UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 10-Q

[X] Quarterly Report Pursuant to Section 13 or 15(d) of the Securities  Exchange
Act of 1934

For the period ended September 30, 1996
                     ------------------
                                       or

[ ] Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934 [No Fee Required]

For the transition period from         to
                              --------    ---------

Commission File Number 0-16876
                       --------


            PS PARTNERS VIII, LTD., a California Limited Partnership
            ----------------------------------------------------------
             (Exact name of registrant as specified in its charter)


               California                                        95-4029178
-----------------------------------                      ----------------------
    (State or other jurisdiction of                          (I.R.S. Employer
     incorporation or organization)                       Identification Number)

           701 Western Avenue
          Glendale, California                                  91201-2394
-----------------------------------                      ----------------------
(Address of principal executive offices)                        (Zip Code)



Registrant's telephone number, including area code: (818) 244-8080
                                                    --------------

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
                                       --   --


<PAGE>
                                      INDEX


PART I.   FINANCIAL INFORMATION

Condensed balance sheets at September 30, 1996
     and December 31, 1995                                                2

Condensed statements of income for the three and nine
     months ended September 30, 1996 and 1995                             3

Condensed statements of cash flows for the nine
     months ended September 30, 1996 and 1995                             4

Notes to condensed financial statements                                   5

Management's discussion and analysis of financial condition
     and results of operations                                          6-8

PART II.  OTHER INFORMATION

(Items 1 through 4 are not applicable)

Item 5 - Other Information                                                9

Item 6 - Exhibits and Reports on Form 8-K                                 9



<PAGE>
<TABLE>
                             PS PARTNERS VIII, LTD.,
                        a California Limited Partnership
                            CONDENSED BALANCE SHEETS

<CAPTION>


                                                                              September 30,           December 31,
                                                                                   1996                  1995
                                                                            -------------------    ------------------
                                                                               (Unaudited)
                                     ASSETS


<S>                                                                            <C>                    <C>           
Cash and cash equivalents                                                      $       282,000        $      217,000
                                                                                              
Rent and other receivables                                                              12,000                 9,000

Real estate facilities, at cost:
     Land                                                                            7,461,000             7,461,000
     Buildings and equipment                                                        16,331,000            16,213,000
                                                                            -------------------    ------------------
                                                                                    23,792,000            23,674,000

     Less accumulated depreciation                                                  (6,105,000)           (5,501,000)
                                                                            -------------------    ------------------
                                                                                    17,687,000            18,173,000
                                                                                             
Other assets                                                                            36,000                27,000
                                                                            -------------------    ------------------
                                                                                $   18,017,000         $  18,426,000
                                                                            ===================    ==================



                        LIABILITIES AND PARTNERS' EQUITY

Accounts payable                                                               $       333,000       $       324,000

Advance payments from renters                                                          113,000               112,000
                             
Partners' equity:
     Limited partners' equity,
          $500 per unit, 150,000 units authorized,
          52,751 issued and outstanding                                             17,361,000            17,776,000
     General partners' equity                                                          210,000               214,000
                                                                            -------------------    ------------------

          Total partners' equity                                                    17,571,000            17,990,000
                                                                            -------------------    ------------------
                                                                                $   18,017,000         $  18,426,000
                                                                            ===================    ==================


</TABLE>
                             See accompanying notes.          
                                       2

<PAGE>
<TABLE>

                             PS PARTNERS VIII, LTD.,
                        a California Limited Partnership
                         CONDENSED STATEMENTS OF INCOME
                                   (UNAUDITED)
<CAPTION>



                                                              Three Months Ended                   Nine Months Ended
                                                                September 30,                        September 30,
                                                       --------------------------------- --------------------------------------
                                                            1996              1995              1996               1995
                                                       ----------------  --------------- ------------------- ------------------

        REVENUE:

<S>                                                         <C>              <C>            <C>                 <C>           
        Rental income                                       $  729,000       $  704,000     $     2,153,000     $    2,092,000
        Interest income                                          4,000           12,000              11,000             40,000
                                                       ----------------  --------------- ------------------- ------------------
                                                               733,000          716,000           2,164,000          2,132,000
                                                       ----------------  --------------- ------------------- ------------------

        COSTS AND EXPENSES:

        Cost of operations                                     191,000          189,000             593,000            580,000
        Management fees                                         42,000           41,000             125,000            122,000
        Depreciation and amortization                          204,000          193,000             604,000            562,000
        Administrative                                          24,000           19,000              60,000             58,000
                                                       ----------------  --------------- ------------------- ------------------
                                                               461,000          442,000           1,382,000          1,322,000
                                                       ----------------  --------------- ------------------- ------------------

        NET INCOME                                          $  272,000       $  274,000     $       782,000    $       810,000
                                                       ================  =============== =================== ==================

        Limited partners' share of net income
             ($12.42 per unit in 1996 and $11.83
             per unit in 1995)                                                              $       655,000    $       624,000
        General partners' share of net income                                                       127,000            186,000
                                                                                         ------------------  ------------------
                                                                                            $       782,000    $       810,000
                                                                                         =================== ==================

</TABLE>

                             See accompanying notes.          
                                       3

<PAGE>
<TABLE>
                             PS PARTNERS VIII, LTD.,
                        a California Limited Partnership
                       CONDENSED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)
<CAPTION>



                                                                                        Nine Months Ended
                                                                                          September 30,
                                                                              ---------------------------------------
                                                                                    1996                 1995
                                                                              ------------------   ------------------

   CASH FLOWS FROM OPERATING ACTIVITIES:

<S>                                                                                 <C>                 <C>         
        Net income                                                                  $   782,000         $    810,000

        Adjustments to reconcile net income to net cash
             provided by operating activities

             Depreciation and amortization                                              604,000              562,000
             (Increase) decrease in rent and other receivables                           (3,000)               4,000
             (Increase) decrease in other assets                                         (9,000)               1,000
             Increase in accounts payable                                                 9,000               35,000
             Increase (decrease) in advance payments from renters                         1,000              (12,000)
                                                                              ------------------   ------------------
                  Total adjustments                                                     602,000              590,000
                                                                              ------------------   ------------------

                  Net cash provided by operating activities                           1,384,000            1,400,000
                                                                              ------------------   ------------------

   CASH FLOWS FROM INVESTING ACTIVITIES:

        Additions to real estate facilities                                            (118,000)            (201,000)
                                                                              ------------------   ------------------

                  Net cash used in investing activities                                (118,000)            (201,000)
                                                                              ------------------   ------------------

   CASH FLOWS FROM FINANCING ACTIVITIES:

        Distributions to partners                                                    (1,201,000)          (1,800,000)
                                                                              ------------------   ------------------

                  Net cash used in financing activities                              (1,201,000)          (1,800,000)
                                                                              ------------------   ------------------

   Net increase (decrease) in cash and cash equivalents                                  65,000             (601,000)

   Cash and cash equivalents at the beginning of the period                             217,000              888,000
                                                                              ------------------   ------------------

   Cash and cash equivalents at the end of the period                               $   282,000          $   287,000
                                                                              ==================   ==================
</TABLE>

                             See accompanying notes.          
                                       4

<PAGE>
                             PS PARTNERS VIII, LTD.,
                        a California Limited Partnership
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                               SEPTEMBER 30, 1996
                                   (UNAUDITED)


1.   The  accompanying   unaudited  condensed  financial  statements  have  been
     prepared  pursuant  to the  rules and  regulations  of the  Securities  and
     Exchange Commission.  Certain information and footnote disclosures normally
     included in financial  statements  prepared in  accordance  with  generally
     accepted  accounting  principles have been condensed or omitted pursuant to
     such  rules  and  regulations,   although   management  believes  that  the
     disclosures contained herein are adequate to make the information presented
     not misleading.  These unaudited condensed  financial  statements should be
     read in  conjunction  with  the  financial  statements  and  related  notes
     appearing in the  Partnership's  Form 10-K for the year ended  December 31,
     1995.

2.   In  the  opinion  of  management,   the  accompanying  unaudited  condensed
     financial  statements  reflect all  adjustments,  consisting of only normal
     accruals,  necessary to present fairly the Partnership's financial position
     at September  30, 1996,  the results of  operations  for the three and nine
     months ended September 30, 1996 and 1995 and cash flows for the nine months
     then ended.

3.   The results of operations for the three and nine months ended September 30,
     1996 are not  necessarily  indicative of the results to be expected for the
     full year.


                                       5
<PAGE>
                             PS PARTNERS VIII, LTD.,
                        a California Limited Partnership
                      MANAGEMENT'S DISCUSSION AND ANALYSIS
                OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS


Results of Operations:
----------------------

THREE MONTHS ENDED  SEPTEMBER 30, 1996 COMPARED TO THREE MONTHS ENDED  SEPTEMBER
30, 1995:

     The Partnership's net income was $272,000 and $274,000 for the three months
ended  September  30, 1996 and 1995,  respectively,  representing  a decrease of
$2,000.  This  decrease  was  primarily  due to increases  in  depreciation  and
administrative expenses,  combined with a decrease in interest income, partially
offset by improved operating results at the Partnership's facilities.

     Interest  income  decreased  for the three months ended  September 30, 1996
over the same period in 1995 as a result of a decrease in average  invested cash
balances.

     Net property  income  (rental income less cost of operations and management
fees and excluding  depreciation)  for the three months ended September 30, 1996
increased $22,000,  or 5%, as rental income increased $25,000,  or 4%, and costs
of operations  (including  management fees and excluding  depreciation  expense)
increased $3,000, or 1%, compared to the same period in 1995. These improvements
are due to improved operations at the Partnership's  mini-warehouse and business
park facilities.

     Rental income for the Partnership's  mini-warehouse operations was $606,000
compared to $575,000  for the three months  ended  September  30, 1996 and 1995,
respectively,  representing  an increase of $31,000,  or 5%. This  increase  was
primarily  attributable to increased rental rates and average  occupancy levels.
The  monthly  average  realized  rent per  square  foot  for the  mini-warehouse
facilities  was $.75  compared to $.73 for the three months ended  September 30,
1996 and  1995,  respectively.  The  weighted  average  occupancy  levels at the
mini-warehouse  facilities were 92% and 90% for the three months ended September
30, 1996 and 1995, respectively.  Cost of operations (including management fees)
for the mini-warehouses  increased $11,000, or 6%, to $190,000 from $179,000 for
the three months ended September 30, 1996 and 1995, respectively.  This increase
was  primarily   attributable  to  increases  in  advertising  and  repairs  and
maintenance  expenses.   Accordingly,   for  the  Partnership's   mini-warehouse
operations,  property  net  operating  income  increased  $20,000,  or 5%,  from
$396,000 to $416,000  for the three months  ended  September  30, 1995 and 1996,
respectively.

     Rental  income for the  Partnership's  business park  operations  decreased
$6,000,  or 5%, to $123,000 from  $129,000 for the three months ended  September
30, 1996 and 1995,  respectively.  This decrease was primarily attributable to a
decrease in rental rates,  partially offset by an increase in average occupancy.
The monthly average realized rent per square foot for the business park facility
was $.59  compared to $.61 for the three  months  ended  September  30, 1996 and
1995,  respectively.  The weighted average occupancy levels at the business park
facilities  were 93% compared to 92% for the three months  ended  September  30,
1996 and 1995, respectively.  Cost of operations (including management fees) for
the business  parks  decreased  $8,000,  or 16%, to $43,000 from $51,000 for the
three months ended September 30, 1996 and 1995, respectively.  This decrease was
primarily  attributable to a decrease in property tax expense,  partially offset
by an  increase  in  repairs  and  maintenance  expense.  Accordingly,  for  the
Partnership's business park facilities,  property net operating income increased
$2,000,  or 3%, to $80,000 from $78,000 for the three months ended September 30,
1996 and 1995, respectively.

     Depreciation and amortization  expense  increased $11,000 from $193,000 for
the three  months  ended  September  30, 1995 to $204,000 for the same period in
1996.  This increase is due to the  depreciation  of capital  expenditures  made
during 1995 and 1996.

     Administrative  expenses  increased  $5,000 from $19,000 to $24,000 for the
three months ended September 30, 1996 and 1995,  respectively.  This increase is
primarily a result of an increase in accounting fees.
 

                                      6
<PAGE>
                             PS PARTNERS VIII, LTD.,
                        a California Limited Partnership
                      MANAGEMENT'S DISCUSSION AND ANALYSIS
                OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

NINE MONTHS ENDED SEPTEMBER 30, 1996 COMPARED TO NINE MONTHS ENDED SEPTEMBER 30,
1995:

     The  Partnership's net income was $782,000 and $810,000 for the nine months
ended  September  30, 1996 and 1995,  respectively,  representing  a decrease of
$28,000,  or 3%. This decrease was primarily due to an increase in  depreciation
expense,  combined  with a decrease  in  interest  income,  partially  offset by
improved operating results at the Partnership's facilities.

     Interest income decreased for the nine months ended September 30, 1996 over
the same  period in 1995 as a result of a  decrease  in  average  invested  cash
balances.

     Net property  income  (rental income less cost of operations and management
fees and excluding  depreciation)  for the nine months ended  September 30, 1996
increased $45,000,  or 3%, as rental income increased $61,000,  or 3%, and costs
of operations  (including  management fees and excluding  depreciation  expense)
increased $16,000, or 2%, compared to the same period in 1995.

     Rental  income  for  the   Partnership's   mini-warehouse   operations  was
$1,769,000  compared to $1,697,000 for the nine months ended  September 30, 1996
and 1995,  respectively,  representing  an  increase  of  $72,000,  or 4%.  This
increase  was  primarily  attributable  to  increased  rental  rates and average
occupancy.   The  weighted  average  occupancy  levels  at  the   mini-warehouse
facilities  were 90% and 89% for the nine months  ended  September  30, 1996 and
1995,  respectively.  The monthly average  realized rent per square foot for the
mini-warehouse  facilities  was $.75  compared to $.72 for the nine months ended
September  30,  1996 and  1995,  respectively.  Costs of  operations  (including
management fees) for the  mini-warehouses  increased $31,000, or 6%, to $571,000
from  $540,000  for  the  nine  months  ended   September  30,  1996  and  1995,
respectively.  This increase was primarily  attributable to increases in repairs
and   maintenance,   property  tax,   advertising,   and  management   expenses.
Accordingly,  for the  Partnership's  mini-warehouse  operations,  property  net
operating income increased $41,000, or 4%, from $1,157,000 to $1,198,000 for the
nine months ended September 30, 1995 and 1996, respectively.

     Rental  income for the  Partnership's  business park  operations  decreased
$11,000,  or 3%, to $384,000 from  $395,000 for the nine months ended  September
30, 1996 and 1995,  respectively.  This decrease was primarily  attributable  to
decreased rental rates,  partially  offset by an increase in average  occupancy.
The  monthly  average  realized  rent  per  square  foot for the  business  park
facilities  was $.59  compared to $.63 for the nine months ended  September  30,
1996 and  1995,  respectively.  The  weighted  average  occupancy  levels at the
business  park  facilities  were 95%  compared to 94% for the nine months  ended
September  30,  1996  and  1995,  respectively.  Cost of  operations  (including
management  fees) for the business parks decreased  $15,000,  or 9%, to $147,000
from  $162,000  for  the  nine  months  ended   September  30,  1996  and  1995,
respectively. This decrease was primarily attributable to a decrease in property
tax  expense.  Accordingly,  for the  Partnership's  business  park  facilities,
property  net  operating  income  increased by $4,000,  or 2%, from  $233,000 to
$237,000 for the nine months ended September 30, 1995 and 1996, respectively.

     Depreciation and amortization  expense  increased $42,000 from $562,000 for
the nine months  ended  September  30,  1995 to $604,000  for the same period in
1996. This increase is primarily due to the depreciation of capital expenditures
made during 1995 and 1996.

Liquidity and Capital Resources
-------------------------------

     The  Partnership  has adequate  sources of cash to finance its  operations,
both on a short-term and long-term  basis,  primarily from internally  generated
cash from property operations and cash reserves.  Cash generated from operations
 

                                      7
<PAGE>
                             PS PARTNERS VIII, LTD.,
                        a California Limited Partnership
                      MANAGEMENT'S DISCUSSION AND ANALYSIS
                OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS


($1,384,000 for the nine months ended September 30, 1996) has been sufficient to
meet all current obligations of the Partnership.

     During 1996, the Partnership anticipates  approximately $249,000 of capital
improvements. Total capital improvements were $118,000 for the nine months ended
September 30, 1996.

     The  Partnership  paid  distributions  to the limited and general  partners
totaling  $1,070,000  ($20.28 per unit) and $131,000,  respectively,  during the
first nine months of 1996. Future  distribution  rates may be adjusted to levels
which are supported by operating  cash flow after capital  improvements  and any
other necessary obligations.

                                       8
<PAGE>
                           PART II. OTHER INFORMATION

ITEMS 1 through 4 are not applicable.

Item 5   Other Information
         -----------------

     In August 1996,  PSI completed a cash tender offer,  which had commenced in
July 1996,  pursuant to which PSI acquired a total of 6,537 limited  partnership
units in the Partnership at $320 per unit.

Item 6   Exhibits  and  Reports  on Form 8-K 
         -----------------------------------

         (a) The  following  Exhibits  are included herein:

             (27) Financial Data Schedule

         (b)  Form 8-K

              None



                                   SIGNATURES

     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.

                           DATED:   November 12, 1996

                                    PS PARTNERS VIII, LTD.,
                                    a California  limited Partnership

                           BY:      Public Storage, Inc.
                                    General Partner

                           BY:        /s/ Ronald L. Havner Jr.
                                    --------------------------------------
                                    Ronald L. Havner, Jr.
                                    Senior Vice President and Chief Financial
                                      Officer of Public Storage, Inc.
                                      (principal financial officer)

                           BY:        /s/ John Reyes
                                    --------------------------------------
                                    John Reyes
                                    Vice President and Controller
                                      of Public Storage, Inc.
                                      (principal accounting officer)



                                       9