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, 2001


[ ] 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, 2001
<TABLE>
<CAPTION>


Assets
<S>                                                                          <C>
   Cash and cash equivalents                                                 $  700
   Receivables and deposits                                                      70
   Restricted escrows                                                            59
   Other assets                                                                 276
   Investment properties:
      Land                                                   $ 7,296
      Buildings and related personal property                  21,263
                                                               28,559
      Less accumulated depreciation                           (12,445)       16,114
                                                                           $ 17,219
Liabilities and Partners' (Deficit) Capital
Liabilities
   Accounts payable                                                          $ 36
   Tenant security deposit liabilities                                           73
   Accrued property taxes                                                       276
   Other liabilities                                                            312
   Mortgage notes payable                                                    18,891

Partners' (Deficit) Capital
   General partner                                           $ (6,241)
   Limited partners (75,000 units issued and
      outstanding)                                              3,872        (2,369)
                                                                           $ 17,219



            See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<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,
                                     2001           2000           2001           2000
Revenues:
<S>                                <C>            <C>             <C>           <C>
  Rental income                    $ 1,234        $ 1,232         $ 2,481       $ 2,425
  Other income                          81             82             157           141
      Total revenues                 1,315          1,314           2,638         2,566

Expenses:
   Operating                           458            410             875           813
   General and administrative          104             73             192           129
   Depreciation                        216            202             429           398
   Interest                            337            349             678           697
   Property tax                        150            119             286           230
      Total expenses                 1,265          1,153           2,460         2,267

Net income                           $ 50          $ 161           $ 178         $ 299

Net income allocated to
  general partner (9.9%)             $ 5            $ 16           $ 18           $ 30
Net income allocated to
   limited partners (90.1%)             45            145             160           269

                                     $ 50          $ 161           $ 178         $ 299

Net income per limited
  partnership unit                  $ 0.60         $ 1.93         $ 2.13         $ 3.59

Distributions per limited
  partnership unit                  $ 0.96          $ --          $ 6.11         $ 2.91

            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, 2000               75,000     $(6,254)     $ 4,170      $(2,084)

Distributions to partners                 --          (5)        (458)        (463)

Net income for the six months
   ended June 30, 2001                    --          18          160          178

Partners' (deficit) capital
   at June 30, 2001                   75,000     $(6,241)     $ 3,872      $(2,369)


            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,
                                                                  2001        2000
Cash flows from operating activities:
<S>                                                              <C>          <C>
  Net income                                                     $ 178        $ 299
  Adjustments to reconcile net income to net cash provided
   by operating activities:
     Depreciation                                                   429          398
     Amortization of loan costs                                      25           38
     Change in accounts:
      Receivables and deposits                                      (13)         337
      Other assets                                                  (31)         (16)
      Accounts payable                                              (29)         (17)
      Tenant security deposit liabilities                            (3)           8
      Accrued property taxes                                        (91)        (128)
      Other liabilities                                             124          (41)
        Net cash provided by operating activities                   589          878

Cash flows from investing activities:
  Property improvements and replacements                           (147)        (354)
  Net deposits to restricted escrows                                (28)         (55)
        Net cash used in investing activities                      (175)        (409)

Cash flows from financing activities:
  Distributions to partners                                        (463)        (220)
  Payments on mortgage notes payable                               (121)         (96)
        Net cash used in financing activities                      (584)        (316)

Net (decrease) increase in cash and cash equivalents               (170)         153
Cash and cash equivalents at beginning of period                    870          462
Cash and cash equivalents at end of period                       $ 700        $ 615

Supplemental disclosure of cash flow information:
  Cash paid for interest                                         $ 653        $ 548

            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. 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, 2001 are not  necessarily  indicative of the results that
may be expected  for the fiscal  year  ending  December  31,  2001.  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, 2000. The Managing  General Partner and the managing  general
partner of FRI are affiliates of Apartment  Investment  and  Management  Company
("AIMCO"), a publicly traded real estate investment trust.

