<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 SEPTEMBER 30, 2000

                         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 SEPTEMBER 30, 2000



PART I. FINANCIAL INFORMATION

<TABLE>
<S>                                                                                                  <C>
      Item 1.  Financial Statements

                  Consolidated Balance Sheets,
                        September 30, 2000 and December 31, 1999 ..............................       1

                  Consolidated Statements of Operations,
                        Nine and Three Months Ended, September 30, 2000 and 1999 ..............       2

                  Consolidated Statement of Partners' Equity (Deficiency)
                        Nine Months Ended September 30, 2000 ..................................       3

                  Consolidated Statements of Cash Flows
                        Nine Months Ended September 30, 2000 and 1999 .........................       4

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

      Item 2.  Management's Discussion and Analysis of Financial
                  Condition and Results of Operation ..........................................      13


PART II. OTHER INFORMATION

      Item 1.  Legal Proceedings ..............................................................      16

      Item 6.  Exhibits and Reports on Form 8-K ...............................................      16

      Signatures ..............................................................................      17
</TABLE>



<PAGE>   3

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                 BALANCE SHEETS

                    SEPTEMBER 30, 2000 AND DECEMBER 31, 1999

                                     ASSETS
<TABLE>
<CAPTION>
                                                                               2000
                                                                            (Unaudited)           1999
                                                                          ---------------   ---------------
       <S>                                                                <C>               <C>
       INVESTMENTS IN LIMITED PARTNERSHIPS (Note 2)                       $       651,730   $       509,999

       CASH AND CASH EQUIVALENTS (Note 1)                                       3,270,908         3,312,395

       DUE FROM NAPICO                                                                 --           239,770
                                                                          ---------------   ---------------

                 TOTAL ASSETS                                             $     3,922,638   $     4,062,164
                                                                          ===============   ===============


                                      LIABILITIES AND PARTNERS' EQUITY

       LIABILITIES:
           Notes payable and amounts due for partnership
               interests (Notes 3 and 6)                                  $     1,765,000   $     1,765,000
           Accrued interest payable (Notes 3 and 6)                             2,045,200         1,957,734
           Accounts payable                                                        12,937             6,905
                                                                          ---------------   ---------------

                                                                                3,823,137         3,729,639
                                                                          ---------------   ---------------

       COMMITMENTS AND CONTINGENCIES (Notes 4 and 5)

       PARTNERS' EQUITY (DEFICIENCY):
           General partners                                                      (350,194)         (347,864)
           Limited partners                                                       449,695           680,389
                                                                          ---------------   ---------------

                                                                                   99,501           332,525
                                                                          ---------------   ---------------

                  TOTAL LIABILITIES AND PARTNERS' DEFICIENCY              $     3,922,638   $     4,062,164
                                                                          ===============   ===============
</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
             NINE AND THREE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                     Nine months     Three months     Nine months     Three months
                                                        ended           ended            ended           ended
                                                     Sept 30, 2000   Sept 30, 2000    Sept 30, 1999   Sept 30, 1999
                                                    --------------  --------------   -------------   -------------
<S>                                                 <C>             <C>              <C>             <C>
PARTNERSHIP OPERATIONS:
    Interest income                                      135,342          53,720          97,398          39,019
                                                       ---------       ---------       ---------       ---------

    Expenses:
       Management fees - general partner (Note 4)        154,825          51,875         332,946         110,982
       General and administrative (Notes 2 and 4)        161,718          30,482         268,028          47,670
       Interest                                          102,600          34,200         102,600          34,200
                                                       ---------       ---------       ---------       ---------
                                                         419,143         116,557         703,574         192,852
                                                       ---------       ---------       ---------       ---------

LOSS FROM PARTNERSHIP OPERATIONS                        (283,801)        (62,837)       (606,176)       (153,833)
                                                       ---------       ---------       ---------       ---------

EQUITY IN INCOME OF LIMITED
      PARTNERSHIPS AND AMORTIZATION
      OF ACQUISITION COSTS                                36,000          12,000          39,000          13,000

DISTRIBUTIONS FROM LIMITED
      PARTNERSHIPS RECOGNIZED AS
      INCOME (Note 2)                                     14,777              --          51,057           5,444
                                                       ---------       ---------       ---------       ---------

NET LOSS                                               $(233,024)      $ (50,837)      $(516,119)      $(135,389)
                                                       =========       =========       =========       =========

NET LOSS PER LIMITED PARTNERSHIP
     INTEREST (Note 1)                                 $     (14)      $      (3)      $     (31)      $      (8)
                                                       =========       =========       =========       =========
</TABLE>



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



                                       2
<PAGE>   5

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                   CONSOLIDATED STATEMENTS OF PARTNERS' EQUITY
                  FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000
                                   (Unaudited)



