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 September 30, 2000


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


                For the transition period from _________to _________

                         Commission file number 0-10435

                            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)

                               September 30, 2000
<TABLE>
<CAPTION>

Assets

<S>                                                            <C>             <C>
   Cash and cash equivalents                                                 $  327
   Receivables and deposits                                                     302
   Restricted escrows                                                            16
   Other assets                                                                 215
   Investment properties:
      Land                                                   $ 1,409
      Buildings and related personal property                  15,149
                                                               16,558
      Less accumulated depreciation                            (8,807)        7,751
                                                                            $ 8,611

Liabilities and Partners' (Deficit) Capital
Liabilities

   Accounts payable                                                          $ 97
   Accrued property taxes                                                       204
   Tenant security deposit liabilities                                           41
   Other liabilities                                                            125
   Due to affiliates                                                             38
   Mortgage notes payable                                                     7,200

Partners' (Deficit) Capital

   General partners                                          $ (3,842)
   Limited partners (130,000 units issued and
      outstanding)                                              4,748           906
                                                                            $ 8,611

            See Accompanying Notes to Consolidated Financial Statements
</TABLE>

b)

                           CENTURY PROPERTIES FUND XVI

                      CONSOLIDATED STATEMENTS OF OPERATIONS

                                   (Unaudited)

                          (in thousands, except unit data)

<TABLE>
<CAPTION>

                                      Three Months Ended         Nine Months Ended
                                        September 30,              September 30,
                                      2000          1999         2000         1999
Revenues:
<S>                                <C>           <C>          <C>          <C>
   Rental income                   $   743       $   748      $  2,229     $  2,220
   Other income                         52            28           131           82
      Total revenues                   795           776         2,360        2,302
Expenses:
   Operating                           326           287           937          845
   General and administrative           87            54           184          174
   Depreciation                        161           129           465          384
   Interest                            150           152           451          457
   Property tax                          75           64           193          193
      Total expenses                   799           686         2,230        2,053

      Net (loss) income            $    (4)      $    90      $    130     $    249

Net income allocated to
  general partners (6.9%)          $    --       $     6      $      9     $     17

Net (loss) income allocated to
   limited partners (93.1%)              (4)          84           121          232

                                   $    (4)      $    90      $    130     $    249

Net (loss) income per limited
  partnership unit                  $  (.03)     $   .64      $    .93     $   1.78
Distributions per limited

  partnership unit                  $    --      $    --      $   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 nine months
   ended September 30, 2000               --            9         121          130

Partners' (deficit) capital

   at September 30, 2000             130,000     $ (3,842)    $ 4,748      $   906

            See Accompanying Notes to Consolidated Financial Statements
</TABLE>


d)
                           CENTURY PROPERTIES FUND XVI

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                                   (Unaudited)

                                   (in thousands)
<TABLE>
<CAPTION>

                                                                 Nine Months Ended
                                                                   September 30,

                                                                  2000        1999
Cash flows from operating activities:

<S>                                                             <C>         <C>
  Net income                                                    $    130    $    249
  Adjustments to reconcile net income to net
   cash provided by operating activities:
   Depreciation                                                      465         384
   Amortization of loan costs                                         24          24
   Change in accounts:
      Receivables and deposits                                        22          21
      Other assets                                                    (8)        (10)
      Accounts payable                                               (17)        (23)
      Accrued property taxes                                          24         (55)
      Tenant security deposit liabilities                             (1)         (1)
      Other liabilities                                              (67)         27
      Due to affiliates                                               38          --

       Net cash provided by operating activities                     610         616

Cash flows from investing activities:

  Property improvements and replacements                            (504)       (253)
  Net withdrawals from restricted escrows                             94          29

       Net cash used in investing activities                        (410)       (224)

Cash flows from financing activities:

  Distributions to partners                                         (276)         --
  Payments on mortgage notes payable                                 (65)        (61)

       Net cash used in financing activities                        (341)        (61)

Net (decrease) increase in cash and cash equivalents                (141)        331

Cash and cash equivalents at beginning of period                     468         366

Cash and cash equivalents at end of period                      $    327    $    697

Supplemental disclosure of cash flow information:

  Cash paid for interest                                        $    428    $    433

            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 nine month periods ended September 30, 2000
are not  necessarily  indicative  of the results  that may be  expected  for the
fiscal year ending  December 31,  2000.  For further  information,  refer to the
consolidated   financial  statements  and  footnotes  thereto  included  in  the
Partnership's  Annual  Report on Form 10-KSB for the 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 or accrued during the nine
months ended September 30, 2000 and 1999:

                                                                  2000      1999
                                                                  (in thousands)

 Property management fees (included in operating expenses)        $117      $114

 Reimbursement for services of affiliates (included in
   investment properties, general and administrative
  and operating expenses)                                          125        76
 Due to affiliates                                                  38        --

During the nine months  ended  September  30, 2000 and 1999,  affiliates  of the
Managing General Partner were entitled to receive 5% of gross receipts from both
of the Registrant's  properties for providing property management services.  The
Registrant paid to such affiliates  approximately  $117,000 and $114,000 for the
nine months ended September 30, 2000 and 1999, respectively.

An  affiliate  of  the  Managing  General  Partner  received   reimbursement  of
accountable  administrative  expenses  amounting to  approximately  $125,000 and
$76,000 for the nine months ended September 30, 2000 and 1999, respectively.  Of
this  amount  approximately  $38,000  was  accrued  and is  included  in "Due to
affiliates" at September 30, 2000.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,   AIMCO  and  its  affiliates   currently  own  73,140.69   limited
partnership units in the Partnership  representing  approximately  56.27% 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,  which
would  include  without   limitation,   voting  on  certain  amendments  to  the
Partnership  Agreement and voting to remove the Managing General  Partner.  As a
result of its ownership of approximately  56.27% 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,  owned by an affiliate of the Managing General
Partner,  such  affiliate   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 AIMCO and its affiliates' ability
to influence voting decisions with respect to the Partnership.

Note D - Distributions

Cash  distributions  from operations of approximately  $276,000 were paid during
the nine months ended  September 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 nine  months  ended  September  30,  1999.
Subsequent  to September  30,  2000,  the  Partnership  declared and paid a cash
distribution from operations of approximately  $83,000,  of which  approximately
$77,000 was paid to limited partners ($0.59 per limited partnership unit).

Note E - Segment Reporting

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

The Partnership has one reportable segment:  residential properties,  consisting
of two apartment  complexes,  one of which is located in 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 nine month periods  ended  September 30,
2000 and 1999 is shown in the tables below (in  thousands).  The "Other"  column
includes  Partnership  administration  related  items and income and expense not
allocated to the reportable segment.

 Three Months Ended September 30, 2000   Residential     Other      Totals

Rental income                                $ 743        $ --        $ 743
Other income                                    52          --           52
Interest expense                               150          --          150
Depreciation                                   161          --          161
General and administrative expense              --          87           87
Segment profit (loss)                           83         (87)          (4)

  Nine months Ended September 30, 2000   Residential     Other      Totals

Rental income                              $ 2,229       $ --      $ 2,229
Other income                                   130           1         131
Interest expense                               451          --         451
Depreciation                                   465          --         465
General and administrative expense              --         184         184
Segment profit (loss)                          313        (183)        130
Total assets                                 8,487         124       8,611
Capital expenditures for investment
  properties                                   504          --         504

 Three Months Ended September 30, 1999    Residential     Other     Totals

Rental income                                 $ 748        $  --      $ 748
Other income                                     26            2         28
Interest expense                                152           --        152
Depreciation                                    129           --        129
General and administrative expense               --           54         54
Segment profit (loss)                           142          (52)        90

  Nine Months Ended September 30, 1999    Residential     Other     Totals

Rental income                               $ 2,220       $   --    $ 2,220
Other income                                     74            8         82
Interest expense                                457           --        457
Depreciation                                    384           --        384
General and administrative expense               --          174        174
Segment profit (loss)                           415         (166)       249
Total assets                                  8,690          275      8,965
Capital expenditures for investment
  properties                                    253           --        253

Note F - Legal Proceedings

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

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims,  subject to final court approval,  on behalf of the Partnership
and all limited  partners  who owned  units as of November 3, 1999.  Preliminary
approval of the settlement  was obtained on November 3, 1999 from the Court,  at
which time the Court set a final approval  hearing for December 10, 1999.  Prior
to the December 10, 1999 hearing,  the Court received various  objections to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December 14, 1999, the Managing  General  Partner and its affiliates  terminated
the  proposed  settlement.  In  February  2000,  counsel  for some of the  named
plaintiffs filed a motion to disqualify plaintiff's lead and liaison counsel who
negotiated  the  settlement.  On June  27,  2000,  the  Court  entered  an order
disqualifying them from the case. The Court is considering applications for lead
counsel and has  currently  scheduled a hearing on the matter for  November  20,
2000. The Managing  General  Partner does not anticipate  that costs  associated
with this case will be material to the Partnership's overall operations.

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

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

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

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

                                                   Average Occupancy

      Property                                      2000       1999

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

      Woods of Inverness Apartments                 93%        98%
        Houston, Texas

The Managing  General  Partner  attributes the decrease in occupancy at Woods of
Inverness Apartments to increased competition in the Houston market.

Results of Operations

The  Registrant's  net income for the nine months ended  September  30, 2000 was
approximately $130,000 as compared to approximately $249,000 for the nine months
ended September 30, 1999. The  Registrant's  net loss for the three months ended
September  30,  2000 was  approximately  $4,000  as  compared  to net  income of
approximately  $90,000  for the three  months  ended  September  30,  1999.  The
decrease in net income for the three and nine months ended September 30, 2000 as
compared to the corresponding  periods in 1999 is attributable to an increase in
total expenses offset by a slight  increase in total  revenues.  The increase in
total  expenses  is  primarily   attributable   to  an  increase  in  operating,
depreciation  and  general  and  administrative  expenses.   Operating  expenses
increased  due  to  an  increase  in  advertising  expense  at  both  investment
properties  and  increased  sewer  expense and  salaries  at Woods of  Inverness
Apartments.  The increased depreciation expense is primarily due to the increase
in  depreciable  assets  put into  service  in the last  twelve  months  at both
investment properties.

The  increase  in general and  administrative  expense  was  attributable  to an
increase in the cost of services  included in management  reimbursements  to the
Managing  General Partner as allowed under the Partnership  Agreement  partially
offset  by  decreased  legal  costs  as a  result  of the  settlement  of  legal
proceedings in the first quarter of 1999. 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 nine months ended September 30,
2000,  as compared to the same periods in 1999.  The increase in total  revenues
was the result of an increase in other income at both  properties.  Other income
increased at Ralston  Place as a result of the receipt of incentive  income from
the water company for installing  water saving devices and at Woods of Inverness
Apartments  due to  increases  in tenant  reimbursements  and late  charges.  In
addition,  rental income  increased for the nine months ended September 30, 2000
as  compared  to the same  period in 1999.  Rental  income  increased  due to an
increase in average  rental rates at both  properties  offset by the decrease in
occupancy at Woods of Inverness Apartments as noted above.

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  September  30,  2000,  the  Registrant  had  cash and  cash  equivalents  of
approximately  $327,000 as compared to  approximately  $697,000 at September 30,
1999. Cash and cash equivalents decreased  approximately $141,000 for the period
ended September 30, 2000 from the Registrant's  fiscal year end. The decrease in
cash and cash  equivalents  is due to  approximately  $410,000  of cash  used in
investing  activities  and  approximately  $341,000  of cash  used in  financing
activities,  partially  offset by  approximately  $610,000  of cash  provided by
operating  activities.  Cash used in investing  activities  consisted of capital
improvements  and  replacements  which was partially  offset by withdrawals from
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
September 30, 2000 the property has spent approximately $304,000 in budgeted and
nonbudgeted  capital  expenditures  consisting  primarily of  appliances,  floor
covering replacements, air conditioning replacements, major landscaping, parking
lot resurfacing,  and structural  improvements.  These  improvements were funded
from replacement reserves and cash flow 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.

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
September  30, 2000 the  property has spent  approximately  $200,000 in budgeted
capital  expenditures  consisting  primarily of plumbing  fixture  replacements,
appliances,  structural  improvements,  and floor covering  replacements.  These
improvements   were  funded  from  replacement   reserves  and  cash  flow  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  $7,200,000 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 nine months ended  September 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 nine  months  ended  September  30,  1999.
Subsequent  to September  30,  2000,  the  Partnership  declared and paid a cash
distribution from operations of approximately  $83,000,  of which  approximately
$77,000  was paid to limited  partners  ($0.59 per  limited  partnership  unit).
Future cash  distributions  will depend on the levels of net cash generated from
operations,   the  availability  of  cash  reserves,  and  the  timing  of  debt
maturities,  refinancings, and/or property sales. The 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. ("Insignia") and entities which were,
at one  time,  affiliates  of  Insignia;  past  tender  offers  by the  Insignia
affiliates to acquire limited  partnership units; the management of partnerships
by the  Insignia  affiliates;  and the  Insignia  Merger.  The  plaintiffs  seek
monetary damages and equitable  relief,  including  judicial  dissolution of the
Partnership.  On June 25, 1998,  the  Managing  General  Partner  filed a motion
seeking  dismissal  of the action.  In lieu of  responding  to the  motion,  the
plaintiffs have filed an amended  complaint.  The Managing General Partner filed
demurrers to the amended complaint which were heard February 1999.

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims,  subject to final court approval,  on behalf of the Partnership
and all limited  partners  who owned  units as of November 3, 1999.  Preliminary
approval of the settlement  was obtained on November 3, 1999 from the Court,  at
which time the Court set a final approval  hearing for December 10, 1999.  Prior
to the December 10, 1999 hearing,  the Court received various  objections to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December 14, 1999, the Managing  General  Partner and its affiliates  terminated
the  proposed  settlement.  In  February  2000,  counsel  for some of the  named
plaintiffs filed a motion to disqualify plaintiff's lead and liaison counsel who
negotiated  the  settlement.  On June  27,  2000,  the  Court  entered  an order
disqualifying them from the case. The Court is considering applications for lead
counsel and has  currently  scheduled a hearing on the matter for  November  20,
2000. The Managing  General  Partner does not anticipate  that costs  associated
with this case will be material to the Partnership's overall operations.

ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K

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


            b) Reports on Form 8-K:

               None filed during the quarter ended September 30, 2000.


<PAGE>



                                   SIGNATURES

In accordance with the requirements of the Exchange Act, the 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:   November 13, 2000