FORM 10-QSB--QUARTERLY OR TRANSITIONAL REPORT UNDER SECTION 13 OR 15(D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934
                        QUARTERLY OR TRANSITIONAL REPORT

                    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 June 30, 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)

                                 June 30, 1999




Assets

   Cash and cash equivalents                                       $   661

   Receivables and deposits                                            264

   Other assets                                                        215

   Restricted escrows                                                   52

   Investment properties:

      Land                                           $  1,409

         Buildings and related personal property       14,275

                                                       15,684

      Less accumulated depreciation                    (8,059)       7,625

                                                                   $ 8,817

Liabilities and Partners' (Deficit) Capital

Liabilities

      Accounts payable                                             $    32

      Accrued property taxes                                           126

      Tenant security deposit liabilities                               51

      Other liabilities                                                121

      Mortgage notes payable                                         7,307

Partners' (Deficit) Capital

      General partners                               $(3,823)

      Limited partners (130,000 units issued

         and outstanding)                              5,003         1,180

                                                                   $ 8,817


          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       Six Months Ended

                                         June 30,                June 30,

                                     1999         1998        1999       1998

Revenues:

  Rental income                   $   735      $   714      $  1,472   $  1,421

  Other income                         28           31            54         61

    Total revenues                    763          745         1,526      1,482

Expenses:

  Operating                           262          365           558        664

  General and administrative           68           46           120         99

  Depreciation                        125          121           255        242

  Interest                            152          153           305        307

  Property tax                         65           58           129        101

    Total expenses                    672          743         1,367      1,413

    Net income                    $    91      $     2      $    159   $     69

Net income allocated to

 general partners (6.9%)          $     6      $    --      $     11   $      5

Net income allocated to

 limited partners (93.1%)              85            2           148         64

                                  $    91      $     2      $    159   $     69

Net income per limited

 partnership unit                 $   .66      $   .02      $   1.14   $    .49


          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 six months

  ended June 30, 1999                   --           11        148       159


Partners' (deficit) capital at

  June 30, 1999                    130,000      $(3,823)   $ 5,003   $ 1,180


          See Accompanying Notes to Consolidated Financial Statements
d)
                          CENTURY PROPERTIES FUND XVI
                     CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (Unaudited)
                                 (in thousands)




                                                           Six Months Ended

                                                                June 30,

                                                            1999         1998

Cash flows from operating activities:

  Net income                                              $  159       $   69

  Adjustments to reconcile net income to net cash

     provided by operating activities:

     Depreciation                                            255          242

     Amortization of loan costs                               16           16

     Change in accounts:

          Receivables and deposits                           106           42

          Other assets                                         2            7

          Accounts payable                                   (24)         (19)

          Accrued property taxes                            (119)        (121)

          Tenant security deposit liabilities                 --            1

          Other liabilities                                   12            6

             Net cash provided by operating activities       407          243

Cash flows from investing activities:

  Property improvements and replacements                    (120)        (114)

  Net withdrawals from restricted escrows                     48           46

             Net cash used in investing activities           (72)         (68)

Cash flows used in financing activities:

  Payments on mortgage notes payable                         (40)         (37)

Net increase in cash and cash equivalents                    295          138

Cash and cash equivalents at beginning of period             366          459

Cash and cash equivalents at end of period                $  661       $  597

Supplemental disclosure of cash flow information:

   Cash paid for interest                                 $  289       $  291

          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" 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 partners are Fox Capital
Management Corporation (the "Managing General Partner" or "FCMC") and Fox Realty
Investors ("FRI").  The Managing General Partner and the managing general
partner of FRI are subsidiaries 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 and six month periods ended June 30, 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 100% ownership interest in the Managing
General Partner and the managing general partner of FRI.  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 six
months ended June 30, 1999 and 1998:
                                                                 1999     1998

                                                                (in thousands)

Property management fees (included in operating

  expenses)                                                   $  76       $  74

Reimbursement for services of affiliates (included

  in general and administrative and operating expenses)          49          55


During the six months ended June 30, 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 $76,000 and $74,000 for the six
months ended June 30, 1999 and 1998, respectively.

An affiliate of the Managing General Partner received reimbursement of
accountable administrative expenses amounting to approximately $49,000 and
$55,000 for the six months ended June 30, 1999 and 1998, respectively. Included
in these expenses for both of the six month periods ended June 30, 1999 and
1998, is approximately $2,000 in reimbursements for construction oversight
costs.

On June 9, 1999, AIMCO Properties, L.P., an affiliate of the Managing General
Partner commenced a tender offer to purchase up to 37,586.25 (41.77% of the
total outstanding units) units of limited partnership interest in the
Partnership for a purchase price of $54 per unit.  The offer expired on July 30,
1999.  Pursuant to the offer, AIMCO Properties, L.P. acquired 3,381.00 units.
As a result, AIMCO and its affiliates currently own 50,799.68 units of limited
partnership interest in the Partnership representing 39.08% of the total
outstanding units.  It is possible that AIMCO or its affiliate 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.

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 six months ended June 30, 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                         $    1,472   $   --   $ 1,472
Other income                                  48        6        54
Interest expense                             305       --       305
Depreciation                                 255       --       255
General and administrative expense            --      120       120
Segment profit (loss)                        273     (114)      159
Total assets                               8,496      321     8,817
Capital expenditures                         120       --       120

                1998
                                     Residential   Other    Totals
Rental income                         $    1,421   $   --   $ 1,421
Other income                                  52        9        61
Interest expense                             307       --       307
Depreciation                                 242       --       242
General and administrative expense            --       99        99
Segment profit (loss)                        159      (90)       69
Total assets                               8,181      505     8,686
Capital expenditures                         114       --       114

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
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, 1999 and 1998:


                                               Average Occupancy

Property                                       1999            1998

Ralston Place

  (formerly The Landings Apartments)

  Tampa, Florida                                96%            95%

Woods of Inverness Apartments

  Houston, Texas                                98%            97%

Results of Operations

The Registrant's net income for the six months ended June 30, 1999 was
approximately $159,000 as compared to approximately $69,000 for the same period
in 1998.  The Registrant's net income for the three months ended June 30, 1999
was approximately $91,000 as compared to a net income of approximately $2,000
for the three months ended June 30, 1998.  Net income increased for both the
three and six months ended June 30, 1999 as compared to the same periods in 1998
as a result of an increase in total revenues and a decrease 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 both investment properties as well as a decrease in rental concessions
offered at Woods of Inverness.

Total expenses decreased primarily due to reductions in operating expenses,
partially offset by increases in general and administrative, depreciation and
property tax expenses.  Operating expenses decreased due to reductions in
maintenance and insurance expense.  Maintenance expense decreased primarily due
to the completion of a landscaping project and tennis court repairs at Woods of
Inverness, and the completion of exterior building improvements and parking lot
repairs at Ralston Place during the six months ended June 30, 1998.  Insurance
expense decreased due to a refund of prior premiums paid at Woods of Inverness
upon cancellation of the policy and reduced premiums at both properties due to a
change in insurance carriers.

The increase in general and administrative expenses is primarily due to
increased legal costs as a result of the settlement of a legal proceeding in the
first quarter of 1999. The increase in depreciation expense is a result of the
amounts spent on capital expenditures during the third and fourth quarters of
1998 and first and second quarters of 1999.  Property taxes increased resulting
from an increase in the assessment value of Woods of Inverness.

Included in general and administrative expense at both June 30, 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 June 30, 1999, the Registrant had cash and cash equivalents of approximately
$661,000 as compared to approximately $597,000 at June 30, 1998.  Cash and cash
equivalents increased approximately $295,000 for the period ended June 30, 1999,
from the Registrant's fiscal year end. The increase in cash and cash equivalents
as compared to year end is due to approximately $407,000 of cash provided by
operating activities, being only partially offset by approximately $72,000 of
cash used by investing activities and approximately $40,000 of cash used in
financing activities. Cash used in investing activities consisted of capital
improvements and was partially offset by net withdrawals from restricted escrow
accounts maintained by the mortgage lender.  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 next
few years.  The Partnership has budgeted, but is not limited to, capital
improvements of approximately $205,000 for 1999 at this property which include
certain of the required improvements and consist of air conditioning and
electrical upgrades, flooring replacements, swimming pool, parking lot and
fencing repairs.  As of June 30, 1999, the Partnership has spent approximately
$70,000 on capital improvements at Woods of Inverness, consisting primarily of
fencing and flooring replacements, landscaping, and swimming pool and parking
lot 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 next few
years.  The Partnership has budgeted, but is not limited to, capital
improvements of approximately $341,000 for 1999 at this property which include
certain of the required improvements and consist of roof replacement project,
structural repairs, appliance replacement and landscaping.  As of June 30, 1999,
the Partnership has spent approximately $50,000 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 $7,307,000 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.

Tender Offer

On June 9, 1999, AIMCO Properties, L.P., an affiliate of the Managing General
Partner commenced a tender offer to purchase up to 37,586.25 (41.77% of the
total outstanding units) units of limited partnership interest in the
Partnership for a purchase price of $54 per unit.  The offer expired on July 30,
1999.  Pursuant to the offer, AIMCO Properties, L.P. acquired 3,381.00 units.
As a result, AIMCO and its affiliates currently own 50,799.68 units of limited
partnership interest in the Partnership representing 39.08% of the total
outstanding units.  It is possible that AIMCO or its affiliate 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.

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 main computer system used by the Managing Agent became fully
functional. In addition to the main computer system, 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 June 30, 1999, had completed approximately 90% 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
September 30, 1999.  The completion of this process is scheduled to coincide
with the release of a compliant version of the Managing Agent's operating
system.

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.

In April, 1999 the Managing Agent embarked on a data center consolidation
project that unifies its core financial systems under its Year 2000 compliant
system.  The estimated completion date for this project is October, 1999.

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 testing process was
completed in June, 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 90% of the server operating systems.  The remaining
server operating systems are planned to be upgraded to be Year 2000 compliant by
September, 1999.  The completion of this process is scheduled to coincide with
the release of a compliant version of the Managing Agent's operating system.

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.

A pre-assessment of the properties by the Managing Agent has indicated no Year
2000 issues.  A complete, formal assessment of all the properties by the
Managing Agent is in process and will be completed in September, 1999.  Any
operating equipment that is found non-compliant will be repaired or replaced.

The total cost incurred for all properties managed by the Managing Agent as of
June 30, 1999 to replace or repair the operating equipment was approximately
$75,000. The Managing Agent estimates the cost to replace or repair any
remaining operating equipment is approximately $125,000.

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 July,
1999. The Managing Agent has updated data transmission standards with all of the
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 September 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 $2.9 million ($0.7 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 filed during the quarter ended June 30, 1999.

                                   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/Carla R. Stoner
                                        Carla R. Stoner
                                        Senior Vice President
                                        Finance and Administration

                               Date:    August 6, 1999