UNITED STATES SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549
                    ----------------------------------

                                    FORM 10-Q

         |X|  QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
                      SECURITIES EXCHANGE ACT OF 1934

               FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1998

                                       OR

         |_|  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
             SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)

                    For the transition period from_______ to _______.

                        Commission File Number : 0-13129

             PAINE WEBBER INCOME PROPERTIES SIX LIMITED PARTNERSHIP
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)

          Delaware                                             04-2829686
          --------                                             ----------
(State or other jurisdiction of                             (I.R.S. Employer
incorporation or organization)                              Identification No.)

265 Franklin Street, Boston, Massachusetts                     02110
--------------------------------------------------------------------------------
(Address of principal executive offices)                    (Zip Code)

Registrant's telephone number, including area code  (617) 439-8118
                                                    --------------

Indicate by check mark whether the registrant (1) has filed all reports required
to be filed  by  Section  13 or 15 (d) of the  Securities  Exchange  Act of 1934
during the preceding 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>

          PAINE WEBBER INCOME PROPERTIES SIX LIMITED PARTNERSHIP

                                 BALANCE SHEETS
                March 31, 1998 and September 30, 1997 (Unaudited)
                                 (In thousands)

                                     ASSETS

                                                  March 31   September 30
                                                  --------   ------------

Investments in joint ventures, at equity         $    3,575  $    4,183
Cash and cash equivalents                             1,956       1,918
                                                 ----------  ----------
                                                 $    5,531  $    6,101
                                                 ==========  ==========


                        LIABILITIES AND PARTNERS' CAPITAL

Accounts payable - affiliates                    $       16  $       16
Accrued expenses and other liabilities                   19          50
Partners' capital                                     5,496       6,035
                                                 ----------  ----------
                                                 $    5,531  $    6,101
                                                 ==========  ==========

              STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)
          For the six months ended March 31, 1998 and 1997 (Unaudited)
                                 (In thousands)
                                                   General     Limited
                                                   Partners    Partners
                                                   --------    --------

Balance at September 30, 1996                       $(1,347)   $ 9,971
Cash distributions                                       (6)    (2,640)
Net income                                                4        410
                                                    -------    -------
Balance at March 31, 1997                           $(1,349)   $ 7,741
                                                    =======    =======

Balance at September 30, 1997                       $(1,353)   $ 7,388
Cash distributions                                      (11)    (1,052)
Net income                                                5        519
                                                    -------    -------
Balance at March 31, 1998                           $(1,359)   $ 6,855
                                                    =======    =======


                             See accompanying notes.


<PAGE>


             PAINE WEBBER INCOME PROPERTIES SIX LIMITED PARTNERSHIP

                              STATEMENTS OF INCOME
           For the three and six months ended March 31, 1998 and 1997
                (Unaudited) (In thousands, except per Unit data)

                                    Three Months Ended    Six Months Ended
                                         March 31,           March 31,
                                    ------------------   -----------------
                                      1998      1997       1998      1997
                                      ----      ----       ----      ----

Revenues:
   Interest income                  $    29   $    39    $   58     $    86

Expenses:
   Management fees                       38        22        77          44
   General and administrative            81        79       135         124
                                    -------   -------    ------     -------
                                        119       101       212         168
                                    -------   -------    ------     -------

Operating loss                          (90)      (62)     (154)        (82)

Partnership's share of 
  unconsolidated
  ventures' income                      429       223       678         496
                                    -------   -------    ------     -------

Net income                          $   339   $   161    $  524     $   414
                                    =======   =======    ======     =======

Net income per Limited
  Partnership Unit                  $ 5.59    $  2.66    $ 8.64     $  6.83
                                    ======    =======    ======     =======

Cash distributions per Limited
  Partnership Unit                  $ 8.77    $ 39.00    $17.54     $ 44.00
                                    ======    =======    ======     =======


   The above net income and cash distributions per Limited  Partnership Unit are
based upon the 60,000 Units of Limited Partnership Interest outstanding for each
period.






                             See accompanying notes.


<PAGE>


             PAINE WEBBER INCOME PROPERTIES SIX LIMITED PARTNERSHIP

                            STATEMENTS OF CASH FLOWS
          For the six months ended March 31, 1998 and 1997 (Unaudited)
                Increase (Decrease) in Cash and Cash Equivalents
                                 (In thousands)

                                                           1998      1997
                                                           ----      ----
Cash flows from operating activities:
   Net income                                         $     524    $     414
   Adjustments to reconcile net income to
     net cash used in operating activities:
      Partnership's share of ventures' income              (678)        (496)
      Changes in assets and liabilities:
        Accrued expenses and other liabilities              (31)           3
                                                      ---------    ---------
           Total adjustments                               (709)        (493)
                                                      ---------    ---------
           Net cash used in operating activities           (185)         (79)

Cash flows from investing activities:
   Distributions from joint ventures                      1,286        1,312

Cash flows from financing activities:
   Cash distributions to partners                        (1,063)      (2,646)
                                                      ---------    ---------

Net increase (decrease) in cash and cash equivalents         38       (1,413)

Cash and cash equivalents, beginning of period            1,918        3,218
                                                      ---------    ---------

Cash and cash equivalents, end of period              $  1,956     $   1,805
                                                      ========     =========











                             See accompanying notes.


<PAGE>
                       PAINE WEBBER INCOME PROPERTIES SIX
                               LIMITED PARTNERSHIP
                          Notes to Financial Statements
                                   (Unaudited)
  
1.  General
    -------

      The accompanying financial statements,  footnotes and discussion should be
read in conjunction with the financial statements and footnotes contained in the
Partnership's  Annual  Report  for the year ended  September  30,  1997.  In the
opinion of management, the accompanying consolidated financial statements, which
have not been audited,  reflect all adjustments  necessary to present fairly the
results for the interim period. All of the accounting  adjustments  reflected in
the accompanying interim financial statements are of a normal recurring nature.

      The  accompanying  financial  statements have been prepared on the accrual
basis of accounting in accordance with generally accepted accounting  principles
which require  management  to make  estimates  and  assumptions  that affect the
reported amounts of assets and liabilities and disclosures of contingent  assets
and  liabilities  as of March 31, 1998 and  September  30, 1997 and revenues and
expenses  for the three and six months  ended  March 31,  1998 and 1997.  Actual
results could differ from the estimates and assumptions used.

2.  Related Party Transactions
    --------------------------

      The Adviser  earned total  management  fees of $77,000 and $44,000 for the
six-month periods ended March 31, 1998 and 1997, respectively.  Accounts payable
-  affiliates  at both  March  31,  1998 and  September  30,  1997  consists  of
management fees of $16,000 payable to the Adviser.

      Included in general and administrative  expenses for both of the six-month
periods ended March 31, 1998 and 1997 is $56,000, representing reimbursements to
an affiliate of the Managing  General Partner for providing  certain  financial,
accounting and investor communication services to the Partnership.

      Also  included in general and  administrative  expenses for the six months
ended March 31, 1998 and 1997 is $3,000 and $4,000,  respectively,  representing
fees earned by an affiliate,  Mitchell Hutchins Institutional  Investors,  Inc.,
for managing the Partnership's cash assets.

3.  Investments in Joint Ventures
    -----------------------------

      The  Partnership  has  investments  in  three  joint  ventures  which  own
operating investment properties,  as discussed further in the Annual Report. The
joint  ventures are accounted for on the equity method  because the  Partnership
does not have a voting control interest in the ventures. Under the equity method
the ventures are carried at cost  adjusted  for the  Partnership's  share of the
ventures' earnings and losses and distributions.

      Summarized  operations  of the three joint  ventures for the three and six
months ended March 31, 1998 and 1997 are as follows:

                    CONDENSED COMBINED SUMMARY OF OPERATIONS
           For the three and six months ended March 31, 1998 and 1997
                                 (in thousands)

                                     Three Months Ended    Six Months Ended
                                          March 31,            March 31,
                                     ------------------    ----------------
                                       1998     1997        1998       1997
                                       ----     ----        ----       ----
   Rental revenues and
     expense recoveries               $2,331   $2,356      $4,839     $4,705
   Interest and other income              62       25          72         52
                                      ------   ------      ------     ------
                                       2,393    2,381       4,911      4,757

   Property operating expenses           680      836       1,641      1,653
   Interest expense                      678      696       1,362      1,391
   Depreciation and amortization         606      622       1,230      1,210
                                      ------   ------      ------     ------
                                       1,964    2,154       4,233      4,254
                                      ------   ------      ------     ------
   Net income                         $  429   $  227      $  678     $  503
                                      ======   ======      ======     ======

   Net income:
     Partnership's share of
       combined income                $  429   $  227      $  678     $  503
     Co-venturers' share of
       combined income                     -        -           -          -
                                      ------   ------      ------     ------
                                      $  429   $  227      $  678     $  503
                                      ======   ======      ======     ======
<PAGE>

               Reconciliation of Partnership's Share of Operations
           For the three and six months ended March 31, 1998 and 1997
                                 (in thousands)

                                     Three Months Ended     Six Months Ended
                                          March 31,              March 31,
                                     ------------------    ------------------
                                      1998       1997       1998       1997
                                      ----       ----       ----       ----
      Partnership's share of
        combined income, as 
        shown above                  $   429   $   227     $   678     $   503
      Amortization of excess basis         -        (4)          -          (7)
                                     -------   -------     -------     -------
      Partnership's share of 
        unconsolidated ventures' 
        income                       $   429   $   223     $   678     $   496
                                     =======   =======     =======     =======


<PAGE>

                      MANAGEMENT'S DISCUSSION AND ANALYSIS
                OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS


Information Relating to Forward-Looking Statements
--------------------------------------------------

      The following  discussion of financial condition includes  forward-looking
statements  which  reflect  management's  current  views with  respect to future
events and  financial  performance  of the  Partnership.  These  forward-looking
statements  are  subject to certain  risks and  uncertainties,  including  those
identified  in Item 7 of the  Partnership's  Annual  Report on Form 10-K for the
year ended  September  30, 1997 under the  heading  "Certain  Factors  Affecting
Future Operating Results", which could cause actual results to differ materially
from historical  results or those  anticipated.  The words "believe",  "expect",
"anticipate,"  and  similar  expressions  identify  forward-looking  statements.
Readers  are  cautioned  not to place undue  reliance  on these  forward-looking
statements,  which were made based on facts and conditions as they existed as of
the date of this report.  The  Partnership  undertakes no obligation to publicly
update or revise  any  forward-looking  statements,  whether  as a result of new
information, future events or otherwise.

Liquidity and Capital Resources
-------------------------------

      As  discussed  further in the Annual  Report,  management  is  focusing on
potential   disposition   strategies  for  the  Partnership's   three  remaining
investment  properties.  Management  believes  that  the  market  values  of the
Partnership's  two multi-family  residential  properties may be at or near their
peak for the current market cycle. As a result,  management believes it would be
appropriate  to  explore  potential  opportunities  to sell one or both of these
properties in the near term. The investment in the Mall Corners  Shopping Center
currently  provides  the majority of the  Partnership's  net cash flow and would
likely be held pending the  dispositions  of the two  apartment  properties.  In
addition, as discussed further below, there are a number of leasing issues to be
addressed at Mall  Corners  before a sale of the  property  would be  practical.
Depending on the  availability  of  favorable  sales  opportunities  for the two
multi-family  properties  and  management's  success in  addressing  the leasing
issues at Mall  Corners,  the  Partnership  could be  positioned  for a possible
liquidation within the next 2 to 3 years. There are no assurances, however, that
the Partnership will be able to complete the sale of its remaining assets within
this time frame.

     As of March 31, 1998,  the Mall  Corners  Shopping  Center,  located in the
suburban  Atlanta,  Georgia  market,  was 90% leased,  unchanged  from the prior
quarter. As previously reported, the construction associated with the relocation
and expansion of one of the property's major tenants increased the leasable area
of the center from  approximately  287,000 square feet to approximately  304,000
square feet during fiscal 1996. The 16,530 square foot space  formerly  occupied
by this tenant comprises  approximately one half of the space which is currently
unleased.  The leasing team is presently marketing this space to retailers which
would  complement  the  existing  tenant mix.  This space is located in the rear
corner of the shopping center and has less visibility from the main road than is
typical  for a store this size.  As a result,  the space has been  difficult  to
lease.  A proposal to redesign this  storefront to increase  visibility is under
consideration.  During the second  quarter of fiscal  1998,  two new leases were
signed  for a total of 4,830  square  feet.  One of the new leases is a ten-year
commitment  from a new  restaurant  tenant  which is  expected  to move into the
Center by mid-May following  completion of improvements to the vacant space. The
other new tenant is a tile and carpeting store that has signed a five-year lease
and is also  expected to take  occupancy in May  following  completion  of their
build-out.  In addition,  three current tenants signed lease renewals during the
quarter for their spaces that total  approximately  3,170  square feet.  Each of
these tenants  extended their leases for an additional  five years at escalating
rental rates.

     As previously  reported,  during the fourth  quarter of fiscal 1997, one of
the Center's  anchor  tenants,  Levitz  Furniture,  which occupied 50,000 square
feet,  filed for  Chapter 11  bankruptcy  protection.  As part of the  company's
reorganization  plan,  the store at Mall Corners was closed on October 13, 1997.
It reopened  for an  inventory  liquidation  sale,  but then closed  permanently
during the past quarter. Because Levitz was a sub-tenant of a national retailer,
the Mall  Corners  joint  venture is entitled to continue to collect rent on the
store  through  the  expiration  of the  current  lease  term in  January  2001.
Additionally,  Toys R Us closed its store that abuts the Mall  Corners  Shopping
Center in 1997 in order to consolidate their operations with Baby Superstore,  a
chain of stores that Toys R Us recently  acquired.  The  consolidated  store for
this  market is now  located in a new nearby  center.  The former  store site is
located on a separate  parcel of land owned by Toys R Us.  While the  closing of
this Toys R Us store does not have a direct financial impact on the Mall Corners
joint  venture,  this  vacancy  does  have a  negative  impact  on the  Center's
appearance as well as on the number of shoppers  entering the Center.  Toys R Us
is actively  marketing  the vacant space for sale or for lease.  The  property's
leasing team has been actively  exploring  leasing  opportunities to protect and
enhance the  Center's  overall  position in the market as a result of the Levitz
Furniture and Toys R Us store  closings.  This includes  discussions  with major
retailers  that may be looking to expand into this suburban  Atlanta  market and
which would  complement  the existing  tenant mix. If the leasing team's efforts
are successful,  there should be more favorable  opportunities to renew expiring
shop space leases or sign new leases at higher rental rates.

      The occupancy level at the Hurstbourne Apartments,  located in Louisville,
Kentucky,  averaged  88% for quarter  ended March 31, 1998,  unchanged  from the
previous  quarter.  The  property's  leasing  team was recently  reorganized  to
improve the marketing  efforts.  However,  the local sub-market remains soft and
the leasing  staff is  currently  offering  reduced  rental rates on some of the
apartments that have remained vacant for a prolonged period. In order to enhance
Hurstbourne's  competitive  position in its market,  the property's leasing team
has also been testing the market by offering prospective residents the option of
an  updated  kitchen  in their unit in return  for a higher  rental  rate.  This
updated package would include new appliances,  sink,  countertop,  cabinetry and
flooring.  The results of this test marketing are currently being evaluated.  In
addition  to  the  routine  replacement  of  carpets  and  appliances,  property
improvements  completed  during the second quarter  included  replacement of two
water  heaters and upgrades to the  property's  leasing area aimed at bolstering
the marketing  efforts.  There is currently no new multi-family  construction in
the Louisville, Kentucky sub-market in which Hurstbourne is located, however new
projects are being proposed.  In addition,  a competitive  apartment property in
the local market is undergoing a significant  improvement  program.  The office,
clubhouse,  and all of the units are being  renovated,  and the exteriors of the
buildings have been repainted. When this program is completed, the competitor is
expected  to  raise  its  rental  rates,  which  are  currently  below  those at
Hurstbourne.  It is  anticipated  that  this  will  have a  positive  impact  on
Hurstbourne's  leasing efforts,  and it underscores the need to continue to make
improvements at Hurstbourne.  As part of the Partnership's  overall  disposition
plan,  management  has begun to explore  potential  opportunities  to market the
Hurstbourne Apartments for sale. Interviews are currently ongoing with local and
regional  brokerage  firms to formulate a strategy for disposition and determine
how to maximize the selling price for this asset.  Formal marketing  efforts are
expected to commence during the second half of calendar 1998.

      At Regent's Walk,  the occupancy  level averaged 93% for the quarter ended
March  31,  1998,  compared  to 95% for the  prior  quarter.  The  Partnership's
management  and leasing team  attribute the change in the  occupancy  level to a
lack of prospective tenants looking to rent apartments in the winter months. The
Johnson  County  sector of the Kansas  City  apartment  market,  which  includes
Overland Park,  currently has over 20,000  apartment units, and occupancy levels
of approximately 95% have been maintained consistently since 1993. As previously
reported,  new apartment  construction  continues in the Southern  sector of the
Overland Park market area. These newly constructed units, which are located five
or more miles from  Regents  Walk,  are  typically  smaller  and do not  compete
directly with Regent's Walk. Nevertheless, they offer the appeal of contemporary
finishes  and new  systems and  appliances  as well as garage  parking,  fitness
centers and  elevators in many cases.  As a result,  the Regent's  Walk property
management   team  reports  that  until  the  new  apartment   communities   are
substantially leased, this new competition is likely to limit rental rate growth
throughout the overall market area.  Currently,  rental rate concessions are not
being  offered at Regent's  Walk,  and modest  rental rate  increases  are being
implemented  as new leases are signed and as leases are  renewed.  In  addition,
improvements to individual units continue to be made as incentives for residents
to renew their leases.  Such improvements  typically consist of some combination
of a new range, new vinyl kitchen flooring,  wallpaper and blinds, at an average
per unit cost of approximately  $500.  Management is currently  working with the
co-venture  partner to develop a program to further enhance the marketability of
the  property.   This  program  will  ultimately  include  improvements  to  the
landscaping,  signage,  parking and driveway  areas,  clubhouse,  common  areas,
building  exteriors  and  apartment  interiors.  The first phase of the program,
which has been completed,  focused on deferred  maintenance  items including the
replacement  of a number  of older  furnaces.  During  the  spring  and  summer,
landscaping  will be upgraded and the  concrete  driveways  and asphalt  parking
areas will be resurfaced. The Partnership's co-venture partner has contacted the
first  mortgage  lender and  requested  that the  payment for the  concrete  and
asphalt project be made from capital expenditure reserves,  which total $500,000
and are  controlled by the lender.  The $500,000  reserve was set aside from the
proceeds of the fiscal 1995 refinancing of the Regent's Walk property. The funds
were  intended to be used for the  remodeling  of kitchens and  bathrooms in the
apartment units. Management now believes that less substantial remodeling of the
kitchens and bathrooms is necessary and has requested  that the reserve funds be
made  available for  alternative  improvements  such as the driveway and parking
area project.  The lender has preliminarily  indicated a willingness to consider
alternative   uses  for  the  reserve   funds  pending  the  receipt  of  formal
reimbursement  requests  from the joint  venture which would be subject to their
approval.

      At March 31, 1998, the Partnership had available cash and cash equivalents
of approximately $1,956,000. Such cash and cash equivalents will be utilized for
Partnership  requirements such as the payment of operating expenses, the funding
of future operating deficits or capital  improvements at the joint ventures,  if
necessary,  as required by the  respective  joint  venture  agreements,  and for
distributions to the partners.  The source of future liquidity and distributions
to the partners is expected to be from cash generated from the operations of the
Partnership's  income-producing investment properties and proceeds from the sale
or refinancing of the remaining investment properties. Such sources of liquidity
are  expected  to be  sufficient  to  meet  the  Partnership's  needs  on both a
short-term and long-term basis.

