United States
                       Securities and Exchange Commission
                             Washington, D.C. 20549


                                   Form 10-QSB


(Mark One)
[X]   QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
      ACT OF 1934


                For the quarterly period ended June 30, 2004


[ ]   TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT


            For the transition period from _________to _________

                         Commission file number 0-14533


            OXFORD RESIDENTIAL  PROPERTIES I LIMITED  PARTNERSHIP
       (Exact name of small business issuer as specified in its charter)



          Maryland                                                52-1322906
(State or other jurisdiction of                                (I.R.S. Employer
 incorporation or organization)                              Identification No.)

                          55 Beattie Place, PO Box 1089
                        Greenville, South Carolina 29602
                    (Address of principal executive offices)


                                 (864) 239-1000
                           (Issuer's telephone number)


Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 12 months (or for such shorter
period that the  registrant  was required to file such reports) and (2) has been
subject to such filing requirements for the past 90 days.
Yes  X   No ___


<PAGE>



                         PART I - FINANCIAL INFORMATION



ITEM 1.     FINANCIAL STATEMENTS




            OXFORD RESIDENTIAL PROPERTIES I LIMITED PARTNERSHIP

                           CONSOLIDATED BALANCE SHEET
                                   (Unaudited)
                        (in thousands, except unit data)

                                  June 30, 2004

<TABLE>
<CAPTION>

Assets
<S>                                                                            <C>
  Cash and cash equivalents                                                    $ 318
  Receivables and deposits                                                         231
  Restricted escrows                                                               109
  Other assets                                                                     712
  Investment properties:
   Land                                                         $ 2,722
   Buildings and improvements                                     34,977
                                                                  37,699
   Less accumulated depreciation                                 (20,303)       17,396
                                                                              $ 18,766
Liabilities and Partners' (Deficiency) Capital
Liabilities
  Accounts payable                                                             $ 259
  Tenant security deposits                                                         123
  Accrued taxes                                                                    284
  Other liabilities                                                                236
  Due to Managing General Partner (Note B)                                          48
  Mortgage notes payable                                                        26,178

Partners' (Deficiency) Capital
  General partners                                              $ (2,200)
  Assignor limited partner                                             1
  Assignee unit holders (23,558 units outstanding)                (6,163)       (8,362)
                                                                              $ 18,766


        See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<PAGE>

            OXFORD RESIDENTIAL PROPERTIES I LIMITED PARTNERSHIP

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
                      (in thousands, except per unit data)

<TABLE>
<CAPTION>

                                                  Three Months Ended         Six Months Ended
                                                       June 30,                  June 30,
                                                  2004          2003         2004        2003
                                                             (Restated)               (Restated)
Revenues:
<S>                                              <C>          <C>          <C>         <C>
  Rental income                                  $ 1,486      $ 1,543      $ 2,952     $ 3,014
  Other income                                       133          112          269         323
  Casualty gains (Note E)                             35           38           35          38
      Total revenues                               1,654        1,693        3,256       3,375

Expenses:
  Operating                                          848          934        1,474       1,666
  General and administrative                          57           22           96          70
  Depreciation                                       363          377          722         757
  Interest                                           285          271          570         603
  Property taxes                                     175          213          368         550
       Total expenses                              1,728        1,817        3,230       3,646

(Loss) income from continuing operations             (74)        (124)          26        (271)
Income (loss) from discontinued operations
  (Note C)                                            --           64         (166)         74
Gain on sale of discontinued operations
  (Note C)                                           108           --        3,700          --

Net income (loss)                                 $ 34         $ (60)      $ 3,560      $ (197)

Net loss allocated to general partners            $ (1)         $ (1)        $ (3)       $ (4)
Net income (loss) allocated to limited
  partners                                            35          (59)       3,563        (193)

                                                  $ 34         $ (60)      $ 3,560      $ (197)
Per assignee unit:
  Loss from continuing operations                  (3.09)       (5.15)        1.08      (11.27)
  Income (loss) from discontinued
   operations                                         --         2.65        (6.90)       3.08
  Gain on sale of discontinued operations           4.58           --       157.06          --

Net income (loss)                                $ 1.49       $ (2.50)     $151.24     $ (8.19)

Distributions per assignee unit                  $ 6.37       $395.36      $182.40     $446.81

        See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<PAGE>


            OXFORD RESIDENTIAL PROPERTIES I LIMITED PARTNERSHIP

          CONSOLIDATED STATEMENT OF PARTNERS' (DEFICIENCY) CAPITAL
                                   (Unaudited)
                        (in thousands, except unit data)

<TABLE>
<CAPTION>

                                  Assignee    General       Assignor        Assignee
                                    Units    Partners   Limited Partner   Unit Holders     Total

Partners' (deficiency) capital
<S>           <C> <C>               <C>       <C>             <C>           <C>           <C>
  at December 31, 2003              23,558    $(2,197)        $ 1           $(5,429)      $(7,625)

Distributions to partners               --         --            --          (4,297)       (4,297)

Net income for the six
  months ended June 30, 2004            --         (3)           --           3,563         3,560

Partners' (deficiency) capital
  at June 30, 2004                  23,558    $(2,200)        $ 1           $(6,163)      $(8,362)


        See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<PAGE>

            OXFORD RESIDENTIAL PROPERTIES I LIMITED PARTNERSHIP

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                 (in thousands)
<TABLE>
<CAPTION>

                                                                     Six Months Ended
                                                                         June 30,
                                                                     2004         2003
Cash flows from operating activities:
<S>                                                                 <C>          <C>
  Net income (loss)                                                 $ 3,560      $ (197)
  Adjustments to reconcile net income (loss) to net cash
   provided by operating activities:
     Depreciation                                                       722          919
     Amortization of loan costs                                          15           29
     Gain on sale of discontinued operations                         (3,700)          --
     Casualty gain                                                      (35)         (38)
     Loss on early extinguishment of debt                                85            6
     Changes in assets and liabilities:
      Receivables and deposits                                           96          450
      Other assets                                                      (87)        (171)
      Accounts payable                                                   99          109
      Tenant security deposits                                          (39)           8
      Due to Managing General Partner                                  (338)      (1,382)
      Accrued property tax                                               57          327
      Other liabilities                                                (123)         (24)
          Net cash provided by operating activities                     312           36

Cash flows from investing activities:
  Property improvements and replacements                               (221)        (256)
  Net withdrawals from restricted escrows                                 5          230
  Net proceeds from sale of discontinued operations                   8,199           --
  Insurance proceeds received                                            44           48
          Net cash provided by investing activities                   8,027           22

Cash flows from financing activities:
  Payments on mortgage notes payable                                   (462)        (200)
  Repayment of mortgage notes payable                                (4,052)     (15,726)
  Distributions to partners                                          (4,297)     (10,526)
  Loan costs paid                                                        --         (514)
  Proceeds from mortgage notes payable                                   --       27,060
  Advances from affiliate                                                --          385
  Repayment of advance from affiliate                                    --         (385)
          Net cash (used in) provided by financing activities        (8,811)          94

Net (decrease) increase in cash and cash equivalents                   (472)         152
Cash and cash equivalents at beginning of period                        790        1,413

Cash and cash equivalents at end of period                           $ 318       $ 1,565

Supplemental disclosure of cash flow information:
  Cash paid for interest                                             $ 607        $ 672

Supplemental disclosure of non-cash flow information:
  Property improvements and replacements in accounts payable         $ 94         $ --

        See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<PAGE>
            OXFORD RESIDENTIAL PROPERTIES I LIMITED PARTNERSHIP

                 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


Note A - Financial Statements

The  accompanying   unaudited   consolidated   financial  statements  of  Oxford
Residential  Properties I Limited  Partnership (the "Partnership" or "ORP") have
been prepared in accordance with generally  accepted  accounting  principles for
interim financial  information and with the instructions to Form 10-QSB and Item
310(b)  of  Regulation  S-B.  Accordingly,  they  do  not  include  all  of  the
information and footnotes required by generally accepted  accounting  principles
for  complete  financial  statements.  In  the  opinion  of  Oxford  Residential
Properties I Corporation  (the  "Managing  General  Partner"),  all  adjustments
(consisting  of  normal  recurring  accruals)  considered  necessary  for a fair
presentation have been included.  Operating results for the three and six months
ended June 30, 2004, are not  necessarily  indicative of the results that may be
expected for the fiscal year ending December 31, 2004. For further  information,
refer to the consolidated financial statements and footnotes thereto included in
the  Partnership's  Annual  Report on Form  10-KSB  for the  fiscal  year  ended
December 31, 2003.  The  Managing  General  Partner is an affiliate of Apartment
Investment  and  Management  Company  ("AIMCO"),  a publicly  traded real estate
investment trust.

In accordance with Statement of Financial Accounting Standards ("SFAS") No. 144,
the  accompanying  consolidated  statements of operations  for the three and six
months  ended June 30,  2003 have been  restated to reflect  the  operations  of
Shadow Oaks Apartments as income (loss) from discontinued  operations due to its
sale in January 2004.

Note B - Transactions with Affiliates

The  Partnership  has no employees  and is  dependent  on the  Managing  General
Partner  and  its  affiliates  for  the  management  and  administration  of all
Partnership  activities.  The Partnership Agreement provides for (i) payments to
affiliates  for  property  management  services  and (ii) for  reimbursement  of
certain expenses incurred by affiliates on behalf of the Partnership.

During the six months ended June 30, 2004 and 2003,  affiliates  of the Managing
General  Partner were  entitled to receive 5% of gross  receipts from all of the
Partnership's  properties  as  compensation  for providing  property  management
services.  However,  40% of this fee is subordinated until certain  distribution
preference  levels to the Assignee  Unit Holders are  achieved.  Total  property
management fees of approximately  $193,000 and $234,000 for the six months ended
June 30, 2004 and 2003,  respectively,  were charged to expense and are included
in  operating  expense and income  (loss) from  discontinued  operations  on the
consolidated statements of operations. Property management fees of approximately
$77,000  and  $94,000  for  the  six  months  ended  June  30,  2004  and  2003,
respectively, have been deferred. During the six months ended June 30, 2004, the
distribution  preferences  were met with the sale of Shadow Oaks  Apartments and
approximately  $323,000  of the  previously  subordinated  fees were  paid.  The
cumulative  deferred  management fees as of June 30, 2004 totaled  approximately
$45,000.

An  affiliate  of  the  Managing  General  Partner  received  reimbursements  of
accountable  administrative  expenses  amounting  to  approximately  $76,000 and
$48,000 for the six months ended June 30, 2004 and 2003, respectively,  which is
included  in  general  and  administrative   expenses.  As  of  June  30,  2004,
approximately  $3,000  in  accountable  administrative  expenses  were due to an
affiliate of the Managing General Partner.

In accordance with the Partnership  Agreement,  during the six months ended June
30, 2003, the Managing  General Partner advanced  approximately  $385,000 to the
Partnership  to cover  fees  associated  with the  refinancings  of three of the
investment  properties.  The entire  amount was repaid  during the same  period.
Interest  was charged at the prime rate plus 2% and  amounted  to  approximately
$3,000 for the six months ended June 30, 2003.

In connection with the May 2003  refinancings of Fairlane East, The Landings and
Raven Hill  Apartments,  the  Partnership  paid  approximately  $135,000  to the
Managing General Partner as allowed pursuant to the Partnership Agreement. These
amounts are recorded as loan costs and included in other assets.  The loan costs
are amortized over the lives of the respective mortgages.

The  Partnership  insures its properties up to certain  limits through  coverage
provided by AIMCO which is  generally  self-insured  for a portion of losses and
liabilities  related to workers  compensation,  property  casualty  and  vehicle
liability. The Partnership insures its properties above the AIMCO limits through
insurance  policies  obtained  by  AIMCO  from  insurers  unaffiliated  with the
Managing  General  Partner.  During the six months ended June 30, 2004 and 2003,
the  Partnership was charged by AIMCO and its affiliates  approximately  $89,000
and $136,000,  respectively,  for insurance  coverage and fees  associated  with
policy claims administration.

Note C - Sale of Investment Property

In January 2004, the  Partnership  sold Shadow Oaks Apartments to a third party,
for net proceeds of approximately $8,199,000 after payment of closing costs. The
Partnership  used  approximately  $4,052,000  of the net  proceeds  to repay the
mortgage   encumbering  the  property.   The  Partnership  realized  a  gain  of
approximately  $3,700,000 as a result of the sale. In addition,  the Partnership
recorded a loss on early  extinguishment  of debt of approximately  $85,000 as a
result of  unamortized  loan costs being written off which is included in income
(loss) from discontinued operations. Included in income (loss) from discontinued
operations  for the six  months  ended June 30,  2004 and 2003 is  approximately
$67,000 and $664,000, respectively, of revenue generated by the property.

Note D - Refinancing of Mortgage Notes Payable

On May 8, 2003, the  Partnership  refinanced the mortgage  encumbering  Fairlane
East  Apartments.  The refinancing  replaced the first mortgage of approximately
$8,578,000 with a new mortgage of $11,480,000. The new mortgage carries a stated
interest rate of 4.21%  compared to the 8.25% interest rate on the old mortgage.
Principal and interest payments on the mortgage of approximately $71,000 are due
monthly  until the loan  matures in May 2023 at which time the loan is scheduled
to be fully amortized. Total capitalized loan costs were approximately $187,000.

On May 8, 2003, the Partnership refinanced the mortgage encumbering The Landings
Apartments.  The  refinancing  replaced  the  first  mortgage  of  approximately
$2,828,000 with a new mortgage of $3,370,000.  The new mortgage carries a stated
interest rate of 4.21%  compared to the 8.25% interest rate on the old mortgage.
Principal and interest payments on the mortgage of approximately $21,000 are due
monthly  until  June  2008 at which  time a  balloon  payment  of  approximately
$2,772,000  will  be  due.  Total  capitalized  loan  costs  were  approximately
$101,000.  The Partnership  recognized a loss on early extinguishment of debt of
approximately $6,000 due to the write-off of unamortized loan costs. This amount
is included in interest expense.

Note D - Refinancing of Mortgage Notes Payable (continued)

On May 8, 2003, the Partnership  refinanced the mortgage  encumbering Raven Hill
Apartments.  The  refinancing  replaced  the  first  mortgage  of  approximately
$4,320,000 with a new mortgage of $12,210,000. The new mortgage carries a stated
interest rate of 4.21%  compared to the 8.25% interest rate on the old mortgage.
Principal and interest payments on the mortgage of approximately $75,000 are due
monthly  until  June  2008 at which  time a  balloon  payment  of  approximately
$10,083,000  will  be due.  Total  capitalized  loan  costs  were  approximately
$226,000.

Note E -Casualty Gain

In March 2004,  Fairlane East Apartments  incurred damages to its buildings as a
result of a fire. During the six months ended June 30, 2004, net fixed assets of
approximately $9,000 were written off and proceeds of approximately $44,000 were
received from the insurance company to repair the damaged units. Accordingly,  a
casualty  gain of  approximately  $35,000  was  recognized  as a  result  of the
difference between the proceeds received and the net book value of the buildings
which were damaged.

In April 2001, The Landings  Apartments  incurred  damages to its buildings as a
result of a fire.  During 2002, net fixed assets of  approximately  $62,000 were
written off and  proceeds  of  approximately  $300,000  were  received  from the
insurance company to repair the damaged units.  Accordingly,  a casualty gain of
approximately  $238,000 was recognized as a result of the difference between the
proceeds  received and the net book value of the  buildings  which were damaged.
During the six months ended June 30, 2003, the Partnership  received  additional
proceeds of approximately $48,000 and wrote off additional  undepreciated assets
of approximately  $10,000.  As a result,  the Partnership  recognized a casualty
gain of approximately $38,000 during the six months ended June 30, 2003.

Note F - Contingencies

On August 8, 2003 AIMCO  Properties  L.P., an affiliate of the Managing  General
Partner,  was served  with a  complaint  in the United  States  District  Court,
District of Columbia alleging that AIMCO Properties L.P.  willfully violated the
Fair Labor Standards Act ("FLSA") by failing to pay maintenance workers overtime
for all hours  worked in excess of forty per week.  On March 5, 2004  Plaintiffs
filed an amended complaint also naming NHP Management Company,  which is also an
affiliate  of the  Managing  General  Partner.  The  complaint  is  styled  as a
Collective  Action  under  the FLSA and seeks to  certify  state  subclasses  in
California, Maryland, and the District of Columbia. Specifically, the plaintiffs
contend that AIMCO Properties L.P. failed to compensate  maintenance workers for
time  that they were  required  to be  "on-call".  Additionally,  the  complaint
alleges AIMCO  Properties  L.P.  failed to comply with the FLSA in  compensating
maintenance  workers  for time that they  worked in  responding  to a call while
"on-call".  The defendants have filed an answer to the amended complaint denying
the  substantive  allegations.  Some  discovery  has taken place and  settlement
negotiations  continue.  Although the outcome of any  litigation  is  uncertain,
AIMCO  Properties,  L.P. does not believe that the ultimate  outcome will have a
material  adverse  effect on its  financial  condition or results of  operations
taken as a whole. Similarly,  the Managing General Partner does not believe that
the ultimate  outcome will have a material  adverse effect on the  Partnership's
financial condition or results of operations taken as a whole.

The  Partnership  is unaware of any pending or  outstanding  litigation  matters
involving  it or its  investment  properties  that are not of a  routine  nature
arising in the ordinary course of business.

As  previously  disclosed,  the  Central  Regional  Office of the United  States
Securities and Exchange  Commission is conducting an  investigation  relating to
certain  matters.  AIMCO  believes the areas of  investigation  include  AIMCO's
miscalculated   monthly  net  rental  income  figures  in  third  quarter  2003,
forecasted  guidance,  accounts payable,  rent concessions,  vendor rebates, and
capitalization of expenses and payroll.  AIMCO is cooperating  fully. AIMCO does
not believe that the ultimate outcome will have a material adverse effect on its
consolidated  financial  condition  or results of  operations  taken as a whole.
Similarly,  the  Managing  General  Partner  does not believe  that the ultimate
outcome will have a material  adverse effect on the  Partnership's  consolidated
financial condition or results of operations taken as a whole.

ITEM 2.     MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

The matters discussed in this report contain certain forward-looking statements,
including, without limitation, statements regarding future financial performance
and the effect of government  regulations.  Actual results may differ materially
from those described in the forward-looking statements and will be affected by a
variety of risks and factors including,  without limitation:  national and local
economic  conditions;  the terms of  governmental  regulations  that  affect the
Registrant and interpretations of those regulations; the competitive environment
in which the Registrant operates;  financing risks, including the risk that cash
flows from operations may be insufficient to meet required payments of principal
and interest;  real estate risks, including variations of real estate values and
the general  economic  climate in local markets and  competition  for tenants in
such markets;  litigation,  including  costs  associated  with  prosecuting  and
defending  claims  and  any  adverse   outcomes,   and  possible   environmental
liabilities.   Readers  should  carefully  review  the  Registrant's   financial
statements and the notes thereto,  as well as the risk factors  described in the
documents  the  Registrant  files  from  time to time  with the  Securities  and
Exchange Commission.

The Partnership's  investment  properties consist of three apartment  complexes.
The following  table sets forth the average  occupancy of the properties for the
six months ended June 30, 2004 and 2003:

                                                   Average Occupancy
      Property                                      2004       2003

      The Landings Apartments                       88%        88%
        Indianapolis, Indiana
      Raven Hill Apartments                         91%        89%
        Burnsville, Minnesota
      Fairlane East Apartments (1)                  84%        88%
        Dearborn, Michigan

(1)   The Managing General Partner  attributes the decrease in average occupancy
      at Fairlane East Apartments to increased credit standards for tenants.

The  Partnership's  financial  results  are  dependent  upon a number of factors
including  the  ability  to  attract  and  maintain  tenants  at the  investment
properties,  interest  rates on mortgage  loans,  costs  incurred to operate the
investment  properties,  general economic conditions and weather. As part of the
ongoing business plan of the Partnership,  the Managing General Partner monitors
the rental market environment of each of its investment properties to assess the
feasibility of increasing rents,  maintaining or increasing occupancy levels and
protecting the Partnership from increases in expenses. As part of this plan, the
Managing  General Partner attempts to protect the Partnership from the burden of
inflation-related  increases in expenses by increasing  rents and  maintaining a
high overall  occupancy  level.  However,  the Managing  General Partner may use
rental  concessions  and  rental  rate  reductions  to offset  softening  market
conditions, accordingly, there is no guarantee that the Managing General Partner
will be able to sustain  such a plan.  Further,  a number of  factors  which are
outside the control of the  Partnership  such as the local economic  climate and
weather can adversely or positively impact the Partnership's financial results.

Results of Operations

The  Partnership's  net income  for the three  months  ended  June 30,  2004 was
approximately  $34,000  compared  to net loss of  approximately  $60,000 for the
corresponding  period in 2003. The  Partnership's  net income for the six months
ended  June  30,  2004  was  approximately  $3,560,000  compared  to net loss of
approximately $197,000 for the corresponding period in 2003. The decrease in net
loss for the three and six months  ended June 30, 2004 is  primarily  due to the
recognition of the gain on the sale of Shadow Oaks Apartments in 2004.

In accordance with Statement of Financial Accounting Standards ("SFAS") No. 144,
the  accompanying  consolidated  statements of operations  for the three and six
months  ended June 30,  2003 have been  restated to reflect  the  operations  of
Shadow Oaks Apartments as income (loss) from discontinued  operations due to its
sale in January 2004.

In January 2004, the  Partnership  sold Shadow Oaks Apartments to a third party,
for net proceeds of approximately $8,199,000 after payment of closing costs. The
Partnership  used  approximately  $4,052,000  of the net  proceeds  to repay the
mortgage   encumbering  the  property.   The  Partnership  realized  a  gain  of
approximately  $3,700,000 as a result of the sale. In addition,  the Partnership
recorded a loss on early  extinguishment  of debt of approximately  $85,000 as a
result of  unamortized  loan costs being written off which is included in income
(loss) from discontinued operations. Included in income (loss) from discontinued
operations  for the six  months  ended June 30,  2004 and 2003 is  approximately
$67,000 and $664,000, respectively, of revenue generated by the property.

Excluding the  discontinued  operations and the gain on sale, the  Partnership's
loss from  continuing  operations  for the three  months ended June 30, 2004 was
approximately   $74,000   compared  to  loss  from   continuing   operations  of
approximately  $124,000  for the  corresponding  period in 2003.  Excluding  the
discontinued  operations  and the gain on sale,  the  Partnership's  income from
continuing  operations for the six months ended June 30, 2004 was  approximately
$26,000 compared to loss from continuing  operations of  approximately  $271,000
for the  corresponding  period in 2003.  The  decrease  in loss from  continuing
operations for the three and six months ended June 30, 2004 is due to a decrease
in total expenses partially offset by a decrease in total revenues.

Total  expenses  for the  three  month  period  decreased  due to  decreases  in
operating,  depreciation and property tax expenses partially offset by increases
in general and administrative and interest expenses.  Total expenses for the six
month period decreased due to decreases in operating, depreciation, interest and
property  tax  expenses   partially   offset  by  an  increase  in  general  and
administrative  expenses.  Operating  expenses for both periods decreased due to
decreased advertising, administrative, and maintenance expenses partially offset
by an increase in  property  expenses.  Advertising  expenses  decreased  due to
decreases in newspaper  advertising  at Fairlane East  Apartments and in leasing
promotions at Raven Hill Apartments.  Administrative  expenses  decreased due to
decreased legal fees and taxes at Raven Hill  Apartments.  Maintenance  expenses
decreased due to decreased contract labor at all of the Partnership's investment
properties.  Property  expenses  increased due to increased  utility expenses at
Raven Hill  Apartments  and increased  payroll and related  benefits at Fairlane
East  Apartments.  Depreciation  expense  for the three  and six  month  periods
decreased due to assets at the investment properties becoming fully depreciated.
Interest  expense for the three months ended June 30, 2004  increased  due to an
increase  in  interest  expense at Raven Hill  Apartments  which was caused by a
higher mortgage  balance that offset the lower interest rate obtained for all of
the  investment  properties  in the May 2003  refinancings.  This  increase  was
partially  offset by decreases in interest  expense at The Landings and Fairlane
East  Apartments due to the lower interest rates.  Interest  expense for the six
months  ended  June 30,  2004  decreased  due to lower  interest  expense at The
Landings and Fairlane East Apartments  which was partially offset by an increase
in  interest  expense at Raven Hill  Apartments.  Property  tax expense for both
periods  decreased  due to an  adjustment of property tax accruals in 2003 for a
change in the  methodology for accruing taxes for the  Partnership's  investment
property located in Michigan.

General  and  administrative  expenses  for  both  periods  increased  due to an
increase in the management  reimbursements  to the Managing  General  Partner as
allowed under the Partnership  Agreement.  In addition to these  reimbursements,
costs associated with the quarterly and annual communications with investors and
regulatory  agencies and the annual audit required by the Partnership  Agreement
are also included in general and administrative expenses.

Total revenues  decreased for the three month period due to a decrease in rental
income partially offset by an increase in other income. Total revenues decreased
for the six month  period due to decreases  in rental and other  income.  Rental
income for both periods  decreased due to decreased  average rental rates at all
of the Partnership's  investment  properties and decreased occupancy at Fairlane
East  Apartments  partially  offset by an  increase in  occupancy  at Raven Hill
Apartments  and a  decrease  in bad  debt  expense  at  all  of  the  investment
properties. Other income for the three month period increased due to an increase
in charges and fees at Raven Hill Apartments. Other income decreased for the six
month period due to decreased late charges and lease cancellation fees at all of
the  Partnership's  properties  partially  offset  by  an  increase  in  utility
reimbursements at Raven Hill and Fairlane East Apartments.

In March 2004,  Fairlane East Apartments  incurred damages to its buildings as a
result of a fire. During the six months ended June 30, 2004, net fixed assets of
approximately $9,000 were written off and proceeds of approximately $44,000 were
received from the insurance company to repair the damaged units. Accordingly,  a
casualty  gain of  approximately  $35,000  was  recognized  as a  result  of the
difference between the proceeds received and the net book value of the buildings
which were damaged.

In April 2001, The Landings  Apartments  incurred  damages to its buildings as a
result of a fire.  During 2002, net fixed assets of  approximately  $62,000 were
written off and  proceeds  of  approximately  $300,000  were  received  from the
insurance company to repair the damaged units.  Accordingly,  a casualty gain of
approximately  $238,000 was recognized as a result of the difference between the
proceeds  received and the net book value of the  buildings  which were damaged.
During the six months ended June 30, 2003, the Partnership  received  additional
proceeds of approximately $48,000 and wrote off additional  undepreciated assets
of approximately  $10,000.  As a result,  the Partnership  recognized a casualty
gain of $38,000 during the six months ended June 30, 2003.

Liquidity and Capital Resources

At June 30, 2004, the Partnership had cash and cash equivalents of approximately
$318,000  compared to  approximately  $1,565,000  at June 30, 2003.  For the six
months ended June 30, 2004, cash and cash  equivalents  decreased  approximately
$472,000.  The  decrease in cash and cash  equivalents  is due to  approximately
$8,811,000   of  cash  used  in  financing   activities   partially   offset  by
approximately   $8,027,000  of  cash  provided  by  investing   activities   and
approximately  $312,000 of cash provided by operating activities.  Net cash used
in financing activities consisted of distributions to partners, the repayment of
the mortgage encumbering Shadow Oaks Apartments and scheduled principal payments
on the mortgages encumbering the Partnership's  investment properties.  Net cash
provided by investing  activities  consisted  of the  proceeds  from the sale of
Shadow Oaks  Apartments,  insurance  proceeds from the casualty at Fairlane East
Apartments  and  net  withdrawals  from  restricted  escrows  maintained  by the
mortgage lenders partially offset by property improvements and replacements. The
Partnership invests its working capital reserves in interest bearing accounts.

The sufficiency of existing  liquid assets to meet future  liquidity and capital
expenditure   requirements   is  directly   related  to  the  level  of  capital
expenditures  required at the  properties  to  adequately  maintain the physical
assets and other  operating needs of the Partnership and to comply with Federal,
state, and local legal and regulatory requirements. The Managing General Partner
monitors  developments  in the  area of legal  and  regulatory  compliance.  For
example,  the  Sarbanes-Oxley  Act  of  2002  mandates  or  suggests  additional
compliance  measures  with  regard to  governance,  disclosure,  audit and other
areas.  In light of these changes,  the  Partnership  expects that it will incur
higher expenses related to compliance, including increased legal and audit fees.
Capital  improvements  planned  for  each of the  Partnership's  properties  are
detailed below.

The Landings Apartments

During  the  six  months  ended  June  30,  2004,  the   Partnership   completed
approximately  $58,000  of  capital  improvements  at The  Landings  Apartments,
consisting primarily of structural improvements and floor covering,  cabinet and
appliance replacements. These improvements were funded from operating cash flow.
The Partnership  evaluates the capital  improvement needs of the property during
the year and  currently  expects to  complete an  additional  $24,000 in capital
improvements during the remainder of 2004.  Additional capital  improvements may
be considered and will depend on the physical  condition of the property as well
as the anticipated cash flow generated by the property.

Raven Hill Apartments

During  the  six  months  ended  June  30,  2004,  the   Partnership   completed
approximately  $140,000  of  capital  improvements  at  Raven  Hill  Apartments,
consisting primarily of structural improvements and door, window, floor covering
and appliance  replacements.  These improvements were funded from operating cash
flow. The Partnership  evaluates the capital  improvement  needs of the property
during the year and  currently  expects to  complete  an  additional  $28,000 in
capital   improvements   during  the  remainder  of  2004.   Additional  capital
improvements may be considered and will depend on the physical  condition of the
property as well as replacement  reserves and anticipated cash flow generated by
the property.

Fairlane East Apartments

During  the  six  months  ended  June  30,  2004,  the   Partnership   completed
approximately  $109,000 of capital  improvements  at Fairlane  East  Apartments,
consisting primarily of floor covering, appliance, window and HVAC replacements.
These improvements were funded from operating cash flow and insurance  proceeds.
The Partnership  evaluates the capital  improvement needs of the property during
the year and  currently  expects to  complete an  additional  $25,000 in capital
improvements during the remainder of 2004.  Additional capital  improvements may
be considered and will depend on the physical  condition of the property as well
as replacement reserves and anticipated cash flow generated by the property.

Shadow Oaks Apartments

During  the  six  months  ended  June  30,  2004,  the   Partnership   completed
approximately   $8,000  of  capital  improvements  at  Shadow  Oaks  Apartments,
consisting  primarily of floor covering  replacements.  These  improvements were
funded from  operating  cash flow.  Shadow Oaks  Apartments  was sold in January
2004.

The additional  capital  expenditures will be incurred only if cash is available
from operations or from Partnership  reserves.  To the extent that such budgeted
capital improvements are completed,  the Partnership's  distributable cash flow,
if any, may be adversely affected at least in the short term.

The  Partnership's  assets are thought to be sufficient for any near-term  needs
(exclusive  of  capital   improvements)   of  the   Partnership.   The  mortgage
indebtedness encumbering the investment properties of approximately  $26,178,000
is being  amortized  over 20 years and is  scheduled  to be fully  amortized  at
maturity in June 2023.

The Partnership  distributed  the following  amounts during the six months ended
June 30, 2004 and 2003 (in thousands, except per unit data):
<TABLE>
<CAPTION>

                                      Per Limited                        Per Limited
                  Six Months Ended    Partnership    Six Months Ended    Partnership
                    June 30, 2004         Unit         June 30, 2003         Unit

<S>  <C>               <C>              <C>                <C>               <C>
Sale (1)               $ 4,147          $176.03            $ --              $ --
Refinance (2)               --               --             9,314           395.36
Operations                 150             6.37             1,212            51.45
                       $ 4,297          $182.40           $10,526          $446.81
</TABLE>

(1)   Proceeds from the sale of Shadow Oaks Apartments in January 2004.

(2)   Proceeds  from the  refinancings  of  Fairlane  East,  Raven  Hill and The
      Landings Apartments in May 2003.

The  Partnership's  cash  available  for  distribution  is reviewed on a monthly
basis. Future cash distributions will depend on the levels of net cash generated
from  operations,  the  availability  of cash  reserves,  and the timing of debt
maturities,  refinancings  and/or  property  sales.  There can be no  assurance,
however,  that the Partnership  will generate  sufficient  funds from operations
after  required  capital  improvements  to permit further  distributions  to its
partners during the remainder of 2004 or subsequent periods.

Other

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates owned 13,802.00 limited partnership units
(the "Units") in the Partnership representing 58.59% of the outstanding Units at
June 30, 2004. A number of these Units were  acquired  pursuant to tender offers
made by AIMCO or its  affiliates.  It is possible  that AIMCO or its  affiliates
will acquire  additional Units in exchange for cash or a combination of cash and
units in AIMCO  Properties,  LP,  the  operating  partnership  of AIMCO,  either
through  private  purchases  or  tender  offers.  Pursuant  to  the  Partnership
Agreement,  unitholders  holding a majority  of the Units are  entitled  to take
action  with  respect to a variety  of matters  which  would  include  voting on
certain  amendments  to the  Partnership  Agreement  and  voting to  remove  the
Managing  General  Partner.  As a  result  of its  ownership  of  58.59%  of the
outstanding  Units,  AIMCO is in a position to control all such voting decisions
with respect to the  Partnership.  Although the  Managing  General  Partner owes
fiduciary  duties to the  limited  partners  of the  Partnership,  the  Managing
General Partner also owes fiduciary duties to AIMCO as its sole stockholder.  As
a result,  the duties of the  Managing  General  Partner,  as  managing  general
partner, to the Partnership and its limited partners may come into conflict with
the duties of the Managing General Partner to AIMCO, as its sole stockholder.

Critical Accounting Policies and Estimates

The consolidated financial statements are prepared in accordance with accounting
principles generally accepted in the United States which require the Partnership
to  make  estimates  and  assumptions.  The  Partnership  believes  that  of its
significant  accounting  policies,  the following may involve a higher degree of
judgment and complexity.

Impairment of Long-Lived Assets

Investment  properties  are  recorded at cost,  less  accumulated  depreciation,
unless  considered  impaired.  If  events  or  circumstances  indicate  that the
carrying  amount of a property may be  impaired,  the  Partnership  will make an
assessment of its  recoverability  by estimating  the  undiscounted  future cash
flows,  excluding  interest  charges,  of the property.  If the carrying  amount
exceeds the aggregate  future cash flows,  the  Partnership  would  recognize an
impairment  loss to the extent the carrying amount exceeds the fair value of the
property.

Real  property  investments  are  subject  to varying  degrees of risk.  Several
factors  may  adversely  affect  the  economic  performance  and  value  of  the
Partnership's investment properties.  These factors include, but are not limited
to,  changes  in the  national,  regional  and  local  economic  climate;  local
conditions,  such as an oversupply of multifamily  properties;  competition from
other available  multifamily property owners and changes in market rental rates.
Any adverse changes in these factors could cause impairment of the Partnership's
assets.

Revenue Recognition

The Partnership generally leases apartment units for twelve-month terms or less.
Rental income  attributable to leases is recognized monthly as it is earned. The
Partnership  evaluates all accounts receivable from residents and establishes an
allowance, after the application of security deposits, for accounts greater than
30 days past due on current tenants and all receivables due from former tenants.
The Partnership will offer rental concessions during particularly slow months or
in response to heavy  competition from other similar  complexes in the area. Any
concessions  given at the inception of the lease are amortized  over the life of
the lease.

ITEM 3.     CONTROLS AND PROCEDURES

(a) Disclosure Controls and Procedures.  The Partnership's management,  with the
participation of the principal executive officer and principal financial officer
of the Managing  General  Partner,  who are the equivalent of the  Partnership's
principal executive officer and principal financial officer,  respectively,  has
evaluated  the  effectiveness  of  the  Partnership's  disclosure  controls  and
procedures (as such term is defined in Rules  13a-15(e) and 15d-15(e)  under the
Securities  Exchange Act of 1934, as amended (the "Exchange Act")) as of the end
of the period covered by this report.  Based on such  evaluation,  the principal
executive  officer  and  principal  financial  officer of the  Managing  General
Partner, who are the equivalent of the Partnership's principal executive officer
and principal  financial officer,  respectively,  have concluded that, as of the
end of such period,  the  Partnership's  disclosure  controls and procedures are
effective.

(b) Internal Control Over Financial  Reporting.  There have not been any changes
in the Partnership's  internal control over financial reporting (as such term is
defined in Rules  13a-15(f)  and  15d-15(f)  under the Exchange  Act) during the
fiscal quarter to which this report relates that have  materially  affected,  or
are reasonably likely to materially affect,  the Partnership's  internal control
over financial reporting.

                           PART II - OTHER INFORMATION


ITEM 1.     LEGAL PROCEEDINGS

On August 8, 2003 AIMCO  Properties  L.P., an affiliate of the Managing  General
Partner,  was served  with a  complaint  in the United  States  District  Court,
District of Columbia alleging that AIMCO Properties L.P.  willfully violated the
Fair Labor Standards Act ("FLSA") by failing to pay maintenance workers overtime
for all hours  worked in excess of forty per week.  On March 5, 2004  Plaintiffs
filed an amended complaint also naming NHP Management Company,  which is also an
affiliate  of the  Managing  General  Partner.  The  complaint  is  styled  as a
Collective  Action  under  the FLSA and seeks to  certify  state  subclasses  in
California, Maryland, and the District of Columbia. Specifically, the plaintiffs
contend that AIMCO Properties L.P. failed to compensate  maintenance workers for
time  that they were  required  to be  "on-call".  Additionally,  the  complaint
alleges AIMCO  Properties  L.P.  failed to comply with the FLSA in  compensating
maintenance  workers  for time that they  worked in  responding  to a call while
"on-call".  The defendants have filed an answer to the amended complaint denying
the  substantive  allegations.  Some  discovery  has taken place and  settlement
negotiations  continue.  Although the outcome of any  litigation  is  uncertain,
AIMCO  Properties,  L.P. does not believe that the ultimate  outcome will have a
material  adverse  effect on its  financial  condition or results of  operations
taken as a whole. Similarly,  the Managing General Partner does not believe that
the ultimate  outcome will have a material  adverse effect on the  Partnership's
financial condition or results of operations taken as a whole.

ITEM 3.     EXHIBITS AND REPORTS ON FORM 8-K

            a)    Exhibits:

                  See Exhibit Index attached.

            b)    Reports on Form 8-K filed  during the  quarter  ended June 30,
                  2004:

                  None.




<PAGE>



                                   SIGNATURES



In accordance with the  requirements of the Exchange Act, the Registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.



                             OXFORD RESIDENTIAL PROPERTIES I LIMITED PARTNERSHIP


                              By:   Oxford Residential Properties I Corporation
                                    Managing General Partner


                               By:  /s/Martha L. Long
                                     Martha L. Long
                                     Senior Vice President


                               By:  /s/Stephen B. Waters
                                     Stephen B. Waters
                                     Vice President


                              Date: August 13, 2004



<PAGE>


                                  EXHIBIT INDEX

Exhibit     Description of Exhibit

 3.1        Amended  and  Restated   Agreement   and   Certificate   of  Limited
            Partnership   (incorporated   by  reference  to  Exhibit  A  of  the
            Prospectus of the Partnership, dated May 24, 1985).

10.5        Consolidated,  Amended and Restated  Multifamily Note dated November
            1, 2002  between  ORP IV  Limited  Partnership  and GMAC  Commercial
            Mortgage Corporation (incorporated by reference to the Annual Report
            on Form 10-KSB for the year ended December 31, 2002).

10.6        Consolidated,  Amended and Restated  Multifamily Note dated November
            1, 2002 between ORP Four  Limited  Partnership  and GMAC  Commercial
            Mortgage Corporation (incorporated by reference to the Annual Report
            on Form 10-KSB for the year ended December 31, 2002).

10.7        Guaranty dated November 1, 2002 by AIMCO  Properties,  L.P., for the
            benefit of GMAC Commercial  Mortgage  Corporation  (incorporated  by
            reference  to the  Annual  Report on Form  10-KSB for the year ended
            December 31, 2002).

10.8        Completion/Repair  and  Security  Agreement  dated  November 1, 2002
            between ORP Four Limited  Partnership and GMAC  Commercial  Mortgage
            Corporation for the benefit of GMAC Commercial Mortgage  Corporation
            (incorporated  by reference to the Annual  Report on Form 10-KSB for
            the year ended December 31, 2002).

10.9        Mortgage  dated  May 7,  2003  between  ORP One  L.L.C.  and  Golden
            American Life Insurance  Company  (incorporated  by reference to the
            Current Report on Form 8-K dated May 8, 2003).

10.10       Mortgage, Security Agreement, Financing Statement and Fixture Filing
            dated May 7, 2003 between ORP Two L.L.C.  and Golden  American  Life
            Insurance  Company  (incorporated by reference to the Current Report
            on Form 8-K dated May 8, 2003).

10.11       Mortgage, Security Agreement, Financing Statement and Fixture Filing
            dated May 7, 2003 between ORP Three L.L.C.  and Golden American Life
            Insurance  Company  (incorporated by reference to the Current Report
            on Form 8-K dated May 8, 2003).

10.12       Purchase and Sale Contract  between  Registrant and CNC Investments,
            Ltd., LLP, dated October 20, 2003  (incorporated by reference to the
            Current Report on Form 8-K dated January 30, 2004).

10.13       First Amendment to Purchase and Sale Contract between Registrant and
            CNC Investments,  Ltd., LLP, dated December 9, 2003 (incorporated by
            reference to the Current Report on Form 8-K dated January 30, 2004).

10.14       Second  Amendment to Purchase and Sale Contract  between  Registrant
            and  CNC   Investments,   Ltd.,   LLP,   dated   December  15,  2003
            (incorporated  by reference to the Current  Report on Form 8-K dated
            January 30, 2004).

10.15       Third Amendment to Purchase and Sale Contract between Registrant and
            CNC Investments, Ltd., LLP, dated December 30, 2003 (incorporated by
            reference to the Current Report on Form 8-K dated January 30, 2004).

10.16       Assignment and Assumption of Purchase and Sale Contract  between CNC
            Investments,  Ltd., LLP and Sandalwood  Limited  Partnership,  dated
            January 27, 2004 (incorporated by reference to the Current Report on
            Form 8-K dated January 30, 2004).

31.1        Certification  of equivalent of Chief Executive  Officer pursuant to
            Securities  Exchange  Act  Rules  13a-14(a)/15d-14(a),   as  Adopted
            Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2        Certification  of equivalent of Chief Financial  Officer pursuant to
            Securities  Exchange  Act  Rules  13a-14(a)/15d-14(a),   as  Adopted
            Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

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




<PAGE>



Exhibit 31.1


                                  CERTIFICATION


I, Martha L. Long, certify that:


1.    I have reviewed this quarterly report on Form 10-QSB of Oxford Residential
      Properties I Limited Partnership;

2.    Based on my knowledge,  this report does not contain any untrue  statement
      of a material fact or omit to state a material fact  necessary to make the
      statements made, in light of the circumstances under which such statements
      were made,  not  misleading  with  respect  to the period  covered by this
      report;

3.    Based on my  knowledge,  the  financial  statements,  and other  financial
      information  included  in this  report,  fairly  present  in all  material
      respects the financial condition,  results of operations and cash flows of
      the small  business  issuer as of, and for, the periods  presented in this
      report;

4.    The  small  business  issuer's  other  certifying  officer(s)  and  I  are
      responsible  for  establishing  and  maintaining  disclosure  controls and
      procedures (as defined in Exchange Act Rules  13a-15(e) and 15d-15(e)) for
      the small business issuer and have:

      (a)   Designed such  disclosure  controls and  procedures,  or caused such
            disclosure   controls  and  procedures  to  be  designed  under  our
            supervision,  to ensure that  material  information  relating to the
            small business issuer, including its consolidated  subsidiaries,  is
            made  known to us by  others  within  those  entities,  particularly
            during the period in which this report is being prepared;

      (b)   Evaluated  the   effectiveness   of  the  small  business   issuer's
            disclosure  controls and procedures and presented in this report our
            conclusions about the  effectiveness of the disclosure  controls and
            procedures, as of the end of the period covered by this report based
            on such evaluation; and

      (c)   Disclosed in this report any change in the small  business  issuer's
            internal  control over financial  reporting that occurred during the
            small  business  issuer's  most  recent  fiscal  quarter  (the small
            business  issuer's  fourth  fiscal  quarter in the case of an annual
            report) that has  materially  affected,  or is reasonably  likely to
            materially affect, the small business issuer's internal control over
            financial reporting; and

5.    The  small  business  issuer's  other  certifying  officer(s)  and I  have
      disclosed,  based on our most recent  evaluation of internal  control over
      financial reporting, to the small business issuer's auditors and the audit
      committee of the small  business  issuer's  board of directors (or persons
      performing the equivalent functions):

      (a)   All significant  deficiencies and material  weaknesses in the design
            or operation of internal control over financial  reporting which are
            reasonably  likely to adversely  affect the small business  issuer's
            ability  to  record,   process,   summarize  and  report   financial
            information; and

      (b)   Any fraud,  whether or not  material,  that  involves  management or
            other  employees who have a significant  role in the small  business
            issuer's internal control over financial reporting.


Date:  August 13, 2004

                                    /s/Martha L. Long
                                    Martha L. Long
                                    Senior Vice President of Oxford  Residential
                                    Properties I Corporation,  equivalent of the
                                    chief executive officer of the Partnership



<PAGE>



Exhibit 31.2


                                  CERTIFICATION


I, Stephen B. Waters, certify that:


1.    I have reviewed this quarterly report on Form 10-QSB of Oxford Residential
      Properties I Limited Partnership;

2.    Based on my knowledge,  this report does not contain any untrue  statement
      of a material fact or omit to state a material fact  necessary to make the
      statements made, in light of the circumstances under which such statements
      were made,  not  misleading  with  respect  to the period  covered by this
      report;

3.    Based on my  knowledge,  the  financial  statements,  and other  financial
      information  included  in this  report,  fairly  present  in all  material
      respects the financial condition,  results of operations and cash flows of
      the small  business  issuer as of, and for, the periods  presented in this
      report;

4.    The  small  business  issuer's  other  certifying  officer(s)  and  I  are
      responsible  for  establishing  and  maintaining  disclosure  controls and
      procedures (as defined in Exchange Act Rules  13a-15(e) and 15d-15(e)) for
      the small business issuer and have:

      (a)   Designed such  disclosure  controls and  procedures,  or caused such
            disclosure   controls  and  procedures  to  be  designed  under  our
            supervision,  to ensure that  material  information  relating to the
            small business issuer, including its consolidated  subsidiaries,  is
            made  known to us by  others  within  those  entities,  particularly
            during the period in which this report is being prepared;

      (b)   Evaluated  the   effectiveness   of  the  small  business   issuer's
            disclosure  controls and procedures and presented in this report our
            conclusions about the  effectiveness of the disclosure  controls and
            procedures, as of the end of the period covered by this report based
            on such evaluation; and

      (c)   Disclosed in this report any change in the small  business  issuer's
            internal  control over financial  reporting that occurred during the
            small  business  issuer's  most  recent  fiscal  quarter  (the small
            business  issuer's  fourth  fiscal  quarter in the case of an annual
            report) that has  materially  affected,  or is reasonably  likely to
            materially affect, the small business issuer's internal control over
            financial reporting; and

5.    The  small  business  issuer's  other  certifying  officer(s)  and I  have
      disclosed,  based on our most recent  evaluation of internal  control over
      financial reporting, to the small business issuer's auditors and the audit
      committee of the small  business  issuer's  board of directors (or persons
      performing the equivalent functions):

      (a)   All significant  deficiencies and material  weaknesses in the design
            or operation of internal control over financial  reporting which are
            reasonably  likely to adversely  affect the small business  issuer's
            ability  to  record,   process,   summarize  and  report   financial
            information; and

      (b)   Any fraud,  whether or not  material,  that  involves  management or
            other  employees who have a significant  role in the small  business
            issuer's internal control over financial reporting.


Date:  August 13, 2004

                                    /s/Stephen B. Waters
                                    Stephen B. Waters
                                    Vice  President  of  Oxford  Residential
                                    Properties I Corporation,  equivalent of
                                    the  chief  financial   officer  of  the
                                    Partnership


<PAGE>


Exhibit 32.1


                          Certification of CEO and CFO
                       Pursuant to 18 U.S.C. Section 1350,
                           As Adopted Pursuant to
               Section 906 of the Sarbanes-Oxley Act of 2002



In  connection  with the Quarterly  Report on Form 10-QSB of Oxford  Residential
Properties I Limited Partnership (the  "Partnership"),  for the quarterly period
ended June 30, 2004 as filed with the Securities and Exchange  Commission on the
date hereof  (the  "Report"),  Martha L. Long,  as the  equivalent  of the Chief
Executive  Officer of the Partnership,  and Stephen B. Waters, as the equivalent
of the Chief  Financial  Officer  of the  Partnership,  each  hereby  certifies,
pursuant to 18 U.S.C.  Section 1350,  as adopted  pursuant to Section 906 of the
Sarbanes-Oxley Act of 2002, that, to the best of his knowledge:

      (1)   The Report fully complies with the  requirements of Section 13(a) or
            15(d) of the Securities Exchange Act of 1934; and

      (2)   The  information  contained in the Report  fairly  presents,  in all
            material respects, the financial condition and results of operations
            of the Partnership.


                                           /s/Martha L. Long
                                    Name:  Martha L. Long
                                    Date:  August 13, 2004


                                           /s/Stephen B. Waters
                                    Name:  Stephen B. Waters
                                    Date:  August 13, 2004


This  certification is furnished with this Report pursuant to Section 906 of the
Sarbanes-Oxley  Act of 2002 and shall not be deemed filed by the Partnership for
purposes of Section 18 of the Securities Exchange Act of 1934, as amended.