FORM 10-QSB--QUARTERLY OR TRANSITIONAL REPORT UNDER SECTION 13 OR 15(D) OF
                      THE SECURITIES EXCHANGE ACT OF 1934
                        QUARTERLY OR TRANSITIONAL REPORT


                    U.S. SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549


                                  FORM 10-QSB

(Mark One)
[X]  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
     ACT OF 1934


                 For the quarterly period ended March 31, 1998


[ ]  TRANSITION REPORT PURSUANT TO 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF
     1934

               For the transition period from.........to.........

                         Commission file number 0-16209


                              ANGELES PARTNERS 16
       (Exact name of small business issuer as specified in its charter)


         California                                              95-4106417
(State or other jurisdiction of                                (IRS Employer
 incorporation or organization)                              Identification No.)

                          One Insignia Financial Plaza
                        Greenville, South Carolina 29602
                    (Address of principal executive offices)


                                 (864) 239-1000
                          (Issuer's telephone number)



Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports), and (2) has been
subject to such filing requirements for the past 90 days.  Yes  X  No


                         PART I - FINANCIAL INFORMATION


ITEM 1.  FINANCIAL STATEMENTS


a)
                              ANGELES PARTNERS 16
                  STATEMENT OF NET LIABILITIES IN LIQUIDATION
                                  (Unaudited)
                                 (in thousands)

                                 March 31, 1998



Assets
  Cash and cash equivalents                             $    165
  Receivables and deposits                                   242
  Restricted escrows                                         881
  Investment properties                                    5,087
                                                           6,375

Liabilities
  Accounts payable                                            11
  Tenant security deposit liabilities                         34
  Accrued taxes                                              159
  Accrued interest                                         1,964
  Other liabilities                                          766
  Notes payable, in default                                8,627
  Estimated costs during the period of liquidation           281
                                                          11,842

Net liabilities in liquidation                          $ (5,467)


                 See Accompanying Notes to Financial Statements


                              ANGELES PARTNERS 16
             STATEMENT OF CHANGES IN NET LIABILITIES IN LIQUIDATION
                                 (in thousands)

                       Three Months Ended March 31, 1998



Net liabilities in liquidation at December 31, 1997               $(4,334)

Changes in net liabilities in liquidation attributed to:

  Decrease in cash and cash equivalents                              (314)
  Decrease in receivables and deposits                                (81)
  Decrease in restricted escrows                                     (383)
  Decrease in investment properties                                (5,400)
  Decrease in accounts payable                                         20
  Decrease in tenant security deposit liabilities                      35
  Increase in accrued interest                                       (181)
  Decrease in accrued taxes                                           224
  Decrease in other liabilities                                        49
  Decrease in mortgage notes payable                                4,918
  Increase in estimated costs during the period of liquidation        (20)

Net liabilities in liquidation at March 31, 1998                  $(5,467)


                  See Accompanying Notes To Financial Statements
b)
                              ANGELES PARTNERS 16
                            STATEMENT OF OPERATIONS
                                  (Unaudited)
                        (in thousands, except unit data)

                       Three Months Ended March 31, 1997


Revenues:
 Rental income                                                 $   609
 Other income                                                       53
     Total revenues                                                662
Expenses:
 Operating                                                         277
 General and administrative                                         25
 Depreciation                                                       75
 Interest                                                          287
 Property taxes                                                    107
     Total expenses                                                771

     Net loss                                                  $  (109)

Net loss allocated to general partner (1%)                     $    (1)
Net loss allocated to limited partners (99%)                      (108)

     Net loss                                                  $  (109)

Net loss per limited partnership unit:                         $ (7.72)

                 See Accompanying Notes to Financial Statements


d)
                              ANGELES PARTNERS 16
                            STATEMENT OF CASH FLOWS
                                  (Unaudited)
                                 (in thousands)

                       Three Months Ended March 31, 1997


Cash flows from operating activities:
  Net loss                                                         $   (109)
  Adjustments to reconcile net loss to net cash
    provided by operating activities:
    Depreciation                                                         75
    Amortization of loan costs                                            2
  Change in accounts:
    Restricted cash                                                      (2)
    Accounts receivable                                                   1
    Escrows for taxes                                                    53
    Other assets                                                         (2)
    Accounts payable                                                    (15)
    Tenant security deposit liabilities                                   4
    Accrued taxes                                                       (43)
    Accrued interest                                                    157
    Other liabilities                                                   (52)

      Net cash provided by operating activities                          69

Cash flows from investing activities:
  Property improvements and replacements                                (18)
  Net receipts from restricted escrows                                   21

      Net cash provided by investing activities                           3

Cash flows used in financing activities:
  Payments on notes payable                                             (18)

Net increase in cash and cash equivalents                                54

Cash and cash equivalents at beginning of period                        529

Cash and cash equivalents at end of period                        $     583

Supplemental disclosure of cash flow information:
  Cash paid for interest                                          $     127


                 See Accompanying Notes to Financial Statements

e)
                              ANGELES PARTNERS 16
                         NOTES TO FINANCIAL STATEMENTS
                                  (Unaudited)
                                 March 31, 1997

NOTE A - BASIS OF PRESENTATION

As of December 31, 1997, Angeles Partners 16 (the "Partnership" or "Registrant")
adopted the liquidation basis of accounting due to the imminent loss of its
investment properties.  The Partnership has experienced significant recurring
operating losses, is in default on all of its indebtedness and continues to
suffer from inadequate liquidity.  No other sources of additional financing are
available to the Partnership and Angeles Realty Corporation II  ("ARC II" or the
"General Partner") does not have any other plans to remedy the liquidity
problems the Partnership is currently experiencing.

At March 31, 1998, the Partnership was in default on $2,876,000 of unsecured
indebtedness payable to Angeles Mortgage Investment Trust ("AMIT"), plus related
accrued interest of approximately $1,147,000, due to its inability to make
interest and principal payments when due. In addition, during January 1998, AMIT
purchased the second trust deed, in the amount of $375,000, which is secured by
Silver Ridge Apartments and matured in December 1997. The lender obtained a
judgment against the Partnership that secured their position on $2,017,000 of
this indebtedness ("North Prior debt").  On June 19, 1997, a Notice of Sheriff's
Execution Sale of Personal and Real Property was filed for the sale of Silver
Ridge Apartments.  On October 29, 1997, Silver Ridge Apartments was sold at a
sheriff's sale to AMIT.  Under the laws of the State of Minnesota, this
foreclosure was subject to a one year right of redemption.  On January 30, 1998,
the Partnership granted to AMIT a Deed in Lieu of Foreclosure on Silver Ridge
Apartments thereby waiving its right of redemption.

The first mortgage, in the amount of $4,234,000, which is secured by Whispering
Pines Apartments, is in default due to nonpayment upon its maturity in January
1997. ARC II is currently marketing this investment property for sale.  Monthly
payments of principal and interest are still being made and the lender has not
initiated foreclosure proceedings.  AMIT intends to purchase this first trust
deed if the General Partner is unsuccessful in obtaining a purchase agreement.
At that time AMIT intends to initiate foreclosure proceedings.  The General
Partner expects to lose this last investment property in May 1998, and it
anticipates that the Partnership will terminate in June 1998.

As a result of the decision to liquidate the Partnership, the Partnership
changed its basis of accounting for its financial statements at December 31,
1997, from the going concern basis of accounting to the liquidation basis of
accounting.  Consequently, assets have been valued at estimated net realizable
value (including subsequent actual transactions described below) and liabilities
are presented at their estimated settlement amounts, including estimated costs
associated with carrying out the liquidation.  The valuation of assets and
liabilities necessarily requires many estimates and assumptions and there are
substantial uncertainties in carrying out the liquidation.  The actual
realization of assets and settlement of liabilities could be higher or lower
than amounts indicated and is based upon the General Partner's estimates as of
the date of the financial statements.

