FORM 10-QSB--QUARTERLY OR TRANSITIONAL REPORT UNDER SECTION 13 OR 15(D)

                    U.S. SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C.  20549

                                  FORM 10-QSB

(Mark One)

[X]  Quarterly Report Pursuant to 13 or 15(d) of The Securities Exchange Act of
                                        1934


                 For the quarterly period ended March 31, 1999


[  ] Transition Report Pursuant to 13 or 15(d) of the Securities Exchange Act of
     1934

                 For the transition period.........to.........


                         Commission file number 0-10435



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

         California                                              94-2704651
(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
                         
                         PART I - FINANCIAL INFORMATION

ITEM 1.   FINANCIAL STATEMENTS

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

                                 March 31, 1999


Assets

 Cash and cash equivalents                                 $   541

 Receivables and deposits                                      266

 Other assets                                                  221

 Restricted escrows                                             38

 Investment properties:

   Land                                        $  1,409

   Buildings and related

     personal property                           14,211

                                                 15,620

   Less accumulated depreciation                 (7,934)     7,686

                                                           $ 8,752

Liabilities and Partners' Capital

Liabilities

 Accounts payable                                          $    32

 Accrued property taxes                                        138

 Tenant security deposit liabilities                            51

 Other liabilities                                             115

 Mortgage notes payable                                      7,327

Partners' (Deficit) Capital

 General partners                              $(3,829)

 Limited partners (130,000 units issued

   and outstanding)                              4,918       1,089

                                                           $ 8,752


          See Accompanying Notes to Consolidated Financial Statements

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


                                                    Three Months Ended

                                                         March 31,

                                                      1999       1998

Revenues:

  Rental income                                     $   737   $   707

  Other income                                           26        30

       Total revenues                                   763       737

Expenses:

  Operating                                             296       299

  General and administrative                             52        53

  Depreciation                                          130       121

  Interest                                              153       154

  Property tax                                           64        43

       Total expenses                                   695       670

    Net income                                      $    68   $    67

Net income allocated to general partners (6.9%)     $     5   $     5

Net income allocated to limited partners (93.1%)         63        62

    Net income                                      $    68   $    67

Net income per limited partnership unit             $   .48   $   .48



          See Accompanying Notes to Consolidated Financial Statements

c)
                          CENTURY PROPERTIES FUND XVI
       CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' (DEFICIT) CAPITAL
                                  (Unaudited)
                        (in thousands, except unit data)





                                  Limited

                                Partnership   General    Limited

                                   Units     Partners    Partners    Total


Original capital contributions    130,000     $    --     $65,000    $65,000


Partners' (deficit) capital at

  December 31, 1998               130,000     $(3,834)    $ 4,855    $ 1,021


Net income for the three months

ended March 31, 1999                   --           5          63         68


Partners' (deficit) capital at

  March 31, 1999                  130,000     $(3,829)    $ 4,918    $ 1,089


          See Accompanying Notes to Consolidated Financial Statements

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




                                                          Three Months Ended

                                                               March 31,

                                                           1999        1998

Cash flows from operating activities:

  Net income                                              $   68      $   67

  Adjustments to reconcile net income to net cash

     provided by operating activities:

  Depreciation                                               130         121

  Amortization                                                 8           8

  Change in accounts:

    Receivables and deposits                                 104         156

    Other assets                                               4           1

    Accounts payable                                         (24)        (41)

    Accrued property taxes                                  (107)       (179)

    Tenant security deposit liabilities                       --           1

    Other liabilities                                          6          (2)

     Net cash provided by operating activities               189         132

Cash flows from investing activities:

Property improvements and replacements                       (56)        (20)

     Net withdrawals from (deposits to) restricted

       escrows                                                62         (38)

     Net cash provided by (used in) investing

       activities                                              6         (58)

Cash flows used in financing activities:

 Payments on mortgage notes payable                          (20)        (18)

Net increase in cash and cash equivalents                    175          56

Cash and cash equivalents at beginning of period             366         459

Cash and cash equivalents at end of period                $  541      $  515

Supplemental disclosure of cash flow information

  Cash paid for interest                                  $  145      $  146

          See Accompanying Notes to Consolidated Financial Statements


e)
                          CENTURY PROPERTIES FUND XVI
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  (Unaudited)


NOTE A - BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements of Century
Properties Fund XVI (the "Partnership") 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 partners are Fox Capital Management Corporation (the
"Managing General Partner" or "FCMC") and Fox Realty Investors ("FRI").  The
Managing General Partner is a subsidiary of Apartment Investment and Management
Company ("AIMCO"), a publicly traded real estate investment trust.  In the
opinion of the Managing General Partner, all adjustments (consisting of normal
recurring accruals) considered necessary for a fair presentation have been
included.  Operating results for the three month period ended March 31, 1999,
are not necessarily indicative of the results that may be expected for the
fiscal year ending December 31, 1999.  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, 1998.

Principles of Consolidation


The Partnership's financial statements include the accounts of the Partnership
and its wholly owned subsidiaries.

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 a 100% ownership interest in the Managing
General Partner.  The Managing General Partner does not believe that this
transaction 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 upon 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 transactions with
affiliates of the Managing General Partner were charged to expense for the three
months ended March 31, 1999 and 1998:

                                                           For the Three Months
                                                              Ended March 31,
                                                              1999        1998

                                                               (in thousands)

Property management fees (included in operating

  expenses)                                                  $  38      $  37

Reimbursement for services of affiliates (included

  in general and administrative and operating expenses)(1)      26         28


(1)  Included in "reimbursements for services of affiliates" for the three
     months ended March 31, 1998, is approximately $1,000 in reimbursements for
     construction oversight costs.  There were no such costs for the three
     months ended March 31, 1999.

During the three months ended March 31, 1999 and 1998, 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 $38,000 and $37,000 for the
three months ended March 31, 1999 and 1998, respectively.

An affiliate of the Managing General Partner received reimbursement of
accountable administrative expenses amounting to approximately $26,000 and
$28,000 for the three months ended March 31, 1999 and 1998, respectively.

NOTE D - SEGMENT REPORTING

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

The Partnership has one reportable segment: residential properties, consisting
of two apartment complexes located in Tampa, Florida and Houston, Texas.  The
Partnership rents apartment units to people for terms that are typically twelve
months or less.

Measurement of segment profit or loss:

The Partnership evaluates performance based on net income.  The accounting
policies of the reportable segment are the same as those of the Partnership as
described in the summary of significant accounting policies in the Partnership's
annual report on Form 10-KSB for the year ended December 31, 1998.

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 months ended March 31, 1999 and 1998 is shown
in the tables below (in thousands).  The 'Other' column includes Partnership
administration related items and income and expense not allocated to the
reportable segment.

                1999
                                     Residential   Other    Totals
Rental income                         $      737   $   --   $   737
Other income                                  23        3        26
Interest expense                             153       --       153
Depreciation                                 130       --       130
General and administrative expense            --       52        52
Segment profit (loss)                        117      (49)       68
Total assets                               8,373      379     8,752
Capital expenditures                          56       --        56

                1998
                                     Residential   Other    Totals
Rental income                         $      707   $   --   $   707
Other income                                  26        4        30
Interest expense                             154       --       154
Depreciation                                 121       --       121
General and administrative expense            --       53        53
Segment profit (loss)                        116      (49)       67
Total assets                               8,257      358     8,615
Capital expenditures                          20       --        20

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, the Managing General Partner and several of their affiliated
partnerships and corporate entities. The complaint 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 by Insignia Financial Group, Inc.
("Insignia") and entities which were, at one time, affiliates of Insignia
("Insignia Affiliates") of interests in certain general partner entities, past
tender offers by Insignia Affiliates to acquire limited partnership  funds, the
management of partnerships by Insignia Affiliates as well as a recently
announced agreement between Insignia and Apartment Investment and Management
Company.  The complaint seeks 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 has filed demurrers to the amended complaint which were heard
during February 1999.  No ruling on such demurrers has been received. The
Managing General Partner does not anticipate that costs associated with this
case, if any, 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.

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 disclosure
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 three
months ended March 31, 1999 and 1998:

                                                 Average Occupancy

Property                                       1999            1998


Ralston Place

  (formerly The Landings Apartments)

  Tampa, Florida                                97%            95%

Woods of Inverness Apartments

  Houston, Texas                                98%            97%


Results of Operations

The Registrant's net income for the three months ended March 31, 1999, was
$68,000 as compared to $67,000 for the same period in 1998 as an increase in
total revenues was offset by an increase in total expenses.  The increase in
total revenues is primarily attributable to an increase in rental income as a
result of increases in occupancy and average annual rental rates at Ralston
Place and Woods of Inverness as well as a decrease in rental concessions offered
by both of the properties.

Total expenses increased primarily due to an increase in property taxes at Woods
of Inverness resulting from the timing of the receipt of tax bills for 1999 and
1998 which affected the accruals recorded at March 31, 1999 and 1998.  All other
expenses remained relatively constant.

Included in general and administrative expense at both March 31, 1999 and 1998
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 conditions, there is no guarantee that the
Managing General Partner will be able to sustain such a plan.

Liquidity and Capital Resources

At March 31, 1999, the Registrant had cash and cash equivalents of approximately
$541,000 as compared to approximately $515,000 at March 31, 1998.  Cash and cash
equivalents increased approximately $175,000 for the period ended March 31,
1999, from the Registrant's fiscal year end and is primarily due to $189,000 of
cash provided by operating activities, and to a lesser extent, $6,000 of cash
provided by investing activities, which is partially offset by $20,000 of cash
used in financing activities. Cash provided by investing activities consisted of
net withdrawals from restricted escrows accounts maintained by the mortgage
lender and was partially offset by capital improvements.  Cash used in financing
activities consisted of payments of principal made on the mortgages encumbering
the Registrant's properties. The Registrant invests its working capital reserves
in money market 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.  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 both of the Registrant's properties are detailed below.

Woods of Inverness: Based on a report received from an independent third party
consultant analyzing necessary exterior improvements and estimates made by the
Managing General Partner on interior improvements, it is estimated that Woods of
Inverness requires approximately $246,000 of capital improvements over the near-
term.  The Partnership has budgeted, but is not limited to, capital improvements
of approximately $205,000 for 1999 at this property consisting of air
conditioning and electrical upgrades, flooring replacements and fencing repairs.
As of March 31, 1999, the Partnership spent approximately $34,000 on capital
improvements at Woods of Inverness, consisting primarily of fencing and flooring
replacements and swimming pool repairs.  These improvements were funded from
cash flow and replacement reserves.

Ralston Place: Based on a report received from an independent third party
consultant analyzing necessary exterior improvements and estimates made by the
Managing General Partner on interior improvements, it is estimated that Ralston
Place requires approximately $337,000 of capital improvements over the near-
term.  The Partnership has budgeted, but is not limited to, capital improvements
of approximately $341,000 for 1999 at this property consisting of roof
replacement project, structural repairs, appliance replacement and landscaping.
As of March 31, 1999, the Partnership spent approximately $22,000 on capital
improvements at Ralston Place, consisting primarily of flooring and appliance
replacements.  These improvements were funded from cash flow and replacement
reserves.

The additional capital expenditures will be incurred only if cash is available
from operations or from 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 $7,327,000 is amortized over 360 months with a
balloon payment of approximately $6,618,000 due January 1, 2006.  The Managing
General Partner will attempt to refinance such indebtedness and/or sell the
properties prior to such maturity date.  If the properties cannot be refinanced
or sold for a sufficient amount, the Registrant will risk losing such properties
through foreclosure.

The Partnership did not make any distributions to its partners during 1999 or
1998. 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 Partnership's distribution
policy will be reviewed on a quarterly basis. There can be no assurance,
however, that the Partnership will generate sufficient funds from operations,
after planned capital expenditures, to permit distributions to its partners in
1999 or subsequent periods.

Potential Tender Offer

On October 1, 1998,  Insignia Financial Group, Inc. merged into Apartment
Investment and Management Company ("AIMCO"), a real estate investment trust,
whose Class A Common Shares are listed on the New York Stock Exchange. As a
result of such merger, AIMCO and AIMCO Properties, L.P., a Delaware limited
partnership and the operating partnership of AIMCO ("AIMCO OP") acquired
indirect control of the Managing General Partner.  AIMCO and its affiliates
currently own 36.476% of the limited partnership interests in the Partnership.

AIMCO is presently considering whether it will engage in an exchange offer for
additional limited partnership interests in the Partnership. There is a
substantial likelihood that, within a short period of time, AIMCO OP will offer
to acquire limited partnership interests in the Partnership for cash or
preferred units or common units of limited partnership interests in AIMCO OP.
While such an exchange offer is possible, no definite plans exist as to when or
whether to commence such an exchange offer, or as to the terms of any such
exchange offer, and it is possible that none will occur.

A registration statement relating to these securities has been filed with the
Securities and Exchange Commission but has not yet become effective. These
securities may not be sold nor may offers to buy be accepted prior to the time
the registration statement becomes effective. This Form 10-QSB shall not
constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such state.

Year 2000 Compliance

General Description of the Year 2000 Issue and the Nature and Effects of the
Year 2000 on Information Technology (IT) and Non-IT Systems

The Year 2000 issue is the result of computer programs being written using two
digits rather than four digits to define the applicable year.  The Partnership
is dependent upon the Managing General Partner and its affiliates for management
and administrative services ("Managing Agent").  Any of the computer programs or
hardware that have date-sensitive software or embedded chips may recognize a
date using "00" as the year 1900 rather than the year 2000.  This could result
in a system failure or miscalculations causing disruptions of operations,
including, among other things, a temporary inability to process transactions,
send invoices, or engage in similar normal business activities.

Over the past two years, the Managing Agent has determined that it will be
required to modify or replace significant portions of its software and certain
hardware so that those systems will properly utilize dates beyond December 31,
1999.  The Managing Agent presently believes that with modifications or
replacements of existing software and certain hardware, the Year 2000 issue can
be mitigated.  However, if such modifications and replacements are not made, or
not completed in time, the Year 2000 issue could have a material impact on the
operations of the Partnership.

The Managing Agent's plan to resolve Year 2000 issues involves four phases:
assessment, remediation, testing, and implementation.  To date, the Managing
Agent has fully completed its assessment of all the information systems that
could be significantly affected by the Year 2000, and has begun the remediation,
testing and implementation phases on both hardware and software systems.
Assessments are continuing in regards to embedded systems.  The status of each
is detailed below.

Status of Progress in Becoming Year 2000 Compliant, Including Timetable for
Completion of Each Remaining Phase

Computer Hardware:

During 1997 and 1998, the Managing Agent identified all of the computer systems
at risk and formulated a plan to repair or replace each of the affected systems.
In August 1998, the mainframe system used by the Managing Agent became fully
functional.  In addition to the mainframe, PC-based network servers, routers and
desktop PCs were analyzed for compliance.  The Managing Agent has begun to
replace each of the non-compliant network connections and desktop PCs and, as of
March 31, 1999, had completed approximately 75% of this effort.

The total cost to the Managing Agent to replace the PC-based network servers,
routers and desktop PCs is expected to be approximately $1.5 million of which
$1.3 million has been incurred to date.  The remaining network connections and
desktop PCs are expected to be upgraded to Year 2000 compliant systems by July
31, 1999.

Computer Software:

The Managing Agent utilizes a combination of off-the-shelf, commercially
available software programs as well as custom-written programs that are designed
to fit specific needs.  Both of these types of programs were studied, and
implementation plans written and executed with the intent of repairing or
replacing any non-compliant software programs.

During 1998, the Managing Agent began converting the existing property
management and rent collection systems to its management properties Year 2000
compliant systems.  The estimated additional costs to convert such systems at
all properties, is $200,000, and the implementation and the testing process is
expected to be completed by July 31, 1999.

The final software area is the office software and server operating systems.
The Managing Agent has upgraded all non-compliant office software systems on
each PC and has upgraded 80% of the server operating systems.  The remaining
server operating systems are planned to be upgraded to be Year 2000 compliant by
July 31, 1999.

Operating Equipment:

The Managing Agent has operating equipment, primarily at the property sites,
which needed to be evaluated for Year 2000 compliance.  In September 1997, the
Managing Agent began taking a census and inventory of embedded systems
(including those devices that use time to control systems and machines at
specific properties, for example elevators, heating, ventilating, and air
conditioning systems, security and alarm systems, etc.).

The Managing Agent has chosen to focus its attention mainly upon security
systems, elevators, heating, ventilating and air conditioning systems, telephone
systems and switches, and sprinkler systems.  While this area is the most
difficult to fully research adequately, management has not yet found any major
non-compliance issues that put the Managing Agent at risk financially or
operationally.  The Managing Agent intends to have a third-party conduct an
audit of these systems and report their findings by July 31, 1999.

Any of the above operating equipment that has been found to be non-compliant to
date has been replaced or repaired.  To date, these have consisted only of
security systems and phone systems.  As of March 31, 1999 the Managing Agent has
evaluated approximately 86% of the operating equipment for the Year 2000
compliance.

The total cost incurred for all properties managed by the Managing Agent as of
March 31, 1999 to replace or repair the operating equipment was approximately
$400,000.  The Managing Agent estimates the cost to replace or repair any
remaining operating equipment is approximately $325,000, which is expected to be
completed by August 30, 1999.

The Managing Agent continues to have "awareness campaigns" throughout the
organization designed to raise awareness and report any possible compliance
issues regarding operating equipment within its enterprise.

Nature and Level of Importance of Third Parties and Their Exposure to the Year
2000

The Managing Agent continues to conduct surveys of its banking and other vendor
relationships to assess risks regarding their Year 2000 readiness.  The Managing
Agent has banking relationships with three major financial institutions, all of
which have indicated their compliance efforts will be complete before May 1999.
The Managing Agent has updated data transmission standards with two of the three
financial institutions.  The Managing Agent's contingency plan in this regard is
to move accounts from any institution that cannot be certified Year 2000
compliant by June 1, 1999.

The Partnership does not rely heavily on any single vendor for goods and
services, and does not have significant suppliers and subcontractors who share
information systems (external agent).  To date the Partnership is not aware of
any external agent with a Year 2000 compliance issue that would materially
impact the Partnership's results of operations, liquidity, or capital resources.
However, the Partnership has no means of ensuring that external agents will be
Year 2000 compliant.

The Managing Agent does not believe that the inability of external agents to
complete their Year 2000 remediation process in a timely manner will have a
material impact on the financial position or results of operations of the
Partnership.  However, the effect of non-compliance by external agents is not
readily determinable.


Costs to Address Year 2000

The total cost of the Year 2000 project to the Managing Agent is estimated at
$3.5 million and is being funded from operating cash flows.  To date, the
Managing Agent has incurred approximately $2.8 million ($0.6 million expensed
and $2.2 million capitalized for new systems and equipment) related to all
phases of the Year 2000 project.  Of the total remaining project costs,
approximately $0.5 million is attributable to the purchase of new software and
operating equipment, which will be capitalized.  The remaining $0.2 million
relates to repair of hardware and software and will be expensed as incurred.
The Partnership's portion of these costs are not material.

Risks Associated with the Year 2000

The Managing Agent believes it has an effective program in place to resolve the
Year 2000 issue in a timely manner.  As noted above, the Managing Agent has not
yet completed all necessary phases of the Year 2000 program.  In the event that
the Managing Agent does not complete any additional phases, certain worst case
scenarios could occur.  The worst case scenarios could include elevators,
security and heating, ventilating and air conditioning systems that read
incorrect dates and operate with incorrect schedules (e.g., elevators will
operate on Monday as if it were Sunday). Although such a change would be
annoying to residents, it is not business critical.

In addition, disruptions in the economy generally resulting from Year 2000
issues could also adversely affect the Partnership.  The Partnership could be
subject to litigation for, among other things, computer system failures,
equipment shutdowns or failure to properly date business records.  The amount of
potential liability and lost revenue cannot be reasonably estimated at this
time.

Contingency Plans Associated with the Year 2000

The Managing Agent has contingency plans for certain critical applications and
is working on such plans for others.  These contingency plans involve, among
other actions, manual workarounds and selecting new relationships for such
activities as banking relationships and elevator operating systems.


                          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, the Managing General Partner and several of their affiliated
partnerships and corporate entities. The complaint 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 by Insignia Financial Group, Inc.
("Insignia") and entities which were, at one time, affiliates of Insignia
("Insignia Affiliates") of interests in certain general partner entities, past
tender offers by Insignia Affiliates to acquire limited partnership funds, the
management of partnerships by Insignia Affiliates as well as a recently
announced agreement between Insignia and Apartment Investment and Management
Company. The complaint seeks 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 has filed demurrers to the amended complaint which were heard
during February 1999.  No ruling on such demurrers has been received. The
Managing General Partner does not anticipate that costs associated with this
case, if any, will be material to the Partnership's overall operations.

ITEM 6.   EXHIBITS AND REPORTS ON FORM 8-K

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

b)   Reports on Form 8-K:  None.



                                   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 XVI

                              By:  Fox Capital Management Corporation,
                                   Managing General Partner


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


                              By:  /s/Timothy R. Garrick
                                   Timothy R. Garrick
                                   Vice President - Accounting


                            Date:  May 4, 1999