United States
                       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, 2003


[ ] 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 registrant 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)

<PAGE>



                         PART I - FINANCIAL INFORMATION



ITEM 1.     FINANCIAL STATEMENTS




                OXFORD RESIDENTIAL PROPERTIES I LIMITED PARTNERSHIP

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

                               September 30, 2003
<TABLE>
<CAPTION>

Assets
<S>                                                                           <C>
  Cash and cash equivalents                                                   $ 1,919
  Receivables and deposits                                                         260
  Restricted escrows                                                               114
  Other assets                                                                     828
  Investment properties:
   Land                                                         $ 3,681
   Buildings and improvements                                     42,949
                                                                  46,630
   Less accumulated depreciation                                 (23,976)       22,654
                                                                              $ 25,775
Liabilities and Partners' (Deficiency) Capital
Liabilities
  Accounts payable                                                             $ 119
  Tenant security deposits                                                         164
  Accrued taxes                                                                    449
  Other liabilities                                                                229
  Due to general partner                                                           267
  Mortgage notes payable                                                        30,937

Partners' (Deficiency) Capital
  General partners                                               $ (927)
  Assignor limited partner                                             1
  Assignee unit holders (23,558 units outstanding)                (5,464)       (6,390)
                                                                              $ 25,775

            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         Nine Months Ended
                                            September 30,              September 30,
                                          2003          2002          2003        2002
Revenues:
<S>                                      <C>           <C>          <C>          <C>
  Rental income                          $ 1,840       $ 2,022      $ 5,435      $ 5,975
  Other income                               225           219          630          566
  Casualty gain                               --            --           38           --
      Total revenues                       2,065         2,241        6,103        6,541

Expenses:
  Operating                                  913           738        2,868        2,386
  General and administrative                  31            46          102           88
  Depreciation                               432           402        1,351        1,255
  Interest                                   308           403          977        1,253
  Property taxes                             197           279          818          780
       Total expenses                      1,881         1,868        6,116        5,762

Net income (loss)                         $ 184         $ 373        $ (13)       $ 779

Net income allocated to general
  partners (2%)                            $ 4           $ 7          $ --        $ 16
Net income (loss) allocated to
  limited partner (98%)                      180           366          (13)         763

                                          $ 184         $ 373        $ (13)       $ 779
Per assignee unit:
  Net income (loss)                      $ 7.64        $ 15.54      $ (0.55)     $ 32.39

Distribution per assignee unit            $ --          $ --        $446.81      $ 54.12

            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, 2002              23,558    $ (927)        $ 1           $ 5,075      $ 4,149

Distributions to partners               --        --            --         (10,526)     (10,526)

Net loss for the nine months
  ended September 30, 2003              --        --            --             (13)         (13)

Partners' (deficiency) capital
  at September 30, 2003             23,558    $ (927)        $ 1          $ (5,464)    $ (6,390)


            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>
                                                                     Nine Months Ended
                                                                       September 30,
                                                                     2003         2002
Cash flows from operating activities:
<S>                                                                  <C>          <C>
  Net (loss) income                                                  $ (13)       $ 779
  Adjustments to reconcile net (loss) income to net cash
   provided by operating activities:
     Depreciation                                                     1,351        1,255
     Amortization of loan costs                                          44           39
     Casualty gain                                                      (38)          --
     Loss on early extinguishment of debt                                 6           --
     Changes in assets and liabilities:
      Receivables and deposits                                          509         (222)
      Other assets                                                     (167)           2
      Accounts payable                                                   61         (183)
      Tenant security deposits                                           16          (29)
      Due to general partner                                         (1,348)         191
      Accrued property tax                                              319          153
      Other liabilities                                                  (3)          73
          Net cash provided by operating activities                     737        2,058

Cash flows from investing activities:
  Property improvements and replacements                               (361)        (511)
  Net withdrawals from restricted escrows                               230          170
  Insurance proceeds received                                            48           --
          Net cash used in investing activities                         (83)        (341)

Cash flows from financing activities:
  Payments on mortgage notes payable                                   (442)        (398)
  Repayment of mortgage notes payable                               (15,726)          --
  Distributions to partners                                         (10,526)      (1,275)
  Loan costs paid                                                      (514)          --
  Proceeds from mortgage notes payable                               27,060           --
  Advances from affiliate                                               385           --
  Repayment of advances from affiliate                                 (385)        (199)
          Net cash used in financing activities                        (148)      (1,872)

Net increase (decrease) in cash and cash equivalents                    506         (155)
Cash and cash equivalents at beginning of period                      1,413        1,001

Cash and cash equivalents at end of period                          $ 1,919       $ 846

Supplemental disclosure of cash flow information:
  Cash paid for interest                                             $ 980       $ 1,197
Supplemental disclosure of non-cash information:
  Fixed assets in accounts payable                                   $ --         $ 357

            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 nine months
ended September 30, 2003, are not necessarily indicative of the results that may
be  expected  for  the  fiscal  year  ending  December  31,  2003.  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,  2002.  The  Managing  General  Partner is an
affiliate of Apartment  Investment and Management Company ("AIMCO"),  a publicly
traded real estate investment trust.

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 nine months  ended  September  30, 2003 and 2002,  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 Limited Partners or Assignee Unit Holders
are achieved.  Total  property  management  fees of  approximately  $344,000 and
$327,000 for the nine months ended  September  30, 2003 and 2002,  respectively,
were  charged  to  expense  and  are  included  in  operating   expense  on  the
consolidated statements of operations. Property management fees of approximately
$138,000 and $127,000  for the nine months  ended  September  30, 2003 and 2002,
respectively,  have been  deferred.  During the nine months ended  September 30,
2003, these  distribution  preferences were met with the refinancing of Fairlane
East  Apartments,  The  Landings  Apartments,  and  Raven  Hill  Apartments  and
approximately  $1,210,000 of the  previously  subordinated  fees were paid.  The
cumulative   deferred   management   fees  as  of  September  30,  2003  totaled
approximately $267,000.

An  affiliate  of  the  Managing  General  Partner  received  reimbursements  of
accountable  administrative  expenses  amounting  to  approximately  $74,000 and
$51,000 for the nine months  ended  September  30, 2003 and 2002,  respectively,
which  is  included  in  general  and  administrative  expenses  and  investment
properties.   Included  in  these  amounts  are  fees  related  to  construction
management  services provided by an affiliate of the Managing General Partner of
approximately  $2,000 and $16,000 for the nine months ended  September  30, 2003
and 2002, respectively.  The construction management service fees are calculated
based on a percentage of current year additions to investment properties.

In  accordance  with the  Partnership  Agreement,  during the nine months  ended
September 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.
During the nine months ended September 30, 2002, the Partnership repaid advances
of  approximately  $199,000.  Interest was charged at the prime rate plus 2% and
amounted to approximately  $3,000 and $4,000 for the nine months ended September
30, 2003 and 2002, respectively.

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 nine months ended September 30, 2003 and
2002,  the  Partnership  was charged by AIMCO and its  affiliates  approximately
$136,000 and $165,000,  respectively, for insurance coverage and fees associated
with policy claims administration.

Note C - 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 and debt
discount and prepayment penalties. This amount is included in interest expense.

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 D -Casualty Gain

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 nine months  ended  September  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 nine months ended
September 30, 2003.

Note E - 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.  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  Complaint  also  attempts  to certify a subclass  for  salaried
service  directors who are challenging  their  classification as exempt from the
overtime  provisions of the FLSA.  AIMCO  Properties L.P. has filed an answer to
the Complaint denying the substantive  allegations.  Although the outcome of any
litigation  is  uncertain,  in the opinion of the Managing  General  Partner the
claims will not result in any material liability to the Partnership.

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.

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 four apartment complexes. The
following table sets forth the average  occupancy of the properties for the nine
months ended September 30, 2003 and 2002:

                                                   Average Occupancy
      Property                                      2003       2002

      The Landings Apartments (1)                   89%        94%
        Indianapolis, Indiana
      Shadow Oaks Apartments                        95%        95%
        Tampa, Florida
      Raven Hill Apartments (2)                     90%        93%
        Burnsville, Minnesota
      Fairlane East Apartments (1)                  89%        92%
        Dearborn, Michigan

(1)   The Managing General Partner  attributes the decrease in average occupancy
      at The Landings  Apartments and Fairlane East Apartments to an increase in
      unemployment  in the  area and to an  increase  in home  purchases  due to
      favorable interest rates.

(2)   The Managing General Partner  attributes the decrease in average occupancy
      at Raven Hill Apartments to an increase in home purchases and to increased
      competition from newer properties in the area.

Results of Operations

The  Partnership's  net  income  (loss)  for the  three  and nine  months  ended
September  30,  2003 was  approximately  $230,000  and  ($13,000)  respectively,
compared to net income for the three and nine month periods ended  September 30,
2002 of approximately  $373,000 and $779,000  respectively.  The decrease in net
income  for the  three  month  period  is due to a  decrease  in total  revenues
partially offset by a decrease in total expenses. The decrease in net income for
the nine month period is due to a decrease in total  revenues and an increase in
total expenses.

The  decrease  in total  revenues  for  both the  three  and nine  months  ended
September 30, 2003 was due to a decrease in rental income partially offset by an
increase in other  income.  The  decrease in total  revenues  for the nine month
period was also offset by the  recognition  of a casualty  gain in 2003.  Rental
income  decreased  due to a  decrease  in  average  occupancy  at  three  of the
Partnership's   properties   and  an  increase  in  bad  debt  expense,   rental
concessions, and promotions at all of the Partnership's properties. Other income
increased due to an increase in lease  cancellation fees and late charges at all
of the Partnership's properties.

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 nine months  ended  September  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 nine months ended
September 30, 2003.

Total  expenses  increased  for the nine months ended  September 30, 2003 due to
increases in operating expenses, depreciation and property tax expense offset by
a decrease in interest  expense.  Total expenses  increased for the three months
ended September 30, 2003 due to increases in operating and depreciation expenses
partially  offset by decreases in interest and property tax expenses.  Operating
expenses  increased for both periods due to increases in advertising and leasing
promotions,  utilities, and contract labor, primarily at Raven Hill and Fairlane
East Apartments.  Depreciation  expense for both periods increased due to assets
placed in service during the last twelve months.  Interest expense decreased for
both  periods  due to the  refinancings  in  November  2002  and May 2003 of the
mortgages encumbering all of the investment properties,  which resulted in lower
interest  rates.  Property  tax  expense  increased  for the nine  months  ended
September  30,  2003 due to an  adjustment  of  property  tax  accruals  for the
Partnership's  investment  property  located in  Michigan.  For the three  month
period,  property  tax expense  decreased  due to a decrease in the tax rate for
Raven Hill Apartments.

Included  in general  and  administrative  expense for the three and nine months
ended September 30, 2003 and 2002 are management  reimbursements to the Managing
General Partner as allowed under the Partnership Agreement.  In addition,  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.

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,  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.

