<PAGE>   1
                                    FORM 10-Q
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

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

                  For the quarterly period ended JUNE 30, 2000
                                                 -------------
                                       OR

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

                        For the transition period from to

                         Commission file number 0-24594
                                               --------


                        WEST COAST REALTY INVESTORS, INC.
             (Exact name of registrant as specified in its charter)


              DELAWARE                                    95-4246740
             ---------                                 -------------------
    (State or other Jurisdiction of                     (I.R.S. Employer
    incorporation or organization)                     Identification No.)


                        5933 W. CENTURY BLVD., 9TH, FLOOR
                          LOS ANGELES, CALIFORNIA 90045
                          -----------------------------
                    (Address of principal executive offices)
                                   (Zip Code)

                                 (310) 670-0800
                                 ---------------
              (Registrant's telephone number, including area code)

              (Former name, former address and former fiscal year,
                         if changed since last report)

     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 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   [ ]
    -----      ----

                      APPLICABLE ONLY TO CORPORATE ISSUERS:

     INDICATE THE NUMBER OF SHARES OUTSTANDING OF EACH OF THE ISSUER'S CLASSES
OF COMMON STOCK, AS OF THE LATEST PRACTICABLE DATE. 2,927,967 SHARES OUTSTANDING
AS OF AUGUST 14, 2000.


<PAGE>   2



                        WEST COAST REALTY INVESTORS, INC.

                                      INDEX

PART I - FINANCIAL INFORMATION

                                                                       PAGE NO.
                                                                       --------
Item 1.  Financial Statements

         Balance Sheets -
         June 30, 2000 and December 31, 1999                                3

         Statements of Stockholders' Equity -
         Six Months Ended June 30, 2000 and 1999                            4

         Statements of Income -
         Three Months and Six Months Ended June 30, 2000 and 1999           5

         Statements of Cash Flows -
         Six Months Ended June 30, 2000 and 1999                            6

         Summary of Accounting Policies                                     7

         Notes to Financial Statements                                      9

Item 2.  Management's Discussion and Analysis of
            Financial Condition and Results of Operations                  17

PART II - OTHER INFORMATION

Item 1. Legal Proceedings                                                  24

Item 2.  Exhibit and Reports on Form 8-K                                   25


<PAGE>   3


PART 1.  FINANCIAL INFORMATION


                        WEST COAST REALTY INVESTORS, INC.

                                 BALANCE SHEETS
<TABLE>
<CAPTION>

------------------------------------------------------------------------------------------------
                                                              JUNE 30, 2000
                                                               (UNAUDITED)    December 31, 1999
------------------------------------------------------------------------------------------------
<S>                                                          <C>              <C>
ASSETS
Rental real estate, less accumulated
   depreciation (Note 1)                                     $ 39,531,972           $ 45,778,403
Cash and cash equivalents                                       4,418,346              1,874,880
Deferred rent                                                     585,675                569,442
Accounts receivable                                               343,575                362,714
Loan origination fees, net of accumulated
     Amortization of $118,135 and $101,927                        214,263                230,471
Other assets                                                       43,891                 48,590
------------------------------------------------------------------------------------------------
TOTAL ASSETS                                                 $ 45,137,722           $ 48,864,500
================================================================================================

LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
   Accounts payable                                          $       --             $        728
   Due to related party (Note 2(e))                               217,919                 87,166
   Dividends payable (Note 4)                                   3,147,565                   --
   Security deposits and prepaid rent                             347,066                484,854
   Other liabilities                                              246,399                201,733
   Notes payable (Note 3)                                      20,449,515             24,616,551
------------------------------------------------------------------------------------------------
TOTAL LIABILITIES                                              24,408,464             25,391,032
COMMITMENTS AND CONTINGENCIES (NOTE 5)
STOCKHOLDERS' EQUITY
Common stock, $.01 par-shares
authorized, 5,000,000 shares, issued and
outstanding 2,927,967, in 2000 and 1999                            29,280                 29,280
Additional paid-in capital                                     26,864,100             26,738,963
Dividends in excess of retained earnings                       (6,164,122)            (3,294,775)
------------------------------------------------------------------------------------------------
TOTAL STOCKHOLDERS' EQUITY                                     20,729,258             23,473,468
------------------------------------------------------------------------------------------------
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                   $ 45,137,722           $ 48,864,500
=================================================================================================

</TABLE>


                 See accompanying notes to financial statements.


<PAGE>   4


                        WEST COAST REALTY INVESTORS, INC.

                       STATEMENTS OF STOCKHOLDERS' EQUITY
                         SIX MONTHS ENDED JUNE 30, 2000
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                                            DIVIDENDS IN
                                                             COMMON        STOCK      ADDITIONAL PAID   EXCESS OF RETAINED
                                                             SHARES        AMOUNT          CAPITAL            EARNINGS
                                                            ---------      -------    ----------------  ------------------
<S>                                                         <C>            <C>        <C>               <C>
BALANCE AT DECEMBER 31, 1999                                2,927,967      $29,280         $26,738,963       $(3,294,775)

Equity contribution by Affiliates through expense
reimbursements (Note 2 (f))                                        --           --             125,137                 --

Net income                                                         --           --                  --          2,869,469

Dividends declared (Note 4)                                        --           --                  --        (5,738,816)
                                                            ---------      -------         -----------       ------------

BALANCE AT JUNE 30, 2000                                    2,927,967      $29,280         $26,864,100       $(6,164,122)
                                                            =========      =======         ===========       ============
</TABLE>

                         SIX MONTHS ENDED JUNE 30, 1999
                                   (UNAUDITED)

<TABLE>
<CAPTION>
                                                                                                            DIVIDENDS IN
                                                             COMMON        STOCK      ADDITIONAL PAID    EXCESS OF RETAINED
                                                             SHARES        AMOUNT        CAPITAL              EARNINGS
                                                            ---------    ---------    ---------------    ------------------
<S>                                                         <C>          <C>          <C>                <C>
BALANCE AT DECEMBER 31, 1998                                2,932,762    $  29,328     $ 26,495,731         $ (2,490,779)

Treasury Stock                                                 (4,795)         (48)         (47,764)                --

Equity  contribution  by Affiliates  through  expense
reimbursements (Note 2 (f))                                      --           --            145,384                 --

Net income                                                       --           --               --                176,982

Dividends declared (Note 4)                                      --           --               --               (937,716)
                                                            ---------    ---------     ------------         ------------
BALANCE AT JUNE 30, 1999                                    2,927,967    $  29,280     $ 26,593,351         $ (3,251,513)
                                                            =========    =========     ============         ============
</TABLE>


                 See accompanying notes to financial statements.


<PAGE>   5



                        WEST COAST REALTY INVESTORS, INC.

                              STATEMENTS OF INCOME

<TABLE>
<CAPTION>

-------------------------------------------------------------------------------------------------------------------------------
                                             THREE MONTHS ENDED    Three Months Ended      SIX MONTHS ENDED    Six Months Ended
                                               JUNE 30, 2000         June 30, 1999          JUNE 30, 2000       June 30, 1999
                                                 (UNAUDITED)          (Unaudited)            (UNAUDITED)         (Unaudited)
-------------------------------------------------------------------------------------------------------------------------------
<S>                                             <C>                    <C>                  <C>                <C>
Revenues
      Rental (Notes 1)                          $ 1,289,790            $1,376,631           $2,652,539         $2,513,574
      Gain on sale of property                    2,154,727                   ---            2,154,727                ---
      Interest                                       33,211                28,823               58,058             46,612
-------------------------------------------------------------------------------------------------------------------------

                                                  3,477,728             1,405,454            4,865,324          2,560,186
-------------------------------------------------------------------------------------------------------------------------
Costs and expenses
      Operating                                      53,259                44,987              142,081             83,510
      Property taxes                                 41,229                38,897               87,598             69,898
      Property management fees (Note 2 (c))          50,435                47,335              104,043             89,265
      Interest expense                              426,662               482,803              986,916            825,540
      General and administrative                    124,989               572,722              256,835            956,170
      Depreciation and amortization                 204,394               187,400              418,382            358,821
-------------------------------------------------------------------------------------------------------------------------

                                                    900,968             1,374,144            1,995,855          2,383,204
-------------------------------------------------------------------------------------------------------------------------

Net income                                       $2,576,760               $31,310           $2,869,469           $176,982
=========================================================================================================================

Net income per share (Note 4)                          $.88                  $.01                 $.98               $.06
==========================================================================================================================

</TABLE>

                 See accompanying notes to financial statements.


<PAGE>   6

                        WEST COAST REALTY INVESTORS, INC.

                            STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>

---------------------------------------------------------------------------------------------------------------
                                                                              SIX MONTHS            Six Months
                                                                                ENDED                 Ended
                                                                             JUNE 30,2000          June 30,1999
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                             (UNAUDITED)           (Unaudited)
---------------------------------------------------------------------------------------------------------------
<S>                                                                          <C>                  <C>
CASH FLOWS FROM OPERATING ACTIVITIES
Net income                                                                   $  2,869,469         $    176,982
Adjustments to reconcile net income to net cash
provided by operating activities:
     Depreciation and amortization                                                402,174              343,529
     Interest expense on amortization of loan origination fees                     16,208               15,292
     Gain on sale of property                                                  (2,154,727)                --
     Equity contribution by Affiliates through expense                            125,137              145,384
          reimbursements
Increase (decrease) from changes in:
     Deferred rent                                                                (37,133)             (80,448)
     Accounts receivable                                                           19,139
     Other assets                                                                 (25,519)            (122,690)
     Accounts payable                                                                (730)             (22,258)
     Due to related party                                                         130,753                7,086
     Security deposits and prepaid rent                                           (86,786)             104,043
     Other liabilities                                                             44,666               57,870
---------------------------------------------------------------------------------------------------------------
NET CASH PROVIDED BY OPERATING ACTIVITIES                                       1,302,651              624,790
---------------------------------------------------------------------------------------------------------------
CASH FLOWS FROM INVESTING ACTIVITIES
  Additions to rental real estate                                                    --            (10,625,919)
  Proceeds from sale of rental real estate                                      7,999,102
---------------------------------------------------------------------------------------------------------------
NET CASH (USED IN) INVESTING ACTIVITIES                                         7,999,102          (10,625,919)
---------------------------------------------------------------------------------------------------------------
CASH FLOWS FROM FINANCING ACTIVITIES
Purchase of Treasury Stock                                                           --                (47,812)
Dividends paid                                                                 (2,591,251)            (469,242)
Increase in notes payable                                                            --              8,375,870
Payments on notes payable                                                      (4,167,036)            (199,105)
(Increase) in loan origination fees                                                  --                (43,996)
---------------------------------------------------------------------------------------------------------------
NET CASH PROVIDED BY FINANCING ACTIVITIES                                      (6,758,287)           7,615,715
---------------------------------------------------------------------------------------------------------------
NET INCREASE, (DECREASE) IN CASH AND CASH EQUIVALENTS                           2,543,466           (2,385,414)

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                                  1,874,880            4,594,587
--------------------------------------------------------------------------------------------------------------
CASH AND CASH EQUIVALENTS,  END OF PERIOD                                    $  4,418,346         $  2,209,173
==============================================================================================================

</TABLE>

                 See accompanying notes to financial statements

<PAGE>   7



                        WEST COAST REALTY INVESTORS, INC.
                         SUMMARY OF ACCOUNTING POLICIES

BUSINESS

West Coast Realty Investors, Inc. (the "Company") is a corporation formed on
October 26, 1989 under the laws of the State of Delaware. The Company exists as
a Real Estate Investment Trust ("REIT") under Sections 856 to 860 of the
Internal Revenue Code. The Company has complied with all requirements imposed on
REIT's for 2000, 1999, and 1998 tax years; however, qualification as a REIT for
future years is dependent upon future operations of the Company. The Company was
organized to acquire interests in income-producing residential, industrial,
retail and commercial properties located primarily in California and the west
coast of the United States. The Company intends to acquire property for cash or
on a moderately leveraged basis with aggregate mortgage indebtedness not to
exceed fifty percent of the value of all properties on a combined basis, or
eighty percent individually and intends on owning and operating such properties
for investment purposes, over an anticipated holding period of five to ten
years.