Results of Operations
Three Months Ended March 31, 1998
---------------------------------

      The Partnership reported net income of $339,000 for the three months ended
March 31, 1998, as compared to net income of $161,000 for the same period in the
prior year. This increase in net income is the result of a $206,000  improvement
in  the  Partnership's  share  of  unconsolidated  ventures'  income  which  was
partially offset by a $28,000 increase in the Partnership's  operating loss. The
Partnership's  share  of  ventures'  income  increased  primarily  due to  lower
property operating  expenses at the Mall Corners,  Hurstbourne and Regent's Walk
properties in the current period.  Property  operating expenses decreased mainly
due to  reductions  in repairs  and  maintenance  expenses  at Mall  Corners and
Regent's  Walk,  decreases  in  management  fee  expenses at  Regent's  Walk and
Hurstbourne and a decrease in utilities expense at Hurstbourne.  These favorable
changes  in joint  venture  operating  results  were  partially  offset by small
declines in rental revenues at Mall Corners and Regent's Walk.

      The increase in the  Partnership's  operating loss resulted from a $10,000
decrease in interest  income, a $16,000 increase in management fees and a $2,000
increase in general and administrative expenses. The decrease in interest income
resulted from a reduction in the Partnership's  average outstanding cash reserve
balances  subsequent  to the special  distribution  made on February 14, 1997 of
certain  excess  cash  reserves,  as  discussed  further in the  Annual  Report.
Management  fees increased  during the current period as a result of an increase
in the  Partnership's  distributable  cash,  upon which the management  fees are
based.  General and administrative  expenses increased mainly due to an increase
in certain out-of-pocket expenses incurred by the Adviser in connection with the
management  of  the   Partnership's   real  estate  assets  during  the  current
three-month period.

Six Months Ended March 31, 1998
-------------------------------

      The  Partnership  reported net income of $524,000 for the six months ended
March 31, 1998 as compared to net income of $414,000  for the same period in the
prior year. This increase in net income is the result of a $182,000  increase in
the Partnership's  share of unconsolidated  ventures' income which was partially
offset by a $72,000 increase in the  Partnership's  operating loss. The increase
in the Partnership's  share of ventures' income was primarily due to an increase
in combined rental revenues and expense recoveries of $134,000 and a decrease in
interest expense of $29,000.  Rental revenues and expense  recoveries  increased
primarily  due to an increase in  reimbursements  and  percentage  rents at Mall
Corners.  Interest expense decreased due to the scheduled  principal payments on
all three of the outstanding mortgage loans.

      The increase in the  Partnership's  operating loss resulted from a $28,000
decrease in  interest  income,  a $33,000  increase  in  management  fees and an
$11,000  increase  in general  and  administrative  expenses.  The  decrease  in
interest  income  resulted  from  a  reduction  in  the  Partnership's   average
outstanding cash reserve balances subsequent to the special distribution made on
February 14, 1997 of certain excess cash reserves,  as discussed  further in the
Annual Report.  Management fees were higher in the current period as a result of
an increase in the Partnership's  distributable  cash, upon which the management
fees are based.  General and administrative  expenses increased mainly due to an
increase in certain out-of-pocket expenses incurred by the Adviser in connection
with the management of the Partnership's real estate assets.


<PAGE>


                                     PART II
                                Other Information


Item 1. Legal Proceedings    NONE

Item 2. through 5.           NONE

Item 6. Exhibits and Reports on Form 8-K

(a)  Exhibits: NONE

(b) Reports on Form 8-K:

     No reports on Form 8-K have been filed by the registrant during the quarter
for which this report is filed.


<PAGE>


          PAINE WEBBER INCOME PROPERTIES SIX LIMITED PARTNERSHIP


                                   SIGNATURES

     Pursuant  to the  requirements  of  Section  13 or 15(d) of the  Securities
Exchange Act of 1934, the  Partnership  has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized.


                       PAINE WEBBER INCOME PROPERTIES SIX
                               LIMITED PARTNERSHIP


                  By:  Sixth Income Properties Fund, Inc.
                       ----------------------------------
                       Managing General Partner




                              By:  /s/ Walter V. Arnold
                                   --------------------
                                   Walter V. Arnold
                                   Senior Vice President and Chief
                                   Financial Officer

Dated:  May 12, 1998