FORM 10-QSB--QUARTERLY OR TRANSITIONAL REPORT UNDER SECTION 13 OR 15(d) OF
                     THE SECURITIES EXCHANGE ACT OF 1934
                        Quarterly or Transitional Report



                   U.S. Securities and Exchange Commission
                             Washington, D.C. 20549


                                   Form 10-QSB


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


                For the quarterly period ended March 31, 2002


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


             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


a)

             OXFORD RESIDENTIAL PROPERTIES I LIMITED PARTNERSHIP

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

                                 March 31, 2002
<TABLE>
<CAPTION>


Assets
<S>                                                                            <C>
  Cash and cash equivalents                                                    $   954
  Receivables and deposits                                                         735
  Restricted escrows                                                               538
  Other assets                                                                     294
  Investment properties:
   Land                                                         $ 3,681
   Buildings and related personal property                        42,041
                                                                  45,722
   Less accumulated depreciation                                 (21,491)       24,231
                                                                              $ 26,752
Liabilities and Partners' (Deficit) Capital
Liabilities
  Accounts payable                                                              $ 96
  Tenant security deposits                                                         148
  Accrued property taxes                                                           342
  Other liabilities                                                                386
  Due to general partner                                                         1,507
  Mortgage notes payable                                                        19,263

Partners' (Deficit) Capital
  General partners                                               $ (950)
  Assignor limited partner                                             1
  Assignee unit holders (23,558 units outstanding)                 5,959         5,010
                                                                              $ 26,752

         See Accompanying Notes to Consolidated Financial Statements

</TABLE>
<PAGE>
b)

             OXFORD RESIDENTIAL PROPERTIES I LIMITED PARTNERSHIP

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
                     (in thousands, except per unit data)
<TABLE>
<CAPTION>

                                                               Three Months Ended
                                                                    March 31,
                                                               2002          2001
Revenues:
<S>                                                           <C>           <C>
  Rental income                                               $ 1,935       $ 2,091
  Other income                                                    158           117
      Total revenues                                            2,093         2,208

Expenses:
  Operating                                                       878           815
  General and administrative                                       22            33
  Depreciation                                                    485           318
  Interest                                                        410           427
  Property taxes                                                  229           224
      Total expenses                                            2,024         1,817

Income before cumulative effect                                    69           391
Cumulative effect on prior years of a change in
  accounting principle for the cost of capital
  improvements and replacements                                    --         1,120

Net income                                                     $ 69         $ 1,511

Net income allocated to general partners (2%)                   $ 1          $ 30

Net income allocated to assignee unit holders (98%)                68         1,481

                                                               $ 69         $ 1,511
Per assignee unit:
  Income before cumulative effect                             $ 2.89        $ 16.26
  Cumulative effect on prior years of a change in
   accounting principle for the cost of capital
   improvements and replacements                                   --         46.61

Net income                                                    $ 2.89        $ 62.87

Proforma amounts assuming the new accounting principle
 was applied retroactively:
   Net income                                                  $ 69          $ 391
   Net income per limited partnership unit                    $ 2.89        $ 16.26

Distributions per limited partnership unit                    $ 15.07        $ --

         See Accompanying Notes to Consolidated Financial Statements

</TABLE>
<PAGE>
c)

             OXFORD RESIDENTIAL PROPERTIES I LIMITED PARTNERSHIP

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

<TABLE>
<CAPTION>
                                                        Limited Partners' Interests

                                                          Assignor       Assignee
                                  Assignee    General     Limited          Unit
                                    Units    Partners     Partner        Holders       Total

Partners' (deficit) capital
<S>           <C> <C>              <C>        <C>           <C>          <C>          <C>
  at December 31, 2001             23,558     $ (951)       $ 1          $ 6,246      $ 5,296

Distributions to partners              --         --           --           (355)        (355)

Net income for the three
  months ended March 31, 2002          --          1           --             68           69

Partners' (deficit) capital
  at March 31, 2002                23,558     $ (950)       $ 1          $ 5,959      $ 5,010

         See Accompanying Notes to Consolidated Financial Statements
</TABLE>
<PAGE>
d)
             OXFORD RESIDENTIAL PROPERTIES I LIMITED PARTNERSHIP

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

                                                                 Three Months Ended
                                                                       March 31,
                                                                  2002        2001
Cash flows from operating activities:
<S>                                                               <C>        <C>
  Net income                                                      $ 69       $ 1,511
  Adjustments to reconcile net income to net cash provided
   by operating activities:
     Depreciation                                                   485          318
     Amortization of loan costs                                      18           16
     Cumulative effect on prior years of a change in
      accounting principle for the costs of capital
      improvements and replacements                                  --       (1,120)
     Changes in accounts:
      Receivables and deposits                                     (126)        (148)
      Other assets                                                  (82)          68
      Accounts payable                                             (147)          82
      Tenant security deposits payable                              (22)          (1)
      Due to general partner                                         57           38
      Accrued property taxes                                        186          141
      Other liabilities                                             152           13
          Net cash provided by operating activities                 590          918

Cash flows from investing activities:
  Property improvements and replacements                           (155)        (310)
  Net withdrawals from (deposits to) restricted escrows               3           (4)
          Net cash used in investing activities                    (152)        (314)

Cash flows from financing activities:
  Payments on mortgage notes payable                               (130)        (120)
  Distributions to partners                                        (355)      (1,150)
  Advance from general partner                                       --           80
          Net cash used in financing activities                    (485)      (1,190)

Net decrease in cash and cash equivalents                           (47)        (586)
Cash and cash equivalents at beginning of period                  1,001        1,599

Cash and cash equivalents at end of period                       $ 954       $ 1,013

Supplemental disclosure of cash flow information:
  Cash paid for interest                                         $ 399        $ 409

At December 31, 2000, distributions of approximately $1,150,000 were accrued and
paid in 2001.

         See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<PAGE>
e)

             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 months ended
March 31,  2002,  are not  necessarily  indicative  of the  results  that may be
expected for the fiscal year ending December 31, 2002. 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, 2001.  The Managing  General  Partner is a subsidiary  of Apartment
Investment  and  Management  Company  ("AIMCO"),  a publicly  traded real estate
investment trust.

Certain  reclassifications  have been made to the 2001 amounts to conform to the
2002 presentation.

Note B - Transactions with Affiliates

The Partnership has no directors or officers.  The Managing  General Partner and
its affiliates do not receive any direct compensation,  but receive fees and are
reimbursed  by ORP  for  any  actual  direct  costs  and  expenses  incurred  in
connection with the operation of the Partnership.

Expense  reimbursements are for an affiliate's  personnel costs, travel expenses
and  interest  on  interim  working  capital  advances,  which  are not  covered
separately by fees. Total reimbursements to the Managing General Partner and its
affiliates  for both of the three month  periods  ended March 31, 2002 and 2001,
were approximately $11,000.

During the three  months  ended March 31,  2002,  an  affiliate  of the Managing
General Partner received  approximately $10,000 for fees related to construction
management  services.  The construction  management  service fees are calculated
based on a percentage of current year additions to the investment properties.

Under  the  Property  Management  Agreement  with NHP  Management  Company,  the
management fee is equal to 5% of gross collections for all properties;  however,
40% of this fee is subordinated until certain distribution  preference levels to
the Limited  Partners or Assignee  Unit  Holders are  achieved.  Total  property
management  fees of  approximately  $112,000  and  $106,000 for the three months
ended March 31,  2002 and 2001,  respectively,  were  charged to expense and are
included in  operating  expense on the  consolidated  statement  of  operations.
Property  management  fees of  approximately  $43,000 for the three month period
ended  March 31,  2002 have been  deferred  and are  included in "Due to General
Partner" on the accompanying consolidated balance sheet.

Beginning in 2001, the  Partnership  began insuring 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 three months ended
March 31, 2002 and 2001, the Partnership was charged by AIMCO and its affiliates
approximately  $116,000 and $123,000,  respectively,  for insurance coverage and
fees associated with policy claims administration.

Note C - Change in Accounting Principle

Effective  January 1, 2001,  the four  properties  comprising  the ORP portfolio
changed their thresholds for capitalizing expenditures for certain enhancements,
replacements and  improvements to the investment real estate,  and changed their
method of accounting to capitalize  expenditures  for certain  replacements  and
improvements,  such as asphalt paving,  major landscaping,  common area interior
and exterior  painting.  Management  believes  that these  accounting  principle
changes are preferable  because they provide a better  matching of expenses with
the  related  benefit  of the  expenditures  and are  consistent  with  industry
practice and policies of the Managing General  Partner.  In the first quarter of
2001, ORP recognized a cumulative effect adjustment of approximately $1,120,000,
which is the  result  of  applying  the  afore-mentioned  change  in  accounting
principles retroactively to prior periods. The accounting principle changes will
not have an  effect on cash  flow,  funds  available  for  distribution  or fees
payable to the Managing General Partner and affiliates.