<TABLE>
<CAPTION>
                                         General        Limited
                                        Partners        Partners         Total
                                       ---------       ---------       ---------
<S>                                    <C>             <C>             <C>
PARTNERSHIP INTERESTS                                     16,810
                                                       =========


DEFICIENCY,
     January 1, 2000                   $(347,864)      $ 680,389       $ 332,525

     Net loss for the nine months
     ended September 30, 2000             (2,330)       (230,694)       (233,024)
                                       ---------       ---------       ---------

DEFICIENCY,
     September 30, 2000                $(350,194)      $ 449,695       $  99,501
                                       =========       =========       =========
</TABLE>



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



                                       3
<PAGE>   6

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
              FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
                                   (Unaudited)


<TABLE>
<CAPTION>
                                                                            2000              1999
                                                                        -----------       -----------
<S>                                                                     <C>               <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
      Net loss                                                          $  (233,024)      $  (516,119)
      Adjustments to reconcile net loss to net
         cash used in operating activities:
            Equity in income of limited partnerships
                  and amortization of acquisition costs                     (36,000)          (39,000)
            Depreciation and amortization                                        --                --
            Decrease (increase) in other assets                             239,770           (20,100)
            Increase in accrued interest payable                             87,466           102,600
            Increase (decrease) in accounts payable                           6,032          (206,922)
                                                                        -----------       -----------

               Net cash provided by (used in) operating activities           64,244          (679,541)
                                                                        -----------       -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
      Capital contribution                                                 (120,411)               --
      Distributions from limited partnerships recognized
         as a return of capital                                              14,680            38,414
      Sales proceeds                                                             --         1,397,081
                                                                        -----------       -----------

               Net cash (used in) provided by investing activities         (105,731)        1,435,495
                                                                        -----------       -----------

CASH FLOWS FROM FINANCING ACTIVITIES:
      Distributions to partners                                                  --        (2,797,081)
                                                                        -----------       -----------

NET DECREASE IN CASH AND CASH EQUIVALENTS                                   (41,487)       (2,041,127)

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                            3,312,395         5,477,969
                                                                        -----------       -----------

CASH AND CASH EQUIVALENTS, END OF PERIOD                                $ 3,270,908       $ 3,436,842
                                                                        ===========       ===========

SUPPLEMENTAL DISCLOSURE OF
SUPPLEMENTAL CASH FLOW INFORMATION:
      Cash paid during the period for interest                          $    15,134       $        --
                                                                        ===========       ===========
</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

                               SEPTEMBER 30, 2000


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, 1999 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 September 30, 2000 and the results of operations
        for the nine and three months then ended and changes in cash flows for
        the nine 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 95.25% 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.

        BASIS OF PRESENTATION

        The accompanying financial statements have been prepared in conformity
        with accounting principles generally in the United States of America.



                                       5
<PAGE>   8

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                               SEPTEMBER 30, 2000


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

        PRINCIPLES OF CONSOLIDATION

        The consolidated financial statements include the accounts of Real
        Estate Associates Limited VI and its majority-owned general partnership.
        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 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.

        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.

        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.

        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.



                                       6
<PAGE>   9

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                               SEPTEMBER 30, 2000


NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

        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 September 30, 2000, 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 of September 30, 2000,
        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.

        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.




                                       7
<PAGE>   10

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                               SEPTEMBER 30, 2000


NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIP (CONTINUED)

         The following is a summary of the investment in unconsolidated limited
         partnerships for the nine months ended September 30, 2000:

         <TABLE>
         <S>                                                                     <C>
         Balance, beginning of period                                            $ 509,999
         Capital contribution                                                      120,411
         Equity in income of limited partnerships                                   39,000
         Distribution recognized as a return of capital                            (14,680)
         Amortization of acquisition costs                                          (3,000)
                                                                                 ---------

                                                                                 $ 651,730
         Balance, end of period                                                  =========
         </TABLE>

         The following are unaudited combined estimated statements of operations
         for the nine and three months ended September 30, 2000 and 1999 of the
         unconsolidated limited partnerships in which the Partnership has
         investments:

         <TABLE>
         <CAPTION>
                                      Nine months       Three months      Nine months       Three months
                                         ended              ended            ended             ended
                                    Sept. 30, 2000     Sept. 30, 2000    Sept. 30, 1999    Sept. 30, 1999
                                    --------------     --------------    --------------    --------------
         <S>                        <C>                <C>               <C>               <C>
         REVENUES:
              Rental and other        $ 7,446,000       $ 2,482,000       $ 7,434,000       $ 2,478,000
                                      -----------       -----------       -----------       -----------

         EXPENSES:
              Depreciation              1,202,000           401,000         1,476,000           492,000
              Interest                  2,006,000           669,000         2,058,000           686,000
              Operating expenses        4,558,000         1,519,000         4,344,000         1,448,000
                                      -----------       -----------       -----------       -----------

              Total expenses            7,766,000         2,589,000         7,878,000         2,626,000
                                      -----------       -----------       -----------       -----------

                      Net loss        $  (320,000)      $  (107,000)      $  (444,000)      $  (148,000)
                                      ===========       ===========       ===========       ===========
         </TABLE>




                                       8
<PAGE>   11

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                               SEPTEMBER 30, 2000


NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIP (CONTINUED)

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

        Under recently 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 under
        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 may be the case under existing HAP
        Contracts. The payments under the renewed HAP Contracts may not 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.

        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.



                                       9
<PAGE>   12

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                               SEPTEMBER 30, 2000


NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIP (CONTINUED)

        On December 30, 1998, after obtaining the consents of the limited
        partners, the Partnership sold its limited partnership interests in 10
        local limited partnerships and its general partner interest in one local
        general partnership to subsidiaries of Casden Properties Inc. The sale
        resulted in cash proceeds to the Partnership of $1,397,081 which was
        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.

NOTE 3 - 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
        percent per annum and have principal maturities ranging from December
        1999 to December 2012.

        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.

        A note and the related accrued interest payable, aggregating $1,306,038
        became payable in 1999.

        Management is in the process of attempting to negotiate an extension of
        the maturity date on the past due note payable.



                                       10
<PAGE>   13

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                               SEPTEMBER 30, 2000


NOTE 4 - 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 $155,000 and $333,000 for the nine months ended September
        30, 2000 and 1999, respectively.

        The Partnership reimburses NAPICO for certain expenses. The
        reimbursement to NAPICO was approximately $16,000 and $31,000 for the
        nine months ended September 30, 2000 and 1999, respectively, and is
        included in general and administrative expenses.

NOTE 5 - 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 the Partnership 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 subsidiaries of
        Casden Properties Inc. The plaintiffs seek equitable relief, as well as
        compensatory damages and litigation related costs. On August 4, 1999,
        one investor holding one unit of limited partnership interest in Housing
        Programs Limited (another affiliate partnership in which NAPICO is the
        managing general partner) commenced a virtually identical action in the
        United States District Court for the Central District of California
        against the Partnership, NAPICO and certain other affiliated entities.
        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 actions vigorously.




                                       11
<PAGE>   14

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                               SEPTEMBER 30, 2000


NOTE 5 - CONTINGENCIES (CONTINUED)

        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.

NOTE 6 - 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 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 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.



                                       12
<PAGE>   15

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                               SEPTEMBER 30, 2000


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 distribution to
        investors on March 12, 1999, 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



                                       13
<PAGE>   16

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                               SEPTEMBER 30, 2000


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

        RESULTS OF OPERATIONS (CONTINUED)

        projects. Available cash is invested in these funds earning interest
        income as reflected in the statement of operations. These funds can be
        converted to cash to meet obligations as they arise.

        Under recently 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 under
        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 may be the case under existing HAP
        Contracts. The payments under the renewed HAP Contracts may not 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.

        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.



                                       14
<PAGE>   17

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                               SEPTEMBER 30, 2000


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

        RESULTS OF OPERATIONS (CONTINUED)

        On December 30, 1998, after obtaining the consents of the limited
        partners, the Partnership sold its limited partnership interests in 10
        local limited partnerships and its general partner interest in one local
        general partnership to subsidiaries of Casden Properties Inc. The sale
        resulted in cash proceeds to the Partnership of $1,397,081 which was
        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.

        A note and the related accrued interest payable, aggregating $1,306,038
        became payable in 1999.

        Management is in the process of attempting to negotiate an extension of
        the maturity date on the past due note payable.



                                       15
<PAGE>   18

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                               SEPTEMBER 30, 2000


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 the
Partnership 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 CPI Affiliates. The plaintiffs seek
equitable relief, as well as compensatory damages and litigation related costs.
On August 4, 1999, one investor holding one unit of limited partnership interest
in Housing Programs Limited (another affiliated partnership in which NAPICO is
the managing general partner) commenced a virtually identical action in the
United States District Court for the Central District of California against the
Partnership, NAPICO and certain other affiliated entities. 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 actions
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 6 of
                regulation S-K and no reports on Form 8-K were filed during the
                quarter ended September 30, 2000.



                                       16
<PAGE>   19

                        REAL ESTATE ASSOCIATES LIMITED VI
                             (A LIMITED PARTNERSHIP)

                               SEPTEMBER 30, 2000


                                   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.,
                          its General Partner



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



                                       Date:    November 14, 2000
                                            ------------------------------------



                                       By:  /s/ BRIAN H. SHUMAN
                                          --------------------------------------
                                          Brian H. Shuman
                                          Chief Financial Officer



                                       Date:    November 14, 2000
                                            ------------------------------------



                                       17