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

                                   Form 10-QSB

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

              For the quarterly period ended September 30, 2004


[ ]   TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT


             For the transition period from _________to _________

                         Commission file number 0-15675


                           DAVIDSON GROWTH PLUS, L.P.
        (Exact name of small business issuer as specified in its charter)



         Delaware                                           52-1462866
(State or other jurisdiction of                          (I.R.S. Employer
 incorporation or organization)                         Identification No.)

                          55 Beattie Place, PO Box 1089
                        Greenville, South Carolina 29602
                    (Address of principal executive offices)

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

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

                         PART I - FINANCIAL INFORMATION

ITEM 1.     FINANCIAL STATEMENTS



                           DAVIDSON GROWTH PLUS, L.P.

                           CONSOLIDATED BALANCE SHEET
                                   (Unaudited)
                        (in thousands, except unit data)

                               September 30, 2004

<TABLE>
<CAPTION>


Assets
<S>                                                                          <C>
   Cash and cash equivalents                                                 $ 212
   Receivables and deposits                                                     168
   Restricted escrows                                                           215
   Other assets                                                                 839
   Investment properties:
       Land                                                  $ 4,650
       Buildings and related personal property                 22,762
                                                               27,412
       Less accumulated depreciation                          (15,654)       11,758
                                                                           $ 13,192
Liabilities and Partners' Deficit
Liabilities
   Accounts payable                                                          $ 136
   Tenant security deposit liabilities                                           92
   Accrued property taxes                                                       236
   Other liabilities                                                            317
   Due to affiliates (Note B)                                                   477
   Mortgage notes payable                                                    19,324

Partners' Deficit
   General partners                                          $ (1,039)
   Limited partners (28,371.75 units issued and
      outstanding)                                             (6,351)       (7,390)
                                                                           $ 13,192

         See Accompanying Notes to Consolidated Financial Statements
</TABLE>



<PAGE>




                           DAVIDSON GROWTH PLUS, L.P.

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
                      (in thousands, except per unit data)

<TABLE>
<CAPTION>

                                             Three Months               Nine Months
                                         Ended September 30,       Ended September 30,
                                          2004         2003          2004        2003

Revenues:
<S>                                     <C>           <C>          <C>          <C>
  Rental income                         $ 1,184       $ 1,210      $ 3,396      $ 3,723
  Other income                              132           156          384          415
      Total revenues                      1,316         1,366        3,780        4,138

Expenses:
  Operating                                 613           540        1,645        1,540
  General and administrative                 48            54          160          171
  Depreciation                              266           262          807          793
  Interest                                  363           369        1,094        1,118
  Property taxes                            136           134          432          430
      Total expenses                      1,426         1,359        4,138        4,052

Operating (loss) income                    (110)            7         (358)          86
Distributions to minority
  interest partner in excess
  of investment (Note C)                     --            (9)          --          (33)
Net (loss) income                        $ (110)       $ (2)        $ (358)      $ 53

Net (loss) income allocated to
  general partners (3%)                   $ (3)        $ --         $ (11)        $ 2
Net (loss) income allocated to
  limited partners (97%)                    (107)          (2)        (347)          51

                                         $ (110)       $ (2)        $ (358)      $ 53

Net (loss) income per limited
  partnership unit                      $ (3.77)      $ (0.07)     $(12.23)     $ 1.80

Distributions per limited
  partnership unit                        $ --        $ 6.73         $ --       $ 9.41


         See Accompanying Notes to Consolidated Financial Statements
</TABLE>

<PAGE>




                           DAVIDSON GROWTH PLUS, L.P.

            CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' DEFICIT
                                   (Unaudited)
                        (in thousands, except unit data)

<TABLE>
<CAPTION>


                                     Limited
                                   Partnership    General      Limited
                                      Units      Partners     Partners       Total

<S>                                 <C>             <C>        <C>          <C>
Original capital contributions      28,371.75       $ 1        $28,376      $28,377

Partners' deficit at
   December 31, 2003                28,371.75     $(1,028)     $(6,004)     $(7,032)


Net loss for the nine months
   ended September 30, 2004                --         (11)        (347)        (358)

Partners' deficit at
   September 30, 2004               28,371.75     $(1,039)     $(6,351)      $(7,390)


         See Accompanying Notes to Consolidated Financial Statements
</TABLE>


                           DAVIDSON GROWTH PLUS, L.P.

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                 (in thousands)
<TABLE>
<CAPTION>

                                                                   Nine Months Ended
                                                                     September 30,
                                                                       2004      2003
Cash flows from operating activities:
<S>                                                                <C>           <C>
  Net (loss) income                                                $ (358)       $ 53
  Adjustments to reconcile net (loss) income to net cash
   provided by operating activities:
     Depreciation                                                     807          793
     Distributions to minority interest partner in excess of
      investment                                                       --           33
     Amortization of loan costs                                        32           34
     Change in accounts:
      Receivables and deposits                                        (19)         (80)
      Other assets                                                   (100)        (113)
      Accounts payable                                                (33)          (3)
      Tenant security deposit liabilities                              (6)          15
      Accrued property taxes                                          (23)         154
      Other liabilities                                                19          103
      Due to affiliates                                                89           --
         Net cash provided by operating activities                    408          989

Cash flows from investing activities:
  Property improvements and replacements                             (352)        (335)
  Net (deposits to) withdrawals from restricted escrows               (42)          60
         Net cash used in investing activities                       (394)        (275)

Cash flows from financing activities:
  Payments on mortgage notes payable                                 (421)        (392)
  Loan costs refunded                                                  --           10
  Advances from affiliate                                             344          120
  Repayment of advances from affiliate                                 --         (120)
  Distributions to partners                                            --         (275)
  Distributions to minority interest partner                           --          (33)
         Net cash used in financing activities                        (77)        (690)

Net (decrease) increase in cash and cash equivalents                  (63)          24
Cash and cash equivalents at beginning of period                      275          359
Cash and cash equivalents at end of period                         $ 212        $ 383

Supplemental disclosure of cash flow information:
  Cash paid for interest                                          $ 1,057      $ 1,087

At September 30, 2004,  property  improvements and replacements of approximately
$84,000 were included in accounts payable.

         See Accompanying Notes to Consolidated Financial Statements
</TABLE>
                           DAVIDSON GROWTH PLUS, L.P.

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)
Note A - Basis of Presentation

The accompanying  unaudited consolidated financial statements of Davidson Growth
Plus, L.P. (the  "Partnership" or "Registrant") have been prepared in accordance
with generally accepted accounting  principles for interim financial information
and with the  instructions  to Form  10-QSB and Item 310(b) of  Regulation  S-B.
Accordingly,  they do not include all of the information and footnotes  required
by generally accepted accounting  principles for complete financial  statements.
In the opinion of Davidson  Growth Plus GP Corporation  (the  "Managing  General
Partner"),  all adjustments (consisting of normal recurring accruals) considered
necessary for a fair presentation have been included.  Operating results for the
three and nine months ended September 30, 2004, are not  necessarily  indicative
of the results  that may be expected  for the fiscal  year ending  December  31,
2004. For further  information,  refer to the consolidated  financial statements
and footnotes thereto included in the Partnership's Annual Report on Form 10-KSB
for the fiscal year ended December 31, 2003. The Managing  General Partner is an
affiliate of Apartment  Investment and Management Company ("AIMCO"),  a publicly
traded real estate investment trust.

Note B - Transactions with Affiliated Parties

The Partnership has no employees and depends on the Managing General Partner and
its  affiliates  for  the  management  and  administration  of  all  Partnership
activities.   Affiliates  of  the  Managing  General  Partner  provide  property
management and asset  management  services to the  Partnership.  The Partnership
Agreement  provides  for (i)  payments  to  affiliates  for  services  and  (ii)
reimbursement  of  certain  expenses  incurred  by  affiliates  on behalf of the
Partnership.

Affiliates of the Managing  General  Partner are entitled to receive 5% of gross
receipts from all of the Partnership's  properties as compensation for providing
property   management   services.   The  Partnership  paid  to  such  affiliates
approximately $185,000 and $206,000 for the nine months ended September 30, 2004
and 2003, respectively, which is included in operating expenses.

An  affiliate  of  the  Managing   General  Partner  charged   reimbursement  of
accountable  administrative  expenses  amounting to  approximately  $114,000 and
$106,000 for the nine months ended  September  30, 2004 and 2003,  respectively,
which  is  included  in  general  and  administrative  expenses  and  investment
properties.   Included  in  these  amounts  are  fees  related  to  construction
management  services provided by an affiliate of the Managing General Partner of
approximately $2,000 and $4,000 for the nine months ended September 30, 2004 and
2003,  respectively.  The fees are calculated based on a percentage of additions
to  investment  properties.  At September  30,  2004,  the  Partnership  owed an
affiliate  of the Managing  General  Partner  approximately  $127,000 of accrued
accountable administrative expenses, which is included in due to affiliates.

The Partnership Agreement provides for the Managing General Partner to receive a
fee for managing the affairs of the Partnership.  The fee is 2% of adjusted cash
from  operations  as  defined  in the  Partnership  Agreement.  Payment  of this
management fee is  subordinated  and is payable only after the  Partnership  has
distributed to the limited  partners  adjusted cash from  operations in any year
equal to 10% of the limited partners adjusted  invested  capital,  as defined in
the  Partnership  Agreement,  or upon the refinance or sale of a property in the
Partnership. Partnership management fees were approximately $13,000 for the nine
months ended  September 30, 2003 and are included in general and  administrative
expenses.  No such fees were  earned or  accrued  during the nine  months  ended
September 30, 2004. Unpaid subordinated Partnership management fees at September
30, 2004, are approximately $44,000, which are included in other liabilities.

During the nine months ended  September 30, 2004, the Managing  General  Partner
advanced approximately $344,000 to the Partnership for real estate taxes owed by
Fairway and Brighton Crest  Apartments.  During the nine months ended  September
30, 2003, the Managing  General Partner advanced  approximately  $120,000 to the
Partnership to cover operational  expenses and these advances were repaid by the
Partnership  during the nine months ended  September  30, 2003. At September 30,
2004, the amount of outstanding  loans and interest was  approximately  $350,000
and is included in due to affiliates on the  accompanying  consolidated  balance
sheet.  Interest  on the  advances  is  accrued  at prime  plus 1%,  or 5.75% at
September 30, 2004.  Interest expense on the advances was  approximately  $6,000
and $1,000 for the nine months ended September 30, 2004 and 2003, respectively.

The  Partnership  insures its properties up to certain  limits through  coverage
provided by AIMCO which is  generally  self-insured  for a portion of losses and
liabilities  related to workers  compensation,  property  casualty  and  vehicle
liability. The Partnership insures its properties above the AIMCO limits through
insurance  policies  obtained  by  AIMCO  from  insurers  unaffiliated  with the
Managing  General  Partner.  During the nine months ended September 30, 2004 and
2003,  the  Partnership  was charged by AIMCO and its  affiliates  approximately
$76,000 and $73,000,  respectively,  for insurance  coverage and fees associated
with policy claims administration.

Note C - Minority Interest in Joint Venture

The  Partnership  owns an 82.5% general  partner  interest in the Sterling Crest
Joint Venture ("Joint Venture") which operates  Brighton Crest  Apartments.  The
Partnership  exercises  control  over the  activities  of the Joint  Venture  in
accordance  with  the  Joint  Venture  Agreement.  The  minority  partner  is an
affiliated  public  partnership.  As a result of the use of the equity method of
accounting  for the minority  partner's  investment in the joint  venture,  that
minority  interest  has been  reduced  to zero.  When the  Joint  Venture  makes
distributions  in excess  of the  minority  partner's  investment  balance,  the
Partnership,  as the  majority  partner,  records a charge equal to the minority
partner's  excess  distribution  over the  investment  balance.  The  charge  is
classified as distributions to minority interest partner in excess of investment
on the accompanying consolidated statements of operations.  Losses are allocated
to the minority partner to the extent they do not create a minority deficit,  in
which case the Partnership  recognizes  100% of the losses in operating  income.
The Partnership will recognize 100% of future net income of the Joint Venture to
the extent of previously unallocated losses and distributions.  Distributions to
the  minority  partner have reduced its  investment  balance to zero.  The Joint
Venture  had a net loss of  approximately  $160,000  for the nine  months  ended
September 30, 2004 and net income of  approximately  $19,000 for the nine months
ended  September 30, 2003.  The minority  partner's  share of net losses for the
nine months ended September 30, 2004 was  approximately  $28,000.  However,  the
Partnership  recognized  100%  of the net  loss  due to the  minority  partner's
investment balance being reduced to zero in 2002. No income was allocated to the
minority  partner for the nine months ended  September 30, 2003 as it was offset
against previously  unrecognized  losses and distributions of the Joint Venture.
The remaining  unallocated  losses and  distributions  at September 30, 2004 are
approximately  $871,000.  During the nine months ended  September 30, 2003,  the
Joint Venture distributed  approximately $33,000 to the minority partner.  There
were no distributions during the nine months ended September 30, 2004.

Note D - Casualty

In August  2004,  the  Partnership's  investment  property  located in  Brandon,
Florida,  The Village  Apartments,  sustained damage from Hurricane Frances.  At
September 30, 2004, the damage is estimated to be approximately $121,000,  which
will be  partially  covered by  insurance  proceeds.  The  Partnership  does not
anticipate  that it will  recognize a loss related to this casualty  because the
net book  value of the  damaged  assets  is less  than  the  expected  insurance
proceeds. In addition, Hurricane Ivan impacted Brigton Crest Apartments, located
in Marietta,  Georgia,  although the property did not sustain any damage. During
the nine months ended September 30, 2004, the Partnership accrued  approximately
$19,000 for clean up costs  related to the storms at The  Village  and  Brighton
Crest Apartments.

Note E - Contingencies

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial Group, Inc., et al. (the "Nuanes action") in the Superior Court of the
State of  California  for the  County  of San  Mateo.  The  plaintiffs  named as
defendants,  among others,  the  Partnership,  its Managing  General Partner and
several of their  affiliated  partnerships  and corporate  entities.  The action
purported  to  assert  claims  on  behalf  of a class of  limited  partners  and
derivatively  on behalf  of a number  of  limited  partnerships  (including  the
Partnership)  that are named as nominal  defendants,  challenging,  among  other
things,  the  acquisition  of  interests  in certain  Managing  General  Partner
entities by Insignia Financial Group, Inc.  ("Insignia") and entities that were,
at one  time,  affiliates  of  Insignia;  past  tender  offers  by the  Insignia
affiliates to acquire limited partnership units;  management of the partnerships
by the  Insignia  affiliates;  and the series of  transactions  which  closed on
October 1, 1998 and February 26, 1999 whereby  Insignia and Insignia  Properties
Trust,  respectively,  were merged into AIMCO.  The plaintiffs  sought  monetary
damages and equitable relief, including judicial dissolution of the Partnership.
In addition,  during the third quarter of 2001, a complaint  captioned Heller v.
Insignia  Financial  Group (the  "Heller  action")  was filed  against  the same
defendants  that are named in the  Nuanes  action.  On or about  August 6, 2001,
plaintiffs filed a first amended  complaint.  The Heller action was brought as a
purported derivative action, and asserted claims for, among other things, breach
of fiduciary  duty,  unfair  competition,  conversion,  unjust  enrichment,  and
judicial dissolution.

On January 8, 2003,  the parties filed a  Stipulation  of Settlement in proposed
settlement of the Nuanes action and the Heller action.

In general  terms,  the  proposed  settlement  provides  for  certification  for
settlement  purposes of a settlement class consisting of all limited partners in
this  Partnership and others (the  "Partnerships")  as of December 20, 2002, the
dismissal  with  prejudice  and  release  of claims  in the  Nuanes  and  Heller
litigation,  payment by AIMCO of $9.9  million  (which shall be  distributed  to
settlement  class  members  after  deduction of attorney fees and costs of class
counsel and certain costs of settlement) and up to $1 million toward the cost of
independent  appraisals of the  Partnerships'  properties  by a court  appointed
appraiser.  An affiliate of the Managing General Partner has also agreed to make
at least one round of tender offers to purchase all of the partnership interests
in the Partnerships within one year of final approval,  if it is granted, and to
provide  partners with the independent  appraisals at the time of these tenders.
The proposed  settlement also provided for the limitation of the allowable costs
which  the  Managing   General   Partner  or  its  affiliates  will  charge  the
Partnerships  in connection with this litigation and imposes limits on the class
counsel  fees and  costs in this  litigation.  On April  11,  2003,  notice  was
distributed  to  limited   partners   providing  the  details  of  the  proposed
settlement.

On June 13, 2003, the court granted final approval of the settlement and entered
judgment in both the Nuanes and Heller actions.  On August 12, 2003, an objector
("Objector") filed an appeal (the "Appeal") seeking to vacate and/or reverse the
order approving the settlement and entering  judgment  thereto.  On November 24,
2003,  the Objector  filed an  application  requesting  the court order AIMCO to
withdraw settlement tender offers it had commenced,  refrain from making further
offers  pending  the appeal and auction  any units  tendered  to third  parties,
contending  that the offers did not  conform  with the terms of the  settlement.
Counsel  for the  Objector  (on behalf of another  investor)  had  alternatively
requested the court take certain action  purportedly to enforce the terms of the
settlement agreement. On December 18, 2003, the court heard oral argument on the
motions  and denied them both in their  entirety.  The  Objector  filed a second
appeal challenging the court's use of a referee and its order requiring Objector
to pay those fees.

On January 28, 2004,  the  Objector  filed his opening  brief in the Appeal.  On
April 23, 2004, the Managing General Partner and its affiliates filed a response
brief in support of the settlement and the judgment thereto. The plaintiffs have
also filed a brief in support of the settlement. On June 4, 2004, Objector filed
a reply to the briefs  submitted by the Managing General Partner and Plaintiffs.
In addition both the Objector and plaintiffs filed briefs in connection with the
second  appeal.  The Court of Appeals  heard oral  argument  on both  appeals on
September 22, 2004 and took the matters under submission.

The  Managing  General  Partner  does  not  anticipate  that  any  costs  to the
Partnership, whether legal or settlement costs, associated with these cases will
be material to the Partnership's overall operations.

On August 8, 2003 AIMCO  Properties  L.P., an affiliate of the Managing  General
Partner,  was served  with a  complaint  in the United  States  District  Court,
District of Columbia alleging that AIMCO Properties L.P.  willfully violated the
Fair Labor Standards Act ("FLSA") by failing to pay maintenance workers overtime
for all  hours  worked  in  excess  of forty  per  week.  On  March 5,  2004 the
plaintiffs filed an amended complaint also naming NHP Management Company,  which
is also an affiliate of the Managing General Partner. The complaint is styled as
a Collective  Action  under the FLSA and seeks to certify  state  subclasses  in
California, Maryland, and the District of Columbia. Specifically, the plaintiffs
contend that AIMCO Properties L.P. failed to compensate  maintenance workers for
time  that they were  required  to be  "on-call".  Additionally,  the  complaint
alleges AIMCO  Properties  L.P.  failed to comply with the FLSA in  compensating
maintenance  workers  for time that they  worked in  responding  to a call while
"on-call".  The defendants have filed an answer to the amended complaint denying
the  substantive  allegations.  Some  discovery  has taken place and  settlement
negotiations  continue.  Although the outcome of any  litigation  is  uncertain,
AIMCO  Properties,  L.P. does not believe that the ultimate  outcome will have a
material  adverse  effect on its financial  condition or results of  operations.
Similarly,  the  Managing  General  Partner  does not believe  that the ultimate
outcome will have a material  adverse effect on the  Partnership's  consolidated
financial condition or results of operations.

The  Partnership  is unaware  of any other  pending  or  outstanding  litigation
matters  involving  it or its  investment  properties  that are not of a routine
nature arising in the ordinary course of business.

As  previously  disclosed,  the  Central  Regional  Office of the United  States
Securities  and  Exchange   Commission   (the  "SEC")  is  conducting  a  formal
investigation relating to certain matters.  Although the staff of the SEC is not
limited  in the  areas  that it may  investigate,  AIMCO  believes  the areas of
investigation include AIMCO's miscalculated monthly net rental income figures in
third quarter 2003,  forecasted  guidance,  accounts payable,  rent concessions,
vendor  rebates,  capitalization  of payroll and certain  other  costs,  and tax
credit  transactions.  AIMCO is cooperating  fully. AIMCO is not able to predict
when the matter  will be  resolved.  AIMCO does not  believe  that the  ultimate
outcome  will  have a  material  adverse  effect on its  consolidated  financial
condition or results of operations. Similarly, the Managing General Partner does
not believe that the ultimate outcome will have a material adverse effect on the
Partnership's consolidated financial condition or results of operations.


<PAGE>




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

The matters discussed in this report contain certain forward-looking statements,
including, without limitation, statements regarding future financial performance
and the effect of government  regulations.  Actual results may differ materially
from those described in the forward-looking statements and will be affected by a
variety of risks and factors including,  without limitation:  national and local
economic  conditions;  the terms of  governmental  regulations  that  affect the
Registrant and interpretations of those regulations; the competitive environment
in which the Registrant operates;  financing risks, including the risk that cash
flows from operations may be insufficient to meet required payments of principal
and interest;  real estate risks, including variations of real estate values and
the general  economic  climate in local markets and  competition  for tenants in
such markets;  litigation,  including  costs  associated  with  prosecuting  and
defending  claims  and  any  adverse   outcomes,   and  possible   environmental
liabilities.   Readers  should  carefully  review  the  Registrant's   financial
statements and the notes thereto,  as well as the risk factors  described in the
documents  the  Registrant  files  from  time to time  with the  Securities  and
Exchange Commission.

The Partnership's  investment  properties consist of three apartment  complexes.
The following  table sets forth the average  occupancy of the properties for the
nine months ended September 30, 2004 and 2003:

                                                   Average Occupancy
      Property                                      2004       2003

      Brighton Crest Apartments                     87%        91%
         Marietta, Georgia
      The Fairway Apartments                        83%        90%
         Plano, Texas
      The Village Apartments                        92%        96%
         Brandon, Florida

The Managing  General  Partner  attributes the decrease in occupancy at Brighton
Crest  Apartments to poor market  conditions and increased  layoffs in Marietta,
Georgia.  The Managing  General Partner  attributes the decrease in occupancy at
The Fairway  Apartments to increased  credit  standards for residents and to the
need for exterior  improvements  at the property.  The Managing  General Partner
attributes  the  decrease in  occupancy  at The Village  Apartments  to military
deployments and lost jobs in the local market area.

The  Partnership's  financial  results depend upon a number of factors including
the  ability to attract  and  maintain  tenants  at the  investment  properties,
interest  rates on mortgage  loans,  costs  incurred  to operate the  investment
properties,  general  economic  conditions  and weather.  As part of the ongoing
business plan of the  Partnership,  the Managing  General  Partner  monitors the
rental market environment of its investment properties to assess the feasibility
of increasing rents,  maintaining or increasing  occupancy levels and protecting
the Partnership  from increases in expenses.  As part of this plan, the Managing
General  Partner  attempts  to  protect  the  Partnership  from  the  burden  of
inflation-related  increases in expenses by increasing  rents and  maintaining a
high overall  occupancy  level.  However,  the Managing  General Partner may use
rental  concessions  and  rental  rate  reductions  to offset  softening  market
conditions, accordingly, there is no guarantee that the Managing General Partner
will be able to  sustain  such a plan.  Further,  a number of  factors  that are
outside the control of the  Partnership  such as the local economic  climate and
weather can adversely or positively affect the Partnership's financial results.


<PAGE>


Results of Operations

The  Partnership's  net loss for the three and nine months ended  September  30,
2004  was   approximately   $110,000  and  $358,000  compared  to  net  loss  of
approximately  $2,000 and net income of approximately  $53,000 for the three and
nine months ended September 30, 2003, respectively. The increase in net loss and
the  decrease in net income for the three and nine months  ended  September  30,
2004 is due to a decrease in total  revenues  and an increase in total  expenses
partially offset by a decrease in distributions to the minority interest partner
in excess of  investment.  Total  revenues  for both  periods  decreased  due to
decreases in rental and other income.  Rental income  decreased due to decreases
in  occupancy  at all  of the  Partnership's  investment  properties  and in the
average  rental rate at The  Fairway and  Brighton  Crest  Apartments  partially
offset by an increase in the average rental rate at The Village Apartments and a
decrease in bad debt expense at all of the investment  properties.  Other income
decreased  due to  decreases in utility  reimbursements,  late charges and lease
cancellation fees at The Fairway  Apartments  partially offset by an increase in
lease cancellation fees at Brighton Crest Apartments.

The  increase  in total  expenses  for both  periods  is due to an  increase  in
operating  expense  partially  offset by a decrease  in  interest  expense.  The
increase in operating  expense is due to  increases in property and  maintenance
expenses  partially  offset by a decrease in management  fees.  Property expense
increased  due to an  increase  in payroll  and  related  benefits at all of the
investment  properties.  Maintenance expense increased due to increased contract
labor at Brighton Crest  Apartments and the accrual for estimated  cleanup costs
related to the hurricane  damage at The Village and Brighton  Crest  Apartments.
Management  fees  decreased  due to a  decrease  in rental  income at all of the
investment  properties.  Interest expense  decreased due to scheduled  principal
payments on the mortgages encumbering the investment properties.

Included  in general  and  administrative  expenses  for the nine  months  ended
September  30,  2004 and  2003 are  management  reimbursements  to the  Managing
General  Partner as allowed under the  Partnership  Agreement.  Also included in
general and  administrative  expenses for both periods are costs associated with
the quarterly and annual  communications  with investors and regulatory agencies
and the annual audit required by the Partnership Agreement.

The  Partnership  owns an 82.5% general  partner  interest in the Sterling Crest
Joint Venture ("Joint Venture") which operates  Brighton Crest  Apartments.  The
Partnership  exercises  control  over the  activities  of the Joint  Venture  in
accordance  with  the  Joint  Venture  Agreement.  The  minority  partner  is an
affiliated  public  partnership.  As a result of the use of the equity method of
accounting  for the minority  partner's  investment in the joint  venture,  that
minority  interest  has been  reduced  to zero.  When the  Joint  Venture  makes
distributions  in excess  of the  minority  partner's  investment  balance,  the
Partnership,  as the  majority  partner,  records a charge equal to the minority
partner's  excess  distribution  over the  investment  balance.  The  charge  is
classified as distributions to minority interest partner in excess of investment
on the accompanying consolidated statements of operations.  Losses are allocated
to the minority partner to the extent they do not create a minority deficit,  in
which case the Partnership  recognizes  100% of the losses in operating  income.
The Partnership will recognize 100% of future net income of the Joint Venture to
the extent of previously unallocated losses and distributions.  Distributions to
the  minority  partner have reduced its  investment  balance to zero.  The Joint
Venture  had a net loss of  approximately  $160,000  for the nine  months  ended
September 30, 2004 and net income of  approximately  $19,000 for the nine months
ended  September 30, 2003.  The minority  partner's  share of net losses for the
nine months ended September 30, 2004 was  approximately  $28,000.  However,  the
Partnership  recognized  100%  of the net  loss  due to the  minority  partner's
investment balance being reduced to zero in 2002. No income was allocated to the
minority  partner for the nine months ended  September 30, 2003 as it was offset
against previously  unrecognized  losses and distributions of the Joint Venture.
The remaining  unallocated  losses and  distributions  at September 30, 2004 are
approximately

<PAGE>


$871,000.  During the nine months ended  September  30, 2003,  the Joint Venture
distributed  approximately  $33,000  to the  minority  partner.  There  were  no
distributions during the nine months ended September 30, 2004.

Liquidity and Capital Resources

At  September  30,  2004,  the  Partnership  had cash and  cash  equivalents  of
approximately $212,000 compared to approximately $383,000 at September 30, 2003.
Cash and cash  equivalents  decreased  approximately  $63,000 since December 31,
2003 due to  approximately  $394,000 of cash used in  investing  activities  and
approximately  $77,000 of cash used in financing  activities partially offset by
approximately  $408,000 of cash provided by operating  activities.  Cash used in
investing activities consisted of property improvements and replacements and net
deposits  to  restricted  escrow  accounts.  Cash used in  financing  activities
consisted  of  principal   payments  made  on  the  mortgages   encumbering  the
Partnership's  investment  properties partially offset by advances received from
an  affiliate of the  Managing  General  Partner.  The  Partnership  invests its
working capital reserves in interest bearing accounts.

The sufficiency of existing  liquid assets to meet future  liquidity and capital
expenditure   requirements   is  directly   related  to  the  level  of  capital
expenditures  required at the  properties  to  adequately  maintain the physical
assets and other  operating needs of the Partnership and to comply with Federal,
state, and local legal and regulatory requirements. The Managing General Partner
monitors  developments  in the  area of legal  and  regulatory  compliance.  For
example,  the  Sarbanes-Oxley  Act  of  2002  mandates  or  suggests  additional
compliance  measures  with  regard to  governance,  disclosure,  audit and other
areas.  In light of these changes,  the  Partnership  expects that it will incur
higher expenses related to compliance.  Capital improvements planned for each of
the Partnership's properties are detailed below.

Brighton Crest Apartments

During the nine months ended  September  30,  2004,  the  Partnership  completed
approximately  $156,000 of capital  improvements  at Brighton Crest  Apartments,
consisting primarily of exterior painting and siding upgrades and floor covering
and appliance  replacements.  These improvements were funded from operating cash
flow. The Partnership  evaluates the capital  improvement  needs of the property
during the year and  currently  expects to  complete  an  additional  $21,000 in
capital   improvements   during  the  remainder  of  2004.   Additional  capital
improvements may be considered and will depend on the physical  condition of the
property as well as replacement  reserves and anticipated cash flow generated by
the property.

The Fairway Apartments

During the nine months ended  September  30,  2004,  the  Partnership  completed
approximately  $201,000  of  capital  improvements  at The  Fairway  Apartments,
consisting primarily of electrical  upgrades,  plumbing fixture replacements and
appliance and floor covering  replacements.  These improvements were funded from
operating cash flow. The Partnership  evaluates the capital improvement needs of
the property  during the year and  currently  expects to complete an  additional
$15,000 in capital improvements during the remainder of 2004. Additional capital
improvements may be considered and will depend on the physical  condition of the
property as well as anticipated cash flow generated by the property.

The Village Apartments

During the nine months ended  September  30,  2004,  the  Partnership  completed
approximately  $79,000  of  capital  improvements  at  The  Village  Apartments,
consisting   primarily  of  fencing,   major   landscaping  and  floor  covering
replacements.  These  improvements  were funded from  operating  cash flow.  The
Partnership  evaluates the capital  improvement needs of the property during the
year and  currently  expects  to  complete  an  additional  $34,000  in  capital
improvements during the remainder of 2004.  Additional capital  improvements may
be considered and will depend on the physical  condition of the property as well
as replacement reserves and anticipated cash flow generated by the property.

Additional capital  expenditures will be incurred only if cash is available from
operations and Partnership  reserves.  To the extent that such budgeted  capital
improvements are completed,  the Partnership's  distributable cash flow, if any,
may be adversely affected at least in the short term.

The  Partnership's  assets are thought to be sufficient for any near-term  needs
(exclusive  of  capital   improvements)   of  the   Partnership.   The  mortgage
indebtedness    encumbering   the   Partnership's   investment   properties   of
approximately $19,324,000 is amortized over 20 years and matures January 1, 2021
and  February  1,  2022,  at which  time the  loans  are  scheduled  to be fully
amortized.

The Partnership  distributed the following  amounts during the nine months ended
September 30, 2004 and 2003 (in thousands, except per unit data):

<TABLE>
<CAPTION>

                    Nine Months Ended   Per Limited   Nine Months Ended   Per Limited
                      September 30,     Partnership     September 30,     Partnership
                          2004             Unit              2003             Unit

<S>                       <C>              <C>              <C>              <C>
Operations                $ --             $ --             $ 275            $ 9.41
</TABLE>

The  Partnership's  cash  available  for  distribution  is reviewed on a monthly
basis. Future cash distributions will depend on the levels of net cash generated
from  operations,  the  availability  of cash  reserves  and the  timing of debt
maturities,  refinancings,  and/or  property  sales.  There can be no assurance,
however,  that the Partnership  will generate  sufficient funds from operations,
after required capital improvements, to permit any distributions to its partners
during the remainder of 2004 or subsequent periods.

Other

In addition to its indirect  ownership of the managing  general partner interest
in the Partnership,  AIMCO and its affiliates  owned 16,545 limited  partnership
units (the "Units") in the  Partnership  representing  58.31% of the outstanding
Units at September 30, 2004. A number of these Units were  acquired  pursuant to
tender offers made by AIMCO or its affiliates.  It is possible that AIMCO or its
affiliates will acquire  additional  Units in exchange for cash or a combination
of cash and units in AIMCO Properties, L.P., the operating partnership of AIMCO,
either through private  purchases or tender offers.  Pursuant to the Partnership
Agreement,  unitholders  holding a majority  of the Units are  entitled  to take
action with  respect to a variety of matters that  include,  but are not limited
to,  voting on certain  amendments  to the  Partnership  Agreement and voting to
remove the Managing General  Partner.  As a result of its ownership of 58.31% of
the outstanding Units, AIMCO and its affiliates are in a position to control all
voting decisions with respect to the Partnership.  Although the Managing General
Partner owes fiduciary duties to the limited  partners of the  Partnership,  the
Managing  General  Partner  also  owes  fiduciary  duties  to  AIMCO as its sole
stockholder.  As a  result,  the  duties of the  Managing  General  Partner,  as
managing general  partner,  to the Partnership and its limited partners may come
into  conflict with the duties of the Managing  General  Partner to AIMCO as its
sole stockholder.

Critical Accounting Policies and Estimates

The consolidated financial statements are prepared in accordance with accounting
principles   generally  accepted  in  the  United  States,   which  require  the
Partnership to make estimates and assumptions.  The Partnership believes that of
its significant  accounting policies,  the following may involve a higher degree
of judgment and complexity.

Impairment of Long-Lived Assets

Investment  properties  are  recorded at cost,  less  accumulated  depreciation,
unless  considered  impaired.  If  events  or  circumstances  indicate  that the
carrying  amount of a property may be  impaired,  the  Partnership  will make an
assessment of its  recoverability  by estimating  the  undiscounted  future cash
flows,  excluding  interest  charges,  of the property.  If the carrying  amount
exceeds the aggregate  future cash flows,  the  Partnership  would  recognize an
impairment  loss to the extent the carrying amount exceeds the fair value of the
property.

Real  property  investments  are  subject  to varying  degrees of risk.  Several
factors  may  adversely  affect  the  economic  performance  and  value  of  the
Partnership's investment properties.  These factors include, but are not limited
to,  changes  in the  national,  regional  and  local  economic  climate;  local
conditions,  such as an oversupply of multifamily  properties;  competition from
other available  multifamily property owners and changes in market rental rates.
Any adverse changes in these factors could cause impairment of the Partnership's
assets.

Revenue Recognition

The Partnership generally leases apartment units for twelve-month terms or less.
Rental income  attributable to leases is recognized monthly as it is earned. The
Partnership  evaluates all accounts receivable from residents and establishes an
allowance, after the application of security deposits, for accounts greater than
30 days past due on current tenants and all receivables due from former tenants.
The Partnership will offer rental concessions during particularly slow months or
in response to heavy  competition from other similar  complexes in the area. Any
concessions  given at the inception of the lease are amortized  over the life of
the lease.

ITEM 3.     CONTROLS AND PROCEDURES

(a) Disclosure Controls and Procedures.  The Partnership's management,  with the
participation of the principal executive officer and principal financial officer
of the Managing  General  Partner,  who are the equivalent of the  Partnership's
principal executive officer and principal financial officer,  respectively,  has
evaluated  the  effectiveness  of  the  Partnership's  disclosure  controls  and
procedures (as such term is defined in Rules  13a-15(e) and 15d-15(e)  under the
Securities  Exchange Act of 1934, as amended (the "Exchange Act")) as of the end
of the period covered by this report.  Based on such  evaluation,  the principal
executive  officer  and  principal  financial  officer of the  Managing  General
Partner, who are the equivalent of the Partnership's principal executive officer
and principal  financial officer,  respectively,  have concluded that, as of the
end of such period,  the  Partnership's  disclosure  controls and procedures are
effective.

(b) Internal Control Over Financial  Reporting.  There have not been any changes
in the Partnership's  internal control over financial reporting (as such term is
defined in Rules  13a-15(f)  and  15d-15(f)  under the Exchange  Act) during the
fiscal quarter to which this report relates that have  materially  affected,  or
are reasonably likely to materially affect,  the Partnership's  internal control
over financial reporting.



<PAGE>


                           PART II - OTHER INFORMATION


ITEM 1.     LEGAL PROCEEDINGS

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial Group, Inc., et al. (the "Nuanes action") in the Superior Court of the
State of  California  for the  County  of San  Mateo.  The  plaintiffs  named as
defendants,  among others,  the  Partnership,  its Managing  General Partner and
several of their  affiliated  partnerships  and corporate  entities.  The action
purported  to  assert  claims  on  behalf  of a class of  limited  partners  and
derivatively  on behalf  of a number  of  limited  partnerships  (including  the
Partnership)  that are named as nominal  defendants,  challenging,  among  other
things,  the  acquisition  of  interests  in certain  Managing  General  Partner
entities by Insignia Financial Group, Inc.  ("Insignia") and entities that were,
at one  time,  affiliates  of  Insignia;  past  tender  offers  by the  Insignia
affiliates to acquire limited partnership units;  management of the partnerships
by the  Insignia  affiliates;  and the series of  transactions  which  closed on
October 1, 1998 and February 26, 1999 whereby  Insignia and Insignia  Properties
Trust,  respectively,  were merged into AIMCO.  The plaintiffs  sought  monetary
damages and equitable relief, including judicial dissolution of the Partnership.
In addition,  during the third quarter of 2001, a complaint  captioned Heller v.
Insignia  Financial  Group (the  "Heller  action")  was filed  against  the same
defendants  that are named in the  Nuanes  action.  On or about  August 6, 2001,
plaintiffs filed a first amended  complaint.  The Heller action was brought as a
purported derivative action, and asserted claims for, among other things, breach
of fiduciary  duty,  unfair  competition,  conversion,  unjust  enrichment,  and
judicial dissolution.

On January 8, 2003,  the parties filed a  Stipulation  of Settlement in proposed
settlement of the Nuanes action and the Heller action.

In general  terms,  the  proposed  settlement  provides  for  certification  for
settlement  purposes of a settlement class consisting of all limited partners in
this  Partnership and others (the  "Partnerships")  as of December 20, 2002, the
dismissal  with  prejudice  and  release  of claims  in the  Nuanes  and  Heller
litigation,  payment by AIMCO of $9.9  million  (which shall be  distributed  to
settlement  class  members  after  deduction of attorney fees and costs of class
counsel and certain costs of settlement) and up to $1 million toward the cost of
independent  appraisals of the  Partnerships'  properties  by a court  appointed
appraiser.  An affiliate of the Managing General Partner has also agreed to make
at least one round of tender offers to purchase all of the partnership interests
in the Partnerships within one year of final approval,  if it is granted, and to
provide  partners with the independent  appraisals at the time of these tenders.
The proposed  settlement also provided for the limitation of the allowable costs
which  the  Managing   General   Partner  or  its  affiliates  will  charge  the
Partnerships  in connection with this litigation and imposes limits on the class
counsel  fees and  costs in this  litigation.  On April  11,  2003,  notice  was
distributed  to  limited   partners   providing  the  details  of  the  proposed
settlement.

On June 13, 2003, the court granted final approval of the settlement and entered
judgment in both the Nuanes and Heller actions.  On August 12, 2003, an objector
("Objector") filed an appeal (the "Appeal") seeking to vacate and/or reverse the
order approving the settlement and entering  judgment  thereto.  On November 24,
2003,  the Objector  filed an  application  requesting  the court order AIMCO to
withdraw settlement tender offers it had commenced,  refrain from making further
offers  pending  the appeal and auction  any units  tendered  to third  parties,
contending  that the offers did not  conform  with the terms of the  settlement.
Counsel  for the  Objector  (on behalf of another  investor)  had  alternatively
requested the court take certain action  purportedly to enforce the terms of the
settlement agreement. On December 18, 2003, the Court heard oral argument on the
motions  and denied them both in their  entirety.  The  Objector  filed a second
appeal challenging the court's use of a referee and its order requiring Objector
to pay those fees.

On January 28, 2004,  Objector  filed his opening brief in the Appeal.  On April
23, 2004, the Managing General Partner and its affiliates filed a response brief
in support of the  settlement  and the judgment  thereto.  Plaintiffs  have also
filed a brief in support of the  settlement.  On June 4, 2004,  Objector filed a
reply to the briefs submitted by the Managing General Partner and Plaintiffs. In
addition both the Objector and  plaintiffs  filed briefs in connection  with the
second  appeal.  The Court of Appeals  heard oral  argument  on both  appeals on
September 22, 2004 and took the matters under submission.

The  Managing  General  Partner  does  not  anticipate  that  any  costs  to the
Partnership, whether legal or settlement costs, associated with these cases will
be material to the Partnership's overall operations.

On August 8, 2003 AIMCO  Properties  L.P., an affiliate of the Managing  General
Partner,  was served  with a  complaint  in the United  States  District  Court,
District of Columbia alleging that AIMCO Properties L.P.  willfully violated the
Fair Labor Standards Act ("FLSA") by failing to pay maintenance workers overtime
for all  hours  worked  in  excess  of forty  per  week.  On  March 5,  2004 the
plaintiffs filed an amended complaint also naming NHP Management Company,  which
is also an affiliate of the Managing General Partner. The complaint is styled as
a Collective  Action  under the FLSA and seeks to certify  state  subclasses  in
California, Maryland, and the District of Columbia. Specifically, the plaintiffs
contend that AIMCO Properties L.P. failed to compensate  maintenance workers for
time  that they were  required  to be  "on-call".  Additionally,  the  complaint
alleges AIMCO  Properties  L.P.  failed to comply with the FLSA in  compensating
maintenance  workers  for time that they  worked in  responding  to a call while
"on-call".  The defendants have filed an answer to the amended complaint denying
the  substantive  allegations.  Some  discovery  has taken place and  settlement
negotiations  continue.  Although the outcome of any  litigation  is  uncertain,
AIMCO  Properties,  L.P. does not believe that the ultimate  outcome will have a
material  adverse  effect on its financial  condition or results of  operations.
Similarly,  the  Managing  General  Partner  does not believe  that the ultimate
outcome will have a material  adverse effect on the  Partnership's  consolidated
financial condition or results of operations.

ITEM 6.     EXHIBITS


            See Exhibit Index Attached.



<PAGE>



                                   SIGNATURES



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



                                    DAVIDSON GROWTH PLUS, L.P.


                                    By:   DAVIDSON GROWTH PLUS GP CORPORATION
                                          Managing General Partner


                                    By:   /s/Martha L. Long
                                          Martha L. Long
                                          Senior Vice President


                                    By:   /s/Stephen B. Waters
                                           Stephen B. Waters
                                           Vice President


                                    Date: November 15, 2004



<PAGE>


                                  EXHIBIT INDEX


Exhibit

   3              Agreement of Limited  Partnership is incorporated by reference
                  to Exhibit A to the Prospectus of the  Registrant  dated April
                  13, 1986 as filed with the Commission  pursuant to Rule 424(b)
                  under the Act.

   3A             Amendments to the Partnership  Agreement dated August 20, 1986
                  and January 1, 1987 are  incorporated  by reference to Exhibit
                  3A to the  Registrant's  Annual  Report  on Form  10-K for the
                  fiscal year ended December 31, 1987.

   4              Certificate  of Limited  Partnership  dated May 20,  1986 is
                  incorporated  by reference to Exhibit 4 to the  Registrant's
                  Registration Statement on Form S-11 dated June 23, 1986.

  10M             Sterling Crest Joint Venture  Agreement  dated June 29, 1987
                  between  Freeman  Income  Real  Estate,   L.P.  and  Freeman
                  Georgia  Ventures,  Inc. is  incorporated  by  reference  to
                  Exhibit  10(c) to the  Registrant's  Report  on Form 8 dated
                  December 29, 1987.

  100             Amended and Restated  Sterling Crest Joint Venture Agreement
                  dated June 29, 1987 among Freeman Income Real Estate,  L.P.,
                  Freeman  Georgia  Ventures,  Inc.  and  the  Registrant,  is
                  incorporated   by   reference   to  Exhibit   10(e)  to  the
                  Registrant's Report on Form 8 dated December 29, 1987.

  10P             Assignment and Indemnity  Agreement dated September 25, 1987
                  among Freeman  Georgia  Ventures,  Inc.,  the Registrant and
                  Freeman Income Real Estate,  L.P. relating to Sterling Crest
                  Apartments,  is  incorporated  by reference to Exhibit 10(a)
                  to  the  Registrant's  Current  Report  on  Form  8-K  dated
                  September 25, 1987.

  10Q             Warranty  Deed  dated June 30,  1987  between  Sterling  Crest
                  Development  Partners,  Ltd., and Sterling Crest Joint Venture
                  is   incorporated   by  reference  to  Exhibit  10(b)  to  the
                  Registrant's  Current  Report on Form 8-K dated  September 25,
                  1987.

  10DD            Multifamily  Note dated  December 15,  2000,  by and between
                  The  Fairways,  L.P., a Delaware  limited  partnership,  and
                  Reilly  Mortgage   Group,   Inc.,  a  District  of  Columbia
                  Corporation,   relating  to  The  Fairways   Apartments   is
                  incorporated   by   reference   to   Exhibit   10DD  of  the
                  Registrant's  annual  report  on Form  10-KSB  for the  year
                  ended December 31, 2001.

  10EE            Multifamily  Note  dated  January 8,  2002,  by and  between
                  AIMCO  Village,  L.P., a Delaware  limited  partnership  and
                  ARCS Commercial  Mortgage Co., L.P.  relating to The Village
                  Apartments  (incorporated by reference to Exhibit 10EE filed
                  with the  Registrant's  Annual Report on Form 10-KSB for the
                  year ended December 31, 2003).

  10FF            Multifamily  Note dated  January  14,  2002,  by and between
                  Brighton Crest,  L.P., a South Carolina limited  partnership
                  and ARCS Commercial  Mortgage Co., L.P. relating to Brighton
                  Crest Apartments  (incorporated by reference to Exhibit 10FF
                  filed with the  Registrant's  Annual  Report on Form  10-KSB
                  for the year ended December 31, 2003).

31.1              Certification  of  equivalent  of  Chief  Executive  Officer
                  pursuant     to     Securities     Exchange     Act    Rules
                  13a-14(a)/15d-14(a),  as Adopted  Pursuant to Section 302 of
                  the Sarbanes-Oxley Act of 2002.

31.2              Certification  of  equivalent  of  Chief  Financial  Officer
                  pursuant     to     Securities     Exchange     Act    Rules
                  13a-14(a)/15d-14(a),  as Adopted  Pursuant to Section 302 of
                  the Sarbanes-Oxley Act of 2002.

32.1              Certification   Pursuant  to  18  U.S.C.  Section  1350,  as
                  Adopted  Pursuant to Section 906 of the  Sarbanes-Oxley  Act
                  of 2002.

  99              Agreement of Limited Partnership for The New Fairways,  L.P.
                  between  Davidson  Growth  Plus GP Limited  Partnership  and
                  Davidson Growth Plus, L.P.

  99A             Agreement  of Limited  Partnership  for Brighton  Crest,  L.P.
                  between Brighton Crest Limited  Partnership and Sterling Crest
                  Joint   Venture   entered  into  on  September   15,  1993  is
                  incorporated  by reference to Exhibit 28A of the  Registrant's
                  Quarterly   Report  on  Form  10-QSB  for  the  quarter  ended
                  September 30, 1993.

  99B             Agreement  of Limited  Partnership  for  Brighton  Crest GP,
                  L.P.  between  Davidson  Diversified  Properties,  Inc.  and
                  Sterling  Crest Joint Venture  entered into on September 15,
                  1993 is  incorporated  by  reference  to Exhibit  28B of the
                  Registrant's   Quarterly  Report  on  Form  10-QSB  for  the
                  quarter ended September 30, 1993.



<PAGE>


Exhibit 31.1
                                  CERTIFICATION

I, Martha L. Long, certify that:


1.    I have reviewed this  quarterly  report on Form 10-QSB of Davidson  Growth
      Plus, L.P.;

2.    Based on my knowledge,  this report does not contain any untrue  statement
      of a material fact or omit to state a material fact  necessary to make the
      statements made, in light of the circumstances under which such statements
      were made,  not  misleading  with  respect  to the period  covered by this
      report;

3.    Based on my  knowledge,  the  financial  statements,  and other  financial
      information  included  in this  report,  fairly  present  in all  material
      respects the financial condition,  results of operations and cash flows of
      the small  business  issuer as of, and for, the periods  presented in this
      report;

4.    The  small  business  issuer's  other  certifying  officer(s)  and  I  are
      responsible  for  establishing  and  maintaining  disclosure  controls and
      procedures (as defined in Exchange Act Rules  13a-15(e) and 15d-15(e)) for
      the small business issuer and have:

      (a)   Designed such  disclosure  controls and  procedures,  or caused such
            disclosure   controls  and  procedures  to  be  designed  under  our
            supervision,  to ensure that  material  information  relating to the
            small business issuer, including its consolidated  subsidiaries,  is
            made  known to us by  others  within  those  entities,  particularly
            during the period in which this report is being prepared;

      (b)   Evaluated  the   effectiveness   of  the  small  business   issuer's
            disclosure  controls and procedures and presented in this report our
            conclusions about the  effectiveness of the disclosure  controls and
            procedures, as of the end of the period covered by this report based
            on such evaluation; and

      (c)   Disclosed in this report any change in the small  business  issuer's
            internal  control over financial  reporting that occurred during the
            small  business  issuer's  most  recent  fiscal  quarter  (the small
            business  issuer's  fourth  fiscal  quarter in the case of an annual
            report) that has  materially  affected,  or is reasonably  likely to
            materially affect, the small business issuer's internal control over
            financial reporting; and

5.    The  small  business  issuer's  other  certifying  officer(s)  and I  have
      disclosed,  based on our most recent  evaluation of internal  control over
      financial reporting, to the small business issuer's auditors and the audit
      committee of the small  business  issuer's  board of directors (or persons
      performing the equivalent functions):

      (a)   All significant  deficiencies and material  weaknesses in the design
            or operation of internal control over financial  reporting which are
            reasonably  likely to adversely  affect the small business  issuer's
            ability  to  record,   process,   summarize  and  report   financial
            information; and

      (b)   Any fraud,  whether or not  material,  that  involves  management or
            other  employees who have a significant  role in the small  business
            issuer's internal control over financial reporting.

Date:  November 15, 2004

                                    /s/Martha L. Long
                                    Martha L. Long
                                    Senior Vice  President  of  Davidson  Growth
                                    Plus GP Corporation, equivalent of the chief
                                    executive officer of the Partnership


<PAGE>


Exhibit 31.2
                                  CERTIFICATION

I, Stephen B. Waters, certify that:


1.    I have reviewed this  quarterly  report on Form 10-QSB of Davidson  Growth
      Plus, L.P.;

2.    Based on my knowledge,  this report does not contain any untrue  statement
      of a material fact or omit to state a material fact  necessary to make the
      statements made, in light of the circumstances under which such statements
      were made,  not  misleading  with  respect  to the period  covered by this
      report;

3.    Based on my  knowledge,  the  financial  statements,  and other  financial
      information  included  in this  report,  fairly  present  in all  material
      respects the financial condition,  results of operations and cash flows of
      the small  business  issuer as of, and for, the periods  presented in this
      report;

4.    The  small  business  issuer's  other  certifying  officer(s)  and  I  are
      responsible  for  establishing  and  maintaining  disclosure  controls and
      procedures (as defined in Exchange Act Rules  13a-15(e) and 15d-15(e)) for
      the small business issuer and have:

      (a)   Designed such  disclosure  controls and  procedures,  or caused such
            disclosure   controls  and  procedures  to  be  designed  under  our
            supervision,  to ensure that  material  information  relating to the
            small business issuer, including its consolidated  subsidiaries,  is
            made  known to us by  others  within  those  entities,  particularly
            during the period in which this report is being prepared;

      (b)   Evaluated  the   effectiveness   of  the  small  business   issuer's
            disclosure  controls and procedures and presented in this report our
            conclusions about the  effectiveness of the disclosure  controls and
            procedures, as of the end of the period covered by this report based
            on such evaluation; and

      (c)   Disclosed in this report any change in the small  business  issuer's
            internal  control over financial  reporting that occurred during the
            small  business  issuer's  most  recent  fiscal  quarter  (the small
            business  issuer's  fourth  fiscal  quarter in the case of an annual
            report) that has  materially  affected,  or is reasonably  likely to
            materially affect, the small business issuer's internal control over
            financial reporting; and

5.    The  small  business  issuer's  other  certifying  officer(s)  and I  have
      disclosed,  based on our most recent  evaluation of internal  control over
      financial reporting, to the small business issuer's auditors and the audit
      committee of the small  business  issuer's  board of directors (or persons
      performing the equivalent functions):

      (a)   All significant  deficiencies and material  weaknesses in the design
            or operation of internal control over financial  reporting which are
            reasonably  likely to adversely  affect the small business  issuer's
            ability  to  record,   process,   summarize  and  report   financial
            information; and

      (b)   Any fraud,  whether or not  material,  that  involves  management or
            other  employees who have a significant  role in the small  business
            issuer's internal control over financial reporting.

Date:  November 15, 2004

                                    /s/Stephen B. Waters
                                    Stephen B. Waters
                                    Vice President of Davidson Growth
                                    Plus GP Corporation, equivalent of
                                    the chief financial officer of the
                                    Partnership


<PAGE>


Exhibit 32.1


                          Certification of CEO and CFO
                       Pursuant to 18 U.S.C. Section 1350,
                             As Adopted Pursuant to
                Section 906 of the Sarbanes-Oxley Act of 2002



In connection with the Quarterly  Report on Form 10-QSB of Davidson Growth Plus,
L.P. (the  "Partnership"),  for the quarterly period ended September 30, 2004 as
filed with the  Securities  and  Exchange  Commission  on the date  hereof  (the
"Report"),  Martha L. Long, as the equivalent of the chief executive  officer of
the Partnership, and Stephen B. Waters, as the equivalent of the chief financial
officer of the Partnership, each hereby certifies, pursuant to 18 U.S.C. Section
1350,  as adopted  pursuant  to Section 906 of the  Sarbanes-Oxley  Act of 2002,
that, to the best of his knowledge:

      (1)   The Report fully complies with the  requirements of Section 13(a) or
            15(d) of the Securities Exchange Act of 1934; and

      (2)   The  information  contained in the Report  fairly  presents,  in all
            material respects, the financial condition and results of operations
            of the Partnership.


                                           /s/Martha L. Long
                                    Name:  Martha L. Long
                                    Date:  November 15, 2004


                                           /s/Stephen B. Waters
                                    Name:  Stephen B. Waters
                                    Date:  November 15, 2004


This  certification is furnished with this Report pursuant to Section 906 of the
Sarbanes-Oxley  Act of 2002 and shall not be deemed filed by the Partnership for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended.