<PAGE>   1
                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                                    FORM 10-Q


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

                  For the Quarterly Period Ended MARCH 31, 1999

                         Commission File Number 0-13112

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A California Limited Partnership)

                  I.R.S. Employer Identification No. 95-3778627

                         9090 WILSHIRE BLVD., SUITE 201
                            BEVERLY HILLS, CA. 90211

                         Registrant's Telephone Number,
                       Including Area Code (310) 278-2191



Indicate by check mark whether the registrant (1) has filed all documents and
reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding twelve 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>   2
                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                               INDEX TO FORM 10-Q

                      FOR THE QUARTER ENDED MARCH 31, 1999



PART I.  FINANCIAL INFORMATION

   Item 1.  Financial Statements

<TABLE>
<S>                                                                            <C>
               Consolidated Balance Sheets,
                   March 31, 1999 and December 31, 1998 ......................  1

               Consolidated Statements of Operations,
                   Three Months Ended, March 31, 1999 and 1998................  2

               Consolidated Statement of Partners' Deficiency
                   Three Months Ended March 31, 1999 .........................  3

               Consolidated Statements of Cash Flows
                   Three Months Ended March 31, 1999 and 1998 ................  4

               Notes to Consolidated Financial Statements ....................  5

   Item 2.  Management's Discussion and Analysis of Financial
                   Condition and Results of Operation ........................ 12


PART II.  OTHER INFORMATION

   Item 1.  Legal Proceedings................................................. 15

   Item 6.  Exhibits and Reports on Form 8-K ................................. 15

   Signatures ................................................................ 16
</TABLE>



<PAGE>   3
                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                 BALANCE SHEETS

                      MARCH 31, 1999 AND DECEMBER 31, 1998

                                     ASSETS

<TABLE>
<CAPTION>
                                                                            1999                 1998
                                                                         (Unaudited)           (Audited)
                                                                         -----------          -----------
<S>                                                                      <C>                  <C>
INVESTMENTS IN LIMITED PARTNERSHIPS (Note 2)                             $   513,744          $   500,744

CASH AND CASH EQUIVALENTS (Note 1)                                         3,676,209            5,477,969

CASH, restricted (Note 3)                                                                       1,397,081

OTHER ASSETS                                                                  57,085               50,985
                                                                         -----------          -----------

          TOTAL ASSETS                                                   $ 4,247,038          $ 7,426,779
                                                                         ===========          ===========

                                        LIABILITIES AND PARTNERS' EQUITY

LIABILITIES:
        interests (Notes 4 and 7)                                        $ 1,765,000          $ 1,765,000
    Accrued interest payable (Notes 4 and 7)                               1,851,384            1,817,184
    Accounts payable                                                          11,106              208,460
                                                                         -----------          -----------

                                                                           3,627,490            3,790,644
                                                                         -----------          -----------

COMMITMENTS AND CONTINGENCIES (Notes 2, 5 and 6)

PARTNERS' EQUITY (DEFICIENCY):
    General partners                                                        (344,994)            (314,828)
    Limited partners                                                         964,542            3,950,963
                                                                         -----------          -----------

                                                                             619,548            3,636,135
                                                                         -----------          -----------

           TOTAL LIABILITIES AND PARTNERS' EQUITY
                (DEFICIENCY)                                             $ 4,247,038          $ 7,426,779
                                                                         ===========          ===========
</TABLE>



                 The accompanying notes are an integral part of
                    these consolidated financial statements.



                                       1
<PAGE>   4
                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                      CONSOLIDATED STATEMENTS OF OPERATIONS
               FOR THE THREE MONTHS ENDED MARCH 31, 1999 AND 1998
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                              1999               1998
                                                            ---------          ---------
<S>                                                         <C>                <C>
RENTAL OPERATIONS:
     Revenues                                               $      --          $ 274,405
                                                            ---------          ---------

      Expenses:
         General and administrative                                --             22,125
         Operating                                                 --             90,438
         Depreciation and amortization (Note 1)                    --             43,614
         Interest                                                  --            121,155
                                                            ---------          ---------

                                                                   --            277,332
                                                            ---------          ---------

LOSS FROM RENTAL OPERATIONS                                        --             (2,927)
                                                            ---------          ---------

PARTNERSHIP OPERATIONS:
    Interest income                                            20,972             76,323
                                                            ---------          ---------

    Expenses:
         Management fees - general partner (Note 5)           110,982            125,556
         General and administrative                           134,205            167,099
         Interest (Note 2)                                     34,200            133,425
                                                            ---------          ---------
                                                              279,387            426,080
                                                            ---------          ---------

LOSS FROM PARTNERSHIP OPERATIONS                             (258,415)          (349,757)
                                                            ---------          ---------

EQUITY IN INCOME OF LIMITED
      PARTNERSHIPS AND AMORTIZATION
      OF ACQUISITION COSTS                                     13,000            182,000

DISTRIBUTIONS FROM LIMITED
      PARTNERSHIPS RECOGNIZED AS
      INCOME (Note 2)                                          25,909             70,800
                                                            ---------          ---------

NET LOSS                                                    $(219,506)         $ (99,884)
                                                            =========          =========

NET LOSS PER LIMITED PARTNERSHIP
     INTEREST (Note 1)                                      $     (13)         $      (6)
                                                            =========          =========
</TABLE>



                 The accompanying notes are an integral part of
                    these consolidated financial statements.



                                       2
<PAGE>   5
               REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                 CONSOLIDATED STATEMENTS OF PARTNERS' DEFICIENCY
                    FOR THE THREE MONTHS ENDED MARCH 31, 1999
                                   (Unaudited)

<TABLE>
<CAPTION>
                                               GENERAL           LIMITED
                                               PARTNERS          PARTNERS              TOTAL
                                              ----------        -----------         ------------
<S>                                           <C>               <C>                  <C>
PARTNERSHIP INTERESTS                                               16,810
                                                                ==========


DEFICIENCY,
       January 1, 1999                       $(314,828)         $ 3,950,963          $ 3,636,135

       Distributions                           (27,971)          (2,769,110)          (2,797,081)

       Net loss for the three months
       ended March 31, 1999                     (2,195)            (217,311)            (219,506)
                                             ---------          -----------          -----------

DEFICIENCY,
       March 31, 1999                        $(344,994)         $   964,542          $   619,548
                                             =========          ===========          ===========
</TABLE>


                 The accompanying notes are an integral part of
                    these consolidated financial statements.



                                       3
<PAGE>   6
               REAL ESTATE ASSOCIATES LIMITED VI AND SUBSIDIARIES
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
               FOR THE THREE MONTHS ENDED MARCH 31, 1999 AND 1998
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                       1999                1998
                                                                   -----------          -----------
<S>                                                                <C>                  <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
       Net loss                                                    $  (219,506)         $   (99,884)
       Adjustments to reconcile net loss to net
          cash used in operating activities:
             Equity in income of limited partnerships
                   and amortization of acquisition costs               (13,000)            (182,000)
             Depreciation and amortization                                                   43,614
             Increase in other assets                                   (6,100)                  (1)
             Increase in accrued interest payable                       34,200               76,700
             (Decrease) increase in accounts payable                                         24,011
             Increase in restricted cash                              (197,354)              (1,750)
                                                                   -----------          -----------

                Net cash used in operating activities                 (401,760)            (139,310)
                                                                   -----------          -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
       Distributions to limited partnerships recognized as
          as a return of capital                                                            100,020
       Sales proceeds                                                1,397,081
       Distributions to partners                                    (2,797,081)
                                                                   -----------          -----------

                                                                    (1,400,000)             100,020
                                                                   -----------          -----------

NET CASH (USED IN) PROVIDED BY INVESTING ACTIVITIES
       (DECREASE) IN CASH AND CASH EQUIVALENTS                      (1,801,760)             (39,290)

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                       5,477,969            5,849,983
                                                                   -----------          -----------

CASH AND CASH EQUIVALENTS, END OF PERIOD                           $ 3,676,209          $ 5,810,693
                                                                   ===========          ===========

SUPPLEMENTAL DISCLOSURE OF
       CASH FLOW INFORMATION:
          Cash paid during the period year for interest            $                    $   174,368
                                                                   ===========          ===========
</TABLE>



                 The accompanying notes are an integral part of
                    these consolidated financial statements.



                                       4

<PAGE>   7
                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                 MARCH 31, 1999


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

        GENERAL

        The information contained in the following notes to the financial
        statements is condensed from that which would appear in the audited
        annual financial statements; accordingly, the financial statements
        included herein should be reviewed in conjunction with the financial
        statements and related notes thereto contained in the annual report for
        the year ended December 31, 1998 prepared by Real Estate Associates
        Limited VI and Subsidiaries (the "Partnership"). Accounting measurements
        at interim dates inherently involve greater reliance on estimates than
        at year end. The results of operations for the interim periods presented
        are not necessarily indicative of the results for the entire year.

        In the opinion of the Partnership, the accompanying unaudited financial
        statements contain all adjustments (consisting primarily of normal
        recurring accruals) necessary to present fairly the financial position
        of the Partnership at March 31, 1999 and the results of operations and
        changes in cash flows for the three months then ended.

        The general partners have a 1 percent interest in profits and losses of
        the Partnership. The limited partners have the remaining 99 percent
        interest which is allocated in proportion to their respective individual
        investments. National Partnership Investments Corp. (NAPICO) is the
        corporate general partner of the Partnership. Casden Properties Inc.
        owns a 92.25% economic interest in NAPICO, with the balance owned by
        Casden Investment Corporation ("CIC"). CIC, which is wholly owned by
        Alan I. Casden, owns 95% of the voting common stock of NAPICO.

        USE OF ESTIMATES

        The preparation of financial statements in conformity with generally
        accepted accounting principles requires management to make estimates and
        assumptions that affect the reported amounts of assets and liabilities
        and disclosure of contingent assets and liabilities at the date of the
        financial statements and reported amounts of revenues and expenses
        during the reporting period. Actual results could differ from those
        estimates.

        PRINCIPLES OF CONSOLIDATION

        The consolidated financial statements include the accounts of Real
        Estate Associates Limited VI and its majority-owned general
        partnerships. All significant intercompany accounts and transactions
        have been eliminated in consolidation.

        METHOD OF ACCOUNTING FOR INVESTMENT IN THE UNCONSOLIDATED LIMITED
        PARTNERSHIPS

        The investments in unconsolidated limited partnerships are accounted for
        on the equity method. Acquisition, selection and other costs related to
        the acquisition of the projects are capitalized as part



                                       5
<PAGE>   8

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                 MARCH 31, 1999


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

        of the investment account and are being amortized on a straight line
        basis over the estimated lives of the underlying assets, which is
        generally 30 years.

        NET LOSS PER LIMITED PARTNERSHIP INTEREST

        Net loss per limited partnership interest was computed by dividing the
        limited partners' share of net loss by the number of limited partnership
        interests outstanding during the year. The number of limited partnership
        interests was 16,810 for the periods presented.

        CASH AND CASH EQUIVALENTS

        Cash and cash equivalents consist of unrestricted cash and bank
        certificates of deposit with maturities of three months or less.
        Restricted cash consist of tenants' security and escrow deposits and
        mortgage impounds. The Partnership has its cash and cash equivalents on
        deposit primarily with two high credit quality financial institutions.
        Such cash and cash equivalents are in excess of the FDIC insurance
        limit.

        INCOME TAXES

        No provision has been made for income taxes in the accompanying
        financial statements since such taxes, if any, are the liability of the
        individual partners.

        IMPAIRMENT OF LONG-LIVED ASSETS

        The Partnership reviews long-lived assets to determine if there has been
        any permanent impairment whenever events or changes in circumstances
        indicate that the carrying amount of the asset may not be recoverable.
        If the sum of the expected future cash flows is less than the carrying
        amount of the assets, the Partnership recognizes an impairment loss.

NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIPS

        The Partnership holds limited partnership interests in 20 limited
        partnerships as of March 31, 1999, after selling its interests in 10
        limited partnerships. In addition, the Partnership holds a general
        partner interest in REA III, which in turn, holds limited partner
        interests in 3 additional limited partnerships. In total, therefore, the
        Partnership holds interests, either directly or indirectly through REA
        III, in 23 partnerships which owned as March 31, 1999, residential low
        income rental projects consisting of 1,369 apartment units. The mortgage
        loans of these projects are payable to or insured by various
        governmental agencies.

        The Partnership, as a limited partner, is entitled to between 90 percent
        and 99 percent of the profits and losses of the limited partnerships it
        has invested in directly. The Partnership is also entitled to 99.9
        percent of the profits and losses of REA III. REA III holds a 99 percent
        interest in each of the limited partnerships in which it has invested.



                                       6
<PAGE>   9
                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                 MARCH 31, 1999


NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIP (CONTINUED)

        Equity in losses of unconsolidated limited partnerships is recognized in
        the financial statements until the limited partnership investment
        account is reduced to a zero balance or to a negative amount equal to
        further capital contributions required. Losses incurred after the
        limited partnership investment account is reduced to zero are not
        recognized.

        Distributions from the unconsolidated limited partnerships are accounted
        for as a return of capital until the investment balance is reduced to
        zero. Subsequent distributions received are recognized as income.

        The following is a summary of the investment in unconsolidated limited
        partnerships for the three months ended March 31, 1999:

<TABLE>
<S>                                                      <C>
        Balance, beginning of period                     $ 500,744
        Equity in income of limited partnerships            17,000
        Amortization of acquisition costs                   (4,000)
                                                         ---------
        Balance, end of period                           $ 513,744
                                                         =========
</TABLE>

        The following are unaudited combined estimated statements of operations
        for the three months ended March 31, 1999 and 1998 of the unconsolidated
        limited partnerships in which the Partnership has investments:

<TABLE>
<CAPTION>
                                      THREE MONTHS         THREE MONTHS
                                          ENDED                ENDED
                                     MARCH 31, 1999       MARCH 31, 1998
                                       -----------          -----------
<S>                                  <C>                  <C>
        Revenues:
            Rental and other           $ 2,478,000          $ 5,230,000
                                       -----------          -----------

        Expenses:
            Depreciation                   492,000              898,000
            Interest                       686,000            1,289,000
            Operating expenses           1,448,000            3,529,000
                                       -----------          -----------

        Total expenses                   2,626,000            5,716,000
                                       -----------          -----------

                 Net loss              $  (148,000)         $  (486,000)
                                       ===========          ===========
</TABLE>

        NAPICO, or one of its affiliates, is the general partner and property
        management agent for certain of the limited partnerships included above.



                                       7
<PAGE>   10
                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                 MARCH 31, 1999


NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIP (CONTINUED)

        One of the limited partnerships (Drexel Park III) sold its property on
        May 1, 1997, upon the necessary regulatory approval from the Maryland
        Community Development Agency. Drexel Park III was sold for $2,450,000.
        After payment of closing costs, the limited partnership received net
        proceeds of approximately $733,000, which were distributed to the
        Partnership. The investment balance as of December 31, 1996 was
        $597,000.

        Under recent adopted law and policy, the United States Department of
        Housing and Urban Development ("HUD") has determined not to renew the
        Housing Assistance Payment ("HAP") Contracts on a long term basis on the
        existing terms. In connection with renewals of the HAP Contracts under
        such new law and policy, the amount of rental assistance payments under
        renewed HAP Contracts will be based on market rentals instead of above
        market rentals, which was generally the case under existing HAP
        Contracts. The payments under the renewed HAP Contracts are not expected
        to be in an amount that would provide sufficient cash flow to permit
        owners of properties subject to HAP Contracts to meet the debt service
        requirements of existing loans insured by the Federal Housing
        Administration of HUD ("FHA") unless such mortgage loans are
        restructured. In order to address the reduction in payments under HAP
        Contracts as a result of this new policy, the Multi-family Assisted
        Housing Reform and Affordability Act of 1997 ( "MAHRAA"), which was
        adopted in October 1997, provides for the restructuring of mortgage
        loans insured by the FHA with respect to properties subject to the
        Section 8 program. Under MAHRAA, an FHA-insured mortgage loan can be
        restructured into a first mortgage loan which will be amortized on a
        current basis and a low interest second mortgage loan payable to FHA
        which will only be payable on maturity of the first mortgage loan. This
        restructuring results in a reduction in annual debt service payable by
        the owner of the FHA-insured mortgage loan and is expected to result in
        an insurance payment from FHA to the holder of the FHA-insured loan due
        to the reduction in the principal amount. MAHRAA also phases out
        project-based subsidies on selected properties serving families not
        located in rental markets with limited supply, converting such subsidies
        to a tenant-based subsidy.

        MAHRAA provides that properties begin the restructuring process in
        federal fiscal year 1999 (beginning October 1, 1998). On September 11,
        1998, HUD issued interim regulations implementing MAHRAA and final
        regulations are expected to be issued in 1999. With respect to the local
        limited partnerships' expiring HAP Contracts, it is expected that the
        HAP payments will be reduced or terminated pursuant to the terms of
        MAHRAA.

        When the HAP Contracts are subject to renewal, there can be no assurance
        that the local limited partnerships in which the Partnership has an
        investment will be permitted to restructure its mortgage indebtedness
        under MAHRAA. In addition, the economic impact on the Partnership of the
        combination of the reduced payments under the HAP Contracts and the
        restructuring of the existing FHA-insured mortgage loans under MAHRAA is
        uncertain.

        As a result of the foregoing, the Partnership in 1997 undertook an
        extensive review of disposition, refinancing or re-engineering
        alternatives for the properties in which the limited partnerships have
        invested and are subject to HUD mortgage and rental subsidy programs.
        The Partnership has incurred



                                       8
<PAGE>   11
                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                 MARCH 31, 1999


NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIP (CONTINUED)

        expenses in connection with this review by various third party
        professionals, including accounting, legal, valuation, structural and
        engineering costs, which amounted to $520,586 through December 31, 1998.

        On December 30, 1998, the Partnership sold its limited partnership
        interests in 10 local limited partnerships to subsidiaries of Casden
        Properties Inc. The sale resulted in cash proceeds to the Partnership of
        $1,397,081 and a net gain of $7,497,969, after deducting selling costs.
        The cash proceeds were held in escrow at December 31, 1998 and were
        collected in 1999. In March 1999, the Partnership made cash
        distributions of $2,769,110 to the limited partners and $27,971 to the
        general partners, primarily using proceeds from the sale of the
        partnership interests.

        Casden Properties Inc. purchased such limited partner interests for
        cash, which it raised in connection with a private placement of its
        equity securities. The purchase was subject to, among other things, (i)
        the purchase of the general partner interests in the local limited
        partnerships by Casden Properties Inc.; (ii) the approval of HUD and
        certain state housing finance agencies; and (iii) the consent of the
        limited partners to the sale of the local limited partnership interests
        held for investment by the Partnership.

        In August 1998, a consent solicitation statement was sent to the limited
        partners setting forth the terms and conditions of the purchase of the
        limited partners' interests held for investment by the Partnership,
        together with certain amendments to the Partnership Agreement and other
        disclosures of various conflicts of interest in connection with the
        proposed transaction. Prior to the sale of the partnership interests,
        the consents of the limited partners to the sale and amendments to the
        Partnership Agreement were obtained.

NOTE 3 - MORTGAGE NOTE PAYABLE

        The mortgage note has an interest rate of 8.78 percent per annum, with
        principal and interest payments due monthly. The note matures in
        September 2006.

        The note is collateralized by the underlying rental property.

NOTE 4 - NOTES PAYABLE

        Certain of the Partnership's investments involved purchases of
        partnership interests from partners who subsequently withdrew from the
        operating partnership. The purchase of these interests provides for
        additional cash payments of approximately $325,000 based upon specified
        events as outlined in the purchase agreements. Such amounts have been
        recorded as liabilities. In addition, the Partnership is obligated on
        non-recourse notes payable of $1,440,000 which bear interest at 9.5 or
        10 percent per annum and have principal maturities ranging from December
        1999 to December 2012. The Partnership was relieved of notes payable in
        the amount of $4,030,000 in connection to the sale of certain
        partnership interests in 1998.




                                       9
<PAGE>   12
                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                 MARCH 31, 1999


NOTE 4 - NOTES PAYABLE (CONTINUED)

        The notes and related interest are payable from cash flow generated from
        operations of the related rented properties as defined in the notes.
        These obligations are collateralized by the Partnership's investments in
        the limited partnerships. Unpaid interest is due at maturity of the
        notes.

NOTE 5 - MANAGEMENT FEES AND EXPENSES DUE TO GENERAL PARTNER

        Under the terms of the Restated Certificate and Agreement of Limited
        Partnership, the Partnership is obligated to NAPICO for an annual
        management fee of approximately .4 percent of the original invested
        assets of the limited partnerships. Invested assets are defined as the
        costs of acquiring project interests, including the proportionate amount
        of the mortgage loans related to the Partnership's interests in the
        capital accounts of the respective partnerships. This fee was
        approximately $111,000 and $126,000 for the three months ended March 31,
        1999 and 1998, respectively.

        The Partnership reimburses NAPICO for certain expenses. The
        reimbursement to NAPICO was approximately $10,300 and $12,800 for the
        three months ended March 31, 1999 and 1998, respectively, and is
        included in general and administrative expenses.

NOTE 6 - CONTINGENCIES

        On August 27, 1998, two investors holding an aggregate of eight units of
        limited partnership interests in Real Estate Associates Limited III (an
        affiliated partnership in which NAPICO is the managing general partner)
        and two investors holding an aggregate of five units of limited
        partnership interest in Real Estate Associates Limited VI (another
        affiliated partnership in which NAPICO is the managing general partner)
        commenced an action in the United States District Court for the Central
        District of California against the Partnership, NAPICO and certain other
        affiliated entities. The complaint alleges that the defendants breached
        their fiduciary duty to the limited partners of certain NAPICO managed
        partnerships and made materially false and misleading statements in the
        consent solicitation statements sent to the limited partners of such
        partnerships relating to approval of the transfer of partnership
        interests in limited partnerships, owning certain of the properties, to
        Casden Properties Inc., which was organized by an affiliate of NAPICO.
        The plaintiffs seek equitable relief, as well as compensatory damages
        and litigation related costs. The managing general partner of such
        NAPICO managed partnerships and the other defendants believe that the
        plaintiffs' claims are without merit and intend to contest the action
        vigorously.

        The corporate general partner of the Partnership is involved in various
        lawsuits and have also been named defendants in other lawsuits arising
        from transactions in the ordinary course of business. In the opinion of
        management and the corporate general partner, the claims will not result
        in any material liability to the Partnership.




                                       10
<PAGE>   13

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                 MARCH 31, 1999


NOTE 6 - CONTINGENCIES

        The Partnership has assessed the potential impact of the Year 2000
        computer systems issue on its operations. The Partnership believes that
        no significant actions are required to be taken by the Partnership to
        address the issue and that the impact of the Year 2000 computer systems
        issue will not materially affect the Partnership's future operating
        results or financial condition.

NOTE 7 - FAIR VALUE OF FINANCIAL INSTRUMENTS

        Statement of Financial Accounting Standards No. 107, "Disclosure about
        Fair Value of Financial Instruments," requires disclosure of fair value
        information about financial instruments, when it is practicable to
        estimate that value. The mortgage notes payable are insured by HUD and
        are collateralized by the rental properties. The notes payable are
        collateralized by the Partnership's investments in investee limited
        partnerships and are payable only out of cash distributions from the
        investee partnerships. The operations generated by the property and
        investee limited partnerships are subject to various government rules,
        regulations and restrictions which make it impracticable to estimate the
        fair value of the mortgage note payable and the notes payable and
        related accrued interest. The carrying amount of other assets and
        liabilities reported on the balance sheets that require such disclosure
        approximates fair value due to their short-term maturity.



                                       11
<PAGE>   14

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                 MARCH 31, 1999


ITEM 2.  MANAGEMENT'S ANALYSIS AND DISCUSSION OF FINANCIAL CONDITION AND
         RESULTS OF OPERATIONS

        LIQUIDITY AND CAPITAL RESOURCES

        The Partnership's primary sources of funds include interest income on
        short term investments and distributions from limited partnerships in
        which the Partnership has invested. It is not expected that any of the
        local limited partnerships in which the Partnership has invested will
        generate cash flow sufficient to provide for distributions to limited
        partners in any material amount. The Partnership made a distributions to
        investors in March 31, 1999, previously using proceeds from the
        disposition of its investments in certain limited partnerships.

        RESULTS OF OPERATIONS

        Rental operations consist primarily of rental income and depreciation
        expense, debt service, and normal operating expenses to maintain the
        properties. Variances in rental operations from the prior year to the
        current year relate to the sale of the Drexel Property.

        Partnership revenues consist primarily of interest income earned on
        certificates of deposit and other temporary investment of funds not
        required for investment in local partnerships.

        Operating expenses consist primarily of recurring general and
        administrative expenses and professional fees for services rendered to
        the Partnership. In addition, an annual Partnership management fee in an
        amount equal to .4 percent of invested assets is payable to the
        corporate general partner.

        The Partnership accounts for its investments in the local limited
        partnerships on the equity method, thereby adjusting its investment
        balance by its proportionate share of the income or loss of the local
        limited partnerships. Losses incurred after the limited partnership
        investment account is reduced to zero are not recognized in accordance
        with the equity accounting method.

        Distributions received from limited partnerships are recognized as
        return of capital until the investment balance has been reduced to zero
        or to a negative amount equal to future capital contributions required.
        Subsequent distributions received are recognized as income.

        Except for certificates of deposit and money market funds, the
        Partnership's investments are entirely from interests in other limited
        and general partnerships owning government assisted projects. Funds
        temporarily not required for such investments in projects are invested
        providing interest income as reflected in the statement of operations.
        These funds can be converted to cash to meet obligations as they arise.
        The Partnership intends to continue investing available funds in this
        manner.



                                       12
<PAGE>   15
                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                 MARCH 31, 1999


ITEM 2.  MANAGEMENT'S ANALYSIS AND DISCUSSION OF FINANCIAL CONDITION AND
         RESULTS OF OPERATIONS (CONTINUED)

        RESULTS OF OPERATIONS (CONTINUED)

        Under recent adopted law and policy, the United States Department of
        Housing and Urban Development ("HUD") has determined not to renew the
        Housing Assistance Payment ("HAP") Contracts on a long term basis on the
        existing terms. In connection with renewals of the HAP Contracts under
        such new law and policy, the amount of rental assistance payments under
        renewed HAP Contracts will be based on market rentals instead of above
        market rentals, which was generally the case under existing HAP
        Contracts. The payments under the renewed HAP Contracts are not expected
        to be in an amount that would provide sufficient cash flow to permit
        owners of properties subject to HAP Contracts to meet the debt service
        requirements of existing loans insured by the Federal Housing
        Administration of HUD ("FHA") unless such mortgage loans are
        restructured. In order to address the reduction in payments under HAP
        Contracts as a result of this new policy, the Multi-family Assisted
        Housing Reform and Affordability Act of 1997 ( "MAHRAA"), which was
        adopted in October 1997, provides for the restructuring of mortgage
        loans insured by the FHA with respect to properties subject to the
        Section 8 program. Under MAHRAA, an FHA-insured mortgage loan can be
        restructured into a first mortgage loan which will be amortized on a
        current basis and a low interest second mortgage loan payable to FHA
        which will only be payable on maturity of the first mortgage loan. This
        restructuring results in a reduction in annual debt service payable by
        the owner of the FHA-insured mortgage loan and is expected to result in
        an insurance payment from FHA to the holder of the FHA-insured loan due
        to the reduction in the principal amount. MAHRAA also phases out
        project-based subsidies on selected properties serving families not
        located in rental markets with limited supply, converting such subsidies
        to a tenant-based subsidy.

        MAHRAA provides that properties begin the restructuring process in
        federal fiscal year 1999 (beginning October 1, 1998). On September 11,
        1998, HUD issued interim regulations implementing MAHRAA and final
        regulations are expected to be issued in 1999. With respect to the local
        limited partnerships' expiring HAP Contracts, it is expected that the
        HAP payments will be reduced or terminated pursuant to the terms of
        MAHRAA.

        When the HAP Contracts are subject to renewal, there can be no assurance
        that the local limited partnerships in which the Partnership has an
        investment will be permitted to restructure its mortgage indebtedness
        under MAHRAA. In addition, the economic impact on the Partnership of the
        combination of the reduced payments under the HAP Contracts and the
        restructuring of the existing FHA-insured mortgage loans under MAHRAA is
        uncertain.

        As a result of the foregoing, the Partnership in 1997 undertook an
        extensive review of disposition, refinancing or re-engineering
        alternatives for the properties in which the limited partnerships have
        invested and are subject to HUD mortgage and rental subsidy programs.
        The Partnership has incurred expenses in connection with this review by
        various third party professionals, including accounting, legal,
        valuation, structural and engineering costs, which amounted to $520,586
        through December 31, 1998.



                                       13
<PAGE>   16
                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                 MARCH 31, 1999


ITEM 2.  MANAGEMENT'S ANALYSIS AND DISCUSSION OF FINANCIAL CONDITION AND
         RESULTS OF OPERATIONS (CONTINUED)

        RESULTS OF OPERATIONS (CONTINUED)

        On December 30, 1998, the Partnership sold its limited partnership
        interests in 10 local limited partnerships to subsidiaries of Casden
        Properties Inc. The sale resulted in cash proceeds to the Partnership of
        $1,397,081 and a net gain of $7,497,969, after deducting selling costs.
        The cash proceeds were held in escrow at December 31, 1998 and were
        collected subsequent to year-end. In March 1999, the Partnership made
        cash distributions of $2,769,110 to the limited partners and $27,971 to
        the general partners, primarily using proceeds from the sale of the
        partnership interests.

        Casden Properties Inc. purchased such limited partner interests for
        cash, which it raised in connection with a private placement of its
        equity securities. The purchase was subject to, among other things, (i)
        the purchase of the general partner interests in the local limited
        partnerships by Casden Properties Inc.; (ii) the approval of HUD and
        certain state housing finance agencies; and (iii) the consent of the
        limited partners to the sale of the local limited partnership interests
        held for investment by the Partnership.

        In August 1998, a consent solicitation statement was sent to the limited
        partners setting forth the terms and conditions of the purchase of the
        limited partners' interests held for investment by the Partnership,
        together with certain amendments to the Partnership Agreement and other
        disclosures of various conflicts of interest in connection with the
        proposed transaction. Prior to the sale of the partnership interests,
        the consents of the limited partners to the sale and amendments to the
        Partnership Agreement were obtained.

        The Partnership has assessed the potential impact of the Year 2000
        computer systems issue on its operations. The Partnership believes that
        no significant actions are required to be taken by the Partnership to
        address the issue and that the impact of the Year 2000 computer systems
        issue will not materially affect the Partnership's future operating
        results or financial condition.



                                       14
<PAGE>   17
                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                 MARCH 31, 1999


PART II.  OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

On August 27, 1998, two investors holding an aggregate of eight units of limited
partnership interests in Real Estate Associates Limited III (an affiliated
partnership in which NAPICO is the managing general partner) and two investors
holding an aggregate of five units of limited partnership interest in Real
Estate Associates Limited VI (another affiliated partnership in which NAPICO is
the managing general partner) commenced an action in the United States District
Court for the Central District of California against the Partnership, NAPICO and
certain other affiliated entities. The complaint alleges that the defendants
breached their fiduciary duty to the limited partners of certain NAPICO managed
partnerships and made materially false and misleading statements in the consent
solicitation statements sent to the limited partners of such partnerships
relating to approval of the transfer of partnership interests in limited
partnerships, owning certain of the properties, to Casden Properties Inc., which
was organized by an affiliate of NAPICO. The plaintiffs seek equitable relief,
as well as compensatory damages and litigation related costs. The managing
general partner of such NAPICO managed partnerships and the other defendants
believe that the plaintiffs' claims are without merit and intend to contest the
action vigorously.

The Partnership's general partner is involved in various lawsuits. None of these
lawsuits are related to the Partnership.


ITEM 6. EXHIBITS AND REPORTS ON FORM 8-K

        (a) No exhibits are required per the provision of item 7 of regulation
S-K.



                                       15
<PAGE>   18
                        REAL ESTATE ASSOCIATES LIMITED VI
                             (A LIMITED PARTNERSHIP)

                                 MARCH 31, 1999


                                   SIGNATURES


Pursuant to the requirements 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.


                                      REAL ESTATE ASSOCIATES LIMITED VI AND
                                      SUBSIDIARIES
                                      (a California limited partnership)


                                      By: National Partnership Investments
                                          Corp., General Partner



                                          /s/ BRUCE NELSON
                                          --------------------------------------
                                          Bruce Nelson
                                          President


                                      Date: May 20, 1999
                                            ------------------------------------



                                          /s/ CHARLES H. BOXENBAUM
                                          --------------------------------------
                                          Charles H. Boxenbaum
                                          Chief Executive Officer


                                      Date: May 20, 1999
                                            ------------------------------------



                                       16