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 September 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)

                               September 30, 2000

<TABLE>
<CAPTION>

Assets
<S>                                                                         <C>
   Cash and cash equivalents                                                $ 1,040
   Receivables and deposits                                                     108
   Restricted escrows                                                           109
   Other assets                                                                 311
   Investment properties:
      Land                                                   $ 7,296
      Buildings and related personal property                  21,027
                                                               28,323
      Less accumulated depreciation                           (11,801)       16,522
                                                                           $ 18,090
Liabilities and Partners' (Deficit) Capital
Liabilities
   Accounts payable                                                          $   38
   Due to affiliate                                                              34
   Tenant security deposit liabilities                                           74
   Accrued property taxes                                                       350
   Other liabilities                                                            187
   Mortgage notes payable                                                    19,069

Partners' (Deficit) Capital
   General partner                                           $ (6,256)
   Limited partners (75,000 units issued and
      outstanding)                                              4,594        (1,662)
                                                                           $ 18,090
</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            Nine Months Ended
                                        September 30,                 September 30,
                                     2000           1999            2000          1999
Revenues:
<S>                                <C>             <C>            <C>           <C>
  Rental income                    $ 1,228         $ 1,174        $ 3,653       $ 3,583
  Other income                          83              73            224           195
      Total revenues                 1,311           1,247          3,877         3,778

Expenses:
   Operating                           426             383          1,239         1,162
   General and administrative           85              47            214           196
   Depreciation                        209             184            607           537
   Interest                            343             352          1,040         1,053
   Property tax                        112             114            342           346
      Total expenses                 1,175           1,080          3,442         3,294

Net income                          $  136          $ 167           $ 435         $ 484

Net income allocated to
  general partner                    $  13          $  17            $ 43          $ 48

Net income allocated to
   limited partners                    123             150            392           436

                                    $  136          $ 167           $ 435         $ 484

Net income per limited
  partnership unit                  $ 1.64         $ 2.00          $ 5.23        $ 5.81

Distributions per limited
  partnership unit                   $  --        $ 11.47          $ 2.91       $ 21.38
</TABLE>

            See Accompanying Notes to Consolidated Financial Statements


<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 nine months
   ended September 30, 2000               --           43          392          435

Partners' (deficit) capital
   at September 30, 2000              75,000      $(6,256)     $ 4,594      $(1,662)
</TABLE>


            See Accompanying Notes to Consolidated Financial Statements

<PAGE>

d)

                          CENTURY PROPERTIES FUND XVIII
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                 (in thousands)

<TABLE>
<CAPTION>

                                                                 Nine Months Ended
                                                                   September 30,
                                                                  2000        1999
Cash flows from operating activities:
<S>                                                              <C>           <C>
  Net income                                                     $  435        $ 484
  Adjustments to reconcile net income to net
   cash provided by operating activities:
   Depreciation                                                     607          537
   Amortization of loan costs                                        52           52
   Change in accounts:
      Receivables and deposits                                      346           45
      Other assets                                                  (26)         (30)
      Accounts payable                                              (24)          (3)
      Due to affiliates                                              34           --
      Tenant security deposit liabilities                             4          (11)
      Accrued property taxes                                        (16)          (5)
      Other liabilities                                             (46)          (1)
       Net cash provided by operating activities                  1,366        1,068

Cash flows from investing activities:
  Property improvements and replacements                           (459)        (401)
  Net withdrawals from restricted escrows                            45           48
       Net cash used in investing activities                       (414)        (353)

Cash flows from financing activities:
  Distributions to partners                                        (220)      (1,200)
  Payments on mortgage notes payable                               (154)        (160)
       Net cash used in financing activities                       (374)      (1,360)

Net increase (decrease) in cash and cash equivalents                578         (645)
Cash and cash equivalents at beginning of period                    462        1,477
Cash and cash equivalents at end of period                      $ 1,040       $  832

Supplemental disclosure of cash flow information:
  Cash paid for interest                                         $  877      $ 1,001
</TABLE>

            See Accompanying Notes to Consolidated Financial Statements

<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 nine
month periods ended  September  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 expenses were incurred by
the Partnership to the Managing  General Partner and affiliates  during the nine
months ended September 30, 2000 and 1999:

                                                                  2000      1999
                                                                  (in thousands)
 Property management fees (included in operating expenses)        $196      $189
 Reimbursement for services of affiliates (included in
   operating and general and administrative expenses
   and investment properties)                                      137        97

During the nine months  ended  September  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  $196,000 and $189,000 for the
nine months ended September 30, 2000 and 1999, respectively.

An  affiliate  of  the  Managing  General  Partner  received   reimbursement  of
accountable  administrative  expenses  amounting to  approximately  $137,000 and
$97,000 for the nine months ended September 30, 2000 and 1999, respectively.  At
September  30,  2000,  approximately  $34,000 of the  current  year  expense was
accrued and is included in "Due to affiliate" in the  accompanying  consolidated
balance sheet. This amount was paid subsequent to September 30, 2000.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates  currently own 39,057 limited partnership
units in the Partnership representing 52.076% 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,  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 52.076%  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.  However, DeForest Ventures
I L.P., from whom Insignia  Properties L.P. ("IPLP"),  an affiliate of AIMCO and
the Managing General Partner indirectly acquired significantly all of its units,
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 right to vote each unit acquired.

Note D - Distributions

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 nine months ended  September  30, 2000.  Subsequent  to September 30,
2000, the  Partnership  declared and paid a distribution  from prior  cumulative
undistributed sale and refinancing proceeds of approximately  $484,000, of which
approximately  $479,000 is allocable to the limited  partners ($6.39 per limited
partnership  unit).  The Registrant  made cash  distributions  of  approximately
$1,200,000  from surplus funds,  of which  approximately  $1,188,000 was paid to
limited  partners ($15.84 per limited  partnership  unit) during the nine months
ended  September 30, 1999. A cash  distribution  of  approximately  $420,000 was
declared during the third quarter of 1999 and paid from surplus funds in October
1999,  approximately  $416,000 of which was paid to limited  partners ($5.54 per
limited partnership unit).

Note E - 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 nine months ended September 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 September 30, 2000    Residential    Other      Totals

Rental income                               $ 1,228       $  --     $ 1,228
Other income                                     82           1          83
Interest expense                                343          --         343
Depreciation                                    209          --         209
General and administrative expense               --          85          85
Segment profit (loss)                           220         (84)        136


  Nine Months Ended September 30, 2000   Residential     Other      Totals

Rental income                              $ 3,653       $   --    $ 3,653
Other income                                   223            1        224
Interest expense                             1,040           --      1,040
Depreciation                                   607           --        607
General and administrative expense              --          214        214
Segment profit (loss)                          648         (213)       435
Total assets                                18,082            8     18,090
Capital expenditures for investment
  properties                                   459           --        459


  Three Months Ended September 30, 1999  Residential     Other      Totals

Rental income                            $ 1,174       $   --     $ 1,174
Other income                                  70            3          73
Interest expense                             352           --         352
Depreciation                                 184           --         184
General and administrative expense            --           47          47
Segment profit (loss)                        211          (44)        167


  Nine Months Ended September 30, 1999  Residential     Other      Totals

Rental income                            $ 3,583       $   --     $ 3,583
Other income                                 176           19         195
Interest expense                           1,053           --       1,053
Depreciation                                 537           --         537
General and administrative expense            --          196         196
Segment profit (loss)                        661         (177)        484
Total assets                              18,232          164      18,396
Capital expenditures for investment
  properties                                 401           --         401

Note F - 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 is considering applications for lead
counsel and has  currently  scheduled a hearing on the matter for  November  20,
2000. 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 nine
months ended September 30, 2000 and 1999.

                                                  Average Occupancy
      Property                                     2000       1999

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

Results of Operations

The  Partnership's  net income for the nine months ended  September 30, 2000 was
approximately $435,000 as compared to approximately $484,000 for the same period
in 1999. The  Partnership's  net income for the three months ended September 30,
2000 was  approximately  $136,000 as compared to approximately  $167,000 for the
same  period in 1999.  The  decrease in net income for the three and nine months
ended  September 30, 2000 from the  corresponding  periods in 1999 was due to an
increase  in total  expenses,  which  more than  offset  the  increase  in total
revenues.  Total  revenues for the three and nine month periods ended  September
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 at Oak
Run Apartments,  partially offset by an increase in concessions. The increase in
other income is  attributable  to an increase in cable  television fees received
from tenants at both investment properties, late charges and utility fees at Oak
Run  Apartments and was partially  offset by a decrease in telephone  commission
fees at Overlook Point Apartments.

Total  expenses  increased for the three and nine month periods ended  September
30, 2000 primarily due to an increase in operating,  general and administrative,
and  depreciation  expenses.  Operating  expense  increased  due to increases in
various property expenses  including  salaries and related benefits,  utilities,
and  commissions.  These increases were partially  offset by decreases in repair
and maintenance 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  increased  primarily due to an increase in the cost of
services  included in the  management  reimbursements  to the  Managing  General
Partner as allowed under the Partnership  Agreement.  Partially  offsetting this
increase  was 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.  All other expenses remained relatively constant for the comparable
periods.

Included in general and  administrative  expense at both  September 30, 2000 and
1999 are management  reimbursements,  as discussed  above,  and 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 both 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  September  30,  2000,  the  Partnership  had cash and  cash  equivalents  of
approximately  $1,040,000 as compared to approximately $832,000 at September 30,
1999. Cash and cash equivalents  increased  approximately  $578,000 for the nine
month period ended  September 30, 2000 from the  Partnership's  fiscal year end.
The increase in cash and cash  equivalents  is due  primarily  to  approximately
$1,366,000  of cash  provided by  operating  activities,  which more than offset
approximately  $414,000 of cash used in investing  activities and  approximately
$374,000 of cash used in financing activities. Cash used in investing activities
consisted of capital  improvements  and replacements and was partially offset by
net withdrawals from restricted escrows maintained by the mortgage lender.  Cash
used in financing  activities  consisted of a  distribution  to the partners and
payments  of  principal  made on the  mortgages  encumbering  the  Partnership's
investment 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,  interior decorations,  and parking lot and
structural  improvements.  As of  September  30,  2000 the  property  has  spent
approximately  $165,000  in  capital  expenditures  at the  property  consisting
primarily  of  appliances,  water  heaters,  floor  covering  replacements,  and
interior  decoration.   These  improvements  were  funded  from  operations  and
replacement reserves.

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 September  30, 2000 the
property has spent  approximately  $294,000 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  $19,069,000 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 nine months ended  September  30, 2000.  Subsequent  to September 30,
2000, the  Partnership  declared and paid a distribution  from prior  cumulative
undistributed sale and refinancing proceeds of approximately  $484,000, of which
approximately  $479,000 is allocable to the limited  partners ($6.39 per limited
partnership  unit).  The Registrant  made cash  distributions  of  approximately
$1,200,000  from surplus funds,  of which  approximately  $1,188,000 was paid to
limited  partners ($15.84 per limited  partnership  unit) during the nine months
ended  September 30, 1999. A cash  distribution  of  approximately  $420,000 was
declared during the third quarter of 1999 and paid from surplus funds in October
1999,  approximately  $416,000 of which was paid to limited  partners ($5.54 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 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 is considering applications for lead
counsel and has  currently  scheduled a hearing on the matter for  November  20,
2000. 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 September 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: