FORM 10-Q



                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


          QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES
                              EXCHANGE ACT OF 1934


(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, 2002
                               ------------------------------------

{   }  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
       SECURITIES EXCHANGE ACT OF 1934

For the transition period from                     to
                               -------------------    ---------------------


For Quarter Ended    September 30, 2002     Commission file number   000-16698
                  -----------------------                         -------------

                 Brown-Benchmark Properties Limited Partnership
                -------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)


            Delaware                                31-1209608
    ---------------------------               -----------------------
  (State or Other Jurisdiction of                 (I.R.S. Employer
  Incorporation or Organization)               Identification Number)



 225 East Redwood Street, Baltimore, Maryland               21202
 --------------------------------------------              --------
   (Address of Principal Executive Offices)               (Zip Code)


    Registrant's Telephone Number, Including Area Code:     (410) 727-4083
                                                            --------------

                                       N/A
                     -------------------------------------
              (Former Name, Former Address, and Former Fiscal Year,
                         if Changed Since Last Report.)

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
                     -----------                          -----------


<PAGE>

                 BROWN-BENCHMARK PROPERTIES LIMITED PARTNERSHIP



                                      INDEX

                                                                       Page No.

Part I.  Financial Information

  Item 1.   Financial Statements

            Balance Sheets                                                    1
            Statements of Operations                                          2
            Statements of Partners' Capital (Deficit)                         3
            Statements of Cash Flows                                          4
            Notes to Financial Statements                                   5-6


  Item 2.   Management's Discussion and Analysis of
                   Financial Condition and Results of Operations            7-8


  Item 3.   Quantitative and Qualitative Disclosures About Market Risk        9

  Item 4.   Controls and Procedures                                           9

Part II. Other Information

  Item 1. through Item 6.                                                  9-10

  Signatures                                                                 11



<PAGE>

                 BROWN-BENCHMARK PROPERTIES LIMITED PARTNERSHIP
                                 Balance Sheets
<TABLE>
<CAPTION>
                                                                       September 30,
                                                                           2002         December 31,
                                                                        (Unaudited)         2001
                                                                     ---------------- ----------------
 Assets
<S>                                                                  <C>              <C>
   Investment in real estate                                         $    11,348,954  $    11,950,233
   Cash and cash equivalents                                                 305,106          563,187
   Other assets
     Accounts receivable, net                                                 19,903           19,135
     Prepaid expenses                                                        126,063           15,868
     Escrow for real estate taxes                                            100,822          272,753
     Loan fees, less accumulated amortization
         of $103,362 and $93,022, respectively                               -                 10,340
                                                                     ---------------- ----------------
           Total other assets                                                246,788          318,096
                                                                     ---------------- ----------------

           Total assets                                              $    11,900,848  $    12,831,516
                                                                     ================ ================




 Liabilities and Partners' Capital (Deficit)
    Liabilities
     Accounts payable and accrued expenses                           $       463,320  $       635,865
     Tenant security deposits                                                142,259          113,348
     Due to affiliates                                                        33,016            8,891
     Mortgage loans payable                                               13,274,225       13,448,501
                                                                     ---------------- ----------------
           Total liabilities                                              13,912,820       14,206,605
                                                                     ---------------- ----------------


   Partners' Capital (Deficit)
     General Partners                                                       (253,842)        (241,104)
     Assignor Limited Partner:
       Assignment of Limited Partnership
         Interests - $25 stated value per
         unit, 500,000 units outstanding                                  (1,673,177)      (1,049,082)
       Limited Partnership Interests -
         $25 stated value per unit,
         40 units outstanding                                                (85,053)         (85,003)
     Subordinated Limited Partners                                               100              100
                                                                     ---------------- ----------------
           Total partners' deficit                                        (2,011,972)      (1,375,089)
                                                                     ---------------- ----------------

           Total liabilities and partners' deficit                   $    11,900,848  $    12,831,516
                                                                     ================ ================
</TABLE>




                 See accompanying notes to financial statements.

                                       -1-


<PAGE>

                 BROWN-BENCHMARK PROPERTIES LIMITED PARTNERSHIP
                            Statements of Operations
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                          Three Months Ended                    Nine Months Ended
                                                  ---------------------------------     ---------------------------------
                                                    September 30,    September 30,        September 30,    September 30,
                                                        2002             2001                 2002             2001
                                                  ---------------- ----------------     ---------------- ----------------
Revenues
<S>                                               <C>              <C>                  <C>              <C>
     Rental income                                $     1,057,489  $     1,025,232      $     2,982,455  $     3,107,126
     Interest income                                          200            3,158                1,534           11,926
                                                  ---------------- ----------------     ---------------- ----------------

                                                        1,057,689        1,028,390            2,983,989        3,119,052
                                                  ---------------- ----------------     ---------------- ----------------
Expenses
     Compensation and benefits                            114,210          113,104              310,525          343,197
     Utilities                                            104,870           75,774              237,255          233,814
     Property taxes                                        81,451           92,490              244,795          277,470
     Maintenance and repairs                              157,094          155,684              329,636          360,045
     Property management fee                               46,353           46,124              132,976          139,581
     Advertising                                           19,207            9,434               48,716           32,996
     Insurance                                             31,147            8,625               82,589           25,875
     Other                                                 20,357           15,614               74,910           51,392
     Administrative  and professional fees                 38,398           12,471               86,839           37,181
     Interest expense                                     268,808          262,034              784,253          788,932
     Depreciation of property and equipment               236,782          233,340              704,012          700,020
     Amortization of loan fees                                  0            5,166               10,340           15,498
                                                  ---------------- ----------------     ---------------- ----------------

                                                        1,118,677        1,029,860            3,046,846        3,006,001
                                                  ---------------- ----------------     ---------------- ----------------

Net income (loss)                                 $       (60,988) $        (1,470)     $       (62,857) $       113,051
                                                  ================ ================     ================ ================




Net income (loss) per unit of assignee
   limited partnership interest - basic           $         (0.12) $         (0.00)     $         (0.12) $          0.22
                                                  ================ ================     ================ ================

</TABLE>




                 See accompanying notes to financial statements.

                                       -2-
<PAGE>
                 BROWN-BENCHMARK PROPERTIES LIMITED PARTNERSHIP
                    Statements of Partners' Capital (Deficit)
                  Nine months ended September 30, 2002 and 2001
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                             Assignor Limited Partner
                                                          --------------------------------
                                                           Assignment
                                                           of Limited        Limited        Subordinated
                                            General       Partnership      Partnership        Limited
                                            Partners       Interests        Interests        Partners          Total
                                        --------------- ---------------  ---------------  --------------  ---------------
<S>                                     <C>             <C>              <C>              <C>             <C>
Balance at December 31, 2001            $     (241,104) $   (1,049,082)  $      (85,003)  $         100   $   (1,375,089)

Net loss                                        (1,257)        (61,595)              (5)              -          (62,856)

Distributions to partners                      (11,481)       (562,500)             (45)              -         (574,026)
                                        --------------- ---------------  ---------------  --------------  ---------------

Balance at September 30, 2002           $     (253,842) $   (1,673,177)  $      (85,053)  $         100   $   (2,011,971)
                                        =============== ===============  ===============  ==============  ===============





Balance at December 31, 2000            $     (227,278) $     (371,634)  $      (84,949)  $         100   $     (683,761)

Net income                                       2,261         110,781                9               -          113,051

Distributions to partners                      (11,481)       (562,500)             (45)              -         (574,026)
                                        --------------- ---------------  ---------------  --------------  ---------------

Balance at September 30, 2001           $     (236,498) $     (823,353)  $      (84,985)  $         100   $   (1,144,736)
                                        =============== ===============  ===============  ==============  ===============

</TABLE>


                 See accompanying notes to financial statements.

                                       -3-

<PAGE>

                 BROWN-BENCHMARK PROPERTIES LIMITED PARTNERSHIP
                            Statements of Cash Flows
                                   (Unaudited)
<TABLE>
<CAPTION>

                                                                            Nine Months Ended
                                                                      September 30,    September 30,
                                                                          2002             2001
                                                                    ---------------- ----------------
Cash flows from operating activities
<S>                                                                 <C>              <C>
   Net income (loss)                                                $       (62,857) $       113,051
   Adjustments to reconcile net income (loss)
     to net cash provided by operating activities
       Depreciation of property and equipment                               704,012          700,020
       Amortization of loan fees                                             10,340           15,498
       Changes in assets and liabilities
         (Increase) decrease in accounts receivable                            (768)           1,929
         (Increase) decrease in prepaid expenses                           (110,195)           4,770
         Decrease in escrow for real estate taxes                           171,931           41,848
         Decrease in accounts payable and accrued expenses                 (172,545)         (13,402)
         Increase (decrease) in due to affiliates                            24,125           (1,219)
         Increase (decrease) in tenant security deposits                     28,911          (10,164)
                                                                    ---------------- ----------------

Net cash provided by operating activities                                   592,954          852,331
                                                                    ---------------- ----------------

Cash flows from investing activities-
   additions to investment in real estate                                  (102,733)         (77,726)
                                                                    ---------------- ----------------

Cash flows from financing activities
   Distributions to partners                                               (574,026)        (574,026)
   Mortgage loan principal reduction                                       (174,276)        (192,492)
                                                                    ---------------- ----------------

Net cash used in financing activities                                      (748,302)        (766,518)
                                                                    ---------------- ----------------

Net increase (decrease) in cash and cash equivalents                       (258,081)           8,087
Cash and cash equivalents
   Beginning of period                                                      563,187          638,784
                                                                    ---------------- ----------------

   End of period                                                    $       305,106  $       646,871
                                                                    ================ ================
</TABLE>



                 See accompanying notes to financial statements.

                                       -4-

<PAGE>

                 BROWN-BENCHMARK PROPERTIES LIMITED PARTNERSHIP

                          Notes to Financial Statements
                           September 30, 2002 and 2001
                                   (Unaudited)


NOTE 1 - THE PARTNERSHIP AND BASIS OF PREPARATION

The accompanying financial statements of Brown-Benchmark Properties Limited
Partnership (the "Partnership") do not include all of the information and note
disclosures normally included in financial statements prepared in accordance
with accounting principles generally accepted in the United States of America.
The unaudited interim financial statements reflect all adjustments which are, in
the opinion of management, necessary for a fair statement of financial position,
operating results and cash flows for the interim periods presented. All such
adjustments are of a normal recurring nature. The unaudited interim financial
information should be read in conjunction with the financial statements
contained in the 2001 Annual Report.


NOTE 2 - INVESTMENT IN REAL ESTATE

Investment in real estate is summarized as follows:

                                     September 30, 2002       December 31, 2001

 Land                                   $  1,257,000             $  1,257,000
 Buildings                                21,416,568               21,416,568
 Furniture, fixtures
    and equipment                          2,780,126                2,677,393
                                       -------------            -------------
                                          25,453,694               25,350,961
 Less accumulated depreciation            14,104,740               13,400,728
                                        ------------             ------------
          Total                          $11,348,954              $11,950,233
                                         ===========              ===========



NOTE 3 - CASH AND CASH EQUIVALENTS

The Partnership considers all short-term investments with maturities of three
months or less at dates of purchase as cash equivalents. Cash and cash
equivalents consist of cash and money market accounts and are stated at cost,
which approximated market value at September 30, 2002 and December 31, 2001.


NOTE 4 - RELATED PARTY TRANSACTIONS

The Administrative General Partner was reimbursed for certain costs associated
with administering the Partnership, including clerical services, investor
communication services, legal services, and reports and filings made to
regulatory authorities totaling $33,016 and $7,107 during the three months ended
September 30, 2002 and 2001, respectively, and $63,633 and $23,193 for the nine
months ended September 30, 2002 and 2001 respectively.

Benchmark Properties, Inc., an affiliate of the Development General Partner, the
managing agent for the properties through January 7, 2002, earned a management
fee of $3,422 in 2002 and $46,124 and $139,581 for the three and nine months
ended September 30, 2001, respectively. Effective January 7, 2002, the
management agreement was assigned to NHP Management Company in anticipation of
the assignment of the General Partner interest of the Development General
Partner to AIMCO/NHP Properties, Inc. or one of its affiliates. NHP Management
Company earned a management fee of $46,353, and $129,554, for the three and nine
months ended September 30, 2002, respectively.


                                      -5-
<PAGE>
                 BROWN-BENCHMARK PROPERTIES LIMITED PARTNERSHIP

                          Notes to Financial Statements
                           September 30, 2002 and 2001
                                   (Unaudited)



NOTE 5 - MORTGAGE LOANS PAYABLE

The mortgage loans had a stated rate of interest of 7.7% through June 1, 2002
(original maturity). Monthly payments were based on a 25-year amortization
schedule with a balloon payment due at maturity. Effective June 1, 2002 the
lender agreed to extend the loans for one year under terms similar to the
existing loans, except the interest rate was reduced to 7.5%.

The mortgage loan interest paid was $784,253 and $788,932 for the nine months
ended September 30, 2002 and 2001, respectively.


NOTE 6 - NET INCOME PER UNIT OF ASSIGNEE LIMITED PARTNERSHIP INTEREST

Net income per Unit of assignee limited partnership interest is disclosed on the
Statement of Operations and is based upon average units outstanding of 500,000
during the periods ended September 30, 2002 and 2001.





