FORM 10-QSB--Quarterly or Transitional Report Under Section
               13 or 15(d) Of the Securities Exchange Act of 1934

                        Quarterly or Transitional Report

                  United States SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 10-QSB

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

                    For the quarterly period ended June 30, 2000


[ ] 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 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 (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 12 months (or for such shorter
period that the registrant was required to file such reports),  and (2) has been
subject to such filing requirements for the past 90 days. Yes X No___

<PAGE>

                         PART I - FINANCIAL INFORMATION

ITEM 1.     FINANCIAL STATEMENTS

a)

                          CENTURY PROPERTIES FUND XVIII

                           CONSOLIDATED BALANCE SHEET

                                   (Unaudited)

                          (in thousands, except unit data)

                                  June 30, 2000
<TABLE>
<CAPTION>

Assets
<S>                                                                          <C>
   Cash and cash equivalents                                                 $  615
   Receivables and deposits                                                     117
   Restricted escrows                                                           209
   Other assets                                                                 315
   Investment properties:
      Land                                                   $  7,296
      Buildings and related personal property                  20,922
                                                               28,218
      Less accumulated depreciation                           (11,592)       16,626
                                                                           $ 17,882

Liabilities and Partners' (Deficit) Capital
Liabilities

   Accounts payable                                                          $   45
   Tenant security deposit liabilities                                           78
   Accrued property taxes                                                       238
   Other liabilities                                                            192
   Mortgage notes payable                                                    19,127

Partners' (Deficit) Capital

   General partner                                           $ (6,269)
   Limited partners (75,000 units issued and
      outstanding)                                              4,471        (1,798)
                                                                           $ 17,882
</TABLE>

            See Accompanying Notes to Consolidated Financial Statements

<PAGE>

b)

                          CENTURY PROPERTIES FUND XVIII

                      CONSOLIDATED STATEMENTS OF OPERATIONS

                                   (Unaudited)

                          (in thousands, except unit data)

<TABLE>
<CAPTION>

                                      Three Months Ended            Six Months Ended
                                           June 30,                     June 30,
                                     2000           1999            2000          1999
Revenues:
<S>                                <C>             <C>            <C>           <C>
  Rental income                    $ 1,232         $ 1,202        $ 2,425       $ 2,409
  Other income                          82              57            141           122
      Total revenues                 1,314           1,259          2,566         2,531

Expenses:
   Operating                           410             395            813           779
   General and administrative           73              94            129           149
   Depreciation                        202             186            398           353
   Interest                            349             352            697           701
   Property tax                        119             114            230           232
      Total expenses                 1,153           1,141          2,267         2,214

Net income                          $  161           $ 118          $ 299         $ 317

Net income allocated to
  general partner                    $  16           $  11           $ 30          $ 31

Net income allocated to
   limited partners                    145             107            269           286

                                    $  161           $ 118          $ 299         $ 317

Net income per limited
  partnership unit                  $ 1.93         $ 1.42          $ 3.59        $ 3.81

Distributions per limited
  partnership unit                   $  --           $ --          $ 2.91        $ 9.91

            See Accompanying Notes to Consolidated Financial Statements
</TABLE>

<PAGE>

c)

                           CENTURY PROPERTIES FUND XVIII
          CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' (DEFICIT) 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' (deficit) capital

   at December 31, 1999               75,000     $(6,297)     $ 4,420      $(1,877)

Distribution to partners                  --          (2)        (218)        (220)

Net income for the six months
   ended June 30, 2000                    --          30          269          299

Partners' (deficit) capital
   at June 30, 2000                   75,000     $(6,269)     $ 4,471      $(1,798)

            See Accompanying Notes to Consolidated Financial Statements
</TABLE>

<PAGE>

d)

                          CENTURY PROPERTIES FUND XVIII

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                                   (Unaudited)

                                   (in thousands)

<TABLE>
<CAPTION>

                                                                  Six Months Ended
                                                                        June 30,

                                                                  2000        1999
Cash flows from operating activities:
<S>                                                              <C>           <C>
  Net income                                                     $  299        $ 317
  Adjustments to reconcile net income to net
   cash provided by operating activities:
   Depreciation                                                     398          353
   Amortization of loan costs                                        38           33
   Change in accounts:
      Receivables and deposits                                      337          143
      Other assets                                                  (16)         (14)
      Accounts payable                                              (17)          (1)
      Tenant security deposit liabilities                             8          (12)
      Accrued property taxes                                       (128)        (119)
      Other liabilities                                             (41)          13
       Net cash provided by operating activities                    878          713

Cash flows from investing activities:

  Property improvements and replacements                           (354)        (242)
  Net (deposits to) withdrawals from restricted escrows             (55)          76
       Net cash used in investing activities                       (409)        (166)

Cash flows from financing activities:

  Distributions to partners                                        (220)        (750)
  Payments on mortgage notes payable                                (96)        (106)
       Net cash used in financing activities                       (316)        (856)

Net increase (decrease) in cash and cash equivalents                153         (309)
Cash and cash equivalents at beginning of period                    462        1,477
Cash and cash equivalents at end of period                       $  615      $ 1,168

Supplemental disclosure of cash flow information:
  Cash paid for interest                                         $  548       $ 668

            See Accompanying Notes to Consolidated Financial Statements
</TABLE>

<PAGE>

e)

                          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  (see "Note B -
Transfer of  Control").  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 and six
month periods ended June 30, 2000 are not necessarily  indicative of the results
that may be expected for the fiscal year ending  December 31, 2000.  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 year
ended December 31, 1999.

Principles of Consolidation

The Partnership's  financial  statements include the accounts of the Partnership
and its  wholly-owned  partnership,  Oak Run LP, the entity which holds title to
Oak Run Apartments.

Note B - Transfer of Control

Pursuant  to a series  of  transactions  which  closed  on  October  1, 1998 and
February 26, 1999,  Insignia Financial Group, Inc. and Insignia Properties Trust
merged into AIMCO,  with AIMCO being the surviving  corporation  (the  "Insignia
Merger").  As a result,  AIMCO acquired 100% ownership  interest in the Managing
General  Partner.  The  Managing  General  Partner  does not  believe  that this
transaction has had or will have a material effect on the affairs and operations
of the Partnership.

Note C - 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.  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. The following payments were made to the
Managing  General  Partner and  affiliates  during the six months ended June 30,
2000 and 1999:

                                                                  2000      1999
                                                                  (in thousands)

 Property management fees (included in operating expenses)        $130      $127
 Reimbursement for services of affiliates (included in
   operating and general and administrative expenses
   and investment properties)                                       68        63

During the six months ended June 30, 2000 and 1999,  affiliates  of the Managing
General  Partner were entitled to receive 5% of gross  receipts from both of the
Registrant's   properties  for  providing  property  management  services.   The
Registrant paid to such affiliates  approximately  $130,000 and $127,000 for the
six months ended June 30, 2000 and 1999, respectively.

An  affiliate  of  the  Managing  General  Partner  received   reimbursement  of
accountable  administrative  expenses  amounting  to  approximately  $68,000 and
$63,000 for the six months ended June 30, 2000 and 1999, respectively.

AIMCO and its affiliates  currently own 37,503 limited  partnership units in the
Partnership  representing  50.004% of the  outstanding  units. 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 make one or more  additional
offers to acquire  additional limited  partnership  interests in the Partnership
for cash or in exchange for units in the operating  partnership of AIMCO.  Under
the  Partnership  Agreement,  unitholders  holding a  majority  of the Units are
entitled to take action with respect to a variety of matters. As a result of its
ownership  of  50.004%  of the  outstanding  units,  AIMCO is in a  position  to
influence all voting  decisions with respect to the  Registrant.  When voting on
matters,  AIMCO would in all  likelihood  vote the Units it acquired in a manner
favorable  to the  interest of the  Managing  General  Partner  because of their
affiliation with the Managing General Partner.

Note D - Segment Reporting

Description  of the types of products  and  services  from which the  reportable
segment derives its revenues:

The Partnership has one reportable segment:  residential properties,  consisting
of two apartment complexes,  one of which is located in Salt Lake City, Utah and
the other in Dallas, Texas. The Partnership rents apartment units to tenants for
terms that are typically twelve months or less.

Measurement of segment profit or loss:

The  Partnership  evaluates  performance  based on segment  profit (loss) before
depreciation.  The accounting policies of the reportable segment are the same as
those described in the  Partnership's  Annual Report on Form 10-KSB for the year
ended December 31, 1999.

Factors management used to identify the enterprise's reportable segment:

The  Partnership's  reportable  segment  consists of investment  properties that
offer similar products and services.  Although each of the investment properties
is  managed  separately,  they have been  aggregated  into one  segment  as they
provide services with similar types of products and customers.

Segment information for the three and six months ended June 30, 2000 and 1999 is
shown  in  the  tables  below  (in  thousands).   The  "Other"  column  includes
Partnership  administration  related items and income and expenses not allocated
to the reportable segment.

   Three Months Ended June 30, 2000    Residential      Other     Totals

Rental income                            $ 1,232       $   --    $ 1,232
Other income                                  82           --         82
Interest expense                             349           --        349
Depreciation                                 202           --        202
General and administrative expense            --           73         73
Segment profit (loss)                        234          (73)       161

   Three Months Ended June 30, 1999    Residential    Other     Totals

Rental income                         $ 1,202         $ --    $ 1,202
Other income                               50            7         57
Interest expense                          352           --        352
Depreciation                              186           --        186
General and administrative expense         --           94         94
Segment profit (loss)                     205          (87)       118


    Six Months Ended June 30, 2000     Residential     Other     Totals

Rental income                            $ 2,425       $   --    $ 2,425
Other income                                 141           --        141
Interest expense                             697           --        697
Depreciation                                 398           --        398
General and administrative expense            --          129        129
Segment profit (loss)                        428         (129)       299
Total assets                              17,832           50     17,882
Capital expenditures for investment
  properties                                 354           --        354


    Six Months Ended June 30, 1999    Residential     Other     Totals

Rental income                         $ 2,409       $   --    $ 2,409
Other income                              106           16        122
Interest expense                          701           --        701
Depreciation                              353           --        353
General and administrative expense         --          149        149
Segment profit (loss)                     450         (133)       317
Total assets                           17,999          635     18,634
Capital expenditures for investment
  properties                              242           --        242

<PAGE>

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. 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 the acquisition of interests in certain general partner
entities by Insignia Financial Group, Inc. and entities which were, at one time,
affiliates of Insignia; past tender offers by the Insignia affiliates to acquire
limited  partnership  units;  the  management  of  partnerships  by the Insignia
affiliates;  and the Insignia  Merger.  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  have 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 final 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. The Court will entertain applications for lead
counsel which must be filed by August 4, 2000. The Court has scheduled a hearing
on August 21, 2000 to address the issue of appointing lead counsel. The Managing
General Partner does not anticipate that costs associated with this case 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 Registrant from time to time. The
discussion of the  Registrant'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  Registrant'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 two apartment complexes. The
following  table sets forth the average  occupancy of the properties for the six
months ended June 30, 2000 and 1999.

                                                   Average Occupancy

      Property                                      2000       1999

      Oak Run Apartments                            93%        92%
         Dallas, Texas
      Overlook Point Apartments                     95%        96%
         Salt Lake City, Utah

Results of Operations

The  Partnership's  net  income  for the six  months  ended  June  30,  2000 was
approximately $299,000 as compared to approximately $317,000 for the same period
in 1999. The  Partnership's  net income for the three months ended June 30, 2000
was  approximately  $161,000 as compared to approximately  $118,000 for the same
period in 1999.  The  decrease  in net income for the six months  ended June 30,
2000  from the  corresponding  period  in 1999 was due to an  increase  in total
expenses,  which was  partially  offset by an  increase in total  revenues.  Net
income for the three months ended June 30, 2000 increased over the corresponding
period in 1999 due to an increase in total revenues,  which was partially offset
by an increase in total  expenses.  Total  revenues  for the three and six month
periods  ended June 30,  2000  increased  due to an increase in rental and other
income.  The increase in rental income is attributable to an increase in average
rental rates  primarily at Oak Run  Apartments.  The increase in other income is
attributable  to an increase in cable  television fees received from tenants and
late charges and was partially  offset by decreases in lease  cancellation  fees
and interest income.

Total expenses increased for the three and six month periods ended June 30, 2000
primarily due to an increase in operating and depreciation  expenses,  which was
partially offset by a decrease in general and administrative expense.  Operating
expense  increased  due to  increases  in various  property  expenses  including
salaries and related benefits,  utilities and commissions.  These increases were
offset slightly by decreases in repair and  maintenance  expenses and a decrease
in  insurance  premiums at Oak Run  Apartments.  The  increase  in  depreciation
expense is primarily attributable to the increase in depreciable assets put into
service in the last twelve months. General and administrative expenses decreased
primarily due to a decrease in the Corporate  Franchise Tax paid to the state of
Texas by Oak Run,  LLC,  a limited  liability  corporation  wholly-owned  by the
Partnership.  In addition,  legal costs  decreased due to the  settlement of the
Everest  matter in the  first  quarter  of 1999.  All  other  expenses  remained
relatively constant for the comparable periods.

Included  in general and  administrative  expense at both June 30, 2000 and 1999
are management  reimbursements to the Managing General Partner 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.

As part of the ongoing  business plan of the  Partnership,  the Managing General
Partner monitors the rental market  environment of its investment  properties to
assess the feasibility of increasing rents,  maintaining or increasing occupancy
levels and protecting  the  Partnership  from increases in expenses.  As part of
this plan, the Managing General Partner attempts to protect the Partnership from
the burden of  inflation-related  increases in expenses by increasing  rents and
maintaining a high overall  occupancy  level.  However,  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

At June 30, 2000, the Partnership had cash and cash equivalents of approximately
$615,000 as compared to approximately $1,168,000 at June 30, 1999. Cash and cash
equivalents increased approximately $153,000 for the six month period ended June
30, 2000 from the  Partnership's  fiscal year end. The increase in cash and cash
equivalents  is due  primarily  to  approximately  $878,000 of cash  provided by
operating activities, which more than offset approximately $409,000 of cash used
in investing  activities  and  approximately  $316,000 of cash used in financing
activities.  Cash used in investing activities consisted of capital improvements
and  replacements  and, to a lesser extent,  net deposits to restricted  escrows
maintained by the mortgage lender. Cash used in financing  activities  consisted
of distributions to the partners, and to a lesser extent,  payments of principal
made on the mortgages encumbering the Partnership's properties.  The Partnership
invests its working capital reserves in a money market account.

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. At the present time, the Partnership has no outstanding amounts due
under this line of credit.  Based on present plans, the Managing General Partner
does not anticipate  the need to borrow in the near future.  Other than cash and
cash equivalents,  the line of credit is the Partnership's only unused source of
liquidity.

The sufficiency of existing  liquid assets to meet future  liquidity and capital
expenditure   requirements   is  directly   related  to  the  level  of  capital
expenditures  required at the  properties  to  adequately  maintain the physical
assets and other  operating  needs of the Registrant and to comply with Federal,
state, and local legal and regulatory requirements. Capital improvements planned
for each of the Registrant's properties are detailed below.

Oak Run  Apartments:  For  2000,  the  Partnership  has  budgeted  approximately
$375,000 for capital improvements at Oak Run Apartments consisting of appliance,
plumbing and flooring  replacements  and interior  decorations,  parking lot and
structural   improvements.   As  of  June  30,  2000  the   property  has  spent
approximately  $106,000  in  capital  expenditures  at the  property  consisting
primarily  of  appliances,  water  heaters,  floor  covering  replacements,  and
interior decoration. These improvements were funded from operations.

Overlook Point Apartments:  For 2000, the Partnership has budgeted approximately
$265,000 for capital  improvements  at Overlook Point  Apartments  consisting of
appliance,  plumbing and flooring replacements. As of June 30, 2000 the property
has spent approximately $248,000 in budgeted and unbudgeted capital expenditures
at the property  consisting  primarily of plumbing  upgrades and  appliance  and
floor  covering  replacements.  These  improvements  were funded  primarily from
operations.

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

The  Registrant's  current assets are thought to be sufficient for any near-term
needs  (exclusive  of capital  improvements)  of the  Registrant.  The  mortgage
indebtedness  of  approximately  $19,127,000 is amortized over thirty years with
balloon payments of approximately  $8,127,000 and $9,728,000 due on October 2004
and September 2005,  respectively.  The Managing General Partner will attempt to
refinance such  indebtedness  and/or sell the properties  prior to such maturity
dates. If the properties  cannot be refinanced or sold for a sufficient  amount,
the Partnership may risk losing such properties through foreclosure.

The Registrant  made a cash  distribution of  approximately  $220,000 from prior
cumulative  undistributed sale and refinancing  proceeds, of which approximately
$218,000 was paid to the limited partners ($2.91 per limited  partnership  unit)
during the six months ended June 30, 2000.

The Registrant  made cash  distributions  of  approximately  $750,000 from prior
cumulative  undistributed sale and refinancing  proceeds, of which approximately
$743,000  was paid to limited  partners  ($9.91 per  limited  partnership  unit)
during the six months ended June 30, 1999.

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 Registrant's  distribution
policy is reviewed on a semi-annual basis.  There can be no assurance,  however,
that the  Registrant  will  generate  sufficient  funds  from  operations  after
required   capital   improvements   expenditures   to  permit   any   additional
distributions  to its  partners  during  the  remainder  of 2000  or  subsequent
periods.

<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. 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 the acquisition of interests in certain general partner
entities by Insignia Financial Group, Inc. and entities which were, at one time,
affiliates of Insignia; past tender offers by the Insignia affiliates to acquire
limited  partnership  units;  the  management  of  partnerships  by the Insignia
affiliates;  and the Insignia  Merger.  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  have 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 final 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. The Court will entertain applications for lead
counsel which must be filed by August 4, 2000. The Court has scheduled a hearing
on August 21, 2000 to address the issue of appointing lead counsel. The Managing
General Partner does not anticipate that costs associated with this case will be
material to the Partnership's overall operations.

ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K

            a)    Exhibits:

                  Exhibit 27, Financial Data Schedule, is filed as an exhibit to
                  this report.

            b)    Reports on Form 8-K:

                  None filed during the quarter ended June 30, 2000.

<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.

                                    CENTURY PROPERTIES FUND XVIII

                                    By:   FOX PARTNERS
                                          Its General Partner

                                    By:   FOX CAPITAL MANAGEMENT CORPORATION
                                          Its Managing General Partner

                                    By:   /s/Patrick J. Foye
                                          Patrick J. Foye
                                          Executive Vice President

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

                                    Date: