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 September 30, 2001


[ ]   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)

                               September 30, 2001

<TABLE>
<CAPTION>

Assets
<S>                                                                           <C>
  Cash and cash equivalents                                                   $  1,164
  Tenant security deposits                                                         122
  Deferred costs, net of amortization of $2,775                                    142
  Other assets                                                                   1,292
  Investment properties:
   Land                                                         $ 3,681
   Buildings and improvements                                     41,309
                                                                  44,990
   Less accumulated depreciation                                 (20,499)       24,491
                                                                              $ 27,211
Liabilities and Partners' (Deficit) Capital
Liabilities
  Accounts payable and accrued expenses                                        $ 861
  Tenant security deposit liabilities                                              180
  Deferred property management fees                                              1,164
  Due to managing general partner                                                  200
  Mortgage notes payable                                                        19,520

Partners' (Deficit) Capital
  General partners                                               $ (951)
  Assignor limited partner                                             1
  Assignee unit holders (23,558 units outstanding)                 6,236         5,286
                                                                              $ 27,211

         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      Nine Months Ended
                                                    September 30,          September 30,
                                                 2001        2000        2001       2000
Revenues:
<S>                                             <C>        <C>         <C>         <C>
  Rental income                                 $ 2,006    $ 2,062     $ 6,194     $ 6,044
  Other income                                      137         99         414         286
      Total revenues                              2,143      2,161       6,608       6,330

Expenses:
  Operating                                         879        940       2,503       2,501
  Property taxes                                    241        214         694         619
  Interest                                          424        428       1,280       1,295
  Depreciation                                      456        382       1,211       1,029
  General and administrative                         42         48         113         134
       Total expenses                             2,042      2,012       5,801       5,578

Income before cumulative effect of a change in
  accounting principle                              101        149         807         752
Cumulative effect on prior years of a change
  in accounting for the cost of capital
  improvements and replacements                      --         --       1,120          --

Net income                                       $ 101      $ 149      $ 1,927      $ 752

Net income allocated to general partners (2%)      $ 2        $ 3         $ 39       $ 15
Net income allocated to limited partners (98%)      99        146       1,888         737

                                                 $ 101      $ 149      $ 1,927      $ 752
Per assignee unit:
  Income before cumulative effect of a change
   in accounting principle                      $ 4.20      $ 6.19     $ 33.53     $ 31.11
  Cumulative effect on prior years of a change
   in accounting for the cost of capital
   improvements and replacements                    --          --       46.61          --

Net income                                      $ 4.20      $ 6.19     $ 80.14     $ 31.11

Weighted average number of assignee units
  outstanding                                   23,558     23,558      23,558      23,701

Proforma amounts assuming the new accounting
  principle was applied retroactively:
   Net income                                    $ 101      $ 194       $ 807       $ 791
   Net income per assignee unit                 $ 4.20      $ 8.07     $ 33.53     $ 32.70

   Distribution per assignee unit              $ 15.28      $ --      $ 15.28     $ 15.00

         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)

<TABLE>
<CAPTION>
                                                    Limited Partners' Interests
                                      General        Assignor        Assignee
                                     Partners    Limited Partner   Unit Holders     Total

Partners' (deficit) capital
<S>           <C> <C>                 <C>              <C>            <C>          <C>
  at December 31, 2000                $ (990)          $ 1            $ 4,708      $ 3,719

Distribution to partners                  --              --             (360)        (360)

Net income for the nine months
  ended September 30, 2001                39              --            1,888        1,927

Partners' (deficit) capital
  at September 30, 2001               $ (951)          $ 1            $ 6,236      $ 5,286

         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>

                                                                 Nine Months Ended
                                                                   September 30,
                                                                  2001        2000
Cash flows from operating activities:
<S>                                                             <C>           <C>
  Net income                                                    $ 1,927       $ 752
  Adjustments to reconcile net income to net cash
   provided by operating activities:
     Depreciation                                                 1,211        1,029
     Amortization of loan costs                                      49           48
     Cumulative effect on prior years of a change in
      accounting principle for the costs of capital
      improvements and replacements                              (1,120)          --
     Changes in assets and liabilities:
      Tenant security deposit liabilities                           (16)          15
      Tenant security deposits                                       74          (15)
      Other assets                                                 (192)        (133)
      Accounts payable and accrued expenses                         428          163
      Due to managing general partner                                 1           --
      Deferred property management fees                             127          123
          Net cash provided by operating activities               2,489        1,982

Cash flows from investing activities:
  Working capital reserve                                            --           22
  Net withdrawals from (deposits to) restricted escrows             124         (136)
  Capital improvements and replacements                          (1,370)        (767)
          Net cash used in investing activities                  (1,246)        (881)

Cash flows from financing activities:
  Distributions paid                                             (1,510)        (708)
  Payments on mortgage notes payable                               (367)        (337)
  Advances from managing general partner                            433           --
  Repayments of advances from managing general partner             (234)          --
  Purchase of assignee units                                         --          (60)
          Net cash used in financing activities                  (1,678)      (1,105)

Net decrease in cash and cash equivalents                          (435)          (4)
Cash and cash equivalents at beginning of period                  1,599        1,322

Cash and cash equivalents at end of period                      $ 1,164      $ 1,318

Supplemental disclosure of cash flow information:
  Cash paid for interest                                        $ 1,232      $ 1,251

At December 31, 2000 and 1999,  distributions  of  approximately  $1,150,000 and
$355,000, respectively, were accrued and paid subsequent to such dates.

         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 and nine months
ended September 30, 2001, are not necessarily indicative of the results that may
be  expected  for  the  fiscal  year  ending  December  31,  2001.  For  further
information,  refer  to the  consolidated  financial  statements  and  footnotes
thereto included in the Partnership's  Annual Report on Form 10-K for the fiscal
year ended  December 31, 2000. The Managing  General  Partner is an affiliate of
Apartment  Investment and Management Company  ("AIMCO"),  a publicly traded real
estate investment trust (see "Note B - Transfer of Control").

For financial  reporting  purposes,  the net income per assignee unit of limited
partnership in ORP ("Assignee Unit") has been calculated by dividing the portion
of the  Partnership's net income allocable to Assignee Unit Holders (98%) by the
weighted average of Assignee Units outstanding.  In all computations of earnings
per Assignee Unit, the weighted average of Assignee Units outstanding during the
period constitutes the basis for the net income amounts per Assignee Unit on the
consolidated statements of operations.

Certain  reclassifications  have been made to the 2000 amounts to conform to the
2001 presentation.

Note B - Transfer of Control

On September 20, 2000,  AIMCO acquired 100% ownership  interest in Oxford Realty
Financial  Group,  Inc.  ("ORFG"),  the sole shareholder of the Managing General
Partner,  as well as other  interests in various Oxford  entities.  As a result,
AIMCO controls the Managing  General Partner and thereby controls the management
of ORP and its four investment properties.  In addition, in connection with this
transaction,  AIMCO acquired 4,997  assignee units or  approximately  21% of ORP
through an ORFG  affiliate.  The Managing  General Partner does not believe that
this  transaction  has had or will have a  material  effect on the  affairs  and
operations of the Partnership.

Note C - 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 other costs, which are not covered separately by fees. Total  reimbursements
to the Managing  General  Partner and its  affiliates  for the nine month period
ended  September 30, 2001, were  approximately  $32,000 for  administrative  and
accounting related costs, compared to $42,000 for the same period in 2000.

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 $319,000 and $308,000 for the nine months ended
September  30,  2001 and 2000,  respectively,  were  charged to expense  and are
included in  operating  expense on the  consolidated  statement  of  operations.
Property  management  fees of  approximately  $127,000 for the nine month period
ended September 30, 2001 have been deferred.

In accordance with the Partnership  Agreement,  the Managing General Partner has
loaned  approximately  $433,000 to the Partnership to cover operational expenses
during the nine months ended  September 30, 2001. Of this amount,  approximately
$234,000 of principal has been repaid.  At September 30, 2001, the amount of the
outstanding  loans  and  accrued  interest  for the  funds to cover  operational
expenses was approximately  $200,000 and are included in Due to Managing General
Partner.  Interest is charged at the prime rate plus 2%.  Interest  expenses was
approximately  $4,000 and $12,000 for the three and nine months ended  September
30, 2001, respectively, and is included in interest expense.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO  and its  affiliates  owned  13,032  Assignee  Units  in the
Partnership  representing  approximately  55.32%  of the  outstanding  units  at
September  30, 2001. 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. In this
regard,  on August 30, 2001,  an affiliate of AIMCO  commenced a tender offer to
acquire any and all of the units not owned by affiliates of AIMCO for a purchase
price of $862 per unit. Pursuant to this offer, the affiliate acquired 653 units
during  the  quarter  ended  September  30,  2001.  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  55.32% of the outstanding  Assignee Units, AIMCO is in a position
to control all 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.

Note D - Segment Reporting

Statement of Financial Standards ("SFAS") No. 131, "Disclosure about Segments of
an Enterprise and Related  Information"  established  standards for the way that
public business  enterprises  report  information  about  operating  segments in
annual financial  statements and requires that those enterprises report selected
information  about  operating  segments in interim  financial  reports.  It also
established  standards  for related  disclosures  about  products and  services,
geographic  areas,  and  major  customers.  As  defined  in SFAS  No.  131,  the
Partnership  has only one  reportable  segment.  The  Managing  General  Partner
believes that  segment-based  disclosures  will not result in a more  meaningful
presentation than the consolidated financial statements as currently presented.

Note E - Distributions

During the nine months ended  September 30, 2001, the  Partnership  declared and
paid a distribution  from  operations of  approximately  $360,000 to the limited
partners ($15.28 per assignee unit).  During the nine months ended September 30,
2001, the Partnership  paid a distribution  from operations of $1,150,000 to the
limited partners ($48.82 per assignee unit). This distribution was accrued as of
December  31,  2000.  During the nine  months  ended  September  30,  2000,  the
Partnership  paid a  distribution  from  operations  of  $355,000 to the limited
partners  ($15.00  per  assignee  unit).  This  distribution  was  accrued as of
December  31,  1999.  During the nine  months  ended  September  30,  2000,  the
Partnership  declared and paid a distribution from operations of $353,000 to the
limited partners ($15.00 per assignee unit).

Note F - Change in Accounting Principle

Effective   January  1,  2001,  the  Partnership   changed  its  thresholds  for
capitalizing   expenditures   for   certain   enhancements,   replacements   and
improvements  to  the  investment  properties,   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.


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.

The Partnership's investment properties consist of four apartment complexes. The
following table sets forth the average  occupancy of the properties for the nine
months ended September 30, 2001 and 2000:

                                                   Average Occupancy
      Property                                      2001       2000

      The Landings Apartments (1)                   89%        92%
        Indianapolis, Indiana
      Shadow Oaks Apartments                        92%        93%
        Tampa, Florida
      Raven Hill Apartments                         98%        98%
        Burnsville, Minnesota
      Fairlane East Apartments (2)                  93%        96%
        Dearborn, Michigan

(1)   The decrease in occupancy at The Landings is due to extensive repairs on
      several units during the year.

(2)   The decrease in  occupancy  at Fairlane  East is due to the decline in the
      automotive  industry  which  has  resulted  in job cuts at the  automotive
      facilities in the area.

Results of Operations

The  Partnership's  net income for the three and nine months ended September 30,
2001 was approximately $101,000 and $1,927,000, respectively, as compared to net
income for the three and nine months ended  September 30, 2000 of  approximately
$149,000  and  $752,000,  respectively.  The increase in net income for the nine
months  ended  September  30,  2001  is  primarily  due  to the  recognition  of
approximately  $1,120,000 of a cumulative  effect on prior years' of a change in
accounting  principle.  Income before the cumulative  effect on prior years of a
change in accounting  principle was approximately  $101,000 and $807,000 for the
three and nine months ended  September  30, 2001,  respectively,  as compared to
income of  approximately  $149,000  and  $752,000  for the three and nine months
ended  September  30,  2000,  respectively.  The  increase in income  before the
cumulative effect for the nine months ended September 30, 2001 was primarily due
to an  increase  in total  revenues  partially  offset by an  increase  in total
expenses.  The  decrease in income  before the  cumulative  effect for the three
months ended  September 30, 2001 was primarily due to a slight decrease in total
revenues along with a slight increase in total expenses.

The increase in total  revenues for the nine months ended  September 30, 2001 is
due to an increase in rental  income and other  income.  The  increase in rental
income  is due to an  increase  in  the  average  rental  rates  for  all of the
Partnership's  investment  properties which was partially offset by the decrease
in  occupancy  at  three  of  the  investment  properties  and  an  increase  in
concessions.  The increase in other  income is  primarily  due to an increase in
various tenant charges at all of the Partnership's  investment properties and an
increase in interest  income as a result of higher average cash balances held in
interest bearing accounts.

