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 Section 13 or 15(d) of the Securities
      Exchange  Act of 1934

                 For the quarterly period ended June 30, 2000


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


             For the transition period from _________to _________

                         Commission file number 0-10435

                         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, 2000

Assets

   Cash and cash equivalents                                       $   165
   Receivables and deposits                                            229
   Restricted escrows                                                  121
   Other assets                                                        219
   Investment properties:
      Land                                             $ 1,409
      Buildings and related personal property            15,020
                                                         16,429
      Less accumulated depreciation                      (8,646)     7,783
                                                                   $ 8,517

Liabilities and Partners' (Deficit) Capital
Liabilities

   Accounts payable                                                $    88
   Accrued property taxes                                              130
   Tenant security deposit liabilities                                  41
   Other liabilities                                                   126
   Mortgage notes payable                                            7,222

Partners' (Deficit) Capital

   General partners                                    $ (3,842)
   Limited partners (130,000 units issued and
      outstanding)                                       4,752         910
                                                                   $ 8,517

         See Accompanying Notes to Consolidated Financial Statements

b)

                           CENTURY PROPERTIES FUND XVI

                      CONSOLIDATED STATEMENTS OF OPERATIONS

                                   (Unaudited)

                       (in thousands, except unit data)
<TABLE>
<CAPTION>

                                      Three Months Ended         Six Months Ended
                                            June 30,                  June 30,
                                       2000          1999         2000         1999
 Revenues:
<S>                                <C>           <C>          <C>          <C>
   Rental income                   $   753       $   735      $  1,486     $  1,472
   Other income                         46            28            79           54
      Total revenues                   799           763         1,565        1,526
Expenses:
   Operating                           304           262           611          558
   General and administrative           50            68            97          120
   Depreciation                        155           125           304          255
   Interest                            151           152           301          305
   Property tax                          66           65           118          129
      Total expenses                   726           672         1,431        1,367
      Net income                   $    73       $    91      $    134     $    159
Net income allocated to
  general partners (6.9%)          $     5       $     6      $      9     $     11
Net income allocated to
   limited partners (93.1%)             68            85           125          148
                                   $    73       $    91      $    134     $    159
Net income per limited
  partnership unit                 $   .52       $   .65      $    .96     $   1.14
Distributions per limited
  partnership unit                 $  1.98       $    --      $   1.98     $     --

         See Accompanying Notes to Consolidated Financial Statements
</TABLE>



c)

                         CENTURY PROPERTIES FUND XVI
       CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' (DEFICIT) CAPITAL
                                   (Unaudited)

                       (in thousands, except unit data)


<TABLE>
<CAPTION>

                                     Limited
                                   Partnership    General     Limited
                                      Units      Partners     Partners      Total

<S>                                  <C>         <C>          <C>          <C>
Original capital contributions       130,000     $     --     $65,000      $65,000

Partners' (deficit) capital
   at December 31, 1999              130,000     $ (3,832)    $ 4,884      $ 1,052

Distributions to partners                             (19)        (257)       (276)

Net income for the six months
   ended June 30, 2000                    --            9         125          134

Partners' (deficit) capital
   at June 30, 2000                  130,000     $ (3,842)    $ 4,752      $   910


         See Accompanying Notes to Consolidated Financial Statements
</TABLE>


d)
                           CENTURY PROPERTIES FUND XVI

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                                   (Unaudited)

                                  (in thousands)

<TABLE>
<CAPTION>

                                                                 Six Months Ended
                                                                      June 30,

                                                                  2000        1999
Cash flows from operating activities:

<S>                                                             <C>         <C>
  Net income                                                    $    134    $    159
  Adjustments to reconcile net income to net
   cash provided by operating activities:
   Depreciation                                                      304         255
   Amortization of loan costs                                         16          16
   Change in accounts:
      Receivables and deposits                                        95         106
      Other assets                                                    (4)          2
      Accounts payable                                               (26)        (24)
      Accrued property taxes                                         (50)       (119)
      Tenant security deposit liabilities                             (1)         --
      Other liabilities                                              (66)         12

       Net cash provided by operating activities                     402         407

Cash flows from investing activities:

  Property improvements and replacements                            (375)       (120)
  Net (deposits to) withdrawals from restricted escrows              (11)         48

       Net cash used in investing activities                        (386)        (72)

Cash flows from financing activities:

  Distributions to partners                                         (276)         --
  Payments on mortgage notes payable                                 (43)        (40)

       Net cash used in financing activities                        (319)        (40)

Net (decrease) increase in cash and cash equivalents                (303)        295

Cash and cash equivalents at beginning of period                     468         366

Cash and cash equivalents at end of period                      $    165    $    661

Supplemental disclosure of cash flow information:

  Cash paid for interest                                        $    285    $    289

         See Accompanying Notes to Consolidated Financial Statements
</TABLE>


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 the "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, 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 fiscal year ended  December
31, 1999.

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, a publicly traded real estate  investment  trust,  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  transactions  with
affiliates of the Managing General Partner were paid during the six months ended
June 30, 2000 and 1999:

                                                                  2000      1999
                                                                  (in thousands)

 Property management fees (included in operating expenses)        $ 78      $ 76

 Reimbursement for services of affiliates (included in
   investment properties, general and administrative
   and operating expenses)                                          59        49

During the six months ended June 30, 2000 and 1999,  affiliates  of the Managing
General  Partner were entitled to receive 5% of gross  receipts from both of the
Registrant's   properties  for  providing  property  management  services.   The
Registrant paid to such affiliates approximately $78,000 and $76,000 for the six
months ended June 30, 2000 and 1999, respectively.

An  affiliate  of  the  Managing  General  Partner  received   reimbursement  of
accountable  administrative  expenses  amounting  to  approximately  $59,000 and
$49,000 for the six months ended June 30, 2000 and 1999, respectively.

AIMCO and its affiliates  currently own 71,628.02  limited  partnership units in
the Partnership  representing  approximately  55.10% of the outstanding units. A
number of these units were acquired pursuant to tender offers made by AIMCO, its
affiliates or affiliates of the Managing  General  Partner.  It is possible that
AIMCO or its  affiliates  will make one or more  additional  offers  to  acquire
additional  limited  partnership  interests  in the  Partnership  for cash or in
exchange for units in the operating  partnership of AIMCO. Under the Partnership
Agreement,  unitholders  holding a majority  of the Units are  entitled  to take
action with  respect to a variety of matters.  As a result of its  ownership  of
approximately  55.10%  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,  with  respect  to
47,326.68 units, Insignia Properties, L.P., an affiliate of the Managing General
Partner,   is  required  to  vote  such  Units:  (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 Insignia  Properties,  L.P.'s  ability to  influence
voting decisions with respect to the Partnership.

Note D - Segment Reporting

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

The Partnership has one reportable segment:  residential properties,  consisting
of two apartment  complexes,  one of which is located in Tampa,  Florida and the
other in Houston,  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 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, 1999.

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

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

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

   Three Months Ended June 30, 2000    Residential     Other     Totals

Rental income                            $   753      $   --       $ 753
Other income                                  46          --          46
Interest expense                             151          --         151
Depreciation                                 155          --         155
General and administrative expense            --          50          50
Segment profit (loss)                        123         (50)         73

    Six Months Ended June 30, 2000     Residential     Other     Totals

Rental income                            $ 1,486     $    --     $ 1,486
Other income                                  78           1          79
Interest expense                             301          --         301
Depreciation                                 304          --         304
General and administrative expense            --          97          97
Segment profit (loss)                        230         (96)        134
Total assets                               8,507          10       8,517
Capital expenditures for investment
  properties                                 375          --         375

   Three Months Ended June 30, 1999    Residential     Other      Totals

Rental income                             $ 735       $   --       $ 735
Other income                                  25           3          28
Interest expense                             152          --         152
Depreciation                                 125          --         125
General and administrative expense            --          68          68
Segment profit (loss)                        156         (65)         91

    Six Months Ended June 30, 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

Note E - Legal Proceedings

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial  Group,  Inc., et al. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the  Partnership,  its Managing  General Partner and several of their affiliated
partnerships  and corporate  entities.  The action  purports to assert claims on
behalf of a class of limited  partners and derivatively on behalf of a number of
limited  partnerships  (including  the  Partnership)  which are named as nominal
defendants,  challenging the acquisition of interests in certain general partner
entities by Insignia Financial Group, Inc. and entities which were, at one time,
affiliates of Insignia; past tender offers by the Insignia affiliates to acquire
limited  partnership  units;  the  management  of  partnerships  by the Insignia
affiliates;  and the Insignia  Merger.  The plaintiffs seek monetary damages and
equitable relief, including judicial dissolution of the Partnership. On June 25,
1998,  the Managing  General  Partner  filed a motion  seeking  dismissal of the
action.  In lieu of  responding  to the  motion,  the  plaintiffs  have filed an
amended  complaint.  The Managing General Partner filed demurrers to the amended
complaint which were heard February 1999.

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims,  subject to final court approval,  on behalf of the Partnership
and all limited  partners  who owned  units as of November 3, 1999.  Preliminary
approval of the settlement  was obtained on November 3, 1999 from the Court,  at
which time the Court set a final approval  hearing for December 10, 1999.  Prior
to the December 10, 1999 hearing,  the Court received various  objections to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December 14, 1999, the Managing  General  Partner and its affiliates  terminated
the  proposed  settlement.  In  February  2000,  counsel  for some of the  named
plaintiffs filed a motion to disqualify plaintiff's lead and liaison counsel who
negotiated  the  settlement.  On June  27,  2000,  the  Court  entered  an order
disqualifying them from the case. The Court will entertain applications for lead
counsel which must be filed by August 4, 2000. The Court has scheduled a hearing
on August 21, 2000 to address the issue of appointing lead counsel. The Managing
General Partner does not anticipate that costs associated with this case will be
material to the Partnership's overall operations.

The  Partnership is unaware of any other pending or outstanding  litigation that
is not of a routine nature arising in the ordinary course of business.

ITEM 2.     MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

The  matters  discussed  in this Form  10-QSB  contain  certain  forward-looking
statements  and  involve  risks and  uncertainties  (including  changing  market
conditions,   competitive  and  regulatory   matters,   etc.)  detailed  in  the
disclosures  contained  in this  Form  10-QSB  and the  other  filings  with the
Securities and Exchange Commission made by the Registrant from time to time. The
discussion of the  Registrant's  business and results of  operations,  including
forward-looking  statements  pertaining  to such  matters,  does not  take  into
account the effects of any changes to the  Registrant's  business and results of
operation.  Accordingly,  actual  results  could  differ  materially  from those
projected in the forward-looking  statements as a result of a number of factors,
including those identified herein.

The Partnership's  investment properties consist of two apartment complexes. The
following  table sets forth the average  occupancy of the properties for the six
months ended June 30, 2000 and 1999:

                                                   Average Occupancy

      Property                                      2000       1999

      Ralston Place                                 96%        96%
        (formerly The Landings Apartments)
         Tampa, Florida

      Woods of Inverness Apartments                 94%        98%
        Houston, Texas

The Managing  General  Partner  attributes the decrease in occupancy at Woods of
Inverness  Apartments  to an increase in tenants  purchasing  homes and employee
transfers out of the Houston market.

Results of Operations

The  Registrant's  net  income  for the six  months  ended  June  30,  2000  was
approximately   $134,000  as  compared  to   approximately   $159,000   for  the
corresponding  period in 1999. The  Registrant's net income for the three months
ended  June 30,  2000 was  approximately  $73,000 as  compared  to net income of
approximately  $91,000  for the three  months  ended June 30,  1999.  Net income
decreased  slightly  for both the three and six months  ended  June 30,  2000 as
compared  to the  same  periods  in 1999 as a  result  of an  increase  in total
expenses which more than offset an increase in total  revenues.  The increase in
total  expenses  is  primarily  attributable  to an increase  in  operating  and
depreciation  expenses which were partially offset by reductions in property tax
and general and administrative  expenses.  Operating expense increased due to an
increase in advertising expense at both investment  properties.  The increase in
depreciation  expense is primarily  attributable  to the increase in depreciable
assets  put into  service  in the  last  twelve  months.  Property  tax  expense
decreased at the Woods of Inverness  Apartments resulting from the timing of the
receipt of tax bills for 1999 which  affected the accruals  recorded at June 30,
2000 and 1999. The decrease in general and administrative  expenses is primarily
due to decreased legal costs as a result of the settlement of a legal proceeding
in the first quarter of 1999.

Included in general and administrative expense for both of the six month periods
ended  June 30,  2000 and 1999 are  management  reimbursements  to the  Managing
General  Partner  allowed under the Partnership  Agreement.  In addition,  costs
associated  with the  quarterly  and annual  communications  with  investors and
regulatory  agencies and the annual audit required by the Partnership  Agreement
are also included.

Total revenues  increased for both the three and six months ended June 30, 2000,
as compared to the same periods in 1999.  The increase in total revenues was the
result of increased  rental and other income at both  properties.  Rental income
increased due to an increase in average rental rates at both  properties  offset
by a slight decrease in occupancy at Woods of Inverness Apartments. Other income
increased at Ralston  Place as a result of the receipt of incentive  income from
the water company for installing water saving devices.

As part of the ongoing  business plan of the  Partnership,  the Managing General
Partner monitors the rental market  environment of its investment  properties to
assess the feasibility of increasing rents,  maintaining or increasing occupancy
levels and protecting  the  Partnership  from increases in expenses.  As part of
this plan, the Managing General Partner attempts to protect the Partnership from
the burden of  inflation-related  increases in expenses by increasing  rents and
maintaining a high overall  occupancy  level.  However,  due to changing  market
conditions,  which  can  result  in the use of  rental  concessions  and  rental
reductions to offset softening market conditions, there is no guarantee that the
Managing General Partner will be able to sustain such a plan.

Liquidity and Capital Resources

At June 30, 2000, the Registrant had cash and cash  equivalents of approximately
$165,000 as compared to  approximately  $661,000 at June 30, 1999. Cash and cash
equivalents decreased  approximately $303,000 for the period ended June 30, 2000
from the Registrant's fiscal year end. The decrease in cash and cash equivalents
is due to  approximately  $386,000  of cash  used in  investing  activities  and
approximately $319,000 of cash used in financing activities, partially offset by
approximately  $402,000 of cash provided by operating  activities.  Cash used in
investing  activities consisted of capital improvements and replacements and, to
a lesser extent,  net deposits to restricted  escrow accounts  maintained by the
mortgage  lender.  Cash used in  financing  activities  consisted  primarily  of
distributions  to the partners  and, to a lesser  extent,  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 the Partnership's properties are detailed below.

Woods of Inverness: For 2000 the Partnership has budgeted approximately $210,000
for capital improvements at Woods of Inverness consisting primarily of appliance
and flooring replacements,  parking lot and structural improvements.  As of June
30, 2000 the property has spent approximately  $216,000 in capital  expenditures
consisting   primarily  of   appliances,   floor  covering   replacements,   air
conditioning  replacements,  major  landscaping,  parking lot  resurfacing,  and
structural   improvements.   These   improvements  were  funded  primarily  from
replacement reserves and operations.  Additional  improvements may be considered
and will depend on the physical condition of the property as well as replacement
reserves and anticipated cash flow generated by the property.

Ralston Place: For 2000 the Partnership has budgeted  approximately $283,000 for
capital  improvements  at Ralston  Place  consisting  primarily  of  appliances,
plumbing,   air  conditioning   and  flooring   replacements,   fencing,   major
landscaping, recreational facility, pool and structural improvements. As of June
30, 2000 the property has spent approximately  $159,000 in capital  expenditures
consisting primarily of plumbing fixture  replacements,  appliances,  structural
improvements,  and floor covering  replacements.  These improvements were funded
primarily from  operations.  Additional  improvements may be considered and will
depend on the physical condition of the property as well as replacement reserves
and anticipated cash flow generated by the property.

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  $7,222,000 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.

Cash  distributions  from operations of approximately  $276,000 were paid during
the six months ended June 30, 2000, of which approximately  $257,000 was paid to
limited  partners ($1.98 per limited  partnership  unit). No cash  distributions
were made during the six months ended June 30, 1999.  Future cash  distributions
will  depend  on  the  levels  of  net  cash  generated  from  operations,   the
availability of cash reserves, and the timing of debt maturities,  refinancings,
and/or property sales. The  Partnership's  distribution  policy is reviewed on a
semi-annual 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  during  the  remainder  of  2000 or
subsequent periods.

                           PART II - OTHER INFORMATION

ITEM 1.     LEGAL PROCEEDINGS

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial  Group,  Inc., et al. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the  Partnership,  its Managing  General Partner and several of their affiliated
partnerships  and corporate  entities.  The action  purports to assert claims on
behalf of a class of limited  partners and derivatively on behalf of a number of
limited  partnerships  (including  the  Partnership)  which are named as nominal
defendants,  challenging the acquisition of interests in certain general partner
entities by Insignia Financial Group, Inc. and entities which were, at one time,
affiliates of Insignia; past tender offers by the Insignia affiliates to acquire
limited  partnership  units;  the  management  of  partnerships  by the Insignia
affiliates;  and the Insignia  Merger.  The plaintiffs seek monetary damages and
equitable relief, including judicial dissolution of the Partnership. On June 25,
1998,  the Managing  General  Partner  filed a motion  seeking  dismissal of the
action.  In lieu of  responding  to the  motion,  the  plaintiffs  have filed an
amended  complaint.  The Managing General Partner filed demurrers to the amended
complaint which were heard February 1999.

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims,  subject to final court approval,  on behalf of the Partnership
and all limited  partners  who owned  units as of November 3, 1999.  Preliminary
approval of the settlement  was obtained on November 3, 1999 from the Court,  at
which time the Court set a final approval  hearing for December 10, 1999.  Prior
to the December 10, 1999 hearing,  the Court received various  objections to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December 14, 1999, the Managing  General  Partner and its affiliates  terminated
the  proposed  settlement.  In  February  2000,  counsel  for some of the  named
plaintiffs filed a motion to disqualify plaintiff's lead and liaison counsel who
negotiated  the  settlement.  On June  27,  2000,  the  Court  entered  an order
disqualifying them from the case. The Court will entertain applications for lead
counsel which must be filed by August 4, 2000. The Court has scheduled a hearing
on August 21, 2000 to address the issue of appointing lead counsel. The Managing
General Partner does not anticipate that costs associated with this case will be
material to the Partnership's overall operations.

ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K

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


            b)    Reports on Form 8-K:

                  None filed during the quarter ended June 30, 2000.

                                   SIGNATURES

In accordance with the requirements of the Exchange Act, the Partnership  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/Martha L. Long
                                         Martha L. Long
                                         Senior Vice President and
                                         Controller

                                 Date:   August , 2000