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

                                 UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                   FORM 10-Q
(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, 1999

                                       or

[ ]  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 0-10831


                 CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES
             (Exact name of registrant as specified in its charter)


         California                                   94-2744492
(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)

                  Registrant's telephone number (864) 239-1000

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934
during the preceding 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)
                 CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES
                          CONSOLIDATED BALANCE SHEETS
                                  (Unaudited)
                        (in thousands, except unit data)


                                                   June 30,    December 31,

                                                     1999          1998

                                                 (Unaudited)      (Note)

Assets

  Cash and cash equivalents                       $  7,515      $  8,683

  Receivables and deposits                           1,009           985

  Restricted escrows                                 2,046         1,912

  Other assets                                       1,766         1,243


  Investment in Master Loan                         88,454        88,578

     Less:  allowance for impairment loss          (17,417)      (17,417)

                                                    71,037        71,161

  Investment properties:

     Land                                            3,564         3,564

     Building and related personal property         35,959        34,932

                                                    39,523        38,496

     Less:  accumulated depreciation                (8,561)       (7,298)

                                                    30,962        31,198


                                                  $114,335      $115,182
Liabilities and Partners' (Deficit) Capital

Liabilities

  Accounts payable                                $    245      $    431

  Tenant security deposits liabilities                 524           504

  Accrued property taxes                                33            62

  Other liabilities                                    566           691

  Mortgage note payable                             27,215        27,360

                                                    28,583        29,048
Partners' (Deficit) Capital

  General Partner                                      (81)          (96)

  Limited Partners (199,045.20 units issued and

  outstanding at June 30, 1999, and

  December 31, 1998)                                85,833        86,230

                                                    85,752        86,134

                                                  $114,335      $115,182


Note:The balance sheet at December 31, 1998, has been derived from the audited
     financial statements at that date, but does not include all the information
     and footnotes required by generally accepted accounting principles for
     complete financial statements.

          See Accompanying Notes to Consolidated Financial Statements
b)
                 CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES

                     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                   $ 2,463   $ 2,360  $ 4,919  $ 4,541

  Interest income on investment

     in Master Loan to affiliate      252     1,544    1,053    3,184

  Reduction of provision for

     impairment loss                   --    23,269       --   23,269

  Interest income                      69        81      141      170

  Other income                        177       169      309      297

       Total revenues               2,961    27,423    6,422   31,461

Expenses:

  Operating                         1,050     1,224    2,208    2,624

  Depreciation                        689       558    1,263    1,102

  General and administrative          181       176      297      307

  Property taxes                       81       150      224      337

  Interest                            491        80      962      160

       Total expenses               2,492     2,188    4,954    4,530

Net income                        $   469   $25,235  $ 1,468  $26,931

Net income allocated

    to general partner (1%)       $     5   $   252  $    15  $   269

Net income allocated

    to limited partners (99%)         464    24,983    1,453   26,662


                                  $   469   $25,235  $ 1,468  $26,931
Net income per Limited

    Partnership Unit              $  2.33   $125.51  $  7.30  $133.94


Distributions per Limited

    Partnership Unit              $    --   $    --  $  9.29  $  8.94

          See Accompanying Notes to Consolidated Financial Statements
c)
                 CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES

       CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' (DEFICIT) CAPITAL
                                  (Unaudited)
                        (in thousands, except unit data)




                                    Limited

                                  Partnership  General    Limited

                                     Units     Partner   Partners     Total


Original capital contributions       200,342   $     1   $200,342   $200,343

Partners' (deficit) capital at

  December 31, 1997                  199,052   $  (364)  $ 86,520   $ 86,156


Distributions                             --       (18)    (1,780)    (1,798)


Net income for the six months

  ended June 30, 1998                     --       269     26,662     26,931


Partners' (deficit) capital at

  June 30, 1998                      199,052   $  (113)  $111,402   $111,289


Partners' (deficit) capital at

  December 31, 1998                199,045.2   $   (96)  $ 86,230   $ 86,134


Distributions                             --        --     (1,850)    (1,850)


Net income for the six months

  ended June 30, 1999                     --        15      1,453      1,468


Partners' (deficit) capital at

  June 30, 1999                    199,045.2   $   (81)  $ 85,833   $ 85,752


          See Accompanying Notes to Consolidated Financial Statements
d)
                 CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES

                     CONSOLIDATED STATEMENTS OF CASH FLOWS
                                  (Unaudited)
                                 (in thousands)



                                                           Six Months Ended

                                                               June 30,

                                                           1999         1998

Cash flows from operating activities:

  Net income                                            $  1,468     $ 26,931

  Adjustments to reconcile net income to net cash

    provided by operating activities:

    Depreciation and amortization                          1,327        1,130

    Casualty loss                                             --           14

    Reduction of provision for impairment loss                --      (23,269)

    Change in accounts:

      Receivables and deposits                               (24)         295

      Other assets                                          (505)        (388)

      Interest receivable on Master Loan                      --         (940)

      Accounts payable                                      (186)         (63)

      Tenant security deposit liabilities                     20           76

      Accrued property taxes                                 (29)          33

      Other liabilities                                     (125)         (61)

          Net cash provided by

            operating activities                           1,946        3,758

Cash flows from investing activities:

  Net deposits to restricted escrows                        (134)         (61)

  Property improvements and replacements                  (1,027)      (1,863)

  Lease commissions paid                                     (74)        (260)

  Principal receipts on Master Loan                          124        2,481

          Net cash (used in) provided by

            investing activities                          (1,111)         297

Cash flows from financing activities:

  Distributions to partners                               (1,850)      (1,798)

  Payments on notes payable                                 (145)         (26)

  Loan costs paid                                             (8)          --

          Net cash used in financing activities           (2,003)      (1,824)

Net (decrease) increase in cash and cash equivalents      (1,168)       2,231

Cash and cash equivalents at beginning of period           8,683        8,691

Cash and cash equivalents at end of period              $  7,515     $ 10,922

Supplemental disclosure of cash flow information:

  Cash paid for interest                                $    933     $    154


          See Accompanying Notes to Consolidated Financial Statements


e)
                 CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                  (Unaudited)



NOTE A - BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements of Consolidated
Capital Institutional Properties (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-Q and Article 10 of
Regulation S-X. Accordingly, they do not include all of the information and
footnotes required by generally accepted accounting principles for complete
financial statements.  In the opinion of ConCap Equities, Inc. (the "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 Annual Report on Form 10-K for the year
ended December 31, 1998, for the Partnership.

Principles of Consolidation:  The Partnership's financial statements include the
accounts of Kennedy Boulevard Associates, I, L.P., a Pennsylvania Limited
Partnership ("KBA-I, L.P."), Kennedy Boulevard Associates II, L.P. a
Pennsylvania Limited Partnership ("KBA-II, L.P."), Kennedy Boulevard Associates
III, L.P. a Pennsylvania Limited Partnership ("KBA-III, L.P."), Kennedy
Boulevard Associates IV, L.P. a Pennsylvania Limited Partnership ("KBA-IV,
L.P.") and Kennedy Boulevard GP I, a Pennsylvania Partnership.  The general
partners of each of the affiliated limited and general partnerships are Limited
Liability Companies of which the Partnership is the sole member.  The Limited
Partners of each of the affiliated limited and general partnerships are either
the Partnership or a Limited Liability Company of which the Partnership is the
sole member.  Therefore, the Partnership owns 100% of and controls the
affiliated limited and general partnerships.  KBA-I, L.P. holds title to The
Sterling Apartment Home and Commerce Center ("Sterling").

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 Apartment Investment and Management Company ("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 General Partner.  The General Partner does not believe that this transaction
will have a material effect on the affairs and operations of the Partnership.

NOTE C - RELATED PARTY TRANSACTIONS

The Partnership has no employees and is dependent on the General Partner and its
affiliates for the management and administration of all Partnership activities.
The Partnership Agreement provides for (i) certain payments to affiliates for
services and (ii) reimbursement of certain expenses incurred by affiliates on
behalf of the Partnership.  The following payments were made to the General
Partner and affiliates during the six months ended June 30, 1999 and 1998:

                                                              1999       1998

                                                               (in thousands)


  Property management fees (included in operating expenses)  $266      $239

  Reimbursement for services of affiliates  (included in

    operating, general and administrative expenses, other

    assets and investment properties)                         126       172


During the six months ended June 30, 1999 and 1998, affiliates of the 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 $266,000 and $239,000 for the
six months ended June 30, 1999 and 1998, respectively.

An affiliate of the General Partner received reimbursement of accountable
administrative expenses amounting to approximately $126,000 and $172,000 for the
six months ended June 30, 1999 and 1998, respectively.  Included in these
expenses is approximately $19,000 and $32,000 in reimbursements for construction
oversight costs for the six months ended June 30, 1999 and 1998, respectively,
and approximately $4,000 of lease commissions for the six months June 30, 1998.

On June 9, 1999, AIMCO Properties, L.P., an affiliate of the General Partner
commenced a tender offer to purchase up to 48,977.06 (24.61% of the total
outstanding units) units of limited partnership in the Partnership for a
purchase price of $424 per unit. The offer expired on July 14, 1999.  Pursuant
to the offer, AIMCO Properties, L.P. acquired 3,736.20 units.  As a result,
AIMCO and its affiliates currently own 95,857.60 units of limited partnership
interest in the Partnership representing 48.16% 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 - NET INVESTMENT IN MASTER LOAN

The Partnership was formed for the benefit of its limited partners to lend funds
to Consolidated Capital Equity Partners ("CCEP"), a California general
partnership.  The Partnership loaned funds to CCEP subject to a nonrecourse note
with a participation interest (the "Master Loan").  At June 30, 1999, the
recorded investment in the Master Loan was considered to be impaired under
Statement of Financial Accounting Standard No. 114 ("SFAS 114"), Accounting by
Creditors for Impairment of a Loan.  The Partnership measures the impairment of
the loan based upon the fair value of the collateral due to the fact that
repayment of the loan is expected to be provided solely by the collateral. For
the six months ended June 30, 1999 and 1998, the Partnership recorded
approximately $1,053,000 and $3,184,000, respectively, of interest income based
upon cash generated as a result of improved operations at the properties which
secure the loan.

The fair value of the collateral properties was determined using the net
operating income of the collateral properties capitalized at a rate deemed
reasonable for the type of property adjusted for market conditions, the physical
condition of the property and other factors, or by obtaining an appraisal by an
independent third party.  This methodology has not changed from that used in
prior calculations performed by the General Partner in determining the fair
value of the collateral properties.  During the six months ended June 30, 1998,
a reduction in the provision for impairment loss was recognized for
approximately $23,269,000 due to an increase in the net realizable value of the
collateral properties.  There was no change in the provision for impairment loss
for the six months ended June 30, 1999.  The General Partner evaluates the net
realizable value on a semi-annual basis.  The General Partner has seen a
consistent increase in the net realizable value of the collateral properties,
taken as a whole, over the past two years.  The increase is deemed to be
attributable to major capital improvement projects and the concerted effort to
complete deferred maintenance items that have been ongoing over the past few
years at the various properties.  This has enabled the properties to increase
their respective occupancy levels or in some cases to maintain the properties'
high occupancy levels.  The vast majority of this work was funded by cash flow
from the collateral properties themselves as no amounts have been borrowed on
the master loan or from other sources in the past few years in order to fund
such improvements.  The General Partner attributes the increase in the net
realizable value of the collateral properties securing the Master Loan to the
increase in occupancy and/or average rental rates of such properties.  The
increase in occupancy at the properties is attributable to approximately
$8,403,000 of combined capital improvements made at most of the properties for
the three years ended December 31, 1998.  These improvements were funded
primarily from property operations and cash flows as the only advances from the
Partnership to CCEP total approximately $367,000 for 1998, 1997 and 1996.

Based upon the consistent increase in net realizable value of the collateral
properties, the General Partner determined the increase to be permanent in
nature and accordingly, reduced the allowance for impairment loss on the master
loan during the six months ended June 30, 1998.

Interest, calculated on the accrual basis, due to the Partnership pursuant to
the terms of the Master Loan Agreement, but not recognized in the income
statements due to the impairment of the loan, totaled approximately $19,108,000
and $18,325,000 for the six months ended June 30, 1999 and 1998, respectively.
Interest income is recognized on the cash basis as allowed under SFAS 114.  At
June 30, 1999, and December 31, 1998, such cumulative unrecognized interest
totaling approximately $249,104,000 and $229,995,000 was not included in the
balance of the investment in Master Loan.  In addition, six of the properties
are collateralized by first mortgages totaling approximately $22,709,000 which
are superior to the Master Loan. Accordingly, this fact has been taken into
consideration in determining the fair value of the Master Loan.

During the six months ended June 30, 1999, the Partnership made no advances to
CCEP as an advance on the Master Loan.

During the six months ended June 30, 1999, the Partnership received
approximately $124,000 as principal payments on the Master Loan.  Such payments
represent cash received on certain investments by CCEP, which are required to be
transferred to the Partnership per the Master Loan Agreement.  Approximately
$1,053,000 of interest payments were also made during the six months ended June
30, 1999.

NOTE E - COMMITMENT

The Partnership is required by the Partnership Agreement to maintain working
capital reserves for contingencies of not less than 5% of Net Invested Capital,
as defined in the Partnership Agreement.  In the event expenditures are made
from this reserve, operating revenue shall be allocated to such reserves to the
extent necessary to maintain the foregoing level.  Reserves, including cash and
cash equivalents and tenant security deposits totaling approximately $8,039,000,
were greater than the reserve requirement of approximately $5,998,000 at June
30, 1999.

NOTE F - SUBSEQUENT EVENT

In July 1998, the Partnership sold approximately 55,000 square feet of land
(5.33% of the total land) at The Loft Apartments.  The land was situated to the
side of the property.  This resulted in a net gain of approximately $19,000 on
the sale.

NOTE G - SEGMENT REPORTING

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

The Partnership has two reportable segments: residential properties and
commercial properties.  The Partnership's property segments consist of one
apartment complex in North Carolina and one multiple use facility consisting of
apartment units and commercial space in Pennsylvania.  The Partnership rents
apartment units to tenants for terms that are typically less than twelve months.
The commercial property leases space to various medical offices, various career
services facilities, and a credit union at terms ranging from two months to
fifteen years.

Measurement of segment profit or loss:

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

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

The Partnership's reportable segments are investment properties that offer
different products and services.  The reportable segments are each managed
separately because they provide distinct services with different 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 reportable
segments.

               1999                RESIDENTIAL COMMERCIAL    OTHER    TOTALS

Rental income                        $ 4,240     $   679    $    --   $ 4,919
Interest income                           15           2        124       141
Other income                             240          69         --       309
Interest income on investment in
 Master Loan                              --          --      1,053     1,053
Interest expense                         844         118         --       962
Depreciation                           1,228          35         --     1,263
General and administrative expense        --          --        297       297
Segment profit                           413         175        880     1,468
Total assets                          34,663       1,638     78,034   114,335
Capital expenditures for
  investment properties                1,012          15         --     1,027



               1998                RESIDENTIAL COMMERCIAL    OTHER    TOTALS

Rental income                         $3,830     $   711    $    --   $ 4,541
Interest income                           12           2        156       170
Other income                             220          77         --       297
Interest income on investment
 in Master Loan                           --          --      3,184     3,184
Reduction of provision for
 impairment loss                          --          --     23,269    23,269
Interest expense                         160          --         --       160
Depreciation                           1,080          22         --     1,102
General and administrative expense        --          --        307       307
Segment profit                           379         250     26,302    26,931
Total assets                          32,380       1,139     83,201   116,720
Capital expenditures for
  investment properties                1,620          243        --     1,863

NOTE H - 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 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 the time, affiliates of Insignia
("Insignia Affiliates") of interests in certain general partner entities, past
tender offers by Insignia Affiliates to acquire limited partnership units, the
management of partnerships by Insignia Affiliates as well as a recently
announced agreement between Insignia and AIMCO.  The complaint seeks monetary
damages and equitable relief, including judicial dissolution of the Partnership.
On June 25, 1998, the General Partner filed a motion seeking dismissal of the
action.  In lieu of responding to the motion, the plaintiffs filed an amended
complaint.  The General Partner has filed demurrers to the amended complaint
which were heard during February 1999.  No ruling on such demurrers has been
received.  The 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 OF FINANCIAL CONDITION

The matters discussed in this Form 10-Q 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-Q 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 properties, The Loft and
The Sterling Apartment Homes and Commerce Center  ("The Sterling").  The
Sterling is a multiple-use facility which consists of an apartment complex and
commercial space.  The following table sets forth the average occupancies of the
properties for the six months ended June 30, 1999 and 1998:

                                                   Average
                                                  Occupancy
                                              1999         1998
Property
The Loft Apartments                           96%          92%
   Raleigh, North Carolina

The Sterling Apartment Homes                  93%          92%

The Sterling Commerce Center                  88%          79%
   Philadelphia, Pennsylvania


The General Partner attributes the increase in occupancy at The Loft Apartments
to increased marketing and capital improvements to increase the curb appeal of
the property.  Also, the property changed the timing of lease expirations.  They
now expire during the spring and summer months when there is more rental traffic
at the property rather than during the winter months when traffic is
historically slower.  The increase in occupancy at the Sterling Commerce Center
is attributable to recent major capital improvements including exterior
renovations, elevator rehabilitation and common area renovations.

Results of Operations

The Partnership's net income for the six months ended June 30, 1999 was
approximately $1,468,000 compared to a net income of approximately $26,931,000
for the corresponding period in 1998.  The Partnership recorded net income of
approximately $469,000 for the three months ended June 30, 1999 compared to net
income of $25,235,000 for the corresponding period in 1998.  The decrease in net
income for the three and six month periods ended June 30, 1999 compared with the
corresponding periods in 1998 was primarily due to the $23,269,000 reduction of
provision for impairment loss recognized in 1998.  Excluding the reduction of
provision for impairment loss, the Partnership's net income for the three and
six months ended June 30, 1998 was approximately $1,966,000 and $3,662,000,
respectively.  The decrease in total revenues, exclusive of the reduction of
provision for impairment loss, is due to a decline in interest income related to
the Master Loan, which was partially offset by an increase in rental income. The
decrease in interest income related to the Master Loan is a factor of the method
used to recognize income.  Income is only recognized to the extent that actual
cash is received.  The receipt of cash is dependent on the corresponding cash
flow of the properties, which secure the Master Loan.  Cash flow for these
properties was lower for the six months ended June 30, 1999 as a result of
capital expenditures at the properties.  The increase in rental income was due
to an increase in occupancy at all three of the Registrant's investment
properties and an increase in the average rental rates at The Loft and The
Sterling Apartment Homes.

The increase in total expenses is primarily attributable to increases in
interest and depreciation expenses, partially offset by decreases in operating
and property tax expenses.  Interest expense increased due to the financing of
The Sterling in September 1998.  Depreciation expense increased due to major
capital improvements and replacements at The Sterling during 1998 and the first
half of 1999. The decrease in operating expenses was mainly due to the
completion of interior building improvements at The Sterling during the six
months ended June 30, 1998.  Also contributing to the decrease in operating
expense is a decrease in insurance expense due to a change in insurance carriers
and a decrease in legal fees which were incurred in the six months ended June
30, 1998 to defend the Partnership's objection of an increase in assessment
values at The Sterling.  In addition, there was a fire at The Loft Apartments
during the six months ended June 30, 1998 which was contained in one unit of the
property. The upstairs was completely destroyed and the downstairs endured water
damage.  A loss of approximately $14,000 related to this casualty was included
in operating expense for the six months ended June 30, 1998.  Property tax
expense decreased due to a payment of prior year taxes being included in the
expense through June 30, 1998.  This was a result of the assessed value of The
Sterling increasing as a result of the significant amount of improvements
completed at the property during 1997 and 1998.  This assessment increase
affected the 1997 tax year which had already passed and therefore the payment
was reflected in the six month expense of June 30, 1998.

Included in general and administrative expenses for the three and six months
ended June 30, 1999 and 1998 are management reimbursements to the 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 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 expense.  As part of this plan,
the 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 General Partner will
be able to sustain such a plan.

Liquidity and Capital Resources

At June 30, 1999, the Partnership had cash and cash equivalents of approximately
$7,515,000 as compared to approximately $10,922,000 at June 30, 1998.  Cash and
cash equivalents decreased approximately $1,168,000 for the six months ended
June 30, 1999 from the Partnership's fiscal year end.  This decrease was
primarily due to approximately $2,003,000 of net cash used in financing
activities and approximately $1,111,000 of net cash used in investing
activities, which was partially offset by approximately $1,946,000 of net cash
provided by operating activities. Cash used in financing activities consisted
primarily of distributions to partners and, to a lesser extent, payments of
principal made on the mortgages encumbering the Registrant's properties and the
payment of loan costs.  Cash used in investing activities consisted of property
improvements and replacements, net deposits to escrow accounts maintained by the
mortgage lender and lease commissions paid, which is partially offset by
principal repayments received on the Master Loan.  The Registrant invests its
working capital reserves in a money market account.

The Partnership is required by the Partnership Agreement to maintain working
capital reserves for contingencies of not less than 5% of Net Invested Capital,
as defined by the Partnership Agreement.  Reserves, including cash and cash
equivalents and tenant security deposits totaling approximately $8,039,000, were
greater than the reserve requirement of approximately $5,998,000 at June 30,
1999.

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 Registrant's properties are detailed below.

The Loft:

During the six months ended June 30, 1999, the Partnership completed
approximately $47,000 of capital improvements at The Loft, consisting primarily
of flooring replacement, roof and air conditioning repairs, and drapery and
blinds.  These improvements were funded from cash flow and replacement reserves.
Based on a report received from an independent third party consultant analyzing
necessary exterior improvements and estimates made by the General Partner on
interior improvements, it is estimated that the property requires approximately
$152,000 of capital improvements over the next few years.  Capital improvements
budgeted for, but not limited to, approximately $132,000 are planned for 1999
which include certain of the required improvements and consist of HVAC
condensing units, carpet and vinyl improvements, landscaping, and roof repairs.

The Sterling:

During the six months ended June 30, 1999, the Partnership expended
approximately $980,000 on capital improvements at The Sterling, consisting
primarily of plumbing and electrical upgrades, new appliances, cabinet and
furniture replacements, interior decorating and other building improvements.
These improvements were funded primarily from cash flow.  Based on a report
received from an independent third party consultant analyzing necessary exterior
improvements and estimates made by the General Partner on interior improvements,
it is estimated that the property requires approximately $4,407,000 of capital
improvements over the next few years.  Capital improvements budgeted for, but
not limited to, approximately $3,013,000 are planned for 1999, which include
certain of the required improvements and consist of electrical repairs, plumbing
fixtures, cabinets, and HVAC condensing units.

The additional capital improvements planned for 1999 at the Partnership's
properties will be made only to the extent of cash available from operations and
Partnership reserves.  To the extent that such budgeted capital improvements are
completed, the Registrant's distributable cash flow, if any, may be adversely
affected at least in the short term.

The Registrant's current assets are thought to be sufficient for any near-term
needs (exclusive of capital improvements) of the Registrant.  The mortgage
indebtedness of approximately $27,215,000 requires monthly payments of principal
and interest and balloon payments of approximately $3,903,000 and $19,975,000 on
December 1, 2005 and October 1, 2008, respectively. The 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 may risk losing such properties through foreclosure.

Cash distributions from surplus cash of approximately $1,850,000 were paid to
limited partners ($9.29 per limited partnership unit) during the six months
ended June 30, 1999 and approximately $1,798,000 from operations, of which
$1,780,000 was paid to limited partners ($8.94 per limited partnership unit),
during the six months ended June 30, 1998.  Included in the 1998 amounts were
payments to the North Carolina Department of Revenue for withholding taxes
related to income generated by the Partnership's investment property located in
that state.  Subsequent to the quarter ended June 30, 1999, the General Partner
approved a distribution of approximately $400,000 to be paid to limited partners
from surplus funds ($2.01 per limited partnership unit). The Registrant's
distribution policy will be reviewed on a quarterly basis.  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. There can be no assurance, however, that
the Partnership will generate sufficient funds from operations, after required
capital expenditures, to permit further distributions to its partners in 1999 or
subsequent periods.

CCEP Property Operations

For the six months ended June 30, 1999, CCEP's net loss totaled approximately
$18,569,000 on total revenues of approximately $10,601,000.  CCEP recognizes
interest expense on the New Master Loan Agreement obligation according to the
note terms, although payments to the Partnership are required only to the extent
of Excess Cash Flow, as defined therein.  During the six months ended June 30,
1999, CCEP's statement of operations includes total interest expense
attributable to the Master Loan of approximately $20,161,000, all but $1,053,000
of which represents interest accrued in excess of required payments.  CCEP is
expected to continue to generate operating losses as a result of such interest
accruals and noncash charges for depreciation.

During the six months ended June 30, 1999, the Partnership received
approximately $124,000 as principal payments on the Master Loan.  This amount
was received on certain investments by CCEP, which are required to be
transferred to the Partnership per the Master Loan Agreement.

CCEP's commercial property, 444 Deharo, is under contract for sale.  The sale,
which is subject to the purchaser's due diligence and other customary
conditions, is expected to close during the third quarter of 1999.  However,
there can be no assurance that the sale will be consummated.

Tender Offer

On June 9, 1999, AIMCO Properties, L.P., an affiliate of the General Partner
commenced a tender offer to purchase up to 48,977.06 (24.61% of the total
outstanding units) units of limited partnership in the Partnership for a
purchase price of $424 per unit.  The offer expired on July 14, 1999.  Pursuant
to the offer, AIMCO Properties, L.P. acquired 3,736.20 units.  As a result,
AIMCO and its affiliates currently own 95,857.60 units of limited partnership
interest in the Partnership representing 48.16% 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 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.

ITEM 3.   QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The Partnership is exposed to market risks associated with its Master Loan to
Affiliate ("Loan").  Receipts (interest income) on the Loan are based upon the
operations and cash flow of the underlying investment properties that
collateralize the Loan.  Both the income and expenses of operating the
investment properties are subject to factors outside of the Partnership's
control, such as an oversupply of similar properties resulting from
overbuilding, increases in unemployment or population shifts, reduced
availability of permanent mortgage financing, changes in zoning laws, or changes
in the patterns or needs of users.  The investment properties are also
susceptible to the impact of economic and other conditions outside of the
control of the Partnership as well as being affected by current trends in the
market area which they operate.  In this regard, the General Partner of the
Partnership closely monitors the performance of the properties collateralizing
the loans.  Based upon the fact that the loan is considered impaired under
Statement of Financial Accounting Standard No. 114, Accounting by Creditors for
Impairment of a Loan, interest rate fluctuations do not offset the recognition
of income, as income is only recognized to the extent of cash flow. Therefore,
market risk factors do not offset the Partnership's results of operations as it
relates to the Loan.

The Partnership is exposed to market risks from adverse changes in interest
rates. In this regard, changes in U.S. interest rates affect the interest earned
on the Partnership's cash and cash equivalents as well as interest paid on its
indebtedness. As a policy, the Partnership does not engage in speculative or
leveraged transactions, nor does it hold or issue financial instruments for its
borrowing activities used to maintain liquidity and fund business operations.
To mitigate the impact of fluctuations in U.S. interest rates, the Partnership
maintains its debt as fixed rate in nature by borrowing on a long-term basis.
Based on interest rates at June 30, 1999, a 1% increase or decrease in market
interest rates would not have a material impact on the Partnership.

The following table summarizes the Partnership's debt obligations at December
31, 1998. The interest rates represent the weighted-average rates.  The fair
value of the debt obligations approximate the recorded value as of December 31,
1998.

                     Principal Amount by Expected Maturity

                   Fixed Rate Debt
    Long-term     Average Interest
      Debt           Rate 6.86%
                   (in thousands)
      1999          $    282
      2000               297
      2001               323
      2002               346
      2003               371
   Thereafter         25,741
      Total         $ 27,360

                          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 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 the time, affiliates of Insignia
("Insignia Affiliates") of interests in certain general partner entities, past
tender offers by Insignia Affiliates to acquire limited partnership units, the
management of partnerships by Insignia Affiliates as well as a recently
announced agreement between Insignia and AIMCO.  The complaint seeks monetary
damages and equitable relief, including judicial dissolution of the Partnership.
On June 25, 1998, the General Partner filed a motion seeking dismissal of the
action.  In lieu of responding to the motion, the plaintiffs filed an amended
complaint.  The General Partner has filed demurrers to the amended complaint
which were heard during February 1999.  No ruling on such demurrers has been
received.  The 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)  Exhibits:

               S-K Reference
                  Number                  Description

                  27               Financial Data Schedule is filed as an
                                   exhibit to this report.

                  99.1             Consolidated Capital Equity Partners, L.P.,
                                   unaudited financial statements for the six
                                   months ended June 30, 1999 and 1998.

          (b)  Reports on Form 8-K:

               None filed during the quarter ended June 30, 1999.

                                   SIGNATURES


Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.


                              CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES

                             By:    CONCAP EQUITIES, INC.
                                     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 12, 1999