                                      -6-
<PAGE>
                 BROWN-BENCHMARK PROPERTIES LIMITED PARTNERSHIP

                Management's Discussion and Analysis of Financial
                       Condition and Results of Operations

Liquidity and Capital Resources

         The Partnership's liquidity is largely dependent on its ability to
maintain reasonably high occupancy levels, achieve rental rate increases as the
markets allow and to control operating expenses. The Partnership has sufficient
liquid assets from its rental revenues to satisfy its anticipated operating
expenditures and debt service obligations in 2002.

         On November 13, 2002, the Partnership will make a cash distribution to
its partners totaling $95,671, representing an annualized return of 3% on
invested capital. This distribution will be funded from the operations of the
three apartment properties and working capital reserves available at the end of
the third quarter of the year. The distribution is a decrease from the first two
quarters which represented an annualized return of 6% on invested capital. The
Partnership has decreased the distribution pending the final outcome of a number
of engineering studies of the three properties as a result of the positioning of
the properties for sale. We anticipate that various capital improvements may be
needed but are currently unsure of the extent and costs. Consequently, the
Partnership is taking a prudent and conservative approach to its cash flow
distribution policy.

         The Partnership's first mortgage loans with Canada Life Assurance
Company matured June 1, 2002. The Partnership extended the loans for one year.
All terms are essentially the same, except the interest rate decreased from 7.7%
to 7.5%. There will be no prepayment penalty and the loans may be paid off
following a sixty-day written notice to the lender.

         The Partnership has been negotiating to sell the portfolio of apartment
properties. Although these negotiations are serious, there are no assurances
that an acceptable contract of sale will be finalized and the properties will be
sold. If an acceptable sale is not achievable, new financing will be secured.

         The Partnership does not anticipate an outlay for any significant
capital improvements or repair costs that might adversely impact its liquidity
in 2002.

Results of Operations

         Third quarter 2002 revenues increased by $29,299 (3%) when compared to
revenues during the third quarter of 2001. Through the first three quarters of
2002, revenues decreased by $135,063 (4%) when compared to revenues during the
same period in 2001. The decrease in revenues is a result of higher rental
concessions and lower aggregate occupancy levels of the portfolio experienced
mainly in the first half of the year. Management has successfully implemented
various leasing strategies to improve the occupancy of all three properties.
Consequently, revenues have increased in the third quarter of 2002 and we are
optimistic this trend will continue. The primary reasons for the decrease in
occupancy and revenues in the first half of the year were the effects of the
recession, new apartment construction and home buying. A slower economy led to
slower job growth and an increase in the unemployment rate in Ohio. New
apartment construction, primarily in Cincinnati, has caused the apartment rental
market to be very competitive. Low mortgage interest rates have caused
significant home buying by prospective and existing tenants which contributed to
the decrease in occupancy and demand for apartments.

         Third quarter operating expenses, excluding interest charges,
depreciation and amortization costs increased $83,767 (16%) versus similar
expenses incurred during the third quarter of 2001. Through the third quarter of
the year, similar expenses have increased $46,690 (3%), versus 2001. As
anticipated, operating costs have increased during the third quarter of 2002 due
primarily to expenses to ready apartments for new tenants and, advertising and
administrative and professional fees related to partnership reporting and sale
activity.

         The aggregate net operating income of the Partnership (defined as
revenues less operating expenses excluding interest charges, depreciation and
amortization costs) decreased $181,753 (11%) when compared to the first three
quarters of 2001.



                                      -7-
<PAGE>

                 BROWN-BENCHMARK PROPERTIES LIMITED PARTNERSHIP

                Management's Discussion and Analysis of Financial
                       Condition and Results of Operations

Results of Operations (continued)

         Occupancy levels at Woodhills, in Dayton, Ohio, increased from 90%
through the third quarter of 2001 to 92% for the same period in 2002. The
average rental rate at Woodhills increased from $605 during the third quarter of
2001 to $626 during the third quarter of 2002. However, due to leasing
incentives, rental revenues through the third quarter of 2002 were approximately
$35,000 lower than in 2001.

         The average occupancy level at the Deerfield property was 92% through
the first three quarters of 2002. Through the same period in 2001 occupancy
averaged 94%. The average rental rate of approximately $650 at the community in
the third quarter of 2002 remains unchanged from the same period in 2001. Rental
revenues during the first three quarters of 2002 decreased approximately $78,000
when compared to revenues for the first three quarters of 2001.

         At Oakbrook, in Columbus, Ohio, occupancy averaged 91% through the
third quarter of 2002 which is a slight decrease from the 92% averaged during
the same period in 2001. Rental rates have increased slightly from $622 during
the third quarter of 2001 to $624 during the third quarter of 2002. Rental
revenues through the third quarter of 2002 decreased by approximately $12,000
when compared to 2001.

           As of the end of October 2002, occupancy was 97% at Woodhills and
Deerfield and 96% at Oakbrook. We are optimistic that these trends will continue
along with reduced concession costs and professional fees for the balance of the
year.

Critical Accounting Policies

         Critical accounting policies are those that are both important to the
presentation of financial condition and results of operations and require
management's most difficult, complex or subjective judgments. The Partnership's
critical accounting policy relates to the evaluation of impairment of long-lived
assets.

         If events or changes in circumstances indicate that the carrying value
of a property to be held and used may be impaired, a recoverability analysis is
performed based on estimated undiscounted cash flows to be generated from the
property in the future. If the analysis indicates that the carrying value is not
recoverable from future cash flows, the property is written down to estimated
fair value and an impairment loss is recognized. If the Partnership decides to
sell a property, it evaluates the recoverability of the carrying amount of the
assets. If the evaluation indicates that the carrying value is not recoverable
from estimated net sales proceeds, the property is written down to estimated
fair value less costs to sell and an impairment loss is recognized. The
estimates of cash flows and fair values of the properties are based on current
market conditions and consider matters such as rental rates and occupancies for
the property and comparable properties, recent sales data for comparable
properties and, where applicable, contracts or the results of negotiations with
purchasers or prospective purchasers. These estimates are subject to revision as
market conditions and the Partnership's assessment of them change.



                                       -8-
<PAGE>


                 BROWN-BENCHMARK PROPERTIES LIMITED PARTNERSHIP


                          PART I. FINANCIAL INFORMATION


Item 3.   Quantitative and Qualitative Disclosures About Market Risk

            The Partnership has exposure to changing interest rates and is
currently not engaged in hedging activities. Interest on the Partnership's
$13,274,225 mortgage is at a fixed rate of 7.5% and the loans mature on June 1,
2003.


Item 4.   Controls and Procedures

          Within the 90-day period prior to the filing of this quarterly report,
an evaluation was performed under the supervision and with the participation of
the Partnership's management, including the Chief Executive Officer and Chief
Financial Officer of the general partner, of the effectiveness of the design and
operation of disclosure controls and procedures as defined in Rule 13a-14 of the
rules promulgated under the Securities and Exchange Act of 1934, as amended.
Based on that evaluation, the Chief Executive Officer and Chief Financial
Officer concluded that the design and operation of these disclosure controls and
procedures were effective. There have been no significant changes in our
internal controls or in other factors that could significantly affect these
controls subsequent to the date of their evaluation.




                           PART II. OTHER INFORMATION


Item 1.     Legal Proceedings

                  Inapplicable

Item 2.     Changes in Securities and Use of Proceeds

                  Inapplicable

Item 3.     Defaults upon Senior Securities

                  Inapplicable

Item 4.     Submission of Matters to a Vote of Security Holders

                  Inapplicable

Item 5.     Other Information

          Inapplicable


                                       -9-
<PAGE>


                 BROWN-BENCHMARK PROPERTIES LIMITED PARTNERSHIP


Item 6.     Exhibits and Reports on Form 8-K

a)       Exhibits

          Exhibit 99.1  Certification  Pursuant to 18 U.S.C.  Section  1350, as
          Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

          Exhibit 99.2  Certification  Pursuant to 18 U.S.C.  Section  1350, as
          Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

          Exhibit 99.3  Certification  Pursuant to 18 U.S.C.  Section  1350, as
          Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

          Exhibit 99.4 Certification Pursuant to 18 U.S.C. Section 1350, as
          Adopted  Pursuant  to Section  906 of the  Sarbanes-Oxley  Act of
          2002.

          Exhibit  99.5   Certification  of  Principal   Executive  Officer
          Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

          Exhibit 99.6  Certification of Principal  Financial  Officer
          Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

          Exhibit 99.7 Certification of Principal Executive Officer
          Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

          Exhibit 99.8  Certification  of  Principal  Financial  Officer
          Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.


b)  Reports on Form 8-K:     None



                                      -10-
<PAGE>


                 BROWN-BENCHMARK PROPERTIES LIMITED PARTNERSHIP





                                   SIGNATURES





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



                                  BROWN-BENCHMARK PROPERTIES
                                        LIMITED PARTNERSHIP



DATE:     11/13/02                By:     /s/  John M.Prugh

                                  John M. Prugh
                                  President and Director
                                  Brown-Benchmark AGP, Inc.
                                  Administrative General Partner



DATE:      11/12/02               By:     /s/   Timothy M.Gisriel

                                  Timothy M. Gisriel
                                  Treasurer
                                  Brown-Benchmark AGP, Inc.
                                  Administrative General Partner




















                                      -11-