RENTAL REAL ESTATE AND DEPRECIATION

Assets are stated at lower of cost or net realizable value. Depreciation is
computed using the straight-line method over their estimated useful lives of
31.5 to 39 years for financial and income tax reporting purposes.

In the event that facts and circumstances indicate that the cost of an asset may
be impaired, an evaluation of recoverability would be performed. If an
evaluation is required, the estimated future undiscounted cash flows associated
with the asset would be compared to the carrying amount to determine if a
write-down to market value is required.

PRESENTATION OF INTERIM INFORMATION

In the opinion of the Advisor of West Coast Realty Investors, Inc. (the
"Company"), the accompanying unaudited financial statements include all normal
adjustments considered necessary to present fairly the financial position as of
June 30, 2000 and the results of operations and cash flows for the three and six
months ended June 30, 2000 and 1999. Interim results are not necessarily
indicative of results for a full year.

The financial statements and notes are presented as permitted by Form 10-Q, and
do not contain certain information included in the Company's audited financial
statements and notes for the fiscal year ended December 31, 1999.


<PAGE>   8



                        WEST COAST REALTY INVESTORS, INC.
                         SUMMARY OF ACCOUNTING POLICIES

RENTAL INCOME

Rental revenue is recognized on a straight-line basis to the extent that rental
income is deemed collectible. Where there is uncertainty of collecting higher
scheduled rental amounts, due to the tendency of tenants to renegotiate their
leases for lower amounts, rental income is recognized as amounts are collected.

ACQUISITION COSTS

The Company expenses internal acquisition costs in accordance with Emerging
Issues Task Force 97-11, "Accounting for Internal Costs Relating to Real Estate
Property Acquisitions" which was issued in March 1998. Acquisition costs are
paid to an affiliate, West Coast Realty Advisors ("WCRA") who incurs such
internal acquisition costs.

LOAN ORIGINATION FEES

Loan origination fees are capitalized and amortized over the life of the loan.

CASH AND CASH EQUIVALENTS

The Company considers cash in the bank, liquid money market funds, and all
highly liquid certificates of deposit, with original maturities of three months
or less, to be cash and 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.

NET INCOME PER SHARE

Net income per share is calculated by dividing the net income by the weighted
average number of shares outstanding for the period.


<PAGE>   9



                        WEST COAST REALTY INVESTORS, INC.
                          NOTES TO FINANCIAL STATEMENTS
          THREE AND SIX MONTHS ENDED JUNE 30, 2000 AND 1999 (UNAUDITED)
                              AND DECEMBER 31, 1999

NOTE 1 - RENTAL PROPERTIES

The Company owns the following income-producing properties:

<TABLE>
<CAPTION>

                                                                                        Original
                                                                                       Acquisition
 Location (Property Name)                              Date Purchased                      Cost
 --------------------------------------------------------------------------------------------------
<S>                                                   <C>                              <C>
 Huntington Beach, California (Blockbuster)           February 26, 1991                 $ 1,676,210
 Fresno, California                                   May 14, 1993                        1,414,893
 Riverside, California                                November 29, 1994                   3,655,500
 Tustin, California (Safeguard)                       May 22, 1995                        4,862,094
 Sacramento, California (Java City)                   August 2, 1996                      1,828,500
 Irvine, California (Tycom)                           January 17, 1997                    4,907,440
 Roseville, California (Applebee's)                   October 31, 1997                    1,976,484
 Corona, California                                   December 31, 1997                   1,904,452
 Sacramento, California (Horn Road)                   January 15, 1998                    2,141,200
 Chino, California                                    April 19, 1998                      1,859,338
 Vacaville, California                                May 20, 1998                        2,735,308
 Cerritos, California                                 December 23, 1998                   2,314,569
 Ontario, California                                  January 12, 1999                    4,614,964
 Folsom, California                                   May 1, 1999                         6,010,956

</TABLE>


The major categories of property are:

<TABLE>
<CAPTION>

                                                            June 30,                  December 31,
                                                               2000                       1999
 --------------------------------------------------------------------------------------------------
<S>                                                       <C>                          <C>
 Land                                                     $ 13,958,415                 $ 16,318,835
 Buildings and improvements                                 27,943,493                   31,959,668
 --------------------------------------------------------------------------------------------------

                                                            41,901,908                   48,278,503
 Less accumulated depreciation                               2,369,936                    2,500,100
 --------------------------------------------------------------------------------------------------

 Net rental properties                                    $ 39,531,972                 $ 45,778,403
 --------------------------------------------------------------------------------------------------
</TABLE>

On April 12, 2000 the Huntington Beach property (OPTO-22) was sold to an
unaffiliated buyer for a sales price of $3,675,000. The net book value of the
property was $2,395,417 which resulted in a gain of $999,150 net of selling
costs.

On June 30, 2000 the company sold the Fremont property to an unaffiliated buyer
for a sales price of $4,850,000. The net book value of the property was
$3,448,840 which resulted in a gain of $1,155,578 net of selling costs.


<PAGE>   10


                        WEST COAST REALTY INVESTORS, INC.
                          NOTES TO FINANCIAL STATEMENTS
          THREE AND SIX MONTHS ENDED JUNE 30, 2000 AND 1999 (UNAUDITED)
                              AND DECEMBER 31, 1999

NOTE 1 - RENTAL PROPERTIES (CONTINUED)

A significant portion of the Company's rental revenue was earned from tenants
whose individual rents represented more than 10% of total rental revenue.
Specifically:

One tenant accounted for 12.19% for the six months ended June 30, 2000; and

Two tenants accounted for 12.20%, and 11.70%, respectively, for the six months
ended June 30, 1999.

NOTE 2 - RELATED PARTY TRANSACTIONS

Sales commissions and wholesaling fees, representing 7% of the gross proceeds
from the sale of common shares, were paid to Associated Securities Corp.
("ASC"), a member of the National Association of Securities Dealers, Inc.
("NASD") and an affiliate of the Advisor.

The Advisor has an agreement with the Company to provide advice on investments
and to administer the day-to-day operations of the Company. At June 30, 2000,
the Advisor owned 22,556 shares of the Company. Property management services for
the Company's properties are provided by West Coast Realty Management, Inc.
("WCRM"), an affiliate of the Advisor.

Certain officers and directors of the Company are also officers and directors of
the Advisor and its affiliates.

During the periods presented, the Company had the following related party
transactions:

     (a) In accordance with the advisory agreement, compensation earned by, or
services reimbursed or reimbursable to the advisor, consisted of the following:

<TABLE>
<CAPTION>

                                                SIX MONTHS ENDED       FOR THE YEAR ENDED
                                                  JUNE 30, 2000        DECEMBER 31, 1999
                                                ----------------       -----------------
<S>                                             <C>                     <C>
Acquisition fees and refinancing fees             $       --               $682,414
Disposition fees                                     255,750                    --
Overhead expenses                                     16,000                 24,000
                                                   ---------               --------
                                                   $ 271,750               $706,414
                                                   =========               ========


</TABLE>

<PAGE>   11



                        WEST COAST REALTY INVESTORS, INC.
                          NOTES TO FINANCIAL STATEMENTS
          THREE AND SIX MONTHS ENDED JUNE 30, 2000 AND 1999 (UNAUDITED)
                              AND DECEMBER 31, 1999


NOTE 2 - RELATED PARTY TRANSACTIONS (CONTINUED)

     (b) At June 30, 2000 and December 31, 1999, the Advisor owned 22,556 shares
of the issued and outstanding shares of the Company.

     (c) Property management fees earned by WCRM totaled $104,043 and $89,265
for the six months ended June 30, 2000 and 1999, respectively.

     (e) The Corporation had related party accounts payable as follows:

<TABLE>
<CAPTION>

                                                    JUNE 30, 2000         DECEMBER 31, 1999
                                                    -------------         -----------------
         <S>                                        <C>                   <C>
         Associated Securities Corp.                   $ 11,250               $ 22,723
         West Coast Realty Management                    51,169                 58,443
         West Coast Realty Advisors                     155,500                  6,000
                                                       --------                -------
                                                       $217,919                $87,166
                                                       ========                =======

</TABLE>

     (f) Advisory fees earned by WCRA totaled $125,137 and $145,384 for the six
months ended June 30, 2000 and 1999, respectively. WCRA waived collection of
$125,137, (or 100%) and $145,384 (or 100%) respectively, of these fees which are
included in additional paid-in capital.


NOTE 3 - NOTES PAYABLE

<TABLE>
<CAPTION>

                                                                                                     December 31,
                                                                                 JUNE 30, 2000          1999
 ----------------------------------------------------------------------------------------------------------------
<S>                                                                                <C>             <C>
8.25% promissory note secured by a Deed of Trust on the Fresno Property,
  monthly principal and interest payments are $5,244 balance due August 1,
  2003                                                                             $  581,637      $  590,029

8.25% promissory note secured by a Deed of Trust on the Blockbuster property,
  interest rate adjusts to the 5-year Treasury rate plus 350 basis points on
  February 1, 1999, monthly principal and interest
  payments are $4,934, balance due February 1, 2004                                   518,303         527,580

8.25% promissory note secured by a Deed of Trust on the Riverside property,
  monthly principal and interest payments are $9,116, balance
  due November 8, 2004                                                              1,137,600       1,143,447


</TABLE>


<PAGE>   12


                        WEST COAST REALTY INVESTORS, INC.
                          NOTES TO FINANCIAL STATEMENTS
          THREE AND SIX MONTHS ENDED JUNE 30, 2000 AND 1999 (UNAUDITED)
                              AND DECEMBER 31, 1999


NOTE 3 - NOTES PAYABLE (CONTINUED)

<TABLE>
<CAPTION>

                                                                                                    December 31,
                                                                                  JUNE 30, 2000         1999
 ----------------------------------------------------------------------------------------------------------------
<S>                                                                               <C>               <C>
 9.625% promissory note secured by a Deed of Trust on the Safeguard property,
   monthly principal and interest payments are $24,190, balance
   due February 1, 2005                                                            1,802,879           1,868,858

 8%promissory note secured by a Deed of Trust on the Java City property,
   monthly principal and interest payments are $3,126, balance due June
   1, 2018                                                                           354,855             358,931

 Variable rate promissory note secured by a Deed of Trust on the Tycom property,
   interest rate margin is 1.9% over the 3 month LIBOR with right of conversion
   after the first year (7.23% at June 30, 2000), monthly payments of principal
   and interest are $16,693, balance due
   August 1, 2007                                                                  2,210,028           2,229,873

 7.5% promissory note secured by a Deed of Trust on the Chino property, monthly
   principal and interest payments are $6,836, balance due October 1, 2010 (rate
   is adjustable on the fourth and eighth anniversary years of the loan, to the
   weekly average of the five-year Treasury Note yield for the seventh week
   prior to the Adjustment Date plus 200 basis points, but no less than the
   existing rate)                                                                    902,604             909,618

 7.5% promissory note secured by a Deed of Trust on the Vacaville property,
   monthly principal and interest payments are $10,346, balance due October 1,
   2010 (rate is adjustable on the fourth and eighth anniversary years of the
   loan, to the weekly average of the five-year Treasury Note yield for the
   seventh week prior to the Adjustment Date
   plus 200 basis points, but no less than the existing rate)                      1,366,112           1,376,725

 7.375% promissory note secured by a Deed of Trust on the Horn Road property,
   monthly principal and interest payments are $7,309, balance due June 1, 2011
   (rate is adjustable on the fourth and eighth anniversary years of the loan,
   to the weekly average of the five-year Treasury Note yield for the seventh
   week prior to the Adjustment Date plus 195 basis points, but no less than the
   existing rate)                                                                    964,025             977,933

 8.33% promissory note secured by a Deed of Trust on the Roseville property,
   monthly principal and interest payments are $11,510 balance
   due July 1, 2008                                                                1,414,129           1,425,641

</TABLE>


<PAGE>   13


                        WEST COAST REALTY INVESTORS, INC.
                          NOTES TO FINANCIAL STATEMENTS
          THREE AND SIX MONTHS ENDED JUNE 30, 2000 AND 1999 (UNAUDITED)
                              AND DECEMBER 31, 1999

NOTE 3 - NOTES PAYABLE (CONTINUED)
<TABLE>
<CAPTION>

                                                                                                    December 31,
                                                                                  JUNE 30, 2000        1999
 ----------------------------------------------------------------------------------------------------------------
<S>                                                                               <C>              <C>
 7.375% promissory note secured by a Deed of Trust on the Corona property,
   monthly principal and interest payments are $7,309 balance due June 1, 2011
   (rate is adjustable on the fourth and eighth anniversary years of the loan,
   to the weekly average of the five-year Treasury Note yield for the seventh
   week prior to the Adjustment Date plus 195 basis points, but no less than the
   existing rate)                                                                    964,025             977,933

 7.50% promissory note secured by a Deed of Trust on the Cerritos property,
   monthly principal and interest payments are $9,238 balance due April 1, 2011
   (rate is adjustable on the fourth and eighth anniversary years of the loan,
   to the weekly average of the five-year Treasury Note yield for the seventh
   week prior to the Adjustment Date plus 275 basis points, but no less than the
   existing rate)                                                                  1,229,212           1,238,343

 7.50% promissory note secured by a Deed of Trust on the Ontario property,
   monthly principal and interest payments are $22,390 balance due March
   1, 2004                                                                         2,946,996           2,971,576

 1.75% plus LIBOR rate (7.87% at December 31, 1999) promissory note secured by a
   deed of trust of the Folsom property, monthly principal and interest payments
   are $29,425, balance due September 1, 2001                                      4,057,110           4,089,050

 8.24% promissory note secured by a Deed of Trust on the Fremont property,
   interest rate equaled the 20-year Treasury rate plus 1.65% at loan closing,
   monthly principal and interest payments are currently $18,898,
   balance due August 1, 2015 (Paid-off June 30, 2000)                                   ---           1,977,469

 10% promissory note secured by a Deed of Trust on the Java City property,
   monthly principal and interest payments are $3,413, balance due
   November 1, 2001 (Paid-off June 30, 2000)                                             ---             312,318

</TABLE>

<PAGE>   14


                        WEST COAST REALTY INVESTORS, INC.
                          NOTES TO FINANCIAL STATEMENTS
          THREE AND SIX MONTHS ENDED JUNE 30, 2000 AND 1999 (UNAUDITED)
                              AND DECEMBER 31, 1999


NOTE 3 - NOTES PAYABLE (CONTINUED)

<TABLE>
<CAPTION>

                                                                                                     December 31,
                                                                                  JUNE 30, 2000         1999
 ----------------------------------------------------------------------------------------------------------------
<S>                                                                               <C>                 <C>
 Variable rate promissory note secured by a Deed of Trust on the OPTO-22
   property, interest rate adjustments are monthly and are based on the 11th
   District cost of funds rate plus 3% (7.963% at December 31, 1998), and may
   not go below 6.5% or above 11.0%, monthly principal and interest payments are
   $12,794, balance due October 1, 2003 (Paid-off April 12, 2000)                          --           1,641,227
 ----------------------------------------------------------------------------------------------------------------
 TOTAL                                                                            $20,449,515         $24,616,551
 ----------------------------------------------------------------------------------------------------------------
</TABLE>

The aggregate annual future maturities at June 30, 2000 are as follows:

<TABLE>
         <S>                                      <C>
         2001 ..................................     $415,432
         2002 ..................................    4,398,547
         2003 ..................................      444,509
         2004 ..................................    4,183,204
         2005 ..................................    2,538,566
         Thereafter ............................    8,469,257
                                                  -----------
         Total                                    $20,449,515
                                                  ===========
</TABLE>

NOTE 4 - NET INCOME AND DIVIDENDS PER SHARE

Dividends are declared and accrued based approximately upon the previous
quarter's income from operations before depreciation and amortization.

Net Income Per Share for the six months ended June 30, 2000 and 1999 was
computed using the weighted average number of outstanding shares of 2,927,967
and 2,930,707, respectively.


<PAGE>   15



                        WEST COAST REALTY INVESTORS, INC.
                          NOTES TO FINANCIAL STATEMENTS
          THREE AND SIX MONTHS ENDED JUNE 30, 2000 AND 1999 (UNAUDITED)
                              AND DECEMBER 31, 1999


NOTE 4 - NET INCOME AND DIVIDENDS PER SHARE (CONTINUED)

Dividends declared during the first six months of 2000 and 1999 were as follows:

<TABLE>
<CAPTION>

                            OUTSTANDING           AMOUNT           TOTAL
RECORD DATE                   SHARES             PER SHARE       DIVIDEND
-----------                   ------             ---------      -----------
<S>                          <C>                  <C>           <C>
December 31, 1999            2,927,967            $0.060        $   175,678
March 31, 2000               2,927,967             0.175            512,394
May 23, 2000                 2,927,967             0.650          1,903,179
June 30, 2000                2,927,967             1.075          3,147,565
                                                                 ----------
TOTAL 2000                                                       $5,738,816
                                                                 ==========
March 31, 1999               2,932,762            $0.160            469,242
June 30, 1999                2,927,967             0.160            468,474
                                                                 ----------
TOTAL 1999                                                       $  937,716
                                                                 ==========

</TABLE>

NOTE 5 - LITIGATION

The Company is a defendant in a lawsuit entitled JOHN LONBERG & RUTHEE GOLDKORN
V. SANBORN THEATERS, INC. A CALIFORNIA CORPORATION DOING BUSINESS AS MARKET LACE
CINEMA; SO-CAL CINEMA, INC., A CALIFORNIA CORPORATION; AND
SALTS-TROUTMAN-KANESHIRO, INC., WEST COAST REALTY INVESTORS, INC., USDC Central
District of California, Eastern Division Case No. CV-97-6598AHM (JGx). This is
an Americans with Disabilities Act claim brought against the Market Place Cinema
located in Riverside, California. The theater is owned by the Company and leased
to and operated by Sanborn Theaters. Plaintiffs allege certain features of the
theater discriminated against them and violated state and federal disabled
access laws. Plaintiffs demand statutory damages, damages for emotional
distress, a "lodestar" multiplier, attorneys' fees, and punitive damages.
Plaintiffs have not quantified their damages, however, it is expected that
Plaintiffs claims will exceed $300,000. The United States Department of Justice
has intervened in this suit. This case has now been stayed pending the outcome
of a similar case filed against AMC Theaters. Management cannot determine the
likelihood of an unfavorable outcome or range of potential loss.

<PAGE>   16


                        WEST COAST REALTY INVESTORS, INC.
                          NOTES TO FINANCIAL STATEMENTS
          THREE AND SIX MONTHS ENDED JUNE 30, 2000 AND 1999 (UNAUDITED)
                              AND DECEMBER 31, 1999


NOTE 6 - SUBSEQUENT EVENTS

(a) On July 14, 2000, the Company paid dividends totaling $3,147,565 ($1.075 per
share), payable to shareholders of record as of June 30, 2000.



NOTE 7 - SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION

<TABLE>
<CAPTION>

                                                                   2000              1999
                                                                   ----              ----
<S>                                                            <C>                 <C>
Cash paid during the period  for interest:                     $   986,916         $ 825,840
Supplemental Disclosure of non-cash financing activites:
    Equity contributed by an affilaite through expense         $   125,138         $ 145,384
     Reimbursement:
    Dividends declared net of dividends paid:                  $ 3,147,565         $ 468,477

</TABLE>


<PAGE>   17


                        WEST COAST REALTY INVESTORS, INC.

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

Certain statements in the Management Discussion and Analysis constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995 (the "Reform Act"). Such forward-looking
statements involve known and unknown risks, uncertainties, and other factors
which may cause the actual results, performance or achievements of the Company
to be materially different from any future results, performance or achievements,
expressed or implied by such forward-looking statements.

INTRODUCTION

West Coast Realty Investors, Inc. (the "Company") was organized in October 1989
under the laws of the State of Delaware. The Company qualifies as a Real Estate
Investment Trust ("REIT") for federal and state income tax purposes. The Company
is advised by West Coast Realty Advisors, Inc. (the "Advisor"), a wholly owned
subsidiary of Associated Financial Group, Inc. The Advisor will oversee the
investments of the Company, subject to the direction of the Company's Board of
Directors.

The Company is organized for the purpose of investing in, holding, and managing
income-producing retail or commercial properties located primarily in California
and on the West Coast of the United States. Properties have been and will be
acquired for cash or on a moderately leveraged basis with aggregate mortgage
indebtedness not to exceed fifty percent of the value of all properties on a
combined basis or eighty percent individually. The Company intended on holding
each property for approximately seven to ten years.

The Company's principal goals are to:

1.   Invest in properties which will preserve and protect capital;
2.   Provide shareholders with cash dividends, a portion of which will not
     constitute taxable income; and
3.   Provide capital gains through potential appreciation of properties.

The ownership and operation of any income-producing real estate is subject to
those risks inherent in all real estate investments, including national and
local economic conditions, the supply and demand for similar types of real
property, competitive marketing conditions, zoning changes, possible casualty
losses, and increases in real estate taxes, assessments, and operating expenses,
as well as others.



<PAGE>   18



                        WEST COAST REALTY INVESTORS, INC.

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
         CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

INTRODUCTION (CONTINUED)

In addition, the Company is subject to the usual competitive factors that are
common in real estate including new construction, changes in the economy, and
vacancy factors at other rental real estate locations.

The Company is operated by the Advisor, subject to the terms of the Amended
Advisory Agreement dated January 1, 1992, which was renewed until June 30, 2001
by a majority vote of the shareholders, and will thereafter be renewable
annually with the approval of a majority of the shareholders. The Company has no
employees, and all administrative services are provided by the Advisor.

RESULTS OF OPERATIONS - SIX MONTHS ENDED JUNE 30, 2000 VS. SIX MONTHS ENDED JUNE
30, 1999

Operations for the six months ended June 30, 2000 represented a full six months
of rental operations for all properties except for the OPTO-22 property which
was sold April 12, 2000 and the Fremont property which was sold June 30, 2000.
This compares to the six months ended June 30, 1999, which represented a full
six months of rental operations including the above properties but excluding the
Folsom property which was purchased on May 1, 1999 and the Ontario property
which was purchased January 12, 1999.

The net income for the six months ended June 30, 2000 of $2,869,469 increased
significantly from net income for the six months ending June 30, 1999 of
$176,982 primarily due to the gain on sale of the OPTO-22 and Fremont
properties, and because the Company did not incur acquisition and financing
costs in the six months ended June 30, 2000. In the six months ended June 30,
1999, the Company incurred acquisition and financing costs of $682,414.

Rental revenue increased $138,965 (5.53%) primarily due to the ownership of the
Folsom for a full six months in 2000, (compared to 2 months during the six
months ended June 30, 1999) partially offset by the loss of rents from the sale
of the OPTO-22 property in April 2000. Interest income increased $11,446
(24.55%) due to higher average balances maintained in interest earning assets
during the six months ended June 30, 2000 as compared to the six months ended
June 30, 1999. Average balances of interest earning assets for the six months
ended June 30, 2000 were significantly higher due to investment of the proceeds
from the sale of the OPTO-22 and Fremont sales until their subsequent
distribution. Average balances for the six months ended June 30, 1999 were also
lower because the Ontario property was purchased for all cash on January 12,
1999 and the



<PAGE>   19



                        WEST COAST REALTY INVESTORS, INC.

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
         CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

RESULTS OF OPERATIONS - SIX MONTH ENDED JUNE 30, 2000 VS. SIX MONTHS ENDED JUNE
30, 1999 (CONTINUED)

Company received the proceeds from financing the Ontario and Cerritos properties
in March 1999.

Operating expenses, property taxes, and property management fees increased
$91,049 (37.42%) primarily due to the cost of operating the Folsom property in
2000. Interest expense increased $161,376 (19.55%) due to the additional debt
incurred in connection with property acquisitions and refinancing activities.
General and administrative costs decreased $699,335 (73.14%) principally because
the Company did not incur acquisition and financing fees in 2000 (the Company
incurred $682,414 of such fees in the first six months of 1999). Depreciation
and amortization expense increased $59,561 (16.60%) as a result of the ownership
of additional properties during the six months ended June 30, 2000 compared to
the six months ended June 30, 1999.

The average number of shares outstanding during the six months ended June 30,
2000 was 2,927,967 vs. 2,930,707 for the six months ended June 30, 1999. Net
income per share increased from $.06 in 1999 to $.98 in 2000.

During the six months ended June 30, 2000, the Company declared dividends
totaling $5,738,816, which included a "1999 Spill-Over Dividend" of $175,678.
This compares to dividends of $937,719 declared for the six months ended June
30, 1999. The company generated $1,258,262 in cash basis net income from
operations before depreciation expense of $418,382, equity contribution by
Affiliate through expense reimbursements of $125,138, and the combined gain from
the sales of the OPTO-22 and Fremont properties of $2,154,727 for the six months
ended June 30, 2000. Cash distributions based on 2000 operations of $1,024,788
were $233,474 less than cash basis net income. In comparison, distributions in
the six months ended June 30, 1999 were $256,532 greater than cash basis income
of $681,187. The Company continued to qualify as a REIT in 2000, and liquidity
of the Company continues to be strong.


<PAGE>   20



                        WEST COAST REALTY INVESTORS, INC.

ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
          CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

RESULTS OF OPERATIONS - THREE MONTHS ENDED JUNE 30, 2000 VS. THREE MONTHS ENDED
JUNE 30, 1999

Operations for the quarter ended June 30, 2000 represented a full quarter of
rental operations for all properties except for the OPTO-22 property which was
sold April 12, 2000 and the Fremont property which was sold June 30, 2000.

The net income for the quarter ending June 30, 2000 of $2,576,760 increased
significantly from the quarter ending June 30, 1999 of $31,310, primarily due to
the gain on sale of the OPTO-22 and Fremont properties, and because the Company
did not incur acquisition and financing costs for the three months ending June
30, 2000. In the three months ending June 30, 1999, the Company incurred
acquisition and financing costs of $421,378.

Rental revenue decreased for the quarter ending June 30, 2000 by $86,841 (6.31%)
primarily due to the sale of OPTO-22 on April 12, 2000 and due to receipt of
five months of rent on the Riverside property during the three months ending
June 30, 1999. Interest income increased $4,387 (15.22%) during the quarter
ending June 30, 2000 resulting from investment of the proceeds from the sale of
the OPTO-22 property.

Operating expenses, property taxes, and property management fees increased
$13,702 (10.44%) for the quarter ending June 30, 2000, compared to the quarter
ending June 30, 1999, primarily due to the cost of operating the Folsom property
for a full three month period in 2000. Interest expense decreased $56,141
(11.63%) primarily due to payoff of the note payable on the OPTO-22 property on
April 12, 2000. General and administrative costs decreased $447,733 primarily
because the Company did not incur acquisition and financing fees in 2000. The
Company incurred $421,378 of such fees in the three months ending June 30, 1999.
Depreciation and amortization expense increased $16,994 (9.07%) primarily as a
result of the cost of operating the Folsom property for a full three month
period in 2000.

The average number of shares outstanding during the quarter ending June 30, 2000
was 2,927,967 vs. 2,929,166 for the quarter ending June 30, 1999. Net income per
share increased from $.01 for the quarter ended June 30, 1999 to $.88 for the
quarter ended June 30, 2000.



<PAGE>   21


                        WEST COAST REALTY INVESTORS, INC.

ITEM 2.   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
          CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

RESULTS OF OPERATIONS - THREE MONTHS ENDED JUNE 30, 2000 VS. THREE MONTHS ENDED
JUNE 30, 1999 (CONTINUED)

During the quarter ended June 30, 2000, the Company declared dividends totaling
$5,050,744, compared to dividends of $468,474 declared for the quarter ended
June 30, 1999. Cash basis net income for the quarter ended June 30, 2000 was
$678,340. This was derived by adding depreciation and amortization expense, and
the equity contribution by Affiliate through expense reimbursement to net
income, less the gain on sale of properties. Cash distributions based on quarter
ending June 30, 2000 operations of $512,394 were $165,946 less than cash basis
net income. In comparison, distributions in the three months ending June 30,
1999 were $249,764 greater than cash basis income of $681,187.

LIQUIDITY AND CAPITAL RESOURCES

During the six months ended June 30, 2000, the Company declared dividends
totaling $5,563,138 of which $2,415,573 was paid prior to June 30, 2000 and
$3,147,565 was paid subsequent to June 30, 2000. When compared to the six months
ended June 30, 1999 the Company declared dividends totaling $937,716 of which
$469,242 was paid prior to June 30, 1999 and $468,477 was paid subsequent to
June 30,1999. Dividends are determined by management based on cash flows and the
liquidity position of the Company. It is the intention of management to declare
quarterly dividends, subject to the maintenance of reasonable reserves.

Management uses cash and cash equivalents as its primary measure of the
Company's liquidity. The amount of cash that represents adequate liquidity for a
real estate investment company is dependent on several factors. Among them are:

       1.   Relative risk of the Company's operations;
       2.   Condition of the Company's properties;
       3.   Stage in the Company's operating cycle (e.g., money-raising,
            acquisition,  operating or disposition phase); and
       4.   Shareholders dividends.

The Company is adequately liquid and management believes it has the ability to
generate sufficient cash to meet both short-term and long-term liquidity needs,
based upon the above four factors.



<PAGE>   22



                        WEST COAST REALTY INVESTORS, INC.

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
         CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

LIQUIDITY AND CAPITAL RESOURCES (CONTINUED)

The first factor refers to the risk of the Company's investments. At June 30,
2000, the Company's excess funds were invested in short-term money market funds.
The Company acquires rental property either entirely for cash or with moderate
financing. Although the notes payable, which evidence such financing, are set up
on an amortization schedule allowing for the repayment of principal over time,
most of the principal on the notes is due in balloon payments that come due in
the years 2001 through 2011. The Company is aware that the balloon payments must
be satisfied either through refinancing of the loans or the sale of the
property(ies) in order to protect the interests of the Company's shareholders.
Furthermore, most of the properties' tenants are nationally known retailers or
well-established businesses committed under long-term leases.

The second factor refers to the condition of the Company's properties. The
Company's properties are in good condition without significant deferred
maintenance obligations and are leased under "triple-net" leases, which reduces
the Company's risk pertaining to excessive maintenance and operating costs.

The third factor refers to operating cycle. The Company was liquid at June 30,
2000 and is in the "operating" stage of its life cycle. Virtually all excess
funds were invested in a short-term money market fund. At quarter-end, the
Company has allocated approximately $400,000 towards a "reserve", $3,150,000 of
cash is held pending dividend distribution to stockholders, which was paid July
14, 2000, $100,000 of cash to be paid for current mortgage and accounts payable
commitments, $350,000 in tenant security deposits and prepaid rents, and the
balance-approximately $420,000, is to be held for working capital purposes. The
Company's operations generated $1,258,262 in net operating cash flow during the
six months ending June 30, 2000 (net income from operations before depreciation
expense, equity contribution by Affiliate through expense reimbursements, and
gain on sale of properties). Thus, the Company is generating significant amounts
of cash flow and could withhold payment of all or a portion of dividends, if
necessary, in order to rebuild cash balances.

The fourth factor refers to distribution of dividends to shareholders. Dividends
to shareholders were made at a level consistent with the amount of net income
available after application of expenses. The Advisor is careful not to make
distributions in excess of the available income.

Inflation and changing prices have not had a material effect on the Company's
operations. Operations in the near future may be materially affected as and when
the Company acquires additional property.


<PAGE>   23


                        WEST COAST REALTY INVESTORS, INC.

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL
         CONDITION AND RESULTS OF OPERATIONS (CONTINUED)

CASH FLOWS - JUNE 30, 2000 VS. JUNE 30, 1999

Cash resources increased $2,543,466 during the six months ended June 30, 2000
compared to a $2,385,414 decrease in cash resources for the six months ended
June 30, 1999. Cash provided by operating activities increased by $1,302,651
with the largest contributor being $1,258,262 in cash basis net income for the
six months ended June 30, 2000. In contrast, the six months ended June 30, 1999
provided $624,790 in cash from operating activities due primarily to $681,187 in
cash basis net income. Cash provided by investing activities for the six months
ending June 30, 2000 of $7,999,102 was the result of proceeds from the sales of
the OPTO-22 and Fremont properties. The sole use of cash in investing activities
for the six months ended June 30, 1999 was $10,625,919 expended for the
acquisition of two additional properties located in Ontario and Folsum,
California. For the six months ended June 30, 2000, financing activities
required $6,758,287, resulting from the pay-off of the OPTO-22, Fremont, and
Java City property notes payable as well as principal payments on other notes
payable, and $2,591,251 for dividends paid. For the six months ended June 30,
1999, financing activities provided $7,615,715 due to $8,375,870 in financing
obtained in connection with the acquisition of the Cerritos, Ontario, and
Folsum, California properties, offset by purchases of Treasury Stock of $47,812,
dividends paid of $469,242, repayments on notes payable of $199,105 and
increases in loan origination fees of $43,996.



<PAGE>   24


                        WEST COAST REALTY INVESTORS, INC.

                                     PART II

                       O T H E R    I N F O R M A T I O N

ITEM 1. LEGAL PROCEEDINGS

     The Company is a defendant in a lawsuit entitled JOHN LONBERG; RUTHEE
GOLDKORN V. SANBORN THEATERS, INC.; SO-CAL CINEMA, INC.; SALTS, TROUTMAN AND
KANESHIRO, INC.; WEST COAST REALTY INVESTORS, INC., in the U.S. District Court
for the Central District of California. (Case #CV-97-6598AHM(JGx)

The Company was added as a defendant in the plaintiff's First Amended Complaint
filed May 7, 1998, apparently due to the Company's status as landlord for a
movie theater known as the Riverside Market Place Cinema.

The plaintiffs alleged violations of the federal Americans with Disabilities Act
and the California Unruh Civil Rights Act with respect to their movie-going
experiences, including inadequate physical accommodations for wheelchair-bound
guests and insensitive theater personnel. Sanborn is the tenant and theater
operator. Troutman is the architect who designed the theater and its interiors.

The plaintiffs seek actual damages of $1,000 for each violation of law; three
times actual damages; and attorneys fees, expenses and costs. The plaintiffs
also seek mandatory injunctive relief requiring the defendants to make the
theater accessible to and useable by disabled individuals.

The plaintiffs have agreed to dismiss their claims under the Unruh Civil Rights
Act.

The U.S. Department of Justice, Civil Rights Division ("DOJ") filed a Motion to
Intervene in the case on March 1, 1999. DOJ has sued Sanborn Theaters only and
preliminary discussions have been held between the DOJ and Sanborn. Sanborn
intends to vigorously defend against the DOJ.

This case has now been stayed pending the outcome of a similar case filed
against AMC Theaters.

Management cannot determine the likelihood of an unfavorable outcome or range of
potential loss.



<PAGE>   25


                        WEST COAST REALTY INVESTORS, INC.

                                     PART II

                   O T H E R   I N F O R M A T I O N (CONTINUED)

ITEM 2. EXHIBIT AND REPORTS ON FORM 8-K

     (a)  Information required under this section has been included in the
          financial statements.

     (b)  Reports on Form 8-K
          None


<PAGE>   26


                               S I G N A T U R E S

     Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.

                                    WEST COAST REALTY INVESTORS, INC.
                                             (Registrant)


Date: August 14, 2000                     /s/ W. THOMAS MAUDLIN JR.
                                    -------------------------------------
                                            W. THOMAS MAUDLIN JR.
                                       (Director, President and Principal
                                              Executive Officer)



Date: August 14, 2000                       /s/ JOHN R. LINDSEY
                                    -------------------------------------
                                               JOHN R. LINDSEY
                                          (Vice President/Treasurer,
                                        Principal Financial Officer, and
                                          Principal Accounting Officer)