Note D - Casualty Event

The Landings  Apartments  suffered damage from a fire in April 2001. Repair work
has been completed,  however,  the cost of the repairs is being disputed between
the contractor and the insurance company.  The Partnership is unable to estimate
the reimburseable cost of the repairs or the insurance proceeds to ultimately be
received  as of March 31,  2002 and,  therefore,  the  Partnership  is unable to
estimate any gain or loss relating to this casualty.  The consolidated financial
statements do not include any adjustments which might result from the outcome of
this contingency.
<PAGE>
ITEM 2.     MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

The  matters  discussed  in this Form  10-QSB  contain  certain  forward-looking
statements  and  involve  risks and  uncertainties  (including  changing  market
conditions,   competitive  and  regulatory   matters,   etc.)  detailed  in  the
disclosures  contained  in this  Form  10-QSB  and the  other  filings  with the
Securities and Exchange Commission made by the Registrant from time to time. The
discussions of the  Registrant's  business and results of operations,  including
forward-looking  statements  pertaining  to such  matters,  does not  take  into
account the effects of any changes to the  Registrant's  business and results of
operations.  Accordingly,  actual  results  could differ  materially  from those
projected in the forward-looking  statements as a result of a number of factors,
including those identified herein.

This item should be read in  conjunction  with  financial  statements  and other
items contained elsewhere in this report.

The Partnership's investment properties consist of four apartment complexes. The
following table sets forth the average occupancy of the properties for the three
months ended March 31, 2002 and 2001:

                                                   Average Occupancy
      Property                                      2002       2001

      The Landings Apartments                       91%        90%
        Indianapolis, Indiana
      Shadow Oaks Apartments                        92%        92%
        Tampa, Florida
      Raven Hill Apartments (1)                     92%        99%
        Burnsville, Minnesota
      Fairlane East Apartments (2)                  86%        97%
        Dearborn, Michigan

(1)   The Managing General Partner  attributes the decrease in average occupancy
      at Raven Hill Apartments to an increase in apartment units in the area.

(2)   The Managing General Partner  attributes the decrease in average occupancy
      at Fairlane  East  Apartments  to job  layoffs by a major  employer in the
      area.

Results of Operations

The  Partnership's  net income for the three  months  ended  March 31,  2002 was
approximately  $69,000  compared to net income for the three  months ended March
31, 2001 of  approximately  $1,511,000.  The decrease in net income is primarily
due to the  recognition  of  approximately  $1,120,000  in 2001 of a  cumulative
effect on prior years of a change in accounting principle as discussed below.

Income  before the  cumulative  effect on prior years of a change in  accounting
principle  was  approximately  $69,000 and  $391,000  for the three months ended
March 31, 2002 and 2001,  respectively.  The decrease in income is primarily due
to a decrease in total revenues and an increase in total expenses.

The decrease in total  revenues is primarily  due to a decrease in rental income
partially  offset by an increase in other income.  The decrease in rental income
is  primarily  due to a  decrease  in  occupancy  at Raven Hill  Apartments  and
Fairlane  East  Apartments  and a decrease in the average  rental rate at Shadow
Oaks Apartments. The increase in other income is primarily due to an increase in
utilities  reimbursements at all of the Partnership's  investment properties and
an increase in late  charges at three of the  properties  partially  offset by a
decrease in interest income due to lower balances on deposit in interest bearing
accounts at all properties.

The increase in total  expenses is primarily due to an increase in  depreciation
expense due to new assets being placed into service  during the previous  twelve
months.

Effective  January 1, 2001,  the four  properties  comprising  the ORP portfolio
changed its thresholds for capitalizing  expenditures for certain  enhancements,
replacements and  improvements to the investment real estate,  and changed their
method of accounting to capitalize  expenditures  for certain  replacements  and
improvements,  such as asphalt paving,  major landscaping,  common area interior
and exterior  painting.  Management  believes  that these  accounting  principle
changes are preferable  because they provide a better  matching of expenses with
the  related  benefit  of the  expenditures  and are  consistent  with  industry
practice and policies of the Managing General  Partner.  In the first quarter of
2001, ORP recognized a cumulative effect adjustment of approximately $1,120,000,
which is the  result  of  applying  the  afore-mentioned  change  in  accounting
principles retroactively to prior periods. The accounting principle changes will
not have an  effect on cash  flow,  funds  available  for  distribution  or fees
payable to the Managing General Partner and affiliates.

As part of the ongoing  business plan of the  Partnership,  the General  Partner
monitors the rental market  environment 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  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, due to changing market conditions,  which
can  result in the use of rental  concessions  and rental  reductions  to offset
softening market conditions, there is no guarantee that the General Partner will
be able to sustain such a plan.

Liquidity and Capital Resources

At  March  31,  2002,  the  Partnership   had  cash  and  cash   equivalents  of
approximately  $954,000 compared to approximately  $1,013,000 at March 31, 2001.
The decrease in cash and cash  equivalents  for the three months ended March 31,
2002 from the  Partnership's  year ended  December  31,  2001 was  approximately
$47,000.  This  decrease  is due to  approximately  $485,000  of  cash  used  in
financing  activities  and  approximately  $152,000  of cash  used in  investing
activities  partially  offset by  approximately  $590,000  of cash  provided  by
operating   activities.   Cash  used  in  financing   activities   consisted  of
distributions  paid to the  partners  and  principal  payments on the  mortgages
encumbering  the  investment  properties.  Cash  used  in  investing  activities
consisted  of  capital  improvements  and  replacements  slightly  offset by net
withdrawals  from  restricted  escrows  maintained by the mortgage  lender.  The
Partnership invests its working capital 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.  Capital improvements planned
for each of the Partnership's properties are detailed below.

The Landings Apartments

Approximately $55,000 has been budgeted for 2002 for capital improvements at The
Landings Apartments consisting primarily of floor covering replacements, heating
and air conditioning replacements and structural improvements.  During the three
months ended March 31, 2002, the Partnership completed  approximately $35,000 of
capital  improvements   consisting  primarily  of  floor  covering  replacement,
interior  decoration and plumbing  improvements.  These improvements were funded
from operating  cash flow.  Additional  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

Approximately  $121,000 has been budgeted for 2002 for capital  improvements  at
Shadow Oaks  Apartments  consisting  primarily of floor  covering  replacements,
appliances,  sprinkler  system,  water heaters,  air conditioning  replacements,
light fixtures and structural improvements.  During the three months ended March
31,  2002,  the   Partnership   completed   approximately   $44,000  of  capital
improvements  consisting  primarily  of major  landscaping  and  floor  covering
replacement.  These  improvements  were  funded  from  operating  cash  flow and
replacement reserves.  Additional 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.

Raven Hill Apartments

Approximately  $121,000 has been budgeted for 2002 for capital  improvements  at
Raven Hill Apartments consisting primarily of floor covering  replacements,  air
conditioning replacements,  appliances and fire safety enhancements.  During the
three months  ended March 31,  2002,  the  Partnership  completed  approximately
$38,000  of  capital   improvements   consisting  primarily  of  floor  covering
replacement,  appliances and electrical breakers. These improvements were funded
from operating  cash flow.  Additional  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

Approximately  $153,000 has been budgeted for 2002 for capital  improvements  at
Fairlane East Apartments  consisting  primarily of floor covering  replacements,
appliances,   electrical  upgrades,   fire  safety  enhancement  and  structural
improvements.  During the three  months ended March 31,  2002,  the  Partnership
completed  approximately $38,000 of capital improvements consisting primarily of
floor covering replacement, drapes and miniblinds and interior decoration. These
improvements were funded from operating cash flow.  Additional  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.

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  currently  thought  to be  sufficient  for  any
near-term needs  (exclusive of capital  improvements)  of the  Partnership.  The
mortgage indebtedness of approximately  $19,263,000 is amortized over 120 months
with required  balloon  payments due in 2004. The Managing  General Partner will
attempt to refinance such indebtedness  and/or sell the properties prior to such
maturity date. If the  properties  cannot be refinanced or sold for a sufficient
amount, the Partnership will risk losing the properties through foreclosure.

The Partnership  distributed the following amounts during the three months ended
March 31, 2002 and 2001 (in thousands, except per unit data):

                  Three Months     Per Limited      Three Months     Per Limited
                     Ended         Partnership         Ended         Partnership
                 March 31, 2002        Unit        March 31, 2001        Unit

Operations           $ 355            $15.07            $ --             $ --

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 year 2002 or subsequent periods.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership, AIMCO and its affiliates currently own 13,077 Assignee Units in the
Partnership  representing  approximately  55.51% of the outstanding units. It is
possible that AIMCO or its affiliates will acquire additional Assignee Units for
cash or in  exchange  for units in the  operating  partnership  of AIMCO  either
through private purchases or tender offers. Under the terms of ORP's Partnership
Agreement,  limited  partners  holding  a  majority  of the  Assignee  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  approximately
55.51% of the outstanding  Assignee Units, AIMCO is in a position to control all
such voting decisions with respect to the  Partnership.  When voting on matters,
AIMCO would in all likelihood  vote the Units it acquired in a manner  favorable
to the interest of the Managing  General Partner because of its affiliation with
the Managing General Partner.

                           PART II - OTHER INFORMATION


ITEM 3.     EXHIBITS AND REPORTS ON FORM 8-K

            a)    Exhibits:

                  None.

            b)    Reports on Form 8-K filed in the first quarter of 2002:

                  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/Patrick J. Foye
                                    Patrick J. Foye
                                    Executive Vice President


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


                              Date: