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 March 31, 1997

                                       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 March 31, 1997
          and December 31, 1996                                       2

     Condensed statements of income for the three
          months ended March 31, 1997 and 1996                        3

     Condensed statements of cash flows for the three
          months ended March 31, 1997 and 1996                        4-5

     Notes to condensed financial statements                          6

     Management's discussion and analysis of financial 
          condition and results of operations                         7-8

PART II.  OTHER INFORMATION

     (Items 1 through 5 are not applicable)

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



<PAGE>
<TABLE>


                             PS PARTNERS VIII, LTD.,
                        a California Limited Partnership
                            CONDENSED BALANCE SHEETS


<CAPTION>
                                                                                     March 31,      December 31,
                                                                                       1997             1996
                                                                                  ---------------------------------
                                                                                    (Unaudited)
                                     ASSETS


   <S>                                                                               <C>             <C>     
   Cash and cash equivalents                                                         $   184,000     $   209,000

   Rent and other receivables                                                             28,000          10,000

   Real estate facilities, at cost:
      Land                                                                             4,925,000       7,461,000
      Buildings and equipment                                                         12,201,000      16,442,000
                                                                                  ---------------------------------
                                                                                      17,126,000      23,903,000

      Less accumulated depreciation                                                   (4,661,000)     (6,309,000)
                                                                                  ---------------------------------
                                                                                      12,465,000      17,594,000

   Investment in real estate entity                                                    5,061,000               -

   Other assets                                                                           27,000          45,000
                                                                                  ---------------------------------

                                                                                     $17,765,000     $17,858,000
                                                                                  =================================



                        LIABILITIES AND PARTNERS' EQUITY

   Accounts payable                                                                     $246,000        $259,000

   Advance payments from renters                                                         124,000         110,000

   Partners' equity:
      Limited partners' equity,
         $500 per unit, 150,000 units authorized,
         52,751 issued and outstanding                                                17,187,000      17,279,000
      General partners' equity                                                           208,000         210,000
                                                                                  ---------------------------------

         Total partners' equity                                                       17,395,000      17,489,000
                                                                                  ---------------------------------

                                                                                     $17,765,000     $17,858,000
                                                                                  =================================
</TABLE>
                            See accompanying notes.
                                       2


<PAGE>
<TABLE>


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

<CAPTION>
                                                                                               Three Months Ended
                                                                                                    March 31,
                                                                                       ------------------------------------
                                                                                              1997              1996
                                                                                       ------------------------------------

          REVENUE:

          <S>                                                                                <C>                <C>      
          Rental income                                                                      $ 621,000          $ 697,000
          Equity in income of real estate entity                                                43,000                  -
          Interest income                                                                        3,000              3,000
                                                                                       ------------------------------------
                                                                                               667,000            700,000
                                                                                       ------------------------------------

          COSTS AND EXPENSES:

          Cost of operations                                                                   172,000            203,000
          Management fees                                                                       37,000             41,000
          Depreciation and amortization                                                        139,000            199,000
          Administrative                                                                        13,000             13,000
                                                                                       ------------------------------------
                                                                                               361,000            456,000
                                                                                       ------------------------------------

          NET INCOME                                                                         $ 306,000          $ 244,000
                                                                                       ====================================

          Limited partners' share of net income
             ($4.99 per unit in 1997 and $3.81
             per unit in 1996)                                                               $ 263,000          $ 201,000
          General partners' share of net income                                                 43,000             43,000
                                                                                       ------------------------------------
                                                                                             $ 306,000          $ 244,000
                                                                                       ====================================
</TABLE>
                            See accompanying notes.
                                       3


<PAGE>
<TABLE>


                             PS PARTNERS VIII, LTD.,
                        a California Limited Partnership
                       CONDENSED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)

<CAPTION>


                                                                                               Three Months Ended
                                                                                                    March 31,
                                                                                       ------------------------------------
                                                                                              1997              1996
                                                                                       ------------------------------------

          Cash flows from operating activities:

             <S>                                                                              <C>                <C>     
             Net income                                                                       $306,000           $244,000

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

                 Depreciation and amortization                                                 139,000            199,000
                 (Increase) decrease in rent and other receivables                             (18,000)             3,000
                 Decrease (increase) in other assets                                            18,000             (1,000)
                 (Decrease) increase in accounts payable                                       (13,000)            29,000
                 Increase in advance payments from renters                                      14,000             11,000
                 Equity in income of real estate entity                                        (43,000)                 -
                                                                                       ------------------------------------

                   Total adjustments                                                            97,000            241,000
                                                                                       ------------------------------------

                   Net cash provided by operating activities                                   403,000            485,000
                                                                                       ------------------------------------

          Cash flows from investing activities:

             Investment in real estate entity                                                   (2,000)                 -
             Additions to real estate facilities                                               (26,000)            (7,000)
                                                                                       ------------------------------------

                   Net cash used in investing activities                                       (28,000)            (7,000)
                                                                                       ------------------------------------

          Cash flows from financing activities:

               Distributions to partners                                                      (400,000)          (400,000)
                                                                                       ------------------------------------

                   Net cash used in financing activities                                      (400,000)          (400,000)
                                                                                       ------------------------------------

          Net (decrease) increase in cash and cash equivalents                                 (25,000)            78,000

          Cash and cash equivalents at the beginning of the period                             209,000            217,000
                                                                                       ------------------------------------

          Cash and cash equivalents at the end of the period                                  $184,000           $295,000
                                                                                       ====================================

</TABLE>
                           See accompanying notes.
                                        4



<PAGE>
<TABLE>


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


                                                                                               Three Months Ended
                                                                                                    March 31,
                                                                                       ------------------------------------
                                                                                              1997              1996
                                                                                       ------------------------------------


          Supplemental schedule of noncash investing and financing activities:


             <S>                                                                          <C>                         <C>
             Investment in real estate entity                                             $ (5,016,000)               $ -

             Transfer of real estate facilities for interest in real estate entity           5,016,000                  -

 
</TABLE>
                            See accompanying notes.
                                       5


<PAGE>




                             PS PARTNERS VIII, LTD.,
                        a California Limited Partnership
                     NOTES TO CONDENSED FINANCIAL STATEMENTS
                                 MARCH 31, 1997
                                   (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,
     1996.

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 March 31,  1997,  the results of  operations  for the three months ended
     March 31, 1997 and 1996 and cash flows for the three months then ended.

3.   The results of operations for the three months ended March 31, 1997 are not
     necessarily indicative of the results to be expected for the full year.

4.   Effective  January 2, 1997,  Public Storage,  Inc.(PSI),  the Partnership's
     general  partner,  formed a new private real estate  investment trust named
     American  Office  Park  Properties,  Inc.  ("AOPP")  which  will  focus its
     investment efforts on the ownership and management of commerical properties
     (also  referred to as business park  facilities).  In  connection  with the
     formation of AOPP, PSI and affiliated  partnerships  transferred commercial
     properties to a newly created  partnership  underlying AOPP in exchange for
     limited  partnership   interests  (AOPP  and  the  underlying   partnership
     collectivley  referred to as the "New REIT"). The Partnership  participated
     in the initial  transaction  by  exchanging  its  commercial  property  for
     165,000 limited partnership units, which represented  approximately 2.5% of
     the initial capitalization of the partnership underlying AOPP.

     The number of limited  partnership  units received by the  Partnership  was
     based on the  relative  fair market value of the  Partnership's  commercial
     property  exchanged  compared  to the  aggregate  of all other real  estate
     assets   exchanged  for  limited   partnership   units  in  the  underlying
     partnership.  The Partnership's  limited partnership units, pursuant to the
     terms and  conditions  of the governing  documents,  are  convertible  into
     shares of common stock of AOPP.

     The  general  partners  believe  that  the   concentration  of  PSI's,  the
     Partnership's and affiliate entities'  commercial  properties into a single
     entity will create a vehicle which should  facilitate future growth in this
     segment  of  the  real  estate  industry.  PSI,  the  Partnership  and  the
     affiliates transferring real estate assets to the New REIT will participate
     in the growth through their ownership interests in the New REIT.

     The  Partnership  accounts  for its  investment  in the New REIT  using the
     equity method of accounting; accordingly, equity in earnings of real estate
     entity, as reflected on the Partnership's statement of income for the three
     months ended March 31, 1997,  reflects the  Partnership's pro rata share of
     the earnings of the New REIT. The investment was initially  recorded at the
     Partnership's  net  book  value  of  its  property  exchanged  for  limited
     partnership  units.  The  investment  is  subsequently   adjusted  for  the
     Partnership's  pro  rata  share  of  income  and  distributions   from  the
     underlying partnership of the New REIT.


                                       6



<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 MARCH 31, 1997 COMPARED TO THREE MONTHS ENDED MARCH 31, 1996:

     The  Partnership's net income for the three months ended March 31, 1997 was
$306,000  compared to  $244,000  for the same  period in 1996,  representing  an
increase of $62,000, or 25%. Excluding the 1996 operations for the Partnership's
business park facility, the increase is primarily attributable to an increase in
the Partnership's mini-warehouse operations.

     Rental income for the Partnership's  mini-warehouse operations was $621,000
compared  to  $568,000  for the three  months  ended  March  31,  1997 and 1996,
respectively, representing an increase of $53,000, or 9%. The increase in rental
income  was   primarily   attributable   to   increased   rental  rates  at  the
mini-warehouse facilities, combined with increased occupancy levels. The monthly
average realized rent per square foot for the mini-warehouse facilities was $.79
compared  to  $.74  for  the  three  months  ended  March  31,  1997  and  1996,
respectively.  The  weighted  average  occupancy  levels  at the  mini-warehouse
facilities  increased  from 88% to 90% for the three months ended March 31, 1996
and 1997, respectively. Cost of operations (including management fees) increased
$17,000,  or 9%, to $209,000  from $192,000 for the three months ended March 31,
1997 and  1996,  respectively.  This  increase  was  primarily  attributable  to
increases  in  property  tax  and  advertising  expenses.  Accordingly,  for the
Partnership's mini-warehouse operations, property net operating income increased
$36,000,  or 10%, from $376,000 to $412,000 for the three months ended March 31,
1996 and 1997, respectively.

     Effective January 2, 1997, Public Storage,  Inc. ("PSI"), the Partnership's
general  partner,  formed a new  private  real  estate  investment  trust  named
American Office Park Properties,  Inc.  ("AOPP") which will focus its investment
efforts on the ownership and management of commercial properties.  In connection
with  the  formation  of  AOPP,  PSI  and  affiliated  partnerships  transferred
commercial properties to a newly created partnership underlying AOPP in exchange
for  limited  partnership   interests  (AOPP  and  the  underlying   partnership
collectivley referred to as the "New REIT"). The Partnership participated in the
initial  transaction by exchanging its commercial  property for 165,000  limited
partnership  units,   which  represented   approximately  2.5%  of  the  initial
capitalization of the partnership underlying AOPP.

     The  Partnership  accounts  for its  investment  in the New REIT  using the
equity method of accounting.  The following table  summarizes the  Partnership's
equity in  earnings  from its  investment  in the New REIT for the three  months
ended March 31, 1997 compared to the  operation of the  exchanged  business park
facility for the three months ended March 31, 1996:

<TABLE>
<CAPTION>

                                                            Three Months Ended March 31,
                                                        ------------------------------------
                                                            1997                  1996
                                                        ------------------ -----------------
     <S>                                                    <C>                   <C>
     Equity in earnings of real estate entity               $ 43,000               $
     Rental income                                                 -               129,000
     Cost of operations                                            -                52,000
                                                           ---------            ----------
     Net operating income                                     43,000                77,000
     Depreciation                                                  -                66,000
                                                           ---------            ----------
                                                            $ 43,000              $ 11,000
                                                           =========            ==========
</TABLE>

                                       7

<PAGE>



     Depreciation   and   amortization   attributable   to   the   Partnership's
mini-warehouse  facilities  increased  $6,000 from  $133,000 to $139,000 for the
three  months  ended March 31, 1996 and 1997,  respectively.  This  increase was
primarily  attributable 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
($403,000 for the three months ended March 31, 1997) has been sufficient to meet
all current obligations of the Partnership.

     During 1997, the Partnership anticipates  approximately $120,000 of capital
improvements. Total capital improvements were $26,000 for the three months ended
March 31, 1997.

     The  Partnership  paid  distributions  to the limited and general  partners
totaling $356,000 ($6.76 per unit) and $44,000,  respectively,  during the first
three months of 1997. 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 5 are not applicable.

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:           May 13, 1997
                                 PS PARTNERS VIII, LTD.,
                                 a California Limited Partnership
                BY:              Public Storage, Inc.
                                 General Partner

                BY:              /s/ John Reyes
                                 ---------------------------------------------
                                 Senior Vice President and Chief Financial
                                   Officer of Public Storage, Inc.
                                   (principal financial and accounting officer)


                                       9