The decrease in total revenues for the three months ended  September 30, 2001 is
due to an increase in other income, as discussed above, and a decrease in rental
income.  The  decrease  in rental  income is  primarily  due to the  decrease in
occupancy at Fairlane East  Apartments,  as discussed  above, and an increase in
concessions.

The increase in total expenses for the three and nine months ended September 30,
2001 is due to an increase in depreciation  and property tax expenses  partially
offset by a decrease in general and  administrative  expenses.  The  increase in
depreciation  expense is due to capital  improvements  and replacements put into
service during the last twelve months that are now being  depreciated as well as
the change in accounting principle discussed below. The increase in property tax
expense is due to an increase in the assessment  value of Raven Hill  Apartments
for 2001,  the receipt of refunds  during 2000 for prior  years'  pertaining  to
Raven Hill Apartments and The Landings Apartments, and the timing of the receipt
of  property  tax  billings  for The  Landings  Apartments  which  affected  the
recording of the accrual at both  September  30, 2001 and 2000.  The decrease in
general  and  administrative  expense  is  due  to a  decrease  in  third  party
professional fees related to the administration of the Partnership.

Effective   January  1,  2001,  the  Partnership   changed  its  thresholds  for
capitalizing   expenditures   for   certain   enhancements,   replacements   and
improvements  to  the  investment  properties,   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 Managing 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 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,  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
Managing General Partner will be able to sustain such a plan.

Liquidity and Capital Resources

At  September  30,  2001,  the  Partnership  had cash and  cash  equivalents  of
approximately  $1,164,000 compared to approximately  $1,318,000 at September 30,
2000.  The  decrease  in cash and cash  equivalents  for the nine  months  ended
September  30,  2001 from the  Partnership's  year ended  December  31, 2000 was
approximately  $435,000.  This decrease is due to  approximately  $1,678,000 and
$1,246,000  of cash used in financing and  investing  activities,  respectively,
partially  offset by  approximately  $2,489,000  of cash  provided by  operating
activities. Cash used in financing activities consisted of distributions paid to
the partners,  principal  payments on the mortgages  encumbering  the investment
properties  and  repayment  of advances  made by the  Managing  General  Partner
partially offset by advances made by the Managing General Partner.  Cash used in
investing   activities   consisted  of  capital  improvements  and  replacements
partially  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

Based on a report received from an independent third party consultant  analyzing
necessary  exterior  improvements  and  estimates  made by the Managing  General
Partner on interior  improvements,  it is estimated that the property  requires,
but is not limited to, approximately  $355,000 of capital improvements which are
anticipated to be completed in 2001. The exterior capital  improvements  include
hot water heater replacement, soffit, stairwell and balcony improvements, window
replacements,  outdoor recreational facility improvements, major landscaping and
irrigation  improvements.  The interior  capital  improvements  include $375 per
apartment  unit which  includes,  but is not limited to,  flooring and appliance
replacements and interior  improvements.  During the nine months ended September
30,  2001,  the  Partnership  completed  approximately  $465,000 of budgeted and
nonbudgeted  capital  improvements  at  The  Landings   Apartments,   consisting
primarily   of  appliance   and  floor   covering   replacement,   water  heater
replacements,   structural   improvements,   cabinet  replacements,   electrical
improvements,  recreational facility improvements, signage, interior decoration,
counter top  replacements and plumbing  improvements.  These  improvements  were
funded from operating cash flow and replacement reserves.

Shadow Oaks Apartments

Based on a report received from an independent third party consultant  analyzing
necessary  exterior  improvements  and  estimates  made by the Managing  General
Partner on interior  improvements,  it is estimated that the property  requires,
but is not limited to, approximately  $365,000 of capital improvements which are
anticipated to be completed in 2001. The exterior capital  improvements  include
soffit, exterior painting,  major landscaping and irrigation  improvements.  The
interior  capital  improvements  include $375 per apartment unit which includes,
but  is not  limited  to,  flooring  and  appliance  replacements  and  interior
improvements.  During the nine months ended  September 30, 2001, the Partnership
completed   approximately  $255,000  of  capital  improvements  at  Shadow  Oaks
Apartments,  consisting primarily of exterior painting,  plumbing  improvements,
furniture  and  fixtures,  water  submetering  equipment and appliance and floor
covering  replacements.  These improvements were funded from operating cash flow
and replacement reserves.

Raven Hill Apartments

Based on a report received from an independent third party consultant  analyzing
necessary  exterior  improvements  and  estimates  made by the Managing  General
Partner on interior  improvements,  it is estimated that the property  requires,
but is not limited to, approximately  $524,000 of capital improvements which are
anticipated to be completed in 2001. The exterior capital  improvements  include
gutters,  plumbing and electrical  enhancements,  outdoor recreational  facility
improvements,  major  landscaping  and  irrigation  improvements.  The  interior
capital improvements include $375 per apartment unit which includes,  but is not
limited to,  flooring and  appliance  replacements  and  interior  improvements.
During the nine months ended  September  30,  2001,  the  Partnership  completed
approximately  $208,000  of  capital  improvements  at  Raven  Hill  Apartments,
consisting primarily of floor covering replacement,  plumbing improvements, roof
replacement and air conditioning and heating  improvements.  These  improvements
were funded from operating cash flow and replacement reserves.

Fairlane East Apartments

Based on a report received from an independent third party consultant  analyzing
necessary  exterior  improvements  and  estimates  made by the Managing  General
Partner on interior  improvements,  it is estimated that the property  requires,
but is not limited to, approximately  $660,000 of capital improvements which are
anticipated to be completed in 2001. The exterior capital  improvements  include
gutters, HVAC replacement, exterior painting, balcony improvements,  parking lot
enhancements,  major  landscaping,  irrigation  and draining  improvements.  The
interior  capital  improvements  include $375 per apartment unit which includes,
but  is not  limited  to,  flooring  and  appliance  replacements  and  interior
improvements.  During the nine months ended  September 30, 2001, the Partnership
completed  approximately  $442,000  of capital  improvements  at  Fairlane  East
Apartments,  consisting primarily of appliance and floor covering  replacements,
exterior  painting,  roof replacement,  cabinet  replacements,  air conditioning
improvements,  ground lighting and major  landscaping.  These  improvements were
funded from operating cash flow and replacement reserves.

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  $19,520,000 requires monthly payments of
principal and interest and matures  February 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.

During the nine months ended  September 30, 2001, the  Partnership  declared and
paid a distribution  from  operations of  approximately  $360,000 to the limited
partners ($15.28 per assignee unit).  During the nine months ended September 30,
2001, the Partnership  paid a distribution  from operations of $1,150,000 to the
limited partners ($48.82 per assignee unit). This distribution was accrued as of
December  31,  2000.  During the nine  months  ended  September  30,  2000,  the
Partnership  paid a  distribution  from  operations  of  $355,000 to the limited
partners  ($15.00  per  assignee  unit).  This  distribution  was  accrued as of
December  31,  1999.  During the nine  months  ended  September  30,  2000,  the
Partnership  declared and paid a distribution from operations of $353,000 to the
limited  partners  ($15.00 per assignee unit).  The  Partnership's  distribution
policy is reviewed on a semi-annual basis.  There can be no assurance,  however,
that the  Partnership  will  generate  sufficient  funds from  operations  after
required  capital  expenditures  to  permit  any  further  distributions  to its
partners during the remainder of 2001 or subsequent periods.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO  and its  affiliates  owned  13,032  Assignee  Units  in the
Partnership  representing  approximately  55.32%  of the  outstanding  units  at
September  30, 2001. 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. In this
regard,  on August 30, 2001,  an affiliate of AIMCO  commenced a tender offer to
acquire any and all of the units not owned by affiliates of AIMCO for a purchase
price of $862 per unit. Pursuant to this offer, the affiliate acquired 653 units
during  the  quarter  ended  September  30,  2001.  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  55.32% of the outstanding  Assignee Units, AIMCO is in a position
to control all 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.


<PAGE>


                           PART II - OTHER INFORMATION


ITEM 3.     EXHIBITS AND REPORTS ON FORM 8-K

            a)    Exhibits:

                  None.

            b)    Reports on Form 8-K filed during the quarter  ended  September
                  30, 2001:

                  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: