1997.

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

As  of the six months ended June 30, 1998, Management was successful
in its plan to refinance its $180,000 land/construction loan with  a
12  month,  $290,000, 12.5% interest only land loan.  The additional
proceeds generated from this loan were primarily used to reduce  the
property's accounts payable balance and increase its cash reserves.

The  refinancing will help stabilize the Partnership and improve its
ability  to  generate future cash flow, but future cash  flow  still
remains  dependent upon the Partnership's ability  to  maintain  and
improve the occupancy of its investment properties.

Additionally, to help improve the Partnership's future cash flow, it
will  be necessary for Management to obtain additional financing  to
complete  Plaza  de Oro's development of Phase II.   This  financing
will  require either a joint venture partner, or a construction loan
after pre-leasing a portion of the pad building, or a combination of
both.

Management   is  currently  having  preliminary  negotiations   with
prospective  tenants.   It is Management's objective  to  have  pre-
leasing  of  approximately  4,000 to  9,800  square  feet  in  place
sometime during the fourth quarter of 1998 so it can begin Phase  II
construction.

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
$7,960 and $31,058 for the six months ended June 30, 1998 and  1997,
respectively, while total reimbursement of expenses was $41,765  and
$57,756, respectively.

NOTE 4 - INVESTMENT PROPERTIES

The components of the investment property account are as follows:

                                June 30, 1998   December 31, 1997

Land                               $1,353,177          $1,353,177
Building and Improvements           3,289,420           3,287,832
Tenant Improvements                   489,455             533,912
Investment properties, at cost      5,132,052           5,174,921

Less: accumulated depreciation
        and amortization         (1,273,902)          (1,227,226)

     Investment property, net      $3,858,150          $3,947,695

NOTE 5 - NOTES PAYABLE

Notes Payable consist of the following at:
                                              June 30,   December 31,
                                                1998         1997
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.    $3,304,614   $3,323,398

Land  loan of $180,000 due March 31, 1998
was  refinanced  with  a  land  loan   of
$290,000  due  May  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 and is guaranteed  by  the
General Partner.                                290,000      180,000

Total Notes Payable                          $3,594,614   $3,503,398


NOTE 6 - 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:

                    1998                       $571,780
                    1999                        496,918
                    2000                        471,539
                    2001                        259,794
                    2002                        104,178
                    Total                    $1,904,209


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.

     Cash and cash equivalents
     The  carrying  amount approximates fair value  because  of  the
     liquid nature of the instrument.

     Notes payable
     The  fair value of the Partnership's notes payable is 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, 1998          December 31, 1997
                             Carrying    Estimated   Carrying   Estimated
                               Amount   Fair Value     Amount  Fair Value

Assets
Cash and cash equivalents     $40,159      $40,159     $2,310      $2,310

Liabilities
Note payable               $3,304,614  $3,304,614  $3,323,398  $3,323,398
Note payable                 $290,000     $290,000   $180,000    $180,000


NOTE 8 - 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 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 is  effective  for
all  fiscal quarters of fiscal years beginning after June  15,  1999.
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.

Accounting  for the Costs of Computer Software Developed or  Obtained
for Internal Use

In  March  1998, the American Society of Certified Public Accountants
(AICPA)  issued Statement of Position (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.  It specifies  that
computer  software meeting certain characteristics be  designated  as
internal-use   software  and  sets  forth  criteria   for   expensing
capitalizing, and amortizing certain costs related to the development
or  acquisition of internal-use software.  SOP 98-1 is effective  for
fiscal years beginning after December 15, 1998.  Management does  not
expect  that adoption of SOP 98-1 will have a material impact on  the
Partnership's financial statements.

Reporting on the Costs of Start-Up Activities

In  April 1998, the AICPA issued 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.   It  requires
costs of start-up activities and organization costs to be expensed as
incurred.   SOP  98-5 is effective for fiscal years  beginning  after
December 15, 1998.  Management does not expect that adoption  of  SOP
98-5  will  have  a  material impact on the  Partnership's  financial
statements.



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

Year 2000

Management has evaluated all technologies and has determined that the
Partnership's systems appear to be ready.  Management has established
back-up  systems  in order to minimize any risks that  would  have  a
material financial impact on the Partnership.

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, 1998, no significant financial
transactions occurred affecting the Partnership.  Since December 31,
1997,  Plaza  de  Oro did not recognize any additional  lease-up  of
vacant  space,  and  no  additional leasing  commissions  or  tenant
improvement   costs  were  incurred.  Management   does   anticipate
additional  lease-up to occur during 1998 which will help  stabilize
Plaza de Oro's occupancy.  This additional lease-up is estimated  to
cost  approximately  $67,400  in  tenant  improvements  and  leasing
commissions,  and is anticipated to be funded by cash  reserves  and
future rental income.

