SECURITIES AND EXCHANGE COMMISSION

                            WASHINGTON, D.C. 20549

                                  FORM 10-Q

(Mark One)

(x)   QUARTERLY  REPORT  PURSUANT  TO  SECTION  13 OR 15(d) OF THE  SECURITIES
      EXCHANGE ACT OF 1934

For the quarterly period ended       MARCH 31, 1997
                              --------------------------------------------------
                                      OR

( )  TRANSITION  REPORT  PURSUANT  TO  SECTION  13 OR 15(d) OF THE  SECURITIES
     EXCHANGE ACT OF 1934

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

Commission file number 2-77330
                      ----------------------------------------------------------


                           Property Resources Fund VI
--------------------------------------------------------------------------------
            (Exact name of registrant as specified in its charter)


                CALIFORNIA                                94-2838890
--------------------------------------------------------------------------------
(State or other jurisdiction of                           (I.R.S. Employer
 incorporation or organization)                            Identification No.)


                P. O. BOX 7777, SAN MATEO, CALIFORNIA 94403-7777
--------------------------------------------------------------------------------
             (Address of principal executive offices) (Zip Code)


Registrant's telephone number, including area code (415) 312-2000
                                                  ------------------------------


                                      N/A
--------------------------------------------------------------------------------
Former name, former address and former fiscal year, if changed since last report


   Indicate  by check mark  whether the  registrant  (1) has filed all reports
required to be filed by Section 13 or 15 (d) of the  Securities  Exchange  Act
of 1934  during the  preceding  12 months  (or 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

Limited Partnership Units Outstanding as of March 31, 1997:  21,585



                        PART I - FINANCIAL INFORMATION

                         ITEM 1. FINANCIAL STATEMENTS

                          PROPERTY RESOURCES FUND VI
                      (A CALIFORNIA LIMITED PARTNERSHIP)

                                BALANCE SHEETS
                     MARCH 31, 1997 AND DECEMBER 31, 1996
                                 (Unaudited)


(Dollars in thousands, except per share amounts)                1997      1996
-------------------------------------------------------------------------------
ASSETS:
Rental property:
  Land                                                        $2,239    $2,239
  Land improvements                                              781       763
  Buildings and improvements                                   7,174     7,174
  Furnishings and equipment                                    1,043     1,041
-------------------------------------------------------------------------------

                                                              11,237    11,217
  Less: accumulated depreciation                               4,492     4,420
-------------------------------------------------------------------------------

                                                               6,745     6,797

Cash and cash equivalents                                        298       279
Note receivable                                                  306       320
Other assets                                                     318       413
-------------------------------------------------------------------------------

   Total assets                                               $7,667    $7,809
===============================================================================

LIABILITIES AND STOCKHOLDERS' EQUITY:
Note payable                                                  $6,879    $6,986
Advances from General Partner                                     84       153
Accrued interest due to General Partner                          526       524
Deposits and other liabilities                                   195       275
-------------------------------------------------------------------------------

   Total liabilities                                           7,684     7,938
-------------------------------------------------------------------------------

Partners' capital (deficit):
  Limited partners, 21,585 units
   issued and outstanding                                        440       334
  General Partner                                              (457)     (463)
-------------------------------------------------------------------------------

   Total partners' capital (deficit)                            (17)     (129)
-------------------------------------------------------------------------------

   Total liabilities and
    partners' capital (deficit)                               $7,667    $7,809
===============================================================================








  The accompanying notes are an intregal part of these financial statements.

                          PROPERTY RESOURCES FUND VI
                      (A CALIFORNIA LIMITED PARTNERSHIP)

                           STATEMENTS OF OPERATIONS
          FOR THE THREE MONTH PERIODS ENDED MARCH 31, 1997 AND 1996
                                  (Unaudited)




(Dollars in thousands, except per share amounts)                 1997     1996
-------------------------------------------------------------------------------

REVENUE:

  Rent                                                           $507     $480
  Interest and dividends                                           10       10
-------------------------------------------------------------------------------

    Total revenue                                                 517      490
-------------------------------------------------------------------------------

EXPENSES:
  Interest, other than related party                               48        -
  Depreciation and amortization                                    75       74
  Operating                                                       241      258
  Related party                                                    33       83
  General and administrative                                        8        6
-------------------------------------------------------------------------------

    Total expenses                                                405      421
-------------------------------------------------------------------------------

NET INCOME                                                       $112      $69
===============================================================================



Net income allocable to limited partners                         $106      $66
===============================================================================

Net income allocable to General Partner                            $6       $3
===============================================================================

Net income per $500 limited partnership unit-
  based on 21,585 units outstanding                             $4.91    $3.06
-------------------------------------------------------------------------------












  The accompanying notes are an intregal part of these financial statements.




                          PROPERTY RESOURCES FUND VI
                      (A CALIFORNIA LIMITED PARTNERSHIP)

                           STATEMENTS OF CASH FLOWS
          FOR THE THREE MONTH PERIODS ENDED MARCH 31, 1997 AND 1996
                                 (Unaudited)




(Dollars in thousands)                                          1997      1996
-------------------------------------------------------------------------------
Cash flows from operating activities:

Net income                                                      $112       $69
-------------------------------------------------------------------------------

Adjustments to reconcile net income to
 net cash provided by operating activities:
   Depreciation and amortization                                  75        74
   (Increase) decrease in other assets                            92      (73)
   Increase in accrued interest                                    2        10
   Decrease in deposits and other liabilities                   (80)      (73)
-------------------------------------------------------------------------------

                                                                  89      (62)
-------------------------------------------------------------------------------

Net cash provided by operating activities                        201         7
-------------------------------------------------------------------------------

Cash flow from investing activities:
   Improvements to rental property                              (20)       (8)
   Principal received on note receivable                          14        13
-------------------------------------------------------------------------------

Net cash (used in) provided by investing activities              (6)         5
-------------------------------------------------------------------------------

   Principal payments on notes payable                         (107)     (105)
   Principal payments to General Partner                        (69)      (69)
-------------------------------------------------------------------------------

Net cash used in financing activities                          (176)     (174)
-------------------------------------------------------------------------------

Net increase (decrease) in cash and
 cash equivalents                                                 19     (162)

Cash and cash equivalents,
 beginning of period                                             279       251
-------------------------------------------------------------------------------

Cash and cash equivalents,
 end of period                                                  $298       $89
===============================================================================







  The accompanying notes are an intregal part of these financial statements.



                          PROPERTY RESOURCES FUND VI
                      (A CALIFORNIA LIMITED PARTNERSHIP)

                        NOTES TO FINANCIAL STATEMENTS
                                   MARCH 31, 1997


NOTE 1 - BASIS OF PRESENTATION

The  accompanying  financial  statements  of Property  Resources  Fund VI (the
`Partnership')  have been  prepared  in  accordance  with  generally  accepted
accounting   principles   applicable  to  interim  financial  information  and
pursuant  to  the  rules  and  regulations  of  the  Securities  and  Exchange
Commission.   Accordingly,   certain  information  and  footnote   disclosures
normally  included  in  financial   statements  prepared  in  accordance  with
generally  accepted  accounting  principles  have been  condensed  or  omitted
pursuant  to  such  rules  and  regulations.   However,   in  the  opinion  of
management, all adjustments,  consisting only of normal recurring adjustments,
necessary for a fair  presentation  have been included.  The Company  presumes
that  users of the  interim  financial  information  herein  have read or have
access to the audited  financial  statements for the preceding fiscal year and
that the adequacy of additional  disclosure needed for a fair presentation may
be determined in that context.  Accordingly,  footnote  disclosure which would
substantially  duplicate the disclosure  contained in the  Partnership's  1996
10-K has been omitted

NOTE 2 - CLEARLAKE VILLAGE APARTMENTS

On August 12, 1996, the loan  collateralized by the property Clearlake Village
Apartments  and  payable to  Franklin  Resources,  Inc.  an  affiliate  of the
General  Partner (the "Previous  Loan") was refinanced and replaced with a new
loan (the "Replacement  Loan") from an unaffiliated  third party,  First Union
National  Bank of  North  Carolina  (the  "Lender").  As a  condition  for the
refinance,  the Lender  required  that the Property be held in an entity which
owns only one  substantial  asset.  To meet this  condition,  the Property was
contributed to a new entity, Property Resources Fund VI Subsidiary,  L.P. (the
"Subsidiary").  The sole limited  partner of the Subsidiary is the Partnership
and the general  partner is Property  Resources,  Inc.  The  formation  of the
subsidiary  should  have  no  material  effect  in  cash or  profit  and  loss
allocations  between  the  Partnership  and the  General  Partner,  nor is the
amount of any fees payable to the General Partner increased thereby.

The amount of the Replacement  Loan, which is  collateralized  by the property
Clearlake  Village  Apartment,  is  $2,167,000,  the term is 10 years  and the
interest rate is 8.875%.  Principal  and interest  payments of $17,571 are due
monthly  until  maturity of the loan when the remaining  unpaid  principal and
accrued  interest  balances  will become due.  The  Replacement  Loan which is
collateralized by the property  Clearlake  Village  Apartments is non-recourse
to the  Partnership,  but is recourse to the General  Partner,  but only under
certain  conditions  including losses resulting from the presence of hazardous
substances  and from fraud.  The cash  proceeds from the loan were used to pay
off the Previous Loan, to fund escrow accounts for property  taxes,  insurance
and  capital  improvements,  and to pay  Lender  fees  and  costs  as  well as
unaffiliated  mortgage broker  commissions.  The remaining funds were added to
the reserves of the Partnership.



                          PROPERTY RESOURCES FUND VI
                      (A CALIFORNIA LIMITED PARTNERSHIP)


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

INTRODUCTION

Management's  discussion  and analysis of financial  condition  and results of
operations  should be read in  conjunction  with the Financial  Statements and
Notes thereto.

RESULTS OF OPERATIONS

COMPARISON OF THE THREE MONTH PERIODS ENDED MARCH 31, 1996 AND 1997

Net income for the three month period ended March 31, 1997 increased  $43,000,
or 62%,  compared to 1996 as a result of the increase in rental  revenue and a
decrease in operating expense.

Total  revenue for the three  month  period  ended  March 31,  1997  increased
$27,000,  or 6%, primarily as a result of an increase in rental revenue at the
Grouse Run Apartments.  The increase in rental revenue was  attributable to an
increase  in  the  average  occupancy  and  rental  rates  at the  Grouse  Run
Apartments.  For the three  month  periods  ended  March 31, 1997 and 1996 the
average occupancy rate at Grouse Run Apartments was 94% and 91%, respectively.

Total expenses  decreased  $16,000,  or 4%, from $421,000 in 1996 to $405,000.
The decrease in total  expenses was  primarily  attributable  to a decrease in
operating  expense of $17,000 by the  Partnership's  two remaining  properties
reflecting decreases in utilities, repairs and maintenance expenses.

LIQUIDITY AND CAPITAL RESOURCES

In July,  1983,  the  Partnership  completed a public  offering of its limited
partnership  units with total proceeds of $10,795,500  from the sale of 21,585
limited  partnership  units. The Partnership  acquired five properties with an
aggregate cost of $23,526,000.

As  of  March  31,  1997,  the  Partnership  had  two  operating   properties:
Clearlake  Village  Apartments  and Grouse Run  Apartments.  The buildings and
the land upon  which the  buildings  are  located  are owned  directly  by the
Partnership in fee.  All Partnership properties are subject to mortgages.

As of March  31,  1997,  cash and cash  equivalents  totaled  $298,000.  As of
March 31,  1997,  the  General  Partner had  advanced,  $84,000  plus  accrued
interest  of  $526,000,   to  the  Partnership  to  pay  for  various  capital
improvements  and  to  support  operating  cash  flow  deficits.  The  General
Partner   presently   intends  to  continue  to  make  such  advances  to  the
Partnership  as  necessary.   Consequently,   management   believes  that  the
Partnership's  current  sources  of funds  will be  adequate  to meet both its
short-term and long-term capital commitments and operating requirements.





                          PROPERTY RESOURCES FUND VI
                      (A CALIFORNIA LIMITED PARTNERSHIP)


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

LIQUIDITY AND CAPITAL RESOURCES (CONTINUED)

On August 12, 1996, the loan  collateralized by the property Clearlake Village
Apartments  and  payable to  Franklin  Resources,  Inc.  an  affiliate  of the
General  Partner (the "Previous  Loan") was refinanced and replaced with a new
loan (the "Replacement  Loan") from an unaffiliated  third party,  First Union
National  Bank of  North  Carolina  (the  "Lender").  As a  condition  for the
refinance,  the Lender  required  that the Property be held in an entity which
owns only one  substantial  asset.  To meet this  condition,  the Property was
contributed to a new entity, Property Resources Fund VI Subsidiary,  L.P. (the
"Subsidiary").  The sole limited  partner of the Subsidiary is the Partnership
and the general  partner is Property  Resources,  Inc.  The  formation  of the
Subsidiary  should  have  no  material  effect  in  cash or  profit  and  loss
allocations  between  the  Partnership  and the  General  Partner,  nor is the
amount of any fees payable to the General Partner increased thereby.

The amount of the  Replacement  Loan is  $2,167,000,  the term is 10 years and
the interest rate is 8.875%.  Principal  and interest  payments of $17,571 are
due monthly  until  maturity of the loan when the remaining  unpaid  principal
and accrued  interest  balances will become due. The Replacement Loan which is
collateralized by the property  Clearlake  Village  Apartments is non-recourse
to the  Partnership,  but is recourse to the General  Partner,  but only under
certain  conditions  including losses resulting from the presence of hazardous
substances  and from fraud.  The cash  proceeds from the loan were used to pay
off the Previous Loan, to fund escrow accounts for property  taxes,  insurance
and  capital  improvements,  and to pay  Lender  fees  and  costs  as  well as
unaffiliated  mortgage broker  commissions.  The remaining funds were added to
the reserves of the Partnership.

The  Partnership   presently  believes  that  funds  available  from  improved
operations  and from its note  receivable  due in 1999 will permit it to repay
advances owed to the General  Partner.  The Partnership also believes that the
present trend toward  improved  operations at its properties will permit it to
repay  the  Grouse  Run note  payable  due in 1999  either  from the sale of a
property or a loan refinancing.

Net cash  provided by  operating  activities  for the three month period ended
March 31, 1997 was  $201,000,  or $194,000  more than the same period in 1996.
The  increase  was  primarily  due  to an to an  increase  in  net  income  as
described under "Results of Operations" and to a decrease in other assets.

Net cash  provided by  investing  activities  for the three month period ended
March 31, 1997,  decreased  $11,000 when  compared to the same period in 1996.
The decrease was due to an increase in improvements to rental property.

IMPACT OF INFLATION
The  Partnership's  management  believes  that  inflation  may have a positive
effect on the  Partnership's  property  portfolio,  but this effect  generally
will not be fully realized until such properties are sold or exchanged.





                          PROPERTY RESOURCES FUND VI
                      (A CALIFORNIA LIMITED PARTNERSHIP)

                         PART II - OTHER INFORMATION


ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K


(a)   Not applicable

(b)   Reports on Form 8-K

      No reports on Form 8-K were filed by the  Registrant  during the quarter
ended March 31, 1997.





                                  SIGNATURE


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.




                                    PROPERTY RESOURCES FUND VI


                                    By:  /S/ DAVID P. GOSS
                                       David P. Goss
                                       Chief Executive Officer


                                    Date:   MAY 14, 1997