<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, 2001

                         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, 2001


<TABLE>
<S>                                                                                           <C>
PART I. FINANCIAL INFORMATION

        Item 1.  Financial Statements

                 Consolidated Balance Sheets,
                       March 31, 2001 and December 31, 2000 .............................      1

                 Consolidated Statements of Operations,
                       Three Months Ended, March 31, 2001 and 2000.......................      2

                 Consolidated Statement of Partners' Deficiency
                       Three Months Ended March 31, 2001 ................................      3

                 Consolidated Statements of Cash Flows
                       Three Months Ended March 31, 2001 and 2000 .......................      4

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

        Item 2.  Management's Discussion and Analysis of Financial
                       Condition and Results of Operation ...............................     11


PART II. OTHER INFORMATION

        Item 1.  Legal Proceedings ......................................................     13

        Item 6.  Exhibits and Reports on Form 8-K .......................................     13

        Signatures ......................................................................     14
</TABLE>


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

                                 BALANCE SHEETS

                      MARCH 31, 2001 AND DECEMBER 31, 2000

                                     ASSETS

<TABLE>
<CAPTION>
                                                                                 2001                  2000
                                                                              (Unaudited)            (Audited)
                                                                              -----------           -----------
<S>                                                                           <C>                   <C>
INVESTMENTS IN LIMITED PARTNERSHIPS (Note 2)                                  $   553,072           $   541,072

CASH AND CASH EQUIVALENTS (Note 1)                                              3,013,759             3,197,380
                                                                              -----------           -----------

          TOTAL ASSETS                                                        $ 3,566,831           $ 3,738,452
                                                                              ===========           ===========


                      LIABILITIES AND PARTNERS' DEFICIENCY

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)                                    2,099,001             2,064,801
    Accounts payable                                                               17,253                16,429
                                                                              -----------           -----------

                                                                                3,881,254             3,846,230
                                                                              -----------           -----------

COMMITMENTS AND CONTINGENCIES (Notes 2, 4 and 5)

PARTNERS' EQUITY (DEFICIENCY):
    General partners                                                             (354,333)             (352,267)
    Limited partners                                                               39,910               244,489
                                                                              -----------           -----------

                                                                                 (314,423)             (107,778)
                                                                              -----------           -----------

           TOTAL LIABILITIES AND PARTNERS' DEFICIENCY                         $ 3,566,831           $ 3,738,452
                                                                              ===========           ===========
</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, 2001 AND 2000
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                2001               2000
                                                             ---------           ---------
<S>                                                          <C>                 <C>
INTEREST AND OTHER INCOME                                    $  40,738           $  38,285
                                                             ---------           ---------

OPERATING EXPENSES:
         Management fees - general partner (Note 4)             51,608              51,608
         General and administrative (Note 4)                    41,647              57,707
         Interest (Note 3)                                      34,200              34,200
                                                             ---------           ---------
                                                               127,455             143,515
                                                             ---------           ---------

LOSS FROM PARTNERSHIP OPERATIONS                               (86,717)           (105,230)
                                                             ---------           ---------

EQUITY IN INCOME OF LIMITED
      PARTNERSHIPS AND AMORTIZATION
      OF ACQUISITION COSTS (Note 2)                             12,000              12,000

WRITE-OFF OF ADVANCES TO PARTNERSHIPS (Note 2)                (131,928)                 --
                                                             ---------           ---------

NET LOSS                                                     $(206,645)          $ (93,230)
                                                             =========           =========

NET LOSS PER LIMITED PARTNERSHIP
     INTEREST (Note 1)                                       $     (12)          $      (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, 2001
                                   (Unaudited)

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

EQUITY (DEFICIENCY),
       January 1, 2001                        $(352,267)          $ 244,489           $(107,778)

       Net loss for the three months
       ended March 31, 2001                      (2,066)           (204,579)           (206,645)
                                              ---------           ---------           ---------

EQUITY (DEFICIENCY),
       March 31, 2001                         $(354,333)          $  39,910           $(314,423)
                                              =========           =========           =========
</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, 2001 AND 2000
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                                    2001                  2000
                                                                 -----------           -----------
<S>                                                              <C>                   <C>
CASH FLOWS FROM OPERATING ACTIVITIES:
      Net  loss                                                  $  (206,645)          $   (93,230)
      Adjustments to reconcile net loss to net
         cash used in operating activities:
            Equity in income of limited partnerships
                  and amortization of acquisition costs              (12,000)              (12,000)
            Increase in accrued interest payable                      34,200                19,066
            Increase in due from NAPICO                                   --               (20,408)
            Increase (decrease) in accounts payable                      824                (1,128)
                                                                 -----------           -----------

               Net cash used in operating activities                (183,621)             (107,700)
                                                                 -----------           -----------

CASH FLOWS FROM INVESTING ACTIVITIES:
      Capital contributions                                               --               (22,010)
                                                                 -----------           -----------

               Net cash used in invested activities                       --               (22,010)
                                                                 -----------           -----------


NET DECREASE IN CASH AND CASH EQUIVALENTS                           (183,621)             (129,710)

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD                     3,197,380             3,312,395
                                                                 -----------           -----------

CASH AND CASH EQUIVALENTS, END OF PERIOD                         $ 3,013,759           $ 3,182,685
                                                                 ===========           ===========
</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, 2001


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, 2000 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, 2001 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 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.

       BASIS OF PRESENTATION

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

       USE OF ESTIMATES

       The preparation of financial statements in conformity with accounting
       principles generally accepted in the United States of America 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.


                                       5
<PAGE>   8

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                 MARCH 31, 2001

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

       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.

       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 period. 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

       As of March 31, 2001, the Partnership holds limited partnership interests
       in 20 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 March 31, 2001, 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.


                                       6
<PAGE>   9

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                 MARCH 31, 2001

NOTE 2 - INVESTMENTS IN LIMITED PARTNERSHIP (CONTINUED)

       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.

       The following is a summary of the investment in unconsolidated limited
       partnerships for the three months ended March 31, 2001:

<TABLE>
<S>                                                      <C>
       Balance, beginning of period                      $ 541,072
       Equity in income of limited partnerships             13,000
       Amortization of acquisition costs                    (1,000)
                                                         ---------

       Balance, end of period                            $ 553,072
                                                         =========
</TABLE>

       The following are unaudited combined estimated statements of operations
       for the three months ended March 31, 2001 and 2000 of the unconsolidated
       limited partnerships in which the Partnership has investments:

<TABLE>
<CAPTION>
                                Three months          Three months
                                   ended                 ended
                               March 31, 2001        March 31, 2000
                               --------------        --------------
<S>                            <C>                   <C>
Revenues:
    Rental and other            $ 2,474,000           $ 2,482,000
                                -----------           -----------

Expenses:
    Depreciation                    403,000               401,000
    Interest                        647,000               669,000
    Operating expenses            1,534,000             1,519,000
                                -----------           -----------

Total expenses                    2,584,000             2,589,000
                                -----------           -----------

         Net loss               $  (110,000)          $  (107,000)
                                ===========           ===========
</TABLE>


                                       7
<PAGE>   10

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                 MARCH 31, 2001

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 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 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.

       On December 30, 1998, after obtaining the consents of the limited
       partners, the Partnership sold its limited partnership interests in 10
       local limited partnerships to affiliates 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.


                                       8
<PAGE>   11

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                 MARCH 31, 2001

NOTE 3 - NOTES PAYABLE AND AMOUNTS DUE FOR PARTNERSHIP INTERESTS

       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. Notes payable and related accrued interest payable
       aggregating $1,330,738 became payable on December 31, 2000. Management is
       in process of attempting to negotiate extensions of the maturity dates on
       these notes payable.

       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.

       Maturity dates of the notes payable and related accrued interest are as
       follows:

<TABLE>
<CAPTION>
                                                                           Accrued
       Years Ending December 31,                   Notes                  Interest
       -------------------------                -----------             -----------
<S>                                             <C>                     <C>
          2001                                  $   520,000             $   810,738
          2002                                        --                      --
          2003                                        --                      --
          2004                                        --                      --
          2005                                      750,000                 929,521
       Thereafter                                   170,000                 358,742
                                                -----------             -----------

                                                $ 1,440,000             $ 2,099,001
                                                ===========             ===========
</TABLE>

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 $52,000 and $52,000 for the three months ended March 31,
       2001 and 2000, respectively.

       The Partnership reimburses NAPICO for certain expenses. The reimbursement
       to NAPICO was approximately $5,700 and $10,000 for the three months ended
       March 31, 2001 and 2000, respectively, and is included in general and
       administrative expenses.


                                       9
<PAGE>   12

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

             NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

                                 MARCH 31, 2001

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 affiliates of Casden Properties Inc., organized by
       an affiliate of NAPICO. 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 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 second
       action has been subsumed in the first action, which has been certified as
       a class action. 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 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 and amounts due for partnership
       interests are collateralized by the Partnership's investments in investee
       limited partnerships and are payable only out of cash distributions from
       investee partnerships. The operations generated by the investee limited
       partnerships, which account for the Partnership's primary source of
       revenues, are subject to various government rules, regulations and
       restrictions which make it impracticable to estimate the fair value of
       the notes and related accrued interest payable. 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.


                                       10
<PAGE>   13

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                 MARCH 31, 2001

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 in March 31, 1999, previously using proceeds from the
       disposition of its investments in certain limited partnerships.

       RESULTS OF OPERATIONS

       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.

       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 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


                                       11
<PAGE>   14

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                 MARCH 31, 2001

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

       RESULTS OF OPERATIONS (CONTINUED)

       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.

       On December 30, 1998, after obtaining the consents of the limited
       partners, the Partnership sold its limited partnership interests in 10
       local limited partnerships to affiliates of Casden Properties Inc. The
       sale resulted in cash proceeds to the Partnership of $1,397,081, which
       was collected in 1999. In March 2000, 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.

       Notes payable and related accrued interest payable aggregating $1,330,738
       became payable on December 31, 2000. Management is in process of
       attempting to negotiate extensions of the maturity dates on these notes
       payable.


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<PAGE>   15

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                 MARCH 31, 2001

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 affiliates of Casden Properties Inc.,
organized by an affiliate of NAPICO. 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 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 second action has been
subsumed in the first action, which has been certified as a class action. 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
              March 31, 2001.


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<PAGE>   16

                        REAL ESTATE ASSOCIATES LIMITED VI
                       (A CALIFORNIA LIMITED PARTNERSHIP)

                                 MARCH 31, 2001

                                   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 15, 2001
                                      ----------------------------------------


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


                                 Date:  MAY 15, 2001
                                      ----------------------------------------


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