Liquidity and Capital Resources

At  September  30,  2003,  the  Partnership  had cash and  cash  equivalents  of
approximately  $1,919,000  compared to  approximately  $846,000 at September 30,
2002. Cash and cash equivalents  increased  approximately  $506,000 for the nine
months ended September 30, 2003 due to  approximately  $737,000 of cash provided
by operating activities partially offset by approximately  $148,000 of cash used
in  financing  activities  and  approximately  $83,000 of cash used in investing
activities.  Cash used in financing activities consisted of distributions to the
partners,  the repayment of the existing mortgage notes encumbering three of the
investment  properties,  the repayment of advances from an affiliate,  principal
payments made on the mortgages encumbering all of the investment properties, and
new loan costs  associated with the  refinancings  partially  offset by proceeds
from  refinancing  the  mortgages  on three  of the  investment  properties  and
advances  from an  affiliate.  Cash used in  investing  activities  consisted of
property  improvements  and  replacements  partially  offset  by the  refund  of
restricted  escrows  maintained  by the former  mortgage  lender  and  insurance
proceeds  received.  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.  The Managing General Partner
monitors  developments  in the area of legal and  regulatory  compliance  and is
studying  new  federal  laws,  including  the  Sarbanes-Oxley  Act of 2002.  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 nine months ended  September  30,  2003,  the  Partnership  completed
approximately  $58,000  of  capital  improvements  at The  Landings  Apartments,
consisting  primarily of floor covering  replacements and water heater upgrades.
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  $5,000 in capital  improvements
during the remainder of 2003. The additional  capital  improvements will consist
primarily of floor covering replacements. Additional capital improvements may be
considered and will depend on the physical  condition of the property as well as
anticipated cash flow generated by the property.

Shadow Oaks Apartments

During the nine months ended  September  30,  2003,  the  Partnership  completed
approximately  $58,000  of  capital  improvements  at  Shadow  Oaks  Apartments,
consisting primarily of floor covering and air conditioning 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 $21,000 in capital  improvements  during the remainder
of 2003. The additional  capital  improvements  will consist  primarily of floor
covering,  cabinet,  countertop,  HVAC and appliance  replacements  and stairway
railings.  Additional capital  improvements may be considered and will depend on
the  physical  condition  of the  property  as well  as  anticipated  cash  flow
generated by the property.

Raven Hill Apartments

During the nine  months  ended  September  30 2003,  the  Partnership  completed
approximately  $130,000  of  capital  improvements  at  Raven  Hill  Apartments,
consisting primarily of fitness equipment, plumbing fixtures, and cabinet, floor
covering, appliance, and HVAC 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
$12,000 in capital  improvements  during the remainder of 2003.  The  additional
capital  improvements  will consist  primarily of floor  covering and  appliance
replacements and swimming pool improvements. 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 nine months ended  September  30,  2003,  the  Partnership  completed
approximately  $115,000 of capital  improvements  at Fairlane  East  Apartments,
consisting primarily of floor covering,  appliance,  HVAC and electrical breaker
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  $27,000  in  capital
improvements  during the remainder of 2003. The additional capital  improvements
will  consist  primarily  of floor  covering and  appliance  replacements,  pool
upgrades  and  breezeway  painting.   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.

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.

On May 8, 2003, the Partnership refinanced the mortgage indebtedness 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 indebtedness 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 and debt discount and prepayment  penalties.  This amount
is included in interest expense.

On May 8, 2003, the Partnership refinanced the mortgage indebtedness 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.

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  all of the  investment  properties  of  approximately
$30,937,000  is amortized over 20 years with balloon  payments of  approximately
$3,639,000 due in 2007 and  approximately  $12,855,000 due in 2008. The Managing
General  Partner  will attempt to refinance  such  indebtedness  and/or sell the
properties prior to such maturity dates. If the properties  cannot be refinanced
or sold for a sufficient amount, the Partnership may risk losing such properties
through foreclosure.

The Partnership  distributed the following  amounts during the nine months ended
September 30, 2003 and 2002 (in thousands, except per unit data):
<TABLE>
<CAPTION>

                                      Per Limited                         Per Limited
                  Nine Months Ended   Partnership    Nine Months Ended    Partnership
                  September 30, 2003      Unit       September 30, 2002       Unit

<S>       <C>          <C>              <C>                 <C>               <C>
Refinance (1)          $ 9,314          $395.36             $ --              $ --
Operations               1,212            51.45             1,275             54.12
                       $10,526          $446.81           $ 1,275           $ 54.12

(1)   From the refinancings of Fairlane East  Apartments,  Raven Hill Apartments
      and The Landings Apartments in May 2003.
</TABLE>

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 2003 or subsequent periods.

Other

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates owned 13,627 limited partnership assignee
units (the "Units") in the  Partnership  representing  57.84% of the outstanding
Units at September 30, 2003. 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, L.P., 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 that  include,  but are not limited
to,  voting on certain  amendments  to the  Partnership  Agreement and voting to
remove the Managing General  Partner.  As a result of its ownership of 57.84% of
the outstanding  Units,  AIMCO and its affiliates are in a position to influence
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 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 and
the Partnership  fully reserves all balances  outstanding  over thirty days. 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.  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  Complaint  also  attempts  to certify a subclass  for  salaried
service  directors who are challenging  their  classification as exempt from the
overtime  provisions of the FLSA.  AIMCO  Properties L.P. has filed an answer to
the Complaint denying the substantive  allegations.  Although the outcome of any
litigation  is  uncertain,  in the opinion of the Managing  General  Partner the
claims will not result in any material liability to the Partnership.

ITEM 3.     EXHIBITS AND REPORTS ON FORM 8-K

            a) Exhibits:

                  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).

                  Exhibit 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.

                  Exhibit 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.

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

            b) Reports on Form 8-K:

                  None filed during the quarter ended September 30, 2003.




<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/Paul J. McAuliffe
                                   Paul J. McAuliffe
                                   Executive Vice President
                                   and Chief Financial Officer


                             Date: November 12, 2003



<PAGE>



Exhibit 31.1


                                  CERTIFICATION


I, Patrick J. Foye, certify that:


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

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 registrant as of, and for, the periods presented in this report;

4.    The  registrant'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 registrant
      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
            registrant,  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 registrant'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  registrant's  internal
            control  over   financial   reporting   that  occurred   during  the
            registrant's  most recent fiscal  quarter (the  registrant's  fourth
            fiscal  quarter in the case of an annual report) that has materially
            affected,   or  is  reasonably  likely  to  materially  affect,  the
            registrant's internal control over financial reporting; and

5.    The registrant's other certifying  officer(s) and I have disclosed,  based
      on  our  most  recent   evaluation  of  internal  control  over  financial
      reporting,  to the  registrant's  auditors and the audit  committee of the
      registrant'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  registrant'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  registrant's
            internal control over financial reporting.

Date:  November 12, 2003

                                    /s/Patrick J. Foye
                                    Patrick J. Foye
                                    Executive    Vice    President   of   Oxford
                                    Residential    Properties   I   Corporation,
                                    equivalent of the chief executive officer of
                                    the Partnership


<PAGE>



Exhibit 31.2


                                  CERTIFICATION


I, Paul J. McAuliffe, certify that:


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

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 registrant as of, and for, the periods presented in this report;

4.    The  registrant'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 registrant
      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
            registrant,  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 registrant'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  registrant's  internal
            control  over   financial   reporting   that  occurred   during  the
            registrant's  most recent fiscal  quarter (the  registrant's  fourth
            fiscal  quarter in the case of an annual report) that has materially
            affected,   or  is  reasonably  likely  to  materially  affect,  the
            registrant's internal control over financial reporting; and

5.    The registrant's other certifying  officer(s) and I have disclosed,  based
      on  our  most  recent   evaluation  of  internal  control  over  financial
      reporting,  to the  registrant's  auditors and the audit  committee of the
      registrant'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  registrant'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  registrant's
            internal control over financial reporting.

Date:  November 12, 2003

                                    /s/Paul J. McAuliffe
                                    Paul J. McAuliffe
                                    Executive Vice President and Chief Financial
                                    Officer 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 September 30, 2003 as filed with the Securities and Exchange Commission on
the date hereof (the "Report"),  Patrick J. Foye, as the equivalent of the chief
executive officer of the Partnership,  and Paul J. McAuliffe,  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/Patrick J. Foye
                                    Name:  Patrick J. Foye
                                    Date:  November 12, 2003


                                           /s/Paul J. McAuliffe
                                    Name:  Paul J. McAuliffe
                                    Date:  November 12, 2003


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.