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 March 31, 2005


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


             For the transition period from _________to _________

                         Commission file number 0-11934


                          CENTURY PROPERTIES FUND XVIII
        (Exact name of small business issuer as specified in its charter)



         California                                              94-2834149
(State or other jurisdiction of                               (I.R.S. Employer
 incorporation or organization)                              Identification No.)

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

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


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




<PAGE>



                         PART I - FINANCIAL INFORMATION


ITEM 1.     FINANCIAL STATEMENTS


                          CENTURY PROPERTIES FUND XVIII
                           CONSOLIDATED BALANCE SHEET
                                   (Unaudited)
                        (in thousands, except unit data)

                                 March 31, 2005

<TABLE>
<CAPTION>



Assets
<S>                                                                          <C>
   Cash and cash equivalents                                                 $ 117
   Receivables and deposits                                                     216
   Restricted escrows                                                            82
   Other assets                                                                 306
   Investment property:
      Land                                                   $ 6,218
      Buildings and related personal property                  12,527
                                                               18,745
      Less accumulated depreciation                            (8,640)       10,105
                                                                           $ 10,826
Liabilities and Partners' (Deficiency) Capital
Liabilities
   Accounts payable                                                          $ 51
   Other liabilities                                                            105
   Accrued property taxes                                                        81
   Tenant security deposit liabilities                                           41
   Due to affiliates (Note B)                                                 2,454
   Mortgage note payable                                                      8,500

Partners' (Deficiency) Capital
   General partner                                           $ (5,374)
   Limited partners (75,000 units issued and
      outstanding)                                              4,968          (406)
                                                                           $ 10,826

         See Accompanying Notes to Consolidated Financial Statements
</TABLE>




<PAGE>





                          CENTURY PROPERTIES FUND XVIII
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
                      (in thousands, except per unit data)


<TABLE>
<CAPTION>

                                                             Three Months Ended
                                                                 March 31,
                                                           2005             2004
Revenues:
<S>                                                       <C>               <C>
   Rental income                                          $ 501             $ 467
   Other income                                               54                82
      Total revenues                                         555               549

Expenses:
   Operating                                                 300               261
   General and administrative                                 52                49
   Depreciation                                              137               119
   Interest                                                  175               189
   Property tax                                               81                78
      Total expenses                                         745               696

Net loss                                                  $ (190)          $ (147)

Net loss allocated to general partner (9.9%)              $ (19)            $ (14)
Net loss allocated to limited partners (90.1%)              (171)             (133)
                                                          $ (190)          $ (147)

Net loss per limited partnership unit                    $ (2.28)          $ (1.77)


         See Accompanying Notes to Consolidated Financial Statements
</TABLE>



<PAGE>



                        CENTURY PROPERTIES FUND XVIII
     CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' (DEFICIENCY) CAPITAL
                                   (Unaudited)
                        (in thousands, except unit data)


<TABLE>
<CAPTION>

                                     Limited
                                   Partnership    General      Limited
                                      Units       Partner      Partners      Total

<S>                                   <C>           <C>        <C>          <C>
Original capital contributions        75,000        $ --       $75,000      $75,000

Partners' (deficiency) capital
   at December 31, 2004               75,000      $(5,355)     $ 5,139       $ (216)

Net loss for the three months
   ended March 31, 2005                   --          (19)        (171)        (190)

Partners' (deficiency) capital
   at March 31, 2005                  75,000      $(5,374)     $ 4,968       $ (406)

         See Accompanying Notes to Consolidated Financial Statements
</TABLE>


                          CENTURY PROPERTIES FUND XVIII
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                 (in thousands)
<TABLE>
<CAPTION>

                                                                   Three Months Ended
                                                                        March 31,
                                                                    2005         2004
Cash flows from operating activities:
<S>                                                                <C>          <C>
  Net loss                                                         $ (190)      $ (147)
  Adjustments to reconcile net loss to net cash used in
   operating activities:
     Depreciation                                                      137          119
     Bad debt expense                                                   17           37
     Amortization of loan costs                                         17            9
     Change in accounts:
      Receivables and deposits                                         217          (29)
      Other assets                                                     (34)         (67)
      Accounts payable                                                  11           70
      Other liabilities                                                (27)          (6)
      Accrued property taxes                                          (236)        (236)
      Tenant security deposit liabilities                               --           (2)
      Due to affiliates                                                 76           --
        Net cash used in operating activities                          (12)        (252)

Cash flows from investing activities:
  Property improvements and replacements                               (48)         (49)
  Net deposits to restricted escrows                                   (19)         (37)
        Net cash used in investing activities                          (67)         (86)

Cash flows from financing activities:
  Payments on mortgage notes payable                                    --          (39)
  Advances from affiliates                                             103           --
  Loan costs paid                                                      (10)          --
        Net cash provided by (used in) financing activities             93          (39)

Net increase (decrease) in cash and cash equivalents                    14         (377)
Cash and cash equivalents at beginning of period                       103          683
Cash and cash equivalents at end of period                          $ 117        $ 306

Supplemental disclosure of cash flow information:
  Cash paid for interest                                            $ 112        $ 181
Supplemental disclosure of non-cash flow information:
  Property improvements and replacements included in
    accounts payable                                                $ 15         $ --

At  December  31,  2004,  approximately  $12,000 of  property  improvements  and
replacements  were  included in accounts  payable which are included in property
improvements and replacements during the three months ended March 31, 2005.

         See Accompanying Notes to Consolidated Financial Statements
</TABLE>



<PAGE>





                          CENTURY PROPERTIES FUND XVIII
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


Note A - Basis of Presentation

The  accompanying   unaudited   consolidated  financial  statements  of  Century
Properties Fund XVIII (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.  The Partnership's  general partner is Fox Partners.  The
general partners of Fox Partners are Fox Capital Management  Corporation ("FCMC"
or the  "Managing  General  Partner"),  Fox  Realty  Investors  ("FRI")  and Fox
Partners  82. The Managing  General  Partner,  as well as the  managing  general
partner of FRI, are affiliates of Apartment  Investment  and Management  Company
("AIMCO"), a publicly traded real estate investment trust. In the opinion of the
Managing  General  Partner,  all  adjustments  (consisting  of normal  recurring
accruals)  considered  necessary  for a fair  presentation  have been  included.
Operating  results  for the three  month  period  ended  March 31,  2005 are not
necessarily  indicative  of the results that may be expected for the fiscal year
ending  December 31, 2005. For further  information,  refer to the  consolidated
financial  statements and footnotes included in the Partnership's  Annual Report
on Form 10-KSB for the year ended December 31, 2004.

Reclassification:

Certain balances from 2004 have been reclassified to conform to the current year
presentation.

Note B - Transactions with Affiliated Parties

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

Affiliates of the Managing General Partner receive 5% of gross receipts from the
Partnership's   property  for  providing  property  management   services.   The
Partnership  paid to such affiliates  approximately  $28,000 and $27,000 for the
three months ended March 31, 2005 and 2004,  respectively,  which is included in
operating expenses.

An  affiliate  of  the  Managing   General   Partner   charged  the  Partnership
reimbursement of accountable  administrative expenses amounting to approximately
$35,000  and  $28,000  for the  three  months  ended  March  31,  2005 and 2004,
respectively, which is included in general and administrative expenses. At March
31, 2005,  approximately $109,000 of reimbursements for services were accrued by
the  Partnership  and are  included  in due to  affiliates  on the  accompanying
consolidated balance sheet.

As  compensation  for the  services  rendered in managing the  Partnership,  the
Managing  General  Partner is entitled to receive a Partnership  Management  Fee
equal to 9% of  distributions  from  operations  as defined  in the  Partnership
Agreement.  During the three  months  ended March 31, 2005 and 2004,  no amounts
were paid to the Managing General Partner as there were no distributions.

An  affiliate  of  the  Managing  General  Partner  has  made  available  to the
Partnership  a  credit  line  of  up to  $150,000  per  property  owned  by  the
Partnership. During the three months ended March 31, 2005 approximately $103,000
was  advanced  to Oak Run  Apartments  for  operating  expenses.  There  were no
advances for the three  months  ended March 31, 2004.  During the second half of
2004, an affiliate of the Managing  General  Partner  agreed to advance funds in
excess of the  $150,000  line of credit to fund  operating  expenses  of Oak Run
Apartments,  costs  associated with obtaining a new mortgage on the property and
an amount to cover the deficiency  between the existing  mortgage  payoff amount
and the new mortgage.  During the second half of 2004  approximately  $2,227,000
was advanced for these purposes.  At March 31, 2005 the outstanding  balance was
approximately  $2,345,000  including accrued  interest.  Interest accrues at the
prime  rate plus 2% (7.75% at March 31,  2005).  Interest  expense  amounted  to
approximately $40,000 for the three months ended March 31, 2005.

The  Partnership  insures its  property 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 property above the AIMCO limits through
insurance  policies  obtained  by  AIMCO  from  insurers  unaffiliated  with the
Managing  General  Partner.  During the three months  ended March 31, 2005,  the
Partnership  was charged by AIMCO and its affiliates  approximately  $24,000 for
hazard insurance coverage and fees associated with policy claims administration.
Additional  charges  will be  incurred by the  Partnership  during 2005 as other
insurance policies renew later in the year. The Partnership was charged by AIMCO
and its  affiliates  approximately  $39,000  for  insurance  coverage  and  fees
associated with policy claims  administration during the year ended December 31,
2004.

Note C - Contingencies

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial Group, Inc., et al. (the "Nuanes action") in the Superior Court of the
State of  California  for the  County  of San  Mateo.  The  plaintiffs  named as
defendants,  among others,  the  Partnership,  its Managing  General Partner and
several of their  affiliated  partnerships  and corporate  entities.  The action
purported  to  assert  claims  on  behalf  of a class of  limited  partners  and
derivatively  on behalf  of a number  of  limited  partnerships  (including  the
Partnership)  that are named as nominal  defendants,  challenging,  among  other
things,  the  acquisition  of  interests  in certain  Managing  General  Partner
entities by Insignia Financial Group, Inc.  ("Insignia") and entities that were,
at one  time,  affiliates  of  Insignia;  past  tender  offers  by the  Insignia
affiliates to acquire limited partnership units;  management of the partnerships
by the  Insignia  affiliates;  and the series of  transactions  which  closed on
October 1, 1998 and February 26, 1999 whereby  Insignia and Insignia  Properties
Trust,  respectively,  were merged into AIMCO.  The plaintiffs  sought  monetary
damages and equitable relief, including judicial dissolution of the Partnership.
In addition,  during the third quarter of 2001, a complaint  captioned Heller v.
Insignia  Financial  Group (the  "Heller  action")  was filed  against  the same
defendants  that are named in the  Nuanes  action.  On or about  August 6, 2001,
plaintiffs filed a first amended  complaint.  The Heller action was brought as a
purported derivative action, and asserted claims for, among other things, breach
of fiduciary  duty,  unfair  competition,  conversion,  unjust  enrichment,  and
judicial  dissolution.  On January 28, 2002, the trial court granted  defendants
motion to strike the complaint.

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

On June 13, 2003, the court granted final approval of the settlement and entered
judgment in both the Nuanes and Heller actions.  On August 12, 2003, an objector
("Objector") filed an appeal (the "Appeal") seeking to vacate and/or reverse the
order approving the settlement and entering  judgment  thereto.  On May 4, 2004,
the Objector filed a second appeal  challenging the court's use of a referee and
its order requiring Objector to pay those fees.

On March 21, 2005, the Court of Appeals issued opinions in both pending appeals.
With regard to the settlement and judgment entered thereto, the Court of Appeals
vacated  the trial  court's  order and  remanded  to the trial court for further
findings  on the basis that the "state of the record is  insufficient  to permit
meaningful  appellate  review".  With regard to the second appeal,  the Court of
Appeals  reversed the order requiring the Objector to pay referee fees. On April
26, 2005,  the Court of Appeals  lifted the stay of a pending  appeal related to
the Heller action and the trial court's order striking the  complaint.  On April
28, 2005, the Objector  filed a Petition for Review with the California  Supreme
Court in connection with the opinion vacating the order approving settlement and
remanding for further findings.  The Managing General Partner and its affiliates
are  currently  scheduled  to file an answer to  Objector's  petition on May 18,
2005.

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

AIMCO  Properties  L.P.  and NHP  Management  Company,  both  affiliates  of the
Managing  General  Partner,  are  defendants  in a  lawsuit  alleging  that they
willfully  violated  the Fair Labor  Standards  Act  ("FLSA")  by failing to pay
maintenance  workers  overtime for all hours worked in excess of forty per week.
The complaint  attempts to bring a collective action under the FLSA and seeks to
certify state subclasses in California,  Maryland, and the District of Columbia.
Specifically,  the  plaintiffs  contend  that  AIMCO  Properties  L.P.  and  NHP
Management Company failed to compensate  maintenance  workers for time that they
were  required  to be  "on-call."  Additionally,  the  complaint  alleges  AIMCO
Properties  L.P. and NHP  Management  Company  failed to comply with the FLSA in
compensating  maintenance  workers for time that they worked in  responding to a
call  while  "on-call."  The  defendants  have  filed an answer  to the  amended
complaint  denying the substantive  allegations.  Oral argument  relating to the
certification  of the  collective  action  took  place  on May 12,  2005 and the
parties await a ruling from the Court. Although the outcome of any litigation is
uncertain,  AIMCO  Properties,  L.P. does not believe that the ultimate  outcome
will have a material  adverse  effect on its  financial  condition or results of
operations.  Similarly,  the Managing  General Partner does not believe that the
ultimate  outcome  will have a  material  adverse  effect  on the  Partnership's
consolidated financial condition or results of operations.

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

Environmental

Various  Federal,  state and local laws subject  property owners or operators to
liability for management,  and the costs of removal or  remediation,  of certain
hazardous  substances  present on a property.  Such laws often impose  liability
without regard to whether the owner or operator knew of, or was responsible for,
the release or presence of the  hazardous  substances.  The  presence of, or the
failure to manage or remedy properly,  hazardous substances may adversely affect
occupancy at affected  apartment  communities and the ability to sell or finance
affected properties.  In addition to the costs associated with investigation and
remediation  actions brought by government  agencies,  the presence of hazardous
substances  on a  property  could  result in claims by  private  plaintiffs  for
personal injury,  disease,  disability or other  infirmities.  Various laws also
impose  liability for the cost of removal,  remediation or disposal of hazardous
substances  through a  licensed  disposal  or  treatment  facility.  Anyone  who
arranges for the disposal or treatment of hazardous  substances  is  potentially
liable  under such laws.  These laws often impose  liability  whether or not the
person arranging for the disposal ever owned or operated the disposal  facility.
In connection with the ownership and operation of its property,  the Partnership
could  potentially be liable for  environmental  liabilities or costs associated
with its property.

Mold

The Partnership is aware of lawsuits  against owners and managers of multifamily
properties asserting claims of personal injury and property damage caused by the
presence of mold, some of which have resulted in substantial  monetary judgments
or settlements. The Partnership has only limited insurance coverage for property
damage loss claims  arising from the  presence of mold and for  personal  injury
claims related to mold exposure. Affiliates of the Managing General Partner have
implemented a national  policy and  procedures to prevent or eliminate mold from
its properties  and the Managing  General  Partner  believes that these measures
will  eliminate,  or at least  minimize,  the  effects  that mold  could have on
residents.  To date,  the  Partnership  has not incurred  any material  costs or
liabilities  relating to claims of mold  exposure  or to abate mold  conditions.
Because the law  regarding  mold is unsettled and subject to change the Managing
General  Partner  can make no  assurance  that  liabilities  resulting  from the
presence of or exposure to mold will not have a material  adverse  effect on the
Partnership's consolidated financial condition or results of operations.

SEC Investigation

The  Central  Regional  Office of the  United  States  Securities  and  Exchange
Commission (the "SEC") is conducting a formal investigation  relating to certain
matters.  Although  the staff of the SEC is not limited in the areas that it may
investigate,   AIMCO  believes  the  areas  of  investigation   include  AIMCO's
miscalculated   monthly  net  rental  income  figures  in  third  quarter  2003,
forecasted  guidance,  accounts  payable,  rent  concessions,   vendor  rebates,
capitalization of payroll and certain other costs, and tax credit  transactions.
At the end of the first quarter of 2005, the SEC added certain tender offers for
limited partnership interests as an area of investigation.  AIMCO is cooperating
fully.  AIMCO is not able to predict  when the  investigation  will be resolved.
AIMCO does not believe  that the ultimate  outcome will have a material  adverse
effect  on its  consolidated  financial  condition  or  results  of  operations.
Similarly,  the  Managing  General  Partner  does not believe  that the ultimate
outcome will have a material  adverse effect on the  Partnership's  consolidated
financial condition or results of operations.

<PAGE>

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

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

The Partnership's  investment  property consists of one apartment  complex.  The
following  table sets forth the average  occupancy of the property for the three
months ended March 31, 2005 and 2004.

                                                   Average Occupancy
      Property                                      2005       2004

      Oak Run Apartments                            84%        79%
        Dallas, Texas

Occupancy at Oak Run Apartments  increased as a result of increased  advertising
and a lowering of the average rental rate to make the property more  competitive
in its market area.

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

Results of Operations

The Partnership  recognized a net loss of  approximately  $190,000 for the three
months ended March 31, 2005 compared to a net loss of approximately $147,000 for
the three  months  ended March 31,  2004.  The increase in net loss is due to an
increase  in total  expenses  partially  offset  by a slight  increase  in total
revenues. Total revenues increased due to an increase in rental income partially
offset by a decrease in other income. Rental income increased due to an increase
in occupancy at Oak Run Apartments as discussed above and a decrease in bad debt
expense  which were  partially  offset by a decrease in the average  rental rate
charged.  Other income decreased due to a decrease in lease  cancellation  fees,
late  charges  and  cleaning  and damage  fees at the  Partnership's  investment
property.

Total  expenses  increased  for the three  months  ended  March 31,  2005 due to
increases in operating and depreciation  expenses partially offset by a decrease
in interest  expense.  General and  administrative  and  property  tax  expenses
remained  relatively  constant for the  comparable  periods.  Operating  expense
increased due to increases in advertising,  property and  maintenance  expenses.
Advertising expense increased due to an increase in periodicals  advertising and
leasing promotions in an effort to increase  occupancy levels.  Property expense
increased  due to an increase in leasing  personnel  cost.  Maintenance  expense
increased  due  to  an  increase  in  contract  services  at  the  Partnership's
investment property. Depreciation expense increased due to property improvements
and  replacements  being placed into service during the past twelve months which
are now being depreciated.  Interest expense decreased due to the refinancing of
the mortgage encumbering Oak Run Apartments in October 2004 as discussed below.

Included in general and administrative expenses for the three months ended March
31,  2005 and 2004 are the  annual  partnership  and  investor  service  fees as
allowed under the Partnership Agreement. In addition,  costs associated with the
quarterly and annual  communications  with investors and regulatory agencies and
the annual audit required by the Partnership Agreement are also included.

Liquidity and Capital Resources

At  March  31,  2005,  the  Partnership   had  cash  and  cash   equivalents  of
approximately  $117,000  compared to  approximately  $306,000 at March 31, 2004.
Cash and cash equivalents increased approximately $14,000 from December 31, 2004
due to approximately  $93,000 of cash provided by financing activities partially
offset by  approximately  $67,000  and  $12,000  of cash used in  investing  and
operating  activities,  respectively.  Cash  provided  by  financing  activities
consisted  of  advances  from  affiliates  partially  offset by the  payment  of
additional loan costs. Cash used in investing  activities  consisted of property
improvements and replacements and net deposits to restricted  escrows maintained
by the mortgage lender. The Partnership  invests its working capital reserves in
interest bearing accounts.

An  affiliate  of  the  Managing  General  Partner  has  made  available  to the
Partnership  a  credit  line  of  up to  $150,000  per  property  owned  by  the
Partnership. During the three months ended March 31, 2005 approximately $103,000
was  advanced  to Oak Run  Apartments  for  operating  expenses.  There  were no
advances for the three  months  ended March 31, 2004.  During the second half of
2004, an affiliate of the Managing  General  Partner  agreed to advance funds in
excess of the  $150,000  line of credit to fund  operating  expenses  of Oak Run
Apartments,  costs  associated with obtaining a new mortgage on the property and
an amount to cover the deficiency  between the existing  mortgage  payoff amount
and the new mortgage.  During the second half of 2004  approximately  $2,227,000
was advanced for these purposes.  At March 31, 2005 the outstanding  balance was
approximately  $2,345,000  including accrued  interest.  Interest accrues at the
prime  rate plus 2% (7.75% at March 31,  2005).  Interest  expense  amounted  to
approximately $40,000 for the three months ended March 31, 2005.

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 property to adequately maintain the physical assets
and other operating needs of the Partnership and to comply with Federal,  state,
and local  legal and  regulatory  requirements.  The  Managing  General  Partner
monitors  developments  in the  area of legal  and  regulatory  compliance.  For
example,  the  Sarbanes-Oxley  Act  of  2002  mandates  or  suggests  additional
compliance  measures  with  regard to  governance,  disclosure,  audit and other
areas.  The Partnership  expects that it will incur higher  expenses  related to
compliance.   Capital  improvements  planned  for  the  Partnership's  remaining
property are detailed below.

During  the  three  months  ended  March  31,  2005  the  Partnership  completed
approximately  $51,000 of capital improvements at Oak Run Apartments  consisting
primarily  of  counter  tops  and  floor  covering   replacements  and  exterior
improvements.  These  improvements  were funded from  operations and replacement
reserves.  The Partnership  regularly evaluates the capital improvement needs of
the property.  While the  Partnership  has no material  commitments for property
improvements  and  replacements,   certain  routine  capital   expenditures  are
anticipated  during 2005. Such capital  expenditures will depend on the physical
condition  of the  property as well as  anticipated  cash flow  generated by the
property.

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

The  Partnership's  assets are thought to be sufficient for any near-term  needs
(exclusive of capital improvements) of the Partnership.  On October 1, 2004, the
Partnership  obtained a mortgage of $8,500,000 on its sole investment  property,
Oak  Run  Apartments,  located  in  Dallas,  Texas.  The  existing  mortgage  of
approximately $9,728,000 matured on October 1, 2004 and was repaid with proceeds
from the new mortgage and an additional loan of approximately $1,918,000,  which
was  funded  by an  affiliate  of the  Partnership's  Managing  General  Partner
("Affiliate  Loan")  to cover  closing  costs  and the  deficiency  between  the
existing  mortgage  payoff amount and the new mortgage.  The Affiliate Loan is a
demand  note that bears  interest  at the prime rate plus 2% (7.75% at March 31,
2005).  The new mortgage  requires  monthly  payments of interest which began on
November 1, 2004 until the loan matures  October 1, 2007,  with  interest  being
equal to the average of London  Interbank  Offered Rates for a term of one month
plus 285 basis points (minimum rate of 4.69%).  In conjunction with the mortgage
note, the Partnership paid approximately  $30,000 to enter into an interest rate
cap  agreement,  which  limited the  Partnership's  exposure  to  interest  rate
increases.  Under this interest rate cap agreement,  the Partnership's  interest
rate on the  amounts  owed to the  lender  will be no higher  than  6.00%.  This
agreement  expires  October 1, 2007. The  Partnership  has adopted SFAS No. 133,
"Accounting  for  Derivative  Instruments  and  Hedging  Activities",  which was
amended by SFAS No. 138  "Accounting  for  Certain  Derivative  Instruments  and
Certain  Hedging  Activities - an Amendment of SFAS No. 133". The  Partnership's
interest  rate cap does not qualify for special  hedge  accounting  treatment as
defined by SFAS 133, and therefore all changes in the fair value of the interest
rate cap will be recognized in the  consolidated  statements of operations as an
adjustment to interest  expense.  In addition the new mortgage  requires monthly
escrow deposits for taxes, insurance and replacement reserves. As a condition of
making the new mortgage,  the lender required an affiliate of the Partnership to
guarantee the obligations and liabilities of the Partnership with respect to the
new mortgage.

There were no  distributions  during the three  months  ended March 31, 2005 and
2004. Future cash distributions will depend on the levels of cash generated from
operations,  and  the  timing  of  the  debt  maturity,   property  sale  and/or
refinancing.  The Partnership's cash available for distribution is reviewed on a
monthly basis.  In light of the amounts accrued and payable to affiliates of the
Managing  General Partner at March 31, 2005,  there can be no assurance that the
Partnership  will  generate  sufficient  funds  from  operations  after  capital
improvements  to  permit  any  distributions  to its  partners  during  2005  or
subsequent periods.

Other

In addition to its indirect  ownership of the general  partner  interests in the
Partnership,  AIMCO and its affiliates owned 42,694.50 limited partnership units
(the "Units") in the Partnership  representing  56.93% of the total  outstanding
Units at March 31,  2005.  A number of these  Units were  acquired  pursuant  to
tender offers made by AIMCO or its affiliates.  It is possible that AIMCO or its
affiliates will acquire  additional  Units in exchange for cash or a combination
of cash and units,  in AIMCO  Properties,  L.P.,  the operating  partnership  of
AIMCO, either through private purchases or tender offers.  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  without
limitation, voting on certain amendments to the Partnership Agreement and voting
to remove the Managing General  Partner.  As a result of its ownership of 56.93%
of the total outstanding  Units,  AIMCO is in a position to influence all voting
decisions with respect to the Registrant.  AIMCO IPLP, L.P.,  formerly  Insignia
Properties L.P. ("IPLP"), an affiliate of AIMCO and the Managing General Partner
indirectly,  had agreed for the benefit of  non-tendering  unitholders,  that it
would vote the 21,513 Units  acquired in January 1996:  (i) against any increase
in compensation  payable to the Managing  General Partner or to affiliates;  and
(ii) on all other matters  submitted by it or its  affiliates,  in proportion to
the votes cast by non-tendering unitholders.  Except for the foregoing, no other
limitations are imposed on IPLP's,  AIMCO's or any of their  affiliates right to
vote each Unit acquired.  Although the Managing  General  Partner owes fiduciary
duties to the limited partners of the Partnership,  the Managing General Partner
also owes fiduciary duties to AIMCO as its sole  stockholder.  As a result,  the
duties of the Managing  General Partner,  as managing  general  partner,  to the
Partnership  and its limited  partners may come into conflict with the duties of
the Managing General Partner to AIMCO as its sole stockholder.

Critical Accounting Policies and Estimates

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

Impairment of Long-Lived Assets

Investment property is 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  property.  These factors include, but are not limited
to,  changes  in the  national,  regional  and  local  economic  climate;  local
conditions,  such as an oversupply of multifamily  properties;  competition from
other available  multifamily property owners and changes in market rental rates.
Any adverse changes in these factors could cause impairment of the Partnership's
asset.

Revenue Recognition

The Partnership generally leases apartment units for twelve-month terms or less.
The Partnership will offer rental concessions during particularly slow months or
in response  to heavy  competition  from other  similar  complexes  in the area.
Rental income attributable to leases, net of any concessions, is recognized on a
straight-line  basis over the term of the lease.  The Partnership  evaluates all
accounts  receivable  from  residents and  establishes  an allowance,  after the
application of security deposits,  for accounts greater than 30 days past due on
current tenants and all receivables due from former tenants.

ITEM 3.     CONTROLS AND PROCEDURES

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

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

<PAGE>

                           PART II - OTHER INFORMATION

ITEM 1.     LEGAL PROCEEDINGS

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial Group, Inc., et al. (the "Nuanes action") in the Superior Court of the
State of  California  for the  County  of San  Mateo.  The  plaintiffs  named as
defendants,  among others,  the  Partnership,  its Managing  General Partner and
several of their  affiliated  partnerships  and corporate  entities.  The action
purported  to  assert  claims  on  behalf  of a class of  limited  partners  and
derivatively  on behalf  of a number  of  limited  partnerships  (including  the
Partnership)  that are named as nominal  defendants,  challenging,  among  other
things,  the  acquisition  of  interests  in certain  Managing  General  Partner
entities by Insignia Financial Group, Inc.  ("Insignia") and entities that were,
at one  time,  affiliates  of  Insignia;  past  tender  offers  by the  Insignia
affiliates to acquire limited partnership units;  management of the partnerships
by the  Insignia  affiliates;  and the series of  transactions  which  closed on
October 1, 1998 and February 26, 1999 whereby  Insignia and Insignia  Properties
Trust,  respectively,  were merged into AIMCO.  The plaintiffs  sought  monetary
damages and equitable relief, including judicial dissolution of the Partnership.
In addition,  during the third quarter of 2001, a complaint  captioned Heller v.
Insignia  Financial  Group (the  "Heller  action")  was filed  against  the same
defendants  that are named in the  Nuanes  action.  On or about  August 6, 2001,
plaintiffs filed a first amended  complaint.  The Heller action was brought as a
purported derivative action, and asserted claims for, among other things, breach
of fiduciary  duty,  unfair  competition,  conversion,  unjust  enrichment,  and
judicial  dissolution.  On January 28, 2002, the trial court granted  defendants
motion to strike the complaint.

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

On June 13, 2003, the court granted final approval of the settlement and entered
judgment in both the Nuanes and Heller actions.  On August 12, 2003, an objector
("Objector") filed an appeal (the "Appeal") seeking to vacate and/or reverse the
order approving the settlement and entering  judgment  thereto.  On May 4, 2004,
the Objector filed a second appeal  challenging the court's use of a referee and
its order requiring Objector to pay those fees.

On March 21, 2005, the Court of Appeals issued opinions in both pending appeals.
With regard to the settlement and judgment entered thereto, the Court of Appeals
vacated  the trial  court's  order and  remanded  to the trial court for further
findings  on the basis that the "state of the record is  insufficient  to permit
meaningful  appellate  review".  With regard to the second appeal,  the Court of
Appeals  reversed the order requiring the Objector to pay referee fees. On April
26, 2005,  the Court of Appeals  lifted the stay of a pending  appeal related to
the Heller action and the trial court's order striking the  complaint.  On April
28, 2005, the Objector  filed a Petition for Review with the California  Supreme
Court in connection with the opinion vacating the order approving settlement and
remanding for further findings.  The Managing General Partner and its affiliates
are  currently  scheduled  to file an answer to  Objector's  petition on May 18,
2005.

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

AIMCO  Properties  L.P.  and NHP  Management  Company,  both  affiliates  of the
Managing  General  Partner,  are  defendants  in a  lawsuit  alleging  that they
willfully  violated  the Fair Labor  Standards  Act  ("FLSA")  by failing to pay
maintenance  workers  overtime for all hours worked in excess of forty per week.
The complaint  attempts to bring a collective action under the FLSA and seeks to
certify state subclasses in California,  Maryland, and the District of Columbia.
Specifically,  the  plaintiffs  contend  that  AIMCO  Properties  L.P.  and  NHP
Management Company failed to compensate  maintenance  workers for time that they
were  required  to be  "on-call."  Additionally,  the  complaint  alleges  AIMCO
Properties  L.P. and NHP  Management  Company  failed to comply with the FLSA in
compensating  maintenance  workers for time that they worked in  responding to a
call  while  "on-call."  The  defendants  have  filed an answer  to the  amended
complaint  denying the substantive  allegations.  Oral argument  relating to the
certification  of the  collective  action  took  place  on May 12,  2005 and the
parties await a ruling from the Court. Although the outcome of any litigation is
uncertain,  AIMCO  Properties,  L.P. does not believe that the ultimate  outcome
will have a material  adverse  effect on its  financial  condition or results of
operations.  Similarly,  the Managing  General Partner does not believe that the
ultimate  outcome  will have a  material  adverse  effect  on the  Partnership's
consolidated financial condition or results of operations.

ITEM 4.     SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

            On March 14, 2005,  the  Partnership  sought the vote of the limited
            partners  in  regards  to an  amendment  (the  "Amendment")  of  the
            Agreement of Limited Partnership (the "Partnership  Agreement"),  to
            extend  the  term  of the  Partnership  from  December  31,  2007 to
            December 31, 2010.

            On April 4, 2005, the consent  solicitation  expired pursuant to its
            terms.  The consent of the requisite  number of limited partners was
            received. Accordingly, the Partnership Agreement has been amended to
            extend  the  term  of the  Partnership  from  December  31,  2007 to
            December 31, 2010.

ITEM 5.     OTHER INFORMATION

            None.

ITEM 6.     EXHIBITS

            See Exhibit Index.


<PAGE>


                                   SIGNATURES


In  accordance  with  Section 13 or 15(d) of the Exchange  Act,  the  Registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


                                    CENTURY PROPERTIES FUND XVIII


                                    By:   Fox Partners
                                          General Partner


                                    By:   Fox Capital Management Corporation
                                          Managing General Partner


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


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


                                    Date: May 13, 2005



<PAGE>


                          CENTURY PROPERTIES FUND XVIII

                                  EXHIBIT INDEX


Exhibit Number    Description of Exhibit


       2.5        Master  Indemnity  Agreement  Incorporated  by  reference to
                  Form 8-K filed by Insignia  Financial  Group,  Inc. with the
                  Securities and Exchange Commission on September 1, 1995.

       3.4        Agreement of Limited  Partnership  Incorporated by reference
                  to  Exhibit  A to the  Prospectus  of the  Registrant  dated
                  November 5, 1982,  as revised  December 30, 1982,  and after
                  supplemented  contained  in the  Registrant's  Agreement  on
                  Form S-11 (Reg. No. 2-78495).

      3.4a        Amendment to the Limited Partnership  Agreement dated April 4,
                  2005 filed with the  Registrant's  Form 10-QSB dated March 31,
                  2005.

      10.7        Loan Agreement dated September 30, 2004 between Oak Run, L.P.,
                  a South  Carolina  limited  partnership  and  GMAC  Commercial
                  Mortgage Bank.  Incorporated by reference to the  Registrant's
                  Form 8-K dated October 1, 2004.

      10.8        Promissory Note dated September 30, 2004 between Oak Run L.P.,
                  a South  Carolina  limited  partnership  and  GMAC  Commercial
                  Mortgage Bank.  Incorporated by reference to the  Registrant's
                  Form 8-K dated October 1, 2004.

      10.9        Guaranty dated September 30, 2004 by AIMCO  Properties,  L.P.,
                  for the benefit of GMAC Commercial Mortgage Bank. Incorporated
                  by reference  to the  Registrant's  Form 8-K dated  October 1,
                  2004.

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

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

      32.1        Certification of the equivalent of the Chief Executive Officer
                  and Chief  Financial  Officer  Pursuant  to 18 U.S.C.  Section
                  1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley
                  Act of 2002.



<PAGE>



Exhibit 3.4A
                          CENTURY PROPERTIES FUND XVIII

                                AMENDMENT TO THE
                          LIMITED PARTNERSHIP AGREEMENT

      This  AMENDMENT  (this  "(Amendment")  dated as of April 4,  2005,  to the
LIMITED   PARTNERSHIP   AGREEMENT  (the  "Partnership   Agreement")  of  CENTURY
PROPERTIES FUND XVIII, a California limited partnership (the "Partnership"),  is
entered into by the undersigned.

                                   WITNESSETH:

      WHEREAS, pursuant to Section 16.2.5 of the Partnership Agreement,  Limited
Partners who own more than 50% of the Total  Outstanding units have consented in
writing to this Amendment to the Partnership Agreement; and

      WHEREAS,  pursuant to the  Partnership  Agreement the General  Partner may
execute this Amendment to the Partnership Agreement on behalf of the Partnership
and the Limited Partners;

      NOW, THEREFORE, the parties agree as follows:

      1.    Section 4.3 of the  Partnership  Agreement is hereby amended to read
            in its entirety as follows:

            "The  Partnership  will  commence  on  the  date  of  filing  of the
            certificate  of limited  partnership  for the  Partnership  and will
            continue until December 31, 2010,  unless  previously  terminated in
            accordance with the provisions of this Partnership Agreement."

      2.    Except as amended and modified by this Amendment, all other terms of
            the Partnership Agreement shall remain unchanged.

3.          This  Amendment  shall be governed by and  construed as to validity,
            enforcement, interpretations,  construction, effect and in all other
            respects by the internal laws of the State of California.

4.          All capitalized  terms used herein but not otherwise  defined herein
            shall  have  the  meanings  ascribed  to  them  in  the  Partnership
            Agreement.


<PAGE>



      IN WITNESS  WHEREOF,  the parties  have caused this  Amendment  to be duly
executed and their  respective  signatures to be hereunto  affixed and attested,
all as of the day and year first above written.

                                 General Partner

                              Fox Partners

                              By:   Fox Capital Management Corporation, its
                                    Managing General Partner

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

                                 Limited Partner

                              By:   Fox    Partners,    as    attorney-in-fact
                                    pursuant   to  the   power   of   attorney
                                    provided in Section 20 of the  Partnership
                                    Agreement

                              By:   Fox Capital  Management  Corporation,  its
                                    Managing General Partner

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




<PAGE>



Exhibit 31.1


                                  CERTIFICATION


I, Martha L. Long, certify that:


1.    I have reviewed this quarterly report on Form 10-QSB of Century Properties
      Fund XVIII;

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

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

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

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

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

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

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

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

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

Date:  May 13, 2005

                                    /s/Martha L. Long
                                    Martha L. Long
                                    Senior   Vice   President   of  Fox  Capital
                                    Management  Corporation,  equivalent  of the
                                    chief executive officer of the Partnership


<PAGE>



Exhibit 31.2


                                  CERTIFICATION


I, Stephen B. Waters, certify that:


1.    I have reviewed this quarterly report on Form 10-QSB of Century Properties
      Fund XVIII;

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

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

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

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

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

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

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

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

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

Date:  May 13, 2005

                                    /s/Stephen B. Waters
                                    Stephen B. Waters
                                    Vice President of Fox Capital
                                    Management Corporation, equivalent
                                    of the chief financial officer of
                                    the Partnership



<PAGE>



Exhibit 32.1


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



In  connection  with the Quarterly  Report on Form 10-QSB of Century  Properties
Fund XVIII (the "Partnership"), for the quarterly period ended March 31, 2005 as
filed with the  Securities  and  Exchange  Commission  on the date  hereof  (the
"Report"),  Martha L. Long, as the equivalent of the Chief Executive  Officer of
the Partnership, and Stephen B. Waters, as the equivalent of the Chief Financial
Officer of the Partnership, each hereby certifies, pursuant to 18 U.S.C. Section
1350,  as adopted  pursuant  to Section 906 of the  Sarbanes-Oxley  Act of 2002,
that, to the best of his knowledge:

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

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


                                           /s/Martha L. Long
                                    Name:  Martha L. Long
                                    Date:  May 13, 2005


                                           /s/Stephen B. Waters
                                    Name:  Stephen B. Waters
                                    Date:  May 13, 2005


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