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 March 31, 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>                                                              
                                           March 31        December 31
                                             1998             1997
<S>                                          <C>               <C>
ASSETS                                                                 
  Cash and cash equivalents               $      3,023     $      2,310
  Accounts receivable, net                     125,924          120,152
  Investment property, at cost,                                        
    net of accumulated depreciation                                    
    and amortization of $1,227,709                                     
    and $1,227,226 at March 31,                                        
   1998 and December 31, 1997,                                         
    respectively                             3,904,343        3,947,695
                                                                       
  Lease commissions, net of accumulated                                
    amortization of $59,156 and 58,098                                 
    at March 31, 1998, and December 31,                                
    1997, respectively                          73,910           80,188
                                                                       
  Other assets, net of accumulated                                     
    amortization of $21,760 and                                        
    $17,382 at March 31, 1998, and                                     
    December 31, 1997, respectively             64,553           68,984
                                                                       
           Total assets                     $4,171,753       $4,219,329
                                                                       
LIABILITIES AND PARTNERS' EQUITY                                       
  Notes payable                           $  3,494,114     $  3,503,398
  Accounts payable and accrued                                         
    liabilities                                117,219           88,257
  Tenant deposits                               48,925           51,989
                                                                       
           Total liabilities                $3,660,258       $3,643,644
                                                                       
  Commitments and contingencies                                        
  Partners' Equity:                                                    
    General partner                           (52,709)         (52,067)
    Limited partners                           564,204          627,752
                                                                       
           Total partners' equity           $  511,495       $  575,685
                                                                       
           Total liabilities and                                       
               partner's equity             $4,171,753       $4,219,329
                                                                       
                                                                       
See accompanying notes to the financial                                     
                            statements.
</TABLE>


<TABLE>
  Capital  Builders  Development
            Properties
      (A  California  Limited
           Partnership)
                                                                
    STATEMENTS  OF  OPERATIONS
 THREE  MONTHS  ENDED  MARCH  31,
                                                          
<CAPTION>                                                 
                                        1998            1997
<S>                                      <C>             <C>
Revenues                                                        
  Rental and other income               $ 172,363      $ 354,191
  Interest income                              49            286
                                                                
          Total revenues                  172,412        354,477
                                                                
Expenses                                                        
  Operating expenses                       35,692         71,053
  Repairs and maintenance                  19,028         43,494
  Property taxes                           14,185         23,417
  Interest                                 81,364        187,923
  General and administrative               30,736         35,364
  Depreciation and amortization            55,597        106,569
                                                                
          Total expenses                  236,602        467,820
                                                                
  Loss before minority interest          (64,190)      (113,343)
                                                                
  Minority interest in net loss                                 
    of joint venture                      - - - -       (18,876)
                                                                
Net loss                                 (64,190)       (94,467)
                                                                
Allocated to general partners               (642)          (945)
                                                                
Allocated to limited partners          $ (63,548)     $ (93,522)
                                                                
Net loss per limited partnership         $ (4.61)       $ (6.78)
unit
                                                                
Average units outstanding                  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  MONTHS  ENDED  MARCH  31,
                                                            
<CAPTION>                                                   
                                           1998           1997
<S>                                         <C>           <C>
Cash flows from operating activities:                            
  Net loss                                ($64,190)     ($94,467)
  Adjustments to reconcile net loss                              
     to cash flow provided by/(used in)                          
     operating activities:                                       
  Depreciation and amortization              55,597       106,569
  Minority interest in joint venture     - - - - -       (18,876)
  Unpaid interest on loan payable                     
    to affiliate                         - - - - -         31,333
  Changes in assets and liabilities                              
    (Increase)/Decrease in accounts         (5,772)        14,381
      receivable
    Increase in leasing commissions      - - - - -       (15,771)
    Decrease/(Increase) in other assets          51       (6,939)
    Increase in accounts                                         
      payable and accrued liabilities        28,962        16,514
    Decrease in tenant deposits             (3,064)       (7,452)
                                                                 
          Net cash provided by                                   
          operating activities               11,584        25,292
                                                                 
Cash flows from investing activities:                            
  Improvements to investment properties     (1,587)         (108)
                                                                 
          Net cash used in investing        (1,587)         (108)
                                                                 
Cash flows from financing activities:                            
  Payments on notes payable                 (9,284)      (23,408)
                                                                 
          Net cash used in                                       
          financing activities              (9,284)      (23,408)
                                                                 
Net Increase in cash                            713         1,776
                                                                 
Cash, beginning of period                     2,310        49,335
                                                                 
Cash, end of period                          $3,023       $51,111
                                                                 
                                                                 
See accompanying notes to the financial                          
                            statements.
</TABLE>

                                  
               Capital Builders Development Properties
                 (A California Limited Partnership)
                                  
                                  
                    NOTES TO FINANCIAL STATEMENTS
                           March 31, 1998


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 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  during  the
quarter ended March 31 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

Subsequent to March 31, 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 will be 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
potential  construction  lenders and  prospective  tenants.   It  is
Management's  objective to have financing in place  sometime  during
the  third  or  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
$8,010  and  $18,553 for the three months ended March 31,  1998  and
1997,  respectively,  while  total  reimbursement  of  expenses  was
$21,184 and $28,594, respectively.

NOTE 4 - INVESTMENT PROPERTIES

The components of the investment property account are as follows:

                               March 31, 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         (1,227,709)          (1,227,226)

     Investment property, net      $3,904,343          $3,947,695

NOTE 5 - NOTES PAYABLE

Notes Payable consist of the following at:
                                             March 31,   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.    $3,314,114   $3,323,398

Land  loan  of  $180,000 due  March,  24,
1998.   The note bears interest  at  bank
prime  rate plus 1.5% (10.0% at  December
31,  1997 with a 9% floor).  The note  is
secured  by  Plaza  de  Oro's  separately
parceled  Phase II land and is guaranteed
by  the  General Partner.  This loan  was
refinanced with a $290,000 land  loan  on
April 1, 1998.                                  180,000      180,000

Total Notes Payable                          $3,494,114   $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                       $582,094
                    1999                        518,136
                    2000                        475,095
                    2001                        259,794
                    2002                        104,178
                    Total                    $1,939,297


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.

     Note payable
     The  fair  value of the Partnership's note 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:
                                 March 31, 1998         December 31, 1997
                             Carrying    Estimated   Carrying   Estimated
                               Amount   Fair Value     Amount  Fair Value
Assets
Cash and cash equivalents      $3,023       $3,023     $2,310      $2,310

Liabilities
Note payable               $3,314,114  $3,314,114  $3,323,398  $3,323,398
Note payable                 $180,000     $180,000   $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.

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

Liquidity and Capital Resources

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

During the three months ending March 31, 1998, there were no
significant financial transactions that 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 will occur during
1998 to help stabilize Plaza de Oro's occupancy, estimated to cost
approximately $67,400 in tenant improvements and leasing
commissions.

Subsequent to March 31, 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 the lease-up of 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.  The current
commercial real estate market in Sacramento is improving, and
potential tenant activity has increased during 1998.

Results of Operations

The  Partnership's total revenues decreased by $182,065  (51.4%)  for
the  three months ended March 31, 1998 as compared to March 31, 1997,
while  expenses  also  decreased by $231,218  (49.4%)  for  the  same
respective period. In addition, the minority interest in net loss has
decreased  by $18,876 (100%) in 1998 compared to 1997, all  resulting
in  a  decrease in net loss of $30,277 (32.0%) for months ended March
31, 1998 as compared to March 31, 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 $170,065 since  the  Partnership  no
longer  owns 60% of the Roseville Joint Venture (Capital Professional
Center), as it did during the three months ended March 31, 1997.  The
Partnership's  remaining  property,  Plaza  de  Oro,  experienced   a
decrease in revenue of $12,000 due to a decrease in occupancy to  76%
from  97%  as of March 31, 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 in  negotiations  to  lease
approximately 3,510 square feet of this space.

Total expenses decreased by $231,218 for the three months ended March
31, 1998, as compared to March 31, 1997, primarily due to the sale of
its  60%  interest in Capital Builders Roseville Venture  on  May  1,
1997.   As  of  March 31, 1998, the Statement of Operations  did  not
include  any  joint  venture expenses, where as of  March  31,  1997,
expenses of $217,247 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:  May 15, 1998           By:
                                   Michael J. Metzger
                                   President


Date:  May 15, 1998           By:
                                   Kenneth L. Buckler
                                   Chief Financial Officer