During  the  second  quarter ended June  30,  1998,  Management  was
successful  in refinancing Plaza de Oro's land loan by  obtaining  a
$290,000,  12  month,  12.5%  interest  only  loan,  which  provided
approximately  $90,000 in cash reserves to help  meet  current  year
obligations.  The Partnership still needs to improve Plaza de  Oro's
current  occupancy  of  76% in order to further  meet  current  year
obligations.

Management  continues  to actively market Plaza  de  Oro's  existing
current  vacant  space  of  15,657  square  feet,  as  well  as  the
undeveloped  9,800  square  foot Phase  II  building.   There  is  a
potential risk that an additional 12,052 square feet of office space
may  become  vacant  within the next month due  to  a  major  tenant
terminating  its  business in the Sacramento  area.   Loss  of  this
tenant  would decrease occupancy to 61%.  This tenant's  lease  does
not  expire until January 31, 2001, but as of June 30, 1998 they are
one  month  past due in rent, and have filed Chapter 11  Bankruptcy.
Included in Note 6 are annual rents of $180,000 for this tenant.

Results of Operations

The  Partnership's total revenues decreased by $114,351  (39.2%)  for
the  second  quarter ended June 30, 1998 as compared  to  the  second
quarter ended June 30, 1997, while expenses also decreased by $68,354
(21.9%)  for  the same respective period.  In addition, the  minority
interest  in  net loss decreased by $22,806 (100%),  and  a  gain  of
$1,127,913  was recognized during the second quarter ended  June  30,
1997  for  the sale of its 60% interest in Capital Builders Roseville
Venture, all resulting in a decrease in net income of $1,177,840.

The  decrease  in  revenues  is due primarily  to  the  sale  of  the
Partnership's  joint  venture interest on  May  1,  1997.   The  sale
decreased reported revenue by $72,564, as the Partnership still owned
its  share  of  the  joint venture for one month  during  the  second
quarter  of 1997.  The remaining decrease in revenues of $41,787  was
due to a decrease in occupancy at Plaza de Oro.

The  decrease in expenses for the second quarter 1998 as compared  to
1997  is  also  primarily due to the sale of its share in  the  joint
venture.

The  Partnership's total revenues decreased by $296,416  (45.9%)  for
the  six  months  ended June 30, 1998 as compared to June  30,  1997,
while  expenses  also  decreased by $299,572  (38.4%)  for  the  same
respective  period.  In addition, the minority interest in  net  loss
decreased by $22,806 (100%) in 1998 compared to 1997, and a  gain  of
$1,127,913 was recognized during the quarter ended June 30, 1997  for
the  sale  of  its  60%  interest in the Capital  Builders  Roseville
Venture,  all  resulting in a decrease in net  income  of  $1,147,563
(112.8%) for the six months ended June 30, 1998 as compared  to  June
30, 1997.

The  decrease  in  revenues  is due primarily  to  the  sale  of  the
Partnership's  joint  venture interest on  May  1,  1997.   The  sale
decreased  reported  revenues by $242,630 since  the  Partnership  no
longer  owns 60% of the Roseville Joint Venture (Capital Professional
Center),  as it did during the six months ended June 30,  1997.   The
Partnership's  remaining  property,  Plaza  de  Oro,  experienced   a
decrease in revenue of $53,786 due to a decrease in occupancy to  76%
from 95% as of June 30, 1998 and 1997, respectfully.  The decrease in
occupancy  is  primarily the result of two large industrial  tenants,
totaling  10,530  square  feet, declaring bankruptcy  and  abandoning
their  suites.   Management  is currently working  on  an  aggressive
marketing  program and anticipates the lease-up of the project  prior
to year-end.

Total  expenses decreased by $299,572 for the six months  ended  June
30, 1998, as compared to June 30, 1997, primarily due to the sale  of
its  60%  interest in Capital Builders Roseville Venture  on  May  1,
1997.   As  of  June  30, 1998, the Statement of Operations  did  not
include  any  joint  venture expenses, where as  of  June  30,  1997,
expenses of $299,645 were included.

                     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 12, 1998             By:
                                   Michael J. Metzger
                                   President


Date:  August 12, 1998             By:
                                   Kenneth L. Buckler
                                   Chief Financial Officer