Principles of Consolidation

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

Segment Reporting

Statement of Financial Standards ("SFAS") No. 131, "Disclosure about Segments of
an Enterprise and Related  Information"  established  standards for the way that
public business  enterprises  report  information  about  operating  segments in
annual financial  statements and requires that those enterprises report selected
information  about  operating  segments in interim  financial  reports.  It also
established  standards  for related  disclosures  about  products and  services,
geographic  areas,  and  major  customers.  As  defined  in SFAS  No.  131,  the
Partnership  has only one  reportable  segment.  The  Managing  General  Partner
believes that  segment-based  disclosures  will not result in a more  meaningful
presentation than the consolidated financial statements as currently presented.

Note B - Transactions with Affiliated Parties

The  Partnership  has no employees  and is  dependent  on the  Managing  General
Partner  and  its  affiliates  for  the  management  and  administration  of all
Partnership  activities.  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,
2001 and 2000:

                                                                  2001      2000
                                                                  (in thousands)

 Property management fees (included in operating expenses)        $133      $130
 Reimbursement for services of affiliates (included in
   operating and general and administrative expenses
   and investment properties)                                      118        68

Affiliates of the Managing  General  Partner are 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
$133,000  and  $130,000  for the six  months  ended  June  30,  2001  and  2000,
respectively.

An  affiliate  of  the  Managing  General  Partner  received   reimbursement  of
accountable  administrative  expenses  amounting to  approximately  $118,000 and
$68,000 for the six months ended June 30, 2001 and 2000, respectively.

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.

AIMCO and its affiliates owned 40,167.50 limited partnership units (the "Units")
in the Partnership  representing  53.56% of the total  outstanding Units at June
30, 2001. 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, 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 53.56% of the total 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
its affiliation  with the Managing  General  Partner.  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 its
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.

Note C - Distributions

During the six months ended June 30, 2001, the Registrant declared and paid cash
distributions of approximately $463,000 from prior cumulative undistributed sale
and  refinancing  proceeds,  of  which  approximately  $458,000  was paid to the
limited  partners ($6.11 per limited  partnership  unit).  During the six months
ended June 30, 2000, 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).

Note D - Legal Proceedings

In March 1998, several putative  unitholders 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,  among other things,  the  acquisition of interests in
certain general partner entities by Insignia Financial Group, Inc.  ("Insignia")
and entities which were, at one time, affiliates of Insignia; past tender offers
by the Insignia affiliates to acquire limited  partnership units;  management of
the  partnerships  by the Insignia  affiliates;  and the series of  transactions
which  closed on October 1, 1998 and  February  26, 1999  whereby  Insignia  and
Insignia Properties Trust, respectively,  were merged into AIMCO. The plaintiffs
seek monetary damages and equitable relief,  including  judicial  dissolution of
the  Partnership.  On June 25, 1998, the Managing General Partner filed a motion
seeking  dismissal  of the action.  In lieu of  responding  to the  motion,  the
plaintiffs  filed an amended  complaint.  The  Managing  General  Partner  filed
demurrers to the amended complaint which were heard February 1999.

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims, subject to court approval, on behalf of the Partnership and all
limited partners who owned units as of November 3, 1999. Preliminary approval of
the  settlement  was obtained on November 3, 1999 from the Court,  at which time
the Court set a final  approval  hearing for  December  10,  1999.  Prior to the
December  10,  1999  hearing,  the  Court  received  various  objections  to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December 14, 1999, the Managing  General  Partner and its affiliates  terminated
the  proposed  settlement.  In  February  2000,  counsel  for some of the  named
plaintiffs filed a motion to disqualify plaintiff's lead and liaison counsel who
negotiated  the  settlement.  On June  27,  2000,  the  Court  entered  an order
disqualifying  them  from the case and an  appeal  was  taken  from the order on
October 5, 2000. On December 4, 2000, the Court  appointed the law firm of Lieff
Cabraser  Heimann & Bernstein  LLP as new lead  counsel for  plaintiffs  and the
putative class.  Plaintiffs filed a third amended complaint on January 19, 2001.
On March 2, 2001,  the  Managing  General  Partner  and its  affiliates  filed a
demurrer to the third amended  complaint.  On May 14, 2001,  the Court heard the
demurrer to the third amended  complaint.  On July 10, 2001, the Court issued an
order sustaining defendants' demurrer on certain grounds.  Plaintiffs have until
August 16, 2001 to file a fourth amended complaint. The Managing General Partner
does  not  anticipate  that  any  costs,  whether  legal  or  settlement  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, 2001 and 2000.

                                                   Average Occupancy
      Property                                      2001       2000

      Oak Run Apartments                            91%        93%
         Dallas, Texas
      Overlook Point Apartments                     95%        95%
         Salt Lake City, Utah

Results of Operations

The  Partnership's  net  income  for the six  months  ended  June  30,  2001 was
approximately $178,000 as compared to approximately $299,000 for the same period
in 2000. The  Partnership's  net income for the three months ended June 30, 2001
was  approximately  $50,000 as compared to  approximately  $161,000 for the same
period in 2000.  The decrease in net income for the three and six month  periods
ended June 30, 2001 compared to the  corresponding  period in 2000 was due to an
increase  in total  expenses,  which for the six months  ended June 30, 2001 was
partially offset by an increase in total revenues.  Total expenses increased due
to  increases  in  depreciation,   property  tax,   operating  and  general  and
administrative  expenses offset by a decrease in interest expense.  Depreciation
expense  increased  due to  property  improvements  and  replacements  placed in
service at both of the  investment  properties  during the past  twelve  months.
Property tax expense  increased due to an increase in the assessed  value of Oak
Run Apartments by the taxing authorities. The increase in operating expenses was
attributable  to an  increase  in natural  gas prices and  salaries  and related
employee benefits.

General and  administrative  expense increased due to an increase in the cost of
services  provided by the Managing General Partner and its affiliates as allowed
under the  Partnership  Agreement.  Also included in general and  administrative
expenses are costs associated with the quarterly and annual  communications with
investors  and  regulatory  agencies  and  the  annual  audit  required  by  the
Partnership Agreement.

Total  revenues for the six month period ended June 30, 2001 increased due to an
increase  in  rental  and  other  income.  The  increase  in  rental  income  is
attributable  to an increase in average  rental rates at both  properties  which
more than offset a decrease in occupancy at Oak Run Apartments.  The increase in
other income is  attributable  to an increase in interest  income as a result of
higher  average cash balances  being  maintained in interest  bearing  accounts.
Total revenues  remained  constant  during the three month period ended June 30,
2001 as compared to the same period of 2000.

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, 2001, the Partnership had cash and cash equivalents of approximately
$700,000 as compared to  approximately  $615,000 at June 30, 2000. Cash and cash
equivalents  decreased  approximately  $170,000  since  December 31, 2000 due to
approximately  $584,000  and $175,000 of cash used in  financing  and  investing
activities,  respectively,  partially offset by  approximately  $589,000 of cash
provided by operating activities. Cash used in financing activities consisted of
distributions to the partners,  and to a lesser extent,  principal payments made
on  the  mortgages  encumbering  the  Partnership's  properties.  Cash  used  in
investing activities consisted of property improvements and replacements and, to
a lesser extent,  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. 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 2001, the Partnership budgeted  approximately  $126,000
for capital improvements at Oak Run Apartments consisting of appliance, plumbing
and flooring  covering  replacements  and interior  decorations.  During the six
months ended June 30, 2001, the property spent approximately  $83,000 in capital
expenditures  at the  property  consisting  primarily  of  appliance  and  floor
covering replacements,  structural  improvements and interior decoration.  These
improvements were funded from operations and replacement reserves.

Overlook Point  Apartments:  For 2001, the  Partnership  budgeted  approximately
$84,000 for capital  improvements  at Overlook  Point  Apartments  consisting of
appliance, plumbing and flooring replacements.  During the six months ended June
30, 2001, the property spent  approximately  $64,000 in capital  expenditures at
the property consisting  primarily of appliance and floor covering  replacements
and swimming pool  improvements.  These  improvements were funded primarily from
operations.

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  $18,891,000 is amortized over thirty years with
balloon payments of approximately  $9,728,000 and $8,127,000 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.

During the six months ended June 30, 2001, the Registrant declared and paid cash
distributions of approximately $463,000 from prior cumulative undistributed sale
and  refinancing  proceeds,  of  which  approximately  $458,000  was paid to the
limited  partners ($6.11 per limited  partnership  unit).  During the six months
ended June 30, 2000, 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).  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 quarterly basis. There can be no assurance
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 2001  or  subsequent
periods.

AIMCO and its affiliates owned 40,167.50 limited partnership units (the "Units")
in the Partnership  representing  53.56% of the total  outstanding Units at June
30, 2001. 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, 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 53.56% of the total 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
its affiliation  with the Managing  General  Partner.  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 its
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.



<PAGE>



                           PART II - OTHER INFORMATION


ITEM 1.     LEGAL PROCEEDINGS

In March 1998, several putative  unitholders 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,  among other things,  the  acquisition of interests in
certain general partner entities by Insignia Financial Group, Inc.  ("Insignia")
and entities which were, at one time, affiliates of Insignia; past tender offers
by the Insignia affiliates to acquire limited  partnership units;  management of
the  partnerships  by the Insignia  affiliates;  and the series of  transactions
which  closed on October 1, 1998 and  February  26, 1999  whereby  Insignia  and
Insignia Properties Trust, respectively,  were merged into AIMCO. The plaintiffs
seek monetary damages and equitable relief,  including  judicial  dissolution of
the  Partnership.  On June 25, 1998, the Managing General Partner filed a motion
seeking  dismissal  of the action.  In lieu of  responding  to the  motion,  the
plaintiffs  filed an amended  complaint.  The  Managing  General  Partner  filed
demurrers to the amended complaint which were heard February 1999.

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims, subject to court approval, on behalf of the Partnership and all
limited partners who owned units as of November 3, 1999. Preliminary approval of
the  settlement  was obtained on November 3, 1999 from the Court,  at which time
the Court set a final  approval  hearing for  December  10,  1999.  Prior to the
December  10,  1999  hearing,  the  Court  received  various  objections  to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December 14, 1999, the Managing  General  Partner and its affiliates  terminated
the  proposed  settlement.  In  February  2000,  counsel  for some of the  named
plaintiffs filed a motion to disqualify plaintiff's lead and liaison counsel who
negotiated  the  settlement.  On June  27,  2000,  the  Court  entered  an order
disqualifying  them  from the case and an  appeal  was  taken  from the order on
October 5, 2000. On December 4, 2000, the Court  appointed the law firm of Lieff
Cabraser  Heimann & Bernstein  LLP as new lead  counsel for  plaintiffs  and the
putative class.  Plaintiffs filed a third amended complaint on January 19, 2001.
On March 2, 2001,  the  Managing  General  Partner  and its  affiliates  filed a
demurrer to the third amended  complaint.  On May 14, 2001,  the Court heard the
demurrer to the third amended  complaint.  On July 10, 2001, the Court issued an
order sustaining defendants' demurrer on certain grounds.  Plaintiffs have until
August 16, 2001 to file a fourth amended complaint. The Managing General Partner
does  not  anticipate  that  any  costs,  whether  legal  or  settlement  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:

                  None.

            b)    Reports on Form 8-K:

                  None filed during the quarter ended June 30, 2001.



<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
                                          General Partner


                                    By:   FOX CAPITAL MANAGEMENT CORPORATION
                                          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: