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 June 30, 2002


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


             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)

<PAGE>



                         PART I - FINANCIAL INFORMATION

ITEM 1.     FINANCIAL STATEMENTS



                          DAVIDSON GROWTH PLUS, L.P.

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

                                  June 30, 2002

<TABLE>
<CAPTION>

Assets
<S>                                                                          <C>
   Cash and cash equivalents                                                 $ 487
   Receivables and deposits                                                     172
   Restricted escrows                                                           129
   Other assets                                                                 895
   Investment properties:
       Land                                                  $ 4,650
       Buildings and related personal property                 21,709
                                                               26,359
       Less accumulated depreciation                          (13,278)       13,081
                                                                           $ 14,764
Liabilities and Partners' Deficit
Liabilities
   Accounts payable                                                          $ 43
   Tenant security deposit liabilities                                           97
   Accrued property taxes                                                       277
   Other liabilities                                                            473
   Mortgage notes payable                                                    20,522

Partners' Deficit
   General partners                                          $ (1,017)
   Limited partners (28,371.75 units issued and
      outstanding)                                             (5,631)       (6,648)
                                                                           $ 14,764


         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               Six Months
                                          Ended June 30,            Ended June 30,
                                        2002         2001          2002        2001

 Revenues:
<S>                                   <C>           <C>          <C>          <C>
   Rental income                      $ 1,356       $ 1,399      $ 2,746      $ 2,787
   Other income                           107            92          206          207
       Total revenues                   1,463         1,491        2,952        2,994

 Expenses:
   Operating                              479           490          931          996
   General and administrative              66            71          147          136
   Depreciation                           259           251          513          500
   Interest                               378           288          757          579
   Property taxes                         139           119          277          251
   Loss on early extinguishment
     of debt                               --            --          398           --
       Total expenses                   1,321         1,219        3,023        2,462

 Operating income (loss)                  142           272          (71)         532
 Distributions to minority
   interest partner in excess
   of investment                         (799)           --         (799)          --
 Minority interest in net
   (income) loss of joint venture          (8)          (22)          26          (51)

 Net (loss) income                     $ (665)       $ 250        $ (844)      $ 481

 Net (loss) income allocated to
   general partners (3%)               $ (20)         $ 7         $ (25)       $ 14
 Net (loss) income allocated to
   limited partners (97%)                (645)          243         (819)         467

                                       $ (665)       $ 250        $ (844)      $ 481

 Net (loss) income per limited
   partnership unit                   $(22.73)      $ 8.56       $(28.87)     $ 16.46

 Distributions per limited
   partnership unit                   $182.96       $ 12.79      $182.96      $ 39.79

         See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<PAGE>

                          DAVIDSON GROWTH PLUS, L.P.

       CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' (DEFICIT) CAPITAL
                                   (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) capital at
   December 31, 2001                28,371.75     $ (831)       $ 379        $ (452)

Distributions to partners                  --        (161)      (5,191)      (5,352)

Net loss for the six
   months ended June 30, 2002              --         (25)        (819)        (844)

Partners' deficit at
   June 30, 2002                    28,371.75     $(1,017)     $(5,631)     $(6,648)

         See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<PAGE>

                          DAVIDSON GROWTH PLUS, L.P.

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                (in thousands)

<TABLE>
<CAPTION>

                                                                    Six Months Ended
                                                                        June 30,
                                                                    2002        2001
Cash flows from operating activities:
<S>                                                                <C>          <C>
  Net (loss) income                                                $ (831)      $ 481
  Adjustments to reconcile net (loss) income to net cash
   provided by operating activities:
     Depreciation                                                     513          500
     Distributions to minority interest partner in excess of
      investment                                                      807           --
     Amortization of discounts and loan costs                          23           33
     Loss on early extinguishment of debt                             398           --
     Minority interest in net (loss) income of joint venture          (34)          51
     Change in accounts:
      Receivables and deposits                                         84          364
      Other assets                                                    (34)         (43)
      Accounts payable                                               (102)         (90)
      Tenant security deposit liabilities                               1          (11)
      Accrued property taxes                                            8           13
      Other liabilities                                               199          (17)
         Net cash provided by operating activities                  1,032        1,281

Cash flows from investing activities:
  Property improvements and replacements                             (227)        (180)
  Net withdrawals from (deposits to) restricted escrows                50           (2)
         Net cash used in investing activities                       (177)        (182)

Cash flows from financing activities:
  Payments on mortgage notes payable                                 (188)        (132)
  Repayment of mortgage notes payable                              (7,769)          --
  Proceeds from mortgage notes payable                             14,273           --
  Loan costs paid                                                    (663)         (16)
  Prepayment penalty                                                 (293)          --
  Advances from affiliate                                             146           --
  Repayment of advances from affiliate                               (146)          --
  Distribution to partners                                         (5,352)      (1,164)
  Distributions to minority interest partner                         (807)        (124)
         Net cash used in financing activities                       (799)      (1,436)

Net increase (decrease) in cash and cash equivalents                   56         (337)
Cash and cash equivalents at beginning of period                      431          761
Cash and cash equivalents at end of period                         $ 487        $ 424

Supplemental disclosure of cash flow information:
  Cash paid for interest                                           $ 681        $ 507

         See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<PAGE>

                          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"),   an  affiliate  of  Apartment   Investment  and  Management  Company
("AIMCO"),  a publicly  traded real estate  investment  trust,  all  adjustments
(consisting  of  normal  recurring  accruals)  considered  necessary  for a fair
presentation  have been included.  Operating results for the three and six month
periods ended June 30, 2002, are not necessarily  indicative of the results that
may be expected  for the fiscal  year  ending  December  31,  2002.  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, 2001.

Effective  January 1, 2002,  the  Partnership  adopted  Statement  of  Financial
Accounting  Standards ("SFAS") No. 145, "Rescission of FASB Statements No. 4, 44
and 64". SFAS No. 4 "Reporting  Gains and Losses from  Extinguishment  of Debt,"
required  that all gains and losses from  extinguishment  of debt be  aggregated
and, if material,  classified as an  extraordinary  item.  SFAS No. 145 rescinds
SFAS No. 4, and accordingly, gains and losses from extinguishment of debt should
only be  classified  as  extraordinary  if they are  unusual in nature and occur
infrequently. Neither of these criteria applies to the Partnership. As a result,
the accompanying consolidated statements of operations reflect the loss on early
extinguishment  of debt at  Brighton  Crest and The  Village  (see  "Note C") in
operations rather than as an extraordinary item.

Note B - Transactions with Affiliated Parties

The  Partnership  has no employees  and is  dependent  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.

During the six months ended June 30, 2002 and 2001,  affiliates  of the Managing
General  Partner were  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  $154,000 and
$153,000 for the six months ended June 30, 2002 and 2001, respectively, which is
included in operating expenses.

An  affiliate  of  the  Managing  General  Partner  received   reimbursement  of
accountable  administrative  expenses  amounting  to  approximately  $94,000 and
$78,000 for the six months ended June 30, 2002 and 2001, respectively,  which is
included in general and administrative expenses.

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 $21,000 and $16,000
for the six months ended June 30, 2002 and 2001, respectively, which is included
in general and administrative expenses. Subordinated Partnership management fees
of approximately  $31,000 were paid with the distribution of refinance  proceeds
from the refinancing of Brighton Crest and The Village Apartments during the six
months  ended  June 30,  2002.  There was  approximately  $19,000  in unpaid and
accrued subordinated Partnership management fees at June 30, 2002.

In addition to reimbursement for services to affiliates, the Partnership paid an
affiliate of the Managing  General Partner  approximately  $8,000 for loan costs
related to the refinancing of The Village Apartments during the six months ended
June 30, 2002.  These costs were capitalized and are included in other assets on
the consolidated balance sheet.

During the six months ended June 30, 2002, the Managing General Partner advanced
the  Partnership  funds to cover  operational  expenses  totaling  approximately
$146,000 which were repaid by the Partnership prior to June 30, 2002. As of June
30,  2002,  there  were no  outstanding  advances  due to the  Managing  General
Partner.  Interest is charged at prime plus 1%. Interest expense on this advance
was approximately $1,000 for the six months ended June 30, 2002.

Beginning in 2001, the  Partnership  began insuring 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 six months ended June
30,  2002 and 2001,  the  Partnership  was  charged by AIMCO and its  affiliates
approximately $66,000 and $56,000, respectively, for insurance coverage and fees
associated with policy claims administration.

Note C - Refinancing of Mortgage Note Payable

On January 8, 2002,  the  Partnership  refinanced the mortgage  encumbering  The
Village Apartments. The refinancing replaced the first mortgage of approximately
$1,766,000 and the second mortgage of approximately  $61,000 with a new mortgage
in the amount of $3,633,000.  The new mortgage carries a stated interest rate of
7.22% as compared to the 7.83%  interest rate on the old  mortgage.  Payments on
the mortgage loan are due monthly until the loan matures on February 1, 2022, at
which time it is scheduled to be fully amortized.  Total  capitalized loan costs
were  approximately  $228,000  during the six months  ended June 30,  2002.  The
Partnership   recognized  a  loss  on  the  early   extinguishment  of  debt  of
approximately $89,000 during the six months ended June 30, 2002 due to the write
off of unamortized loan costs and debt discounts and prepayment  penalties paid.
In addition,  the Partnership was required to deposit approximately $82,000 in a
repair escrow account with the lender in order to complete  required  repairs at
the property.

On January  14,  2002,  the  Partnership  refinanced  the  mortgage  encumbering
Brighton  Crest  Apartments.  The  refinancing  replaced  the first  mortgage of
approximately  $5,743,000 and the second mortgage of approximately $199,000 with
a new mortgage in the amount of $10,640,000.  The new mortgage  carries a stated
interest  rate of  7.16%  as  compared  to the  7.83%  interest  rate on the old
mortgage.  Payments on the mortgage  loan are due monthly until the loan matures
on February 1, 2022, at which time it is scheduled to be fully amortized.  Total
capitalized loan costs were  approximately  $435,000 during the six months ended
June 30, 2002. The Partnership recognized a loss on early extinguishment of debt
of  approximately  $309,000 due to the write-off of  unamortized  loan costs and
debt discounts and prepayment penalties paid.

Note D - 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.  The  Joint  Venture  incurred  a net  loss  of
approximately  $149,000  during the six months ended June 30, 2002 due primarily
to the loss on early  extinguishment  of debt related to the  refinancing of the
property  in  January  2002 (see  "Note C") and  distributions  to the  minority
interest  partner in excess of its  investment  in the Joint  Venture.  When the
Joint Venture makes distributions in excess of the minority partners' investment
balance, the Partnership as the majority partner,  records a charge equal to the
minority partners' excess distribution over the investment balance,  even though
there is no  economic  impact,  cost or risk to the  Partnership.  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  interest  partner to the extent  they do not create a minority
deficit,  in which  case,  the  Partnership  recognizes  100% of the  losses  in
operating  income.  Losses  allocated to the minority partner for the six months
ended June 30, 2002 were  approximately  $26,000.  Distributions to the minority
partners' have reduced the investment balance below zero.

Note E - 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
purports  to  assert  claims  on  behalf  of a class  of  limited  partners  and
derivatively  on behalf  of a number  of  limited  partnerships  (including  the
Partnership)  which 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 which 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  seek  monetary
damages and equitable relief, including judicial dissolution of the Partnership.
On June 25, 1998, the Managing General Partner filed a motion seeking  dismissal
of the action.  In lieu of responding  to the motion,  the  plaintiffs  filed an
amended  complaint.  The Managing General Partner filed demurrers to the amended
complaint which were heard February 1999.

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims, subject to court approval, on behalf of the Partnership and all
limited partners who owned units as of November 3, 1999. Preliminary approval of
the  settlement  was obtained on November 3, 1999 from the Court,  at which time
the Court set a final  approval  hearing for  December  10,  1999.  Prior to the
December  10,  1999  hearing,  the  Court  received  various  objections  to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December 14, 1999, the Managing  General  Partner and its affiliates  terminated
the  proposed  settlement.  In  February  2000,  counsel  for some of the  named
plaintiffs filed a motion to disqualify plaintiff's lead and liaison counsel who
negotiated  the  settlement.  On June  27,  2000,  the  Court  entered  an order
disqualifying  them  from the case and an  appeal  was  taken  from the order on
October 5, 2000. On December 4, 2000, the Court  appointed the law firm of Lieff
Cabraser  Heimann & Bernstein  LLP as new lead  counsel for  plaintiffs  and the
putative class.  Plaintiffs filed a third amended complaint on January 19, 2001.
On March 2, 2001,  the  Managing  General  Partner  and its  affiliates  filed a
demurrer to the third amended  complaint.  On May 14, 2001,  the Court heard the
demurrer to the third amended  complaint.  On July 10, 2001, the Court issued an
order  sustaining  defendants'  demurrer on certain  grounds.  On July 20, 2001,
Plaintiffs filed a motion for reconsideration of the Court's July 10, 2001 order
granting in part and denying in part defendants' demurrer. On September 7, 2001,
Plaintiffs  filed a fourth amended class and  derivative  action  complaint.  On
September 12, 2001, the Court denied Plaintiffs' motion for reconsideration.  On
October 5, 2001, the Managing General Partner and affiliated  defendants filed a
demurrer to the fourth amended complaint,  which was heard on December 11, 2001.
On February 2, 2002,  the Court served its order  granting in part the demurrer.
The  Court has  dismissed  without  leave to amend  certain  of the  plaintiffs'
claims.  On February 11, 2002,  plaintiffs  filed a motion  seeking to certify a
putative  class  comprised of all  non-affiliated  persons who own or have owned
units  in  the  partnerships.   The  Managing  General  Partner  and  affiliated
defendants  oppose the motion.  On April 29,  2002,  the Court held a hearing on
plaintiffs' motion for class  certification and took the matter under submission
after further  briefing,  as ordered by the court, was submitted by the parties.
On July 10, 2002,  the Court entered an order vacating the current trial date of
January 13, 2003 (as well as the  pre-trial  and  discovery  cut-off  dates) and
stayed the case in its entirety through November 7, 2002 so that the parties can
have an opportunity to discuss settlement.

During the third  quarter of 2001, a complaint  (the "Heller  action") was filed
against  the same  defendants  that are named in the  Nuanes  action,  captioned
Heller v. Insignia Financial Group. On or about August 6, 2001, plaintiffs filed
a first amended  complaint.  The first amended complaint in the Heller action is
brought as a purported  derivative  action,  and asserts  claims for among other
things  breach  of  fiduciary  duty;  unfair  competition;   conversion,  unjust
enrichment;  and judicial  dissolution.  Plaintiffs in the Nuanes action filed a
motion to  consolidate  the Heller action with the Nuanes action and stated that
the Heller action was filed in order to preserve the derivative claims that were
dismissed  without  leave to amend in the Nuanes action by the Court order dated
July 10, 2001. On October 5, 2001, the Managing  General  Partner and affiliated
defendants  moved to strike the first  amended  complaint  in its  entirety  for
violating  the Court's July 10, 2001 order  granting in part and denying in part
defendants'  demurrer in the Nuanes action, or alternatively,  to strike certain
portions of the complaint based on the statute of limitations.  Other defendants
in the action  demurred to the fourth  amended  complaint,  and,  alternatively,
moved to strike the complaint. On December 11, 2001, the court heard argument on
the motions  and took the matters  under  submission.  On February 4, 2002,  the
Court  served  notice of its order  granting  defendants'  motion to strike  the
Heller complaint as a violation of its July 10, 2001 order in the Nuanes action.
On March 27, 2002,  the plaintiffs  filed a notice  appealing the order striking
the complaint. The parties are currently in the midst of briefing that appeal.

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

The  Partnership is unaware of any other pending or outstanding  litigation that
is not of a routine nature arising in the ordinary course of business.



<PAGE>




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

The  matters  discussed  in this Form  10-QSB  contain  certain  forward-looking
statements  and  involve  risks and  uncertainties  (including  changing  market
conditions,   competitive  and  regulatory   matters,   etc.)  detailed  in  the
disclosures  contained  in this  Form  10-QSB  and the  other  filings  with the
Securities and Exchange  Commission made by the  Partnership  from time to time.
The  discussion  of  the  Partnership's  business  and  results  of  operations,
including  forward-looking  statements pertaining to such matters, does not take
into  account  the  effects of any  changes to the  Partnership's  business  and
results of operation.  Accordingly,  actual results could differ materially from
those  projected in the  forward-looking  statements  as a result of a number of
factors, including those identified herein.

The Partnership's  investment  properties consist of three apartment  complexes.
The following  table sets forth the average  occupancy of the properties for the
six months ended June 30, 2002 and 2001:

                                                   Average Occupancy
      Property                                      2002       2001

      Brighton Crest Apartments                     93%        94%
         Marietta, Georgia
      The Fairway Apartments                        95%        97%
         Plano, Texas
      The Village Apartments                        96%        94%
         Brandon, Florida

Results of Operations

The Partnership realized a net loss of approximately $844,000 for the six months
ended June 30, 2002 compared to net income of approximately $481,000 for the six
months  ended June 30,  2001.  The  Partnership's  net loss for the three months
ended  June 30,  2002 was  approximately  $665,000  compared  to net  income  of
$250,000 for the three  months  ended June 30, 2001.  The decrease in net income
for the three and six month  periods  ended June 30, 2002 was due to an increase
in total  expenses,  a  decrease  in total  revenues  and  distributions  to the
minority partner in excess of investment in 2002 partially offset by an increase
in minority interest in loss from the joint venture.

The increase in total  expenses for the three and six months ended June 30, 2002
is due to the loss on  early  extinguishment  of debt  related  to the  mortgage
refinances  at Brighton  Crest and The Village  Apartments  in January 2002 (see
"Liquidity and Capital  Resources"),  and increases in interest and property tax
expenses partially offset by a decrease in operating expenses. Interest expenses
increased  due to the  refinancing  of the  mortgages at Brighton  Crest and The
Village  Apartments  in January 2002,  which  increased the debt balance at both
properties.  Property tax expense  increased  due to an increase in the assessed
value at Brighton Crest and The Village Apartments. Operating expenses decreased
due to decreases in property,  advertising  and maintenance  expenses  partially
offset by  increased  insurance  expense.  Property  expenses  decreased  due to
decreased  utility  expenses  primarily at The Fairway  Apartments.  Advertising
expenses  decreased  primarily due to reduced  referral  fees at Brighton  Crest
Apartments.  Maintenance  expenses  decreased  primarily due to reduced contract
labor at all of the Partnership's properties. Insurance expense increased due to
an increase in insurance premiums at all of the Partnership's properties.

General and administrative  expenses increased for the six months ended June 30,
2002 and  decreased for the three months ended June 30, 2002 due to the variable
nature of the cash flow from operations on which the subordinated management fee
payable to the Managing General Partner is based per the Partnership  Agreement.
General and administrative  expenses also include  management  reimbursements to
the Managing General Partner allowed under the Partnership Agreement,  the costs
associated  with the quarterly  communications  with  investors  and  regulatory
agencies and the annual audit required by the Partnership Agreement.

Total revenues decreased for the six months ended June 30, 2002 as a result of a
decrease in rental income.  Total revenues  decreased for the three months ended
June 30, 2002 as a result of a decrease in rental income  partially offset by an
increase in other income.  Rental  income  decreased for the three and six month
periods ended June 30, 2002  primarily due to a decrease in average rental rates
at Brighton Crest and The Village  Apartments,  decreased  occupancy at Brighton
Crest and The  Fairway  Apartments  and an increase  in renewal  concessions  at
Brighton  Crest  partially  offset by an increase in average rental rates at The
Fairway Apartments,  and increased  occupancy at The Village  Apartments.  Other
income increased for the three month period ended June 30, 2002 primarily due to
increased  utility  reimbursements  at  all  of  the  Partnership's   investment
properties.

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.  The  Joint  Venture  incurred  a net  loss  of
approximately  $149,000  during the six months ended June 30, 2002 due primarily
to the loss on early  extinguishment  of debt related to the  refinancing of the
property  in  January  2002 (see  "Note C") and  distributions  to the  minority
interest  partner in excess of its  investment  in the Joint  Venture.  When the
Joint Venture makes distributions in excess of the minority partners' investment
balance, the Partnership as the majority partner,  records a charge equal to the
minority partners' excess distribution over the investment balance,  even though
there is no  economic  impact,  cost or risk to the  Partnership.  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  interest  partner to the extent  they do not create a minority
deficit,  in which  case,  the  Partnership  recognizes  100% of the  losses  in
operating  income.  Losses  allocated to the minority partner for the six months
ended June 30, 2002 were  approximately  $26,000.  Distributions to the minority
partners'  have  reduced the  investment  balance  below zero.  The  increase in
minority  interest in loss from the Joint  Venture for the six months ended June
30, 2002 and the decrease in minority  interest in income from the Joint Venture
for the three months ended June 30, 2002 was  primarily due to the loss on early
extinguishment of debt and increased interest expense related to the refinancing
of Brighton Crest in January 2002, and reduced rental rates and occupancy at the
Joint Venture property, partially offset by reduced maintenance expenses.

As part of the ongoing  business plan of the  Partnership,  the Managing General
Partner  monitors  the  rental  market  environment  of each  of its  investment
properties  to assess  the  feasibility  of  increasing  rents,  maintaining  or
increasing  occupancy  levels and protecting the  Partnership  from increases in
expense.  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, due to
changing market  conditions,  which can result in the use of rental  concessions
and  rental  reductions  to  offset  softening  market  conditions,  there is no
guarantee that the Managing General Partner will be able to sustain such a plan.

Liquidity and Capital Resources

The Partnership held cash and cash equivalents of approximately $487,000 at June
30, 2002,  compared to approximately  $424,000 at June 30, 2001. The increase in
cash and cash equivalents of approximately  $56,000 from the Partnership's  cash
balance  at  December  31,  2001,  is due to  approximately  $1,032,000  of cash
provided by  operating  activities,  which was largely  offset by  approximately
$799,000 of cash used in financing activities and approximately $177,000 of cash
used in investing activities. Cash used in financing activities consisted of the
payoff of the  previous  mortgages  encumbering  Brighton  Crest and The Village
Apartments,  distributions  to  partners,  distributions  to  minority  interest
partner,   payments  of  principal  made  on  the  mortgages   encumbering   the
Partnership's  investment  properties,  loan costs paid,  payment of  prepayment
penalties  for  Brighton  Crest and The  Village  Apartments  and  repayment  of
advances from the Managing General Partner partially offset by the proceeds from
the debt  refinancing of Brighton Crest and The Village  Apartments and advances
from the Managing General Partner.  Cash used in investing  activities consisted
of property  improvements and  replacements  partially offset by net withdrawals
from escrow accounts maintained by the mortgage lenders. 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 various  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.   Capital
improvements planned for the Partnership's properties are detailed below.

Brighton Crest Apartments

During  the  six  months  ended  June  30,  2002,  the   Partnership   completed
approximately  $89,000  of  capital  improvements  at the  property,  consisting
primarily of floor covering replacements, appliances, plumbing upgrades and wall
coverings.  These  improvements  were  funded  from  replacement  reserves.  The
Partnership  has  budgeted,  but is not  limited  to,  capital  improvements  of
approximately  $169,000,  consisting  primarily of swimming pool  upgrades,  and
appliance  and  floor  covering  replacements.  Additional  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.

Fairway Apartments

During  the  six  months  ended  June  30,  2002,  the   Partnership   completed
approximately  $33,000  of  capital  improvements  at the  property,  consisting
primarily of floor covering  replacements,  structural  improvements,  and water
heater  replacements.  These  improvements were funded from operating cash flow.
The  Partnership  has budgeted,  but is not limited to, capital  improvements of
approximately   $83,000,   consisting   primarily  of  air   conditioning   unit
replacements, floor covering replacements, interior decoration, parking area and
swimming pool upgrades and water heater  replacements.  Additional  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  six  months  ended  June  30,  2002,  the   Partnership   completed
approximately  $105,000  of capital  improvements  at the  property,  consisting
primarily of floor  covering  replacements,  roof  replacement,  and  structural
improvements.  These  improvements  were funded from  replacement  reserves  and
operating  cash flow.  The  Partnership  has  budgeted,  but is not  limited to,
capital  improvements of  approximately  $113,000,  consisting  primarily of air
conditioning unit replacements,  floor covering replacements, roof replacements,
and structural improvements.  Additional 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 additional  capital  expenditures will be incurred only if cash is available
from operations or from Partnership  reserves.  To the extent that such budgeted
capital improvements are completed,  the Partnership's  distributable cash flow,
if any, may be adversely affected.

On January 8, 2002,  the  Partnership  refinanced the mortgage  encumbering  The
Village Apartments. The refinancing replaced the first mortgage of approximately
$1,766,000 and the second mortgage of approximately  $61,000 with a new mortgage
in the amount of $3,633,000.  The new mortgage carries a stated interest rate of
7.22% as compared to the 7.83%  interest rate on the old  mortgage.  Payments on
the mortgage loan are due monthly until the loan matures on February 1, 2022, at
which time it is scheduled to be fully amortized.  Total  capitalized loan costs
were  approximately  $228,000  during the six months  ended June 30,  2002.  The
Partnership   recognized  a  loss  on  the  early   extinguishment  of  debt  of
approximately $89,000 during the six months ended June 30, 2002 due to the write
off of unamortized loan costs and debt discounts and prepayment  penalties paid.
In addition,  the Partnership was required to deposit approximately $82,000 in a
repair escrow account with the lender in order to complete  required  repairs at
the property.

On January  14,  2002,  the  Partnership  refinanced  the  mortgage  encumbering
Brighton  Crest  Apartments.  The  refinancing  replaced  the first  mortgage of
approximately  $5,743,000 and the second mortgage of approximately $199,000 with
a new mortgage in the amount of $10,640,000.  The new mortgage  carries a stated
interest  rate of  7.16%  as  compared  to the  7.83%  interest  rate on the old
mortgage.  Payments on the mortgage  loan are due monthly until the loan matures
on February 1, 2022, at which time it is scheduled to be fully amortized.  Total
capitalized loan costs were  approximately  $435,000 during the six months ended
June 30, 2002. The Partnership recognized a loss on early extinguishment of debt
of  approximately  $309,000 due to the write-off of  unamortized  loan costs and
debt discounts and prepayment penalties paid.

The Partnership's  current assets are thought to be sufficient for any near-term
needs  (exclusive  of capital  improvements)  of the  Partnership.  The mortgage
indebtedness of approximately $20,522,000 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.

Pursuant to the Partnership Agreement,  the term of the Partnership is scheduled
to expire on December 31, 2011. Accordingly,  prior to such date the Partnership
will need to either  sell its  investment  properties  or extend the term of the
Partnership.

The Partnership  distributed  the following  amounts during the six months ended
June 30, 2002 and 2001 (in thousands, except per unit data):
<TABLE>
<CAPTION>

                      Six Months      Per Limited       Six Months      Per Limited
                        Ended         Partnership         Ended         Partnership
                    June 30, 2002         Unit        June 30, 2001         Unit

<S>                     <C>             <C>               <C>              <C>
Operations              $ 567           $ 19.38           $ 898            $30.70
Refinancing (1)          4,785           163.58              266             9.09
                        $5,352          $182.96           $1,164           $39.79
</TABLE>

(1)   Distributions  from the  refinancing  of  Brighton  Crest and The  Village
      Apartments during 2002 and The Fairway Apartments during 2001.

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.  The  Partnership's  cash  available for
distribution is reviewed on a monthly basis. There can be no assurance, however,
that the  Partnership  will generate  sufficient  funds from  operations,  after
required capital  improvements,  to permit further distributions to its partners
during the year 2002 or subsequent periods.

Other

In addition to its indirect  ownership of the managing  general partner interest
in the  Partnership,  AIMCO and its affiliates  currently own 16,045.75  limited
partnership  units in the  Partnership  representing  56.56% of the  outstanding
units at June 30, 2002. 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 of limited partnership  interest in the
Partnership  in  exchange  for cash or a  combination  of cash and  units in the
operating  partnership  of AIMCO  either  through  private  purchases  or tender
offers.  In this regard,  on June 25, 2002, a tender offer by AIMCO  Properties,
L.P. to acquire all of the units not owned by affiliates of AIMCO for a purchase
price of $157.00 per unit expired. Pursuant to this offer, AIMCO acquired 210.75
units during the quarter ended June 30, 2002.  Under the Partnership  Agreement,
unitholders  holding a majority  of the units are  entitled  to take action with
respect to a variety of matters which would include voting on certain amendments
to the Partnership  Agreement and voting to remove the Managing General Partner.
As a result of its ownership of 56.56% of the outstanding  units,  AIMCO is in a
position to control all such voting  decisions  with respect to the  Registrant.
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  Partnerships  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  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 an impairment in 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 will offer rental concessions during  particularly slow months or in
response  to  heavy  competition  from  other  similar  complexes  in the  area.
Concessions are charged to income as incurred.



<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
purports  to  assert  claims  on  behalf  of a class  of  limited  partners  and
derivatively  on behalf  of a number  of  limited  partnerships  (including  the
Partnership)  which 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 which 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  seek  monetary
damages and equitable relief, including judicial dissolution of the Partnership.
On June 25, 1998, the Managing General Partner filed a motion seeking  dismissal
of the action.  In lieu of responding  to the motion,  the  plaintiffs  filed an
amended  complaint.  The Managing General Partner filed demurrers to the amended
complaint which were heard February 1999.

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims, subject to court approval, on behalf of the Partnership and all
limited partners who owned units as of November 3, 1999. Preliminary approval of
the  settlement  was obtained on November 3, 1999 from the Court,  at which time
the Court set a final  approval  hearing for  December  10,  1999.  Prior to the
December  10,  1999  hearing,  the  Court  received  various  objections  to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December 14, 1999, the Managing  General  Partner and its affiliates  terminated
the  proposed  settlement.  In  February  2000,  counsel  for some of the  named
plaintiffs filed a motion to disqualify plaintiff's lead and liaison counsel who
negotiated  the  settlement.  On June  27,  2000,  the  Court  entered  an order
disqualifying  them  from the case and an  appeal  was  taken  from the order on
October 5, 2000. On December 4, 2000, the Court  appointed the law firm of Lieff
Cabraser  Heimann & Bernstein  LLP as new lead  counsel for  plaintiffs  and the
putative class.  Plaintiffs filed a third amended complaint on January 19, 2001.
On March 2, 2001,  the  Managing  General  Partner  and its  affiliates  filed a
demurrer to the third amended  complaint.  On May 14, 2001,  the Court heard the
demurrer to the third amended  complaint.  On July 10, 2001, the Court issued an
order  sustaining  defendants'  demurrer on certain  grounds.  On July 20, 2001,
Plaintiffs filed a motion for reconsideration of the Court's July 10, 2001 order
granting in part and denying in part defendants' demurrer. On September 7, 2001,
Plaintiffs  filed a fourth amended class and  derivative  action  complaint.  On
September 12, 2001, the Court denied Plaintiffs' motion for reconsideration.  On
October 5, 2001, the Managing General Partner and affiliated  defendants filed a
demurrer to the fourth amended complaint,  which was heard on December 11, 2001.
On February 2, 2002,  the Court served its order  granting in part the demurrer.
The  Court has  dismissed  without  leave to amend  certain  of the  plaintiffs'
claims.  On February 11, 2002,  plaintiffs  filed a motion  seeking to certify a
putative  class  comprised of all  non-affiliated  persons who own or have owned
units  in  the  partnerships.   The  Managing  General  Partner  and  affiliated
defendants  oppose the motion.  On April 29,  2002,  the Court held a hearing on
plaintiffs' motion for class  certification and took the matter under submission
after further  briefing,  as ordered by the court, was submitted by the parties.
On July 10, 2002,  the Court entered an order vacating the current trial date of
January 13, 2003 (as well as the  pre-trial  and  discovery  cut-off  dates) and
stayed the case in its entirety through November 7, 2002 so that the parties can
have an opportunity to discuss settlement.

During the third  quarter of 2001, a complaint  (the "Heller  action") was filed
against  the same  defendants  that are named in the  Nuanes  action,  captioned
Heller v. Insignia Financial Group. On or about August 6, 2001, plaintiffs filed
a first amended  complaint.  The first amended complaint in the Heller action is
brought as a purported  derivative  action,  and asserts  claims for among other
things  breach  of  fiduciary  duty;  unfair  competition;   conversion,  unjust
enrichment;  and judicial  dissolution.  Plaintiffs in the Nuanes action filed a
motion to  consolidate  the Heller action with the Nuanes action and stated that
the Heller action was filed in order to preserve the derivative claims that were
dismissed  without  leave to amend in the Nuanes action by the Court order dated
July 10, 2001. On October 5, 2001, the Managing  General  Partner and affiliated
defendants  moved to strike the first  amended  complaint  in its  entirety  for
violating  the Court's July 10, 2001 order  granting in part and denying in part
defendants'  demurrer in the Nuanes action, or alternatively,  to strike certain
portions of the complaint based on the statute of limitations.  Other defendants
in the action  demurred to the fourth  amended  complaint,  and,  alternatively,
moved to strike the complaint. On December 11, 2001, the court heard argument on
the motions  and took the matters  under  submission.  On February 4, 2002,  the
Court  served  notice of its order  granting  defendants'  motion to strike  the
Heller complaint as a violation of its July 10, 2001 order in the Nuanes action.
On March 27, 2002,  the plaintiffs  filed a notice  appealing the order striking
the complaint. The parties are currently in the midst of briefing that appeal.

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

ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K

            a)    Exhibits:

                  Exhibit 3.1, 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.

                  Exhibit 3.2,  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.

                  Exhibit 4.1,  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.

                  Exhibit 99,  Certification  of Chief  Executive  Officer and
                  Chief Financial Officer.

            b)    Reports on Form 8-K:

                  None filed during the quarter ended June 30, 2002.



<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/Patrick J. Foye
                                          Patrick J. Foye
                                          Executive Vice President


                                    By:   /s/Thomas C. Novosel
                                          Thomas C. Novosel
                                          Senior Vice President
                                          and Chief Accounting Officer


                                    Date: August 14, 2002


<PAGE>


Exhibit 99


                          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 June 30, 2002 as filed
with the Securities and Exchange  Commission on the date hereof (the  "Report"),
Patrick  J.  Foye,  as the  equivalent  of the Chief  Executive  Officer  of the
Partnership,  and Paul J.  McAuliffe,  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/  Patrick J. Foye
                                    Name:  Patrick J. Foye
                                    Date:  August 14, 2002


                                    /s/  Paul J. McAuliffe
                                    Name:  Paul J. McAuliffe
                                    Date:  August 14, 2002


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