===============================================================
                              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 quarterly period ended June 30, 1998

                    Commission file number 0-17651


                       HIGH CASH PARTNERS, L.P.
        (Exact name of registrant as specified in its charter)

          DELAWARE                        13-3347257
(State or other jurisdiction of           (I.R.S. Employer
incorporation or organization)            Identification No.)

                       High Cash Partners, L.P.
                         (Sierra Marketplace)
          c/o CB Commercial Real Estate Group, Inc.
                        5190 Neil Road, Suite 100
                         Reno, Nevada 89502-8500
               (Address of principal executive offices)

                            (212) 399-9193
          (Registrant's telephone number, including area code)

                                 None
(Former name, former address and former fiscal year, if changed
since last report)


Indicate by checkmark 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 
===============================================================






































                       HIGH CASH PARTNERS, L.P.

                        FORM 10-Q   JUNE 30, 1998

                                 INDEX




PART I - FINANCIAL INFORMATION

  ITEM 1 - FINANCIAL STATEMENTS

     BALANCE SHEETS - June 30, 1998 and December 31, 1997   1

     STATEMENTS OF OPERATIONS - For the three months ended
        June 30, 1998 and 1997 and for the six months ended
        June 30, 1998 and 1997                              2

     STATEMENT OF PARTNERS' EQUITY - For the six months
        ended June 30, 1998                                 3

     STATEMENTS OF CASH FLOWS - For the six months
        ended June 30, 1998 and 1997                        4

     NOTES TO FINANCIAL STATEMENTS                         5-6

  ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF
           FINANCIAL CONDITION AND RESULTS OF OPERATIONS   7-9

PART II -  OTHER INFORMATION

  ITEM 6 - EXHIBITS AND REPORTS ON FORM 8-K                 10

SIGNATURES                                                  11









PART I   FINANCIAL INFORMATION

ITEM 1   FINANCIAL STATEMENTS


                        HIGH CASH PARTNERS, L.P.

                             BALANCE SHEETS


                                 June 30,       December 31,
                                   1998             1997
ASSETS

  Real estate, net              $  15,394,395   $  15,551,179
  Cash and cash equivalents         3,719,908       3,052,039
  Tenant receivables, net             202,634          29,737
  Other assets                         55,466          53,739
  Prepaid insurance premiums            9,073          29,511
                                   ----------      -----------  
                                $  19,381,476   $  18,716,205
                                   ----------      -----------  


LIABILITIES AND PARTNERS' EQUITY

Liabilities

  Mortgage loan payable         $   6,500,000   $   6,500,000
  Deferred interest payable        12,046,219      11,040,481
  Accounts payable and accrued
    expenses                           86,600         127,680
  Due to affiliates                       113           2,890
  Tenants' security deposits
    payable                            57,979          54,579
                                   ----------      -----------
       Total liabilities           18,690,911      17,725,630
                                   ----------      -----------






Commitments and contingencies

Partners' equity

  Limited partners' equity
    (96,472 units issued
    and outstanding)                  683,659         980,669
  General partners' equity              6,906           9,906
                                      -------         -------

       Total partners' equity         690,565         990,575
                                      -------        --------

                                $  19,381,476   $  18,716,205
                                  -----------      ---------- 





























                        HIGH CASH PARTNERS, L.P.

                        STATEMENTS OF OPERATIONS


                                For the three months ended
                                          June 30,

                                    1998              1997
Revenues
  Rental income                 $     665,070   $     807,782
  Interest income                      42,269          32,043    
  Other income                            467           3,930
                                      -------         -------
                                      707,806         843,755
                                      -------         -------

Costs and expenses
  Mortgage loan interest              509,113         451,726
  Operating                           126,209         165,109
  Depreciation and amortization        89,146         100,328
  Partnership management fees          75,369          75,369
  Property management fees             15,078          12,861
  Administrative                       27,316          12,189
  Write-down for impairment                 -               -
                                      -------         -------
                                      842,231         817,582
                                      -------         ------- 

  Net (loss) Income             $  (134,425)    $      26,173

  Net (loss) Income attributable to
  Limited partners              $  (133,081)    $      25,911    
     General partners                (1,344)              262    
                                   --------           ------- 
                                $  (134,425)    $      26,173
                                   --------           -------

  Net (loss) Income per unit of
     limited partnership
     interest (96,472
     units outstanding)                         $    (1.38)             $ .27
                                                   --------             ------- 




                        HIGH CASH PARTNERS, L.P.

                        STATEMENTS OF OPERATIONS



                                For the six months ended
                                          June 30,

                                    1998              1997

Revenues
  Rental income                 $   1,260,351   $   1,428,959
  Interest income                      80,081          45,754    
  Other income                          2,017           3,930
                                    --------        ---------
                                    1,342,449       1,478,643
                                    --------        ---------

Costs and expenses
  Mortgage loan interest            1,005,738         896,011
  Operating                           236,509         321,160
  Depreciation and amortization       173,629         222,064
  Partnership management fees         150,738         150,738
  Property management fees             32,765          31,430
  Administrative                       43,080          27,144
  Write-down for impairment                 -       6,475,500
                                    ---------      ---------- 
                                    1,642,459       8,124,047

  Net (loss) Income             $    (300,010)  $  (6,645,404)
                                    ----------     ----------- 

  Net (loss) Income attributable to
  Limited partners              $    (297,010)  $  (6,578,950)   
     General partners                  (3,000)        (66,454)
                                     --------       ----------
                                $    (300,010)  $  (6,645,404)
                                     --------       ----------
  Net (loss) Income per unit of
     limited partnership
     interest (96,472
     units outstanding)         $      (3.08)   $    (68.20)




                        HIGH CASH PARTNERS, L.P.

                     STATEMENT OF PARTNERS' EQUITY



                            General      Limited      Total
                           Partners'    Partners'   Partners'
                            Equity       Equity      Equity

Balance, January 1, 1998  $   9,906   $  980,669  $   990,575

Net loss for the six
  months ended
  June 30, 1998              (3,000)    (297,010)    (300,010)
                             -------     --------    --------- 
Balance, June 30, 1998    $   6,906   $  683,659  $   690,565
                             -------     --------    ---------


























                          HIGH CASH PARTNERS, L.P.

                          STATEMENTS OF CASH FLOWS

                                For the six months ended
                                          June 30,

                                    1998              1997

INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS

Cash flows from operating
  activities
     Net loss                   $  (300,010)    $  (6,645,404)
  Adjustments to reconcile
    net loss to net cash
     provided by operating
     activities
       Write-down for impairment          -         6,475,500
       Deferred interest expense  1,005,738           896,011
       Depreciation and
         amortization               173,629           222,064
  Changes in assets and
     liabilities
       Tenant receivables          (172,897)         (235,446)
       Other assets                 (12,788)           (1,945)
       Prepaid insurance premiums     20,438           50,789
       Accounts payable and 
         accrued expenses            (41,080)         (22,666)
       Due to affiliates              (2,777)              35
       Tenants' security deposits
         payable                       3,400                -
                                   ---------         --------

          Net cash provided by
             operating activities    673,653          738,938
                                   ---------         -------- 

Cash flows from Investing activities
  Additions to real estate            (5,784)               -
                                   ----------        --------

Cash flow from financing activities
  Distributions to partners                -         (305,007)
                                   ---------         --------

Net increase in cash and cash
  equivalents                        667,869          433,931

Cash and cash equivalents,
  beginning of period              3,052,039        1,774,565
                                   ---------        ---------
Cash and cash equivalents,
  end of period                 $  3,719,908    $   2,208,496
                                   ---------        ---------































                        HIGH CASH PARTNERS, L.P.

                     NOTES TO FINANCIAL STATEMENTS



1. INTERIM FINANCIAL INFORMATION

   The summarized financial information contained herein is
   unaudited; however, in the opinion of management, all
   adjustments (consisting only of normal recurring accruals)
   necessary for a fair presentation of such financial
   information have been included.  The accompanying financial
   statements, footnotes and discussions should be read in
   conjunction with the financial statements, related
   footnotes and discussions contained in the High Cash
   Partners, L.P. (the "Partnership") annual report on Form
   10-K for the year ended December 31, 1997.  The results of
   operations for the six months ended June 30, 1998 are not
   necessarily indicative of the results to be expected for
   the full year.

2. CHANGE IN GENERAL PARTNER OWNERSHIP, CONFLICTS OF INTEREST
   AND TRANSACTIONS WITH RELATED PARTIES
   On June 13, 1997, Resources High Cash, Inc. ("RHC") and
   Presidio AGP Corp. ("AGP") sold their general partnership
   interests in the Partnership to Pembroke HCP LLC ("Pembroke
   HCP") and Pembroke AGP Corp. ("Pembroke AGP"),
   respectively.  In the same transaction, XRC Corp., the
   parent company of RHC, sold its 8,361 Units to Pembroke
   Capital II, LLC, an affiliate of Pembroke HCP and Pembroke
   AGP. Subsequently, Pembroke Capital II LLC acquired
   beneficial ownership of an aggregate of an additional 2,415
   Units in the secondary market.

   Prior to the sale of the general partnership interest in
   the Partnership to Pembroke HCP and Pembroke AGP, Wexford
   Management LLC ("Wexford") had performed management and
   administrative services for Presidio, XRC and XRC's direct
   and indirect subsidiaries, as well as for the Partnership. 
   Following the sale, an entity indirectly related to
   Pembroke HCP was engaged to perform administrative services
   for the Partnership.  During the quarter ended June 30,
   1998, $9,000 in reimbursable payroll expenses was paid to
   the affiliate of Pembroke HCP for services performed during
   the quarter.

   The Partnership had been a party to a supervisory
   management agreement with Resources Supervisory Management
   Corp. ("Resources Supervisory"), an affiliate of RHC and
   AGP, pursuant to which Resources Supervisory performed
   certain property management functions.  Resources
   Supervisory performed such services through June 13, 1997. 
   Effective June 13, 1997, the Partnership terminated this
   agreement and entered into a similar agreement with
   Pembroke Realty Management LLC ("Pembroke Realty"), an
   affiliate of Pembroke HCP and Pembroke AGP.  A portion of
   the property management fees payable to Resources
   Supervisory and Pembroke Realty were paid to an
   unaffiliated management company, which had been engaged for
   the purpose of performing the property management functions
   that were the subject of the supervisory management
   agreement. For the quarters ended June 30, 1998 and 1997,
   Pembroke Realty and Resources Supervisory collectively were
   entitled to receive $15,078 and $12,861, respectively, of
   which $12,565 and $9,376, respectively, was payable to the
   unaffiliated management company. No leasing activity
   compensation was paid to Pembroke Realty or Resources
   Supervisory for the quarter ended June 30, 1998 or 1997. 
   Current fees of $113 were payable to Pembroke Realty at
   June 30, 1998, which were paid in the subsequent quarter.

3. CHANGE IN GENERAL PARTNER OWNERSHIP, CONFLICTS OF INTEREST
   AND TRANSACTIONS WITH RELATED PARTIES (continued)

   For managing the affairs of the Partnership, the Managing
   General Partner is entitled to an annual partnership
   management fee equal to $301,475.  For each of the quarters
   ended June 30, 1998 and 1997, the Managing General Partner
   was entitled to a partnership management fee of $75,369.

   The general partners are allocated 1% of the net income or
   losses of the Partnership, which amounted to net income
   (loss) of $(1,344) and $262 in the quarters ended June 30,
   1998 and 1997, respectively.  They also are entitled to
   receive 1% of distributions.


<PAGE>
4. REAL ESTATE

   Real estate, which is the Partnership's sole asset, is
   summarized as follows:

                                 June 30,         December 31,
                                   1998               1997

   Land                         $   6,667,189  $   6,667,189
   Building and improvements       12,806,498     12,800,714
                                   ----------     ----------
                                   19,473,687     19,467,903
   Accumulated depreciation        (4,079,292)    (3,916,724)
                                   ----------     ----------
                                $  15,394,395  $  15,551,179

   The land, building and improvements that comprise the
   Partnership's sole asset are collateralized by a mortgage
   loan payable.  In performing its quarterly impairment
   review of the Partnership's property, prior management
   determined that the aggregate undiscounted cash flows from
   the property over the anticipated holding period were below
   its net carrying value at March 31, 1997 and, therefore, an
   impairment existed.  At that time, prior management
   estimated the fair value of the property to be
   approximately $15,875,000.  Consequently, a write-down for
   impairment of $6,475,500 was recorded as of March 31, 1997,
   of which $2,201,670 was allocated to land and $4,273,830
   was allocated to building and improvements. No write-down
   for impairment was required during the three months ended
   June 30, 1998.

5. DUE TO AFFILIATES

   The amounts due to affiliates are as follows:

                                   June 30,       December 31,
                                     1998             1997

   Supervisory Management Fee   $       113    $        2,890



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


        Liquidity and Capital Resources

        The Partnership's sole property is a community
        shopping center located in Reno, Nevada containing
        approximately 233,000 square feet of net leasable
        area.

        The Partnership uses working capital reserves set
        aside from the net proceeds of its public offering in
        1989 and undistributed cash flow from operations as
        its primary measure of liquidity.  As of June 30,
        1998, working capital reserves amounted to
        approximately $3,800,000, which may be used to fund
        capital expenditures, insurance, real estate taxes and
        loan payments.  All expenditures made during the
        quarter ended June 30, 1998 were funded from cash flow
        from operations.

        At June 30, 1998, the total amount outstanding on the
        Partnership's mortgage loan payable to Resources
        Accrued Mortgage Investors 2 L.P. ("RAM 2") was
        $18,546,219, which included deferred interest payable
        of $12,046,219.  The mortgage does not permit a
        prepayment before March 1, 1999, and, therefore, the
        Partnership may not be able to refinance the mortgage
        before that date.  At March 1, 1999, the total amount
        outstanding on the mortgage is expected to be
        approximately $20,000,000.  If the value of the
        property does not exceed $20,000,000 at March 1, 1999,
        the Partnership may not be able to refinance the
        mortgage at that time.  The mortgage matures on
        February 28, 2001.  At that time, the total amount
        outstanding on the mortgage is expected to be
        approximately $25,000,000.  If the value of the
        property at that time does not exceed $25,000,000, the
        Partnership may lose its entire investment in the
        property.  In that connection, in the first quarter of
        1997, the value of the property was written down to
        $15,875,000.  See "Write-Down for Impairment" below.

        The mortgage further requires the Partnership to
        provide RAM 2 with a current appraisal of the
        Partnership's property upon RAM 2's request.  If it is
        determined, based upon the requested appraisal, that
        the sum of (i) the principal balance of the mortgage
        loan plus all other then outstanding indebtedness
        secured by the property and (ii) all accrued and
        unpaid interest on the mortgage at 6.22% per annum,
        compounded monthly (that sum, the "Measurement
        Amount"), exceeds 85% of the appraised value, an
        amount equal to such excess would become immediately
        due and payable to RAM 2.

        To date, the lender has not requested an appraisal. 
        There can be no assurance that, if the lender requests
        an appraisal, 85% of the appraised value will equal
        the Measurement Amount.  At June 30, 1998, the
        Measurement Amount was approximately $11,638,000,
        which was approximately $1,856,000 less than 85% of
        the $15,875,000 value to which the property was
        written down in the first quarter of 1997.  As
        interest on the mortgage accrues, the Measurement
        Amount will increase, and, therefore, unless the value
        of the property increases sufficiently from the value
        to which it was written down in the first quarter of
        1997, the Measurement Amount eventually will exceed
        85% of the appraised value of the property.

        Until November 1997, Levitz Furniture Corporation
        ("Levitz") had occupied approximately 23% of the space
        of the Partnership's property (i.e., approximately
        53,000 out of approximately 233,000 square feet of net
        leasable area).  In November 1997, Levitz, which had
        filed for protection under Chapter 11 of the
        Bankruptcy Code, vacated its space.  Levitz ceased
        paying rent to the Partnership as of April 2, 1998.

        The vacancy at the Levitz space has resulted in a loss
        of income to the Partnership, and may adversely affect
        the surrounding tenants, particularly in light of the
        limited visibility those tenants have to the main
        thoroughfare.  See "Real Estate Market" below.  The
        Partnership is actively seeking a substitute tenant. 
        However, there can be no assurance the Partnership
        will succeed in finding a substitute tenant promptly
        or on terms comparable to those under the Levitz
        lease.  In addition, the Partnership expects to make
        substantial expenditures in order to secure a
        substitute tenant and in connection with a new lease.

        The level of leasing activity cannot be predicted,
        particularly in light of the Levitz situation, and
        therefore, the amount of further capital expenditures
        arising from leasing activity is uncertain.  There can
        be no assurance the Partnership will have sufficient
        liquidity both to make such capital expenditures, and
        to make the payments that may be required under the
        terms of the RAM 2 loan.  If there is a default on the
        RAM 2 loan, the Partnership would be materially and
        adversely affected.  Consequently, the Partnership has
        declared no distribution payable for the six months
        ended June 30, 1998 and will not declare any
        distribution for the foreseeable future in order to
        build up cash reserves.

        Real Estate Market

        A substantial decline in the market value of the
        Partnership's property reflects real estate market
        conditions in the vicinity of that property.  Recently
        built shopping centers in the vicinity have increased
        competition for tenants.  This competitive factor,
        together with the fact that much of the unleased space
        in the Partnership's property (including the Levitz
        space) has only limited visibility to the main
        thoroughfare and the fact that the space occupied by
        Levitz is expected to be vacant for at least some
        period, have hindered the lease-up of new space.  As a
        result, the Partnership's investment in its property
        is at risk.

        Write-Down for Impairment

        The Partnership's property is reflected in the
        Partnership's financial statements at the lower of
        depreciated cost or estimated fair value.  A
        write-down for impairment with respect to the
        Partnership's property may be recorded from time to
        time based upon quarterly reviews of the property.  In
        performing this review, management considers the
        estimated fair value of the property based upon
        undiscounted future cash flows, as well as other
        factors, such as the current occupancy situation in
        the region where the property is located. Because this
        determination of estimated fair value is based upon
        future economic events, the amounts ultimately
        realized upon a disposition of the property may differ
        materially from the value reflected in the
        Partnership's financial statements.  A write-down for
        impairment is inherently subjective and is based upon
        management's best estimate of current conditions and
        assumptions about expected future conditions.

        In the first quarter of 1997, prior management
        determined that the aggregate undiscounted cash  flows
        from the property over the anticipated holding period
        were below the value of the property reflected in the
        Partnership's financial statements at March 31, 1997
        and, therefore, an impairment existed. At that time,
        prior management estimated the fair value of the
        property to be approximately $15,875,000. 
        Consequently, a write-down for impairment of
        $6,475,500 was recorded at March 31, 1997.

        No additional write-down for impairment has been
        required since March 31, 1997.  However, the
        Partnership may provide for additional write-downs in
        the future and such write-downs could be material.

        Results of Operations

        Three months ended June 30, 1988 compared to three
        months ended June 30, 1997.

        The Partnership realized a net loss of $134,425 for
        the three months ended June 30, 1998 compared to net
        income of $26,173 for the corresponding 1997 period, a
        change of $160,598.  The change was primarily a result
        of a decrease in rental revenue caused by Levitz
        ceasing paying rent as of April 2, 1998, as well as an
        increase in mortgage loan interest expense.

        Revenues decreased from 1997 to 1998 primarily due to
        the loss of Levitz as a tenant, as well as other
        decreases in base rentals.

        Costs and expenses increased from 1997 to 1998
        primarily due to an increase in mortgage loan interest
        expense, which was partially offset by a decrease in
        operating expenses.

        Operating expenses decreased as a result of lower
        insurance and repairs and maintenance costs.  Mortgage
        loan interest expense increased due to the compounding
        effect from the deferral of the interest expense on
        the zero coupon mortgage.  Administrative expenses
        increased primarily due to an increase in legal fees.


        Six months ended June 30, 1998 compared to six months
        ended June 30, 1997.

        The Partnership realized a net loss of $300,010 for
        the six months ended June 30, 1998 compared to a net
        loss of $6,645,404 for the corresponding 1997 period,
        a change of $6,345,394.  The change was primarily a
        result of the write-down for impairment recorded in
        March 1997 on the Sierra property.

        Revenues decreased from 1997 to 1998 due to the loss
        of Levitz as a tenant, as well as other decreases in
        base rentals.

        Costs and expenses decreased from 1997 to 1998
        primarily due to the write-down for impairment
        recorded in 1997.  Decreases in operating and
        depreciation expenses were partially offset by an
        increase in mortgage loan interest expense.  Operating
        expenses decreased as a result of lower insurance and
        repairs and maintenance costs.  Depreciation expense
        decreased as a result of the impairment recorded in
        March 1997.  Mortgage loan interest expense increased
        due to the compounding effect from the deferral of the
        interest expense on the zero coupon mortgage.

<PAGE>
PART II -
        OTHER INFORMATION

ITEM 6. -
        EXHIBITS AND REPORTS ON FORM 8-K

        (a)   Exhibits:  None

        (b)   Reports on Form 8-K:  None.






<PAGE>
                              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.



                         HIGH CASH PARTNERS, L.P.

                         By:  Pembroke HCP, LLC
                              Managing General Partner




                         By:  Pembroke Companies, Inc.,
                              Managing Member



Dated:  August 12, 1998  By:  /s/ Lawrence J. Cohen
                              Lawrence J. Cohen
                              President and Principal
                              Financial and Accounting Officer