The statement of net liabilities in liquidation as of March 31, 1998, includes
approximately $281,000 of costs, net of income, that the General Partner
estimates will be incurred during the period of liquidation, based on the
assumption that the liquidation process will be completed by June 30, 1998.
These costs principally include interest and administrative expenses.  Because
the success in realization of assets and the settlement of liabilities is based
on the General Partner's best estimates, the liquidation period may be shorter
than projected or it may be extended beyond the projected period.

NOTE B - TRANSACTIONS WITH AFFILIATED PARTIES

The Partnership has no employees and is dependent on the General Partner and its
affiliates for the management and administration of all partnership activities.
The General Partner is a wholly-owned subsidiary of Insignia Properties Trust
("IPT"), an affiliate of Insignia Financial Group, Inc. ("Insignia").  The
Partnership Agreement provides for payments to affiliates for services and as a
reimbursement of certain expenses incurred by affiliates on behalf of the
Partnership. The following amounts were paid to the General Partner and
affiliates during the three months ended March 31, 1998 and 1997:


                                                    1998       1997
                                                    (in thousands)

Property management fees                             $20        $32

Reimbursement for services of affiliates              17         15


For the period from January 1, 1997, to August 31, 1997, the Partnership insured
its properties under a master policy through an agency affiliated with the
General Partner with an insurer unaffiliated with the General Partner.  An
affiliate of the General Partner acquired, in the acquisition of a business,
certain financial obligations from an insurance agency which were later acquired
by the agent who placed the master policy.  The agent assumed the financial
obligations to the affiliate of the General Partner, which receives payment on
these obligations from the agent. The amount of the Partnership's insurance
premiums that accrued to the benefit of the affiliate of the General Partner by
virtue of the agent's obligations was not significant.

In November 1992, Angeles Acceptance Pool ("AAP"), a Delaware limited
partnership, was organized to acquire and hold the obligations evidencing the
working capital loan previously provided to the Partnership by Angeles Capital
Investments, Inc. ("ACII"). Angeles Corporation ("Angeles") is the 99% limited
partner of AAP and Angeles Acceptance Directives, Inc. ("AAD"), which is wholly-
owned by IPT, was, until April 14, 1995, the 1% general partner of AAP.  On
April 14, 1995, as part of a settlement of claims between affiliates of the
General Partner and Angeles, AAD resigned as general partner of AAP and
simultaneously received a 1/2% limited partner interest in AAP.  An affiliate of
Angeles now serves as the general partner of AAP.

The AAP working capital loan funded the Partnership's operating deficits in
prior years. Total indebtedness, including accrued interest of approximately
$790,000, was approximately $2,307,000 at March 31, 1998, all of which is in
default due to nonpayment at maturity in November 1997.  Total interest expense
for this loan was approximately $40,000 and $39,000 for the quarters ended March
31, 1998 and 1997, respectively.

At March 31, 1998, AMIT holds two unsecured notes receivable from the
Partnership. Total indebtedness from the two unsecured notes, including accrued
interest of approximately $1,147,000, is approximately $4,023,000 all of which
is in default at March 31, 1998, due to maturity.  Total interest expense paid
or accrued to AMIT was $160,000 and $118,000 for the quarters ended March 31,
1998 and 1997, respectively. As discussed in "Note A", in January 1998, the
Partnership granted AMIT a Deed in Lieu of Foreclosure on Silver Ridge
Apartments.  This transfer of the investment property to AMIT effectively
reduced the amounts owed to AMIT by approximately $992,000.  AMIT assumed the
first mortgage of approximately $4,525,000 secured by the property.

In November 1992, MAE GP acquired 1,675,113 Class B Common Shares of AMIT. The
terms of the Class B shares provide that they are convertible, in whole or in
part, into Class A Common Shares of AMIT on the basis of one Class A share for
every 49 Class B shares (however, in connection with the settlement agreement
described in the following paragraph, MAE GP agreed not to convert the Class B
shares so long as AMIT's option is outstanding).  These Class B Shares entitle
the holder to receive 1% of the distributions of net cash distributed by AMIT
(however, in connection with the settlement agreement described in the following
paragraph, MAE GP agreed to waive its right to receive dividends and
distributions so long as AMIT's option is outstanding). The holder of the Class
B shares is also entitled to vote on the same basis as the holders of Class A
shares, providing the holder with approximately 39% of the total voting power of
AMIT (unless and until converted to Class A shares, in which case the percentage
of the vote controlled represented by such shares would approximate 1.3% of the
total voting power of AMIT).

As part of a settlement of certain disputes with AMIT, MAE GP granted to AMIT an
option to acquire the Class B shares owned by it.  This option can be exercised
at the end of 10 years or when all loans made by AMIT to partnerships which were
affiliated with MAE GP as of November 9, 1994 (which is the date of execution of
a definitive settlement agreement), have been paid in full.  In connection with
such settlement, AMIT delivered to MAE GP cash in the sum of $250,000 at closing
(which occurred April 14, 1995), as payment for the option. If and when the
option is exercised, AMIT will be required to remit to MAE GP an additional
$94,000.

Simultaneously with the grant of the option and as part of the settlement, MAE
GP also executed an irrevocable proxy in favor of AMIT, which provides that the
holder of the Class B shares is permitted to vote those shares on all matters
except those involving transactions between AMIT and MAE GP affiliated borrowers
or the election of any MAE GP affiliate as an officer or trustee of AMIT.  With
respect to such matters, the trustees of AMIT are required to vote (pursuant to
the irrevocable proxy) the Class B shares (as a single block) in the same manner
as a majority of the Class A shares are voted (to be determined without
consideration of the votes of "Excess Class A Shares" (as defined in Section
6.13 of AMIT's Declaration of Trust)).

Between its acquisition of the Class B shares (in November 1992) and March 31,
1995, MAE GP declined to vote these shares.  Since that date, MAE GP voted its
shares at the 1995 and 1996 annual meetings in connection with the election of
trustees and other matters. In February 1998, MAE GP was merged into IPT, an
affiliate of Insignia, and in connection with that merger, MAE GP dividended all
of the Class B shares to its sole stockholder, Metropolitan Asset enhancement,
L.P. ("MAE").  As a result, MAE, as the holder of the Class B shares, is now
subject to the terms of the settlement agreement, option and irrevocable proxy
described in the two preceding paragraphs.  Neither MAE GP nor MAE has exerted
or intends to exert any management control over or participate in the management
of AMIT.  However, subject to the terms of the proxy described below, MAE may
choose to vote the Class B shares as it deems appropriate in the future.

Liquidity Assistance L.L.C., which is an affiliate of the General Partner, MAE
and Insignia (which provides property management and partnership administration
services to the Partnership), owned 96,800 Class A shares of AMIT at December
31, 1997. These Class A shares represent approximately 2.2% of the total voting
power of AMIT.

On April 3, 1997, Insignia and AMIT entered into a non-binding agreement in
principle contemplating, among other things, a business combination of AMIT and
IPT, an entity then owned 98% by Insignia and its affiliates.  On July 18, 1997,
IPT, Insignia and MAE GP entered into a definitive merger agreement pursuant to
which (subject to shareholder approval and certain other conditions, including
the receipt by AMIT of a fairness opinion from its investment bankers) AMIT
would be merged with and into IPT, with each Class A share and Class B share
being converted into 1.625 and 0.0332 common shares of IPT, respectively.  The
foregoing exchange ratios are subject to adjustment to account for dividends
paid by AMIT from January 1, 1997 and dividends paid by IPT from February 1,
1997.  It is anticipated that Insignia and its affiliates (including MAE) would
own approximately 57% of post-merger IPT when this transaction is consummated.

On March 17, 1998, Insignia entered into an agreement to merge its national
residential property management operations, and its controlling interest in IPT,
with Apartment Investment and Management Company ("AIMCO"), a publicly traded
real estate investment trust.  The closing, which is anticipated to happen in
the third quarter of 1998, is subject to customary conditions, including
government approvals and the approval of Insignia's shareholders.  If the
closing occurs, AIMCO will then control the General Partner of the Partnership.
It is anticipated, however, that the Partnership will be liquidated prior to the
consummation of the AIMCO transaction.  In any event, it is not anticipated that
this transaction will have a material effect on the Partnership.

NOTE C - ENVIRONMENTAL ESCROW

In 1995, the Partnership sold the North Prior Industrial Park to an unrelated
party. As required by the sales agreement, the Partnership established three
escrows, one of which has not been expended at March 31, 1998.

This escrow was established for costs associated with fuel oil contamination at
the property.  In January 1993, a local fuel oil distributor pumped fuel oil
into a testing well instead of into the storage tank at North Prior Industrial
Park. The Partnership notified the necessary authorities and engaged an
environmental engineering firm to develop a plan of action to clean up the site.
The cost of the clean up, which was not covered by insurance, was estimated to
be approximately $900,000 over a five year period. A liability has been recorded
to cover the estimated costs to clean-up the site and is included in other
Liabilities, and the funds have been set aside in an escrow account.  At March
31, 1998, the balance remaining in this account was approximately $878,000.  The
Partnership entered into an agreement with the buyer of the property limiting
the Partnership's liability with regard to the clean up of this site to the
balance of the escrow account. In January 1998, the Partnership received a "Site
Closure Letter" from the Minnesota Pollution and Control Agency which states
that environmental risks have been reduced to minimal levels and that monitoring
and remedial efforts may be discontinued for the present. The General Partner
has not decreased the accrual for this liability as it believes the obligation
has not been satisfied.  The Partnership expects to receive any remaining funds
in the escrow account in 1998.  They will be used to pay down the AMIT debt
discussed above (see "Note B").

NOTE D - FORECLOSURE OF INVESTMENT PROPERTY

On June 19, 1997, a Notice of Sheriff's Execution Sale of Personal and Real
Property was filed for the sale of Silver Ridge Apartments.  On October 29,
1997, Silver Ridge Apartments was sold at a sheriff's sale to AMIT.  Under the
laws of the State of Minnesota, this foreclosure was subject to a one year right
of redemption.  On January 30, 1998, the Partnership granted to AMIT a Deed in
Lieu of Foreclosure on Silver Ridge Apartments thereby waiving its right of
redemption.


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

As of December 31, 1997, the Partnership adopted the liquidation basis of
accounting due to the imminent loss of its investment properties.  The
Partnership has experienced significant recurring operating losses, is in
default on all of its indebtedness and continues to suffer from inadequate
liquidity.  No other sources of additional financing are available to the
Partnership and the General Partner does not have any other plans to remedy the
liquidity problems the Partnership is currently experiencing.

At March 31, 1998, the Partnership was in default on $2,876,000 of unsecured
indebtedness payable to Angeles Mortgage Investment Trust ("AMIT"), plus related
accrued interest of approximately $1,147,000, due to its inability to make
interest and principal payments when due. In addition, during January 1998, AMIT
purchased the second trust deed, in the amount of $375,000, which is secured by
Silver Ridge Apartments and matured in December 1997. The lender obtained a
judgment against the Partnership that secured their position on $2,017,000 of
this indebtedness ("North Prior debt").  On June 19, 1997, a Notice of Sheriff's
Execution Sale of Personal and Real Property was filed for the sale of Silver
Ridge Apartments.  On October 29, 1997, Silver Ridge Apartments was sold at a
sheriff's sale to AMIT.  Under the laws of the State of Minnesota, this
foreclosure was subject to a one year right of redemption. In January 1998, the
Partnership granted to AMIT a Deed in Lieu of Foreclosure on Silver Ridge
Apartments thereby waiving its right of redemption.

The first mortgage, in the amount of $4,234,000, which is secured by Whispering
Pines Apartments, is in default due to nonpayment upon its maturity in January
1997. ARC II is currently marketing this investment property for sale.  Monthly
payments of principal and interest are still being made and the lender has not
initiated foreclosure proceedings.  AMIT has indicated its intent to purchase
this first trust deed if the General Partner is unsuccessful in obtaining a
purchase agreement.  In that event, the Partnership anticipates that AMIT will
initiate foreclosure proceedings. The General Partner expects to lose this last
investment property in May 1998, and it anticipates that the Partnership will
terminate in June 1998.

As a result of the decision to liquidate the Partnership, the Partnership
changed its basis of accounting for its financial statements at December 31,
1997, from the going concern basis of accounting to the liquidation basis of
accounting.  Consequently, assets have been valued at estimated net realizable
value (including subsequent actual transactions described below) and liabilities
are presented at their estimated settlement amounts, including estimated costs
associated with carrying out the liquidation.  The valuation of assets and
liabilities necessarily requires many estimates and assumptions and there are
substantial uncertainties in carrying out the liquidation.  The actual
realization of assets and settlement of liabilities could be higher or lower
than amounts indicated and is based upon the General Partner's estimates as of
the date of the financial statements.

For the three months ended March 31, 1998, the Partnership recorded a net
increase in net liabilities in liquidation of approximately $1,133,000.  The
statement of net liabilities in liquidation as of March 31, 1998, includes
approximately $281,000 of costs, net of income, that the General Partner
estimates will be incurred during the period of liquidation based upon the
assumption that the liquidation process will be complete by June 30, 1998.
These costs include anticipated legal fees and administrative expenses.  Because
the success in realization of assets and the settlement of liabilities is based
on the General Partner's best estimates, the liquidating period may be shorter
than projected or it may be extended beyond the projected period.

Other

Certain items discussed in this quarterly report may constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of
1995 (the "Reform Act") and as such may involve known and unknown risks,
uncertainties and other factors which may cause the actual results, performance
or achievements to be materially different from any future results, performance
or achievements of the Partnership expressed or implied by such forward-looking
statements.  Such forward-looking statements speak only as of the date of this
quarterly report.  The Partnership expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Partnership's
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.


                          PART II - OTHER INFORMATION

ITEM 1.  LEGAL PROCEEDING


In March 1998, several putative unit holders of limited partnership units of the
Partnership commenced an action entitled ROSALIE NUANES, ET AL. V. INSIGNIA
FINANCIAL GROUP, INC., ET AL. in the Superior Court of the State of California
for the County of San Mateo.  The plaintiffs named as defendants, among others,
the Partnership, the General Partner and several of their affiliated
partnerships and corporate entities. The complaint purports to assert claims on
behalf of a class of limited partners and derivatively on behalf of a number of
limited partnerships (including the Partnership) which are named as nominal
defendants, challenging the acquisition by Insignia Financial Group, Inc.
("Insignia") and its affiliates of interests in certain general partner
entities, past tender offers by Insignia affiliates to acquire limited
partnership units, the management of partnerships by Insignia affiliates as well
as a recently announced agreement between Insignia and Apartment Investment and
Management Company.  The complaint seeks monetary damages and equitable relief,
including judicial dissolution of the Partnership.  The General Partner was only
recently served with the complaint which it believes to be without merit, and
intends to vigorously defend the action.

The Partnership is unaware of any other pending or outstanding litigation that
is not of a routine nature.  The General Partner of the Partnership believes
that all such pending or outstanding litigation will be resolved without a
material adverse effect upon the business, financial condition, or operations of
the Partnership.


ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

  a)    Exhibits:

        Exhibit 27, Financial Data Schedule, is filed as an exhibit to this
        report.

  b)    Reports on Form 8-K:

        A Form 8-K was filed on January 30, 1998, reporting Deed in Lieu of
        Foreclosure between the Partnership and Angeles Mortgage Investment
        Trust.


                                   SIGNATURES


     In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


                                   ANGELES PARTNERS 16

                                   By:    Angeles Realty Corporation II
                                          General Partner


                                   By:    /s/Carroll D. Vinson
                                          Carroll D. Vinson
                                          President/Director


                                   By:    /s/Robert D. Long
                                          Robert D. Long
                                          Vice President/CAO


                                   Date:  May 14, 1998