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 DECEMBER 31, 1997

                                       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
              December 31, 1997 and September 30, 1997 (Unaudited)
                                 (In thousands)

                                     ASSETS

                                                December 31  September 30
                                                -----------  ------------

Investments in joint ventures, at equity         $    3,623  $    4,183
Cash and cash equivalents                             2,099       1,918
                                                 ----------  ----------
                                                 $    5,722  $    6,101
                                                 ==========  ==========


                        LIABILITIES AND PARTNERS' CAPITAL

Accounts payable - affiliates                    $       16  $       16
Accrued expenses and other liabilities                   18          50
Partners' capital                                     5,688       6,035
                                                 ----------  ----------
                                                 $    5,722  $    6,101
                                                 ==========  ==========

              STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (DEFICIT)
        For the three months ended December 31, 1997 and 1996 (Unaudited)
                                 (In thousands)

                                                   General      Limited
                                                   Partners     Partners
                                                   --------     --------

Balance at September 30, 1996                       $(1,347)    $9,971
Cash distributions                                       (3)      (300)
Net income                                                3        250
                                                    -------     ------
Balance at December 31, 1996                        $(1,347)    $9,921
                                                    =======     ======

Balance at September 30, 1997                       $(1,353)    $7,388
Cash distributions                                       (6)      (526)
Net income                                                2        183
                                                    -------     ------
Balance at December 31, 1997                        $(1,357)    $7,045
                                                    ========    ======


                             See accompanying notes.


<PAGE>


             PAINE WEBBER INCOME PROPERTIES SIX LIMITED PARTNERSHIP

                              STATEMENTS OF INCOME
        For the three months ended December 31, 1997 and 1996 (Unaudited)
                      (In thousands, except per Unit data)

                                                      1997        1996
                                                      ----        ----

Revenues:
   Interest income                                 $    29       $   47

Expenses:
   Management fees                                      39           22
   General and administrative                           54           45
                                                   -------       ------
                                                        93           67
                                                   -------       ------
Operating loss                                        (64)          (20)

Partnership's share of ventures' income               249           273
                                                   ------        ------

Net income                                         $  185        $  253
                                                   ======        ======

Net income per
  Limited Partnership Unit                         $ 3.05        $ 4.17
                                                   ======        ======

Cash distributions per Limited
  Partnership Unit                                 $ 8.77        $ 5.00
                                                   ======        ======


   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 three months ended December 31, 1997 and 1996 (Unaudited)
                Increase (Decrease) in Cash and Cash Equivalents
                                 (In thousands)

                                                            1997       1996
                                                            ----       ----
Cash flows from operating activities:
   Net income                                             $   185     $   253
   Adjustments to reconcile net income to
     net cash used in operating activities:
      Partnership's share of ventures' income                (249)       (273)
      Changes in assets and liabilities:
      Accrued expenses and other liabilities                  (32)          -
                                                          -------     -------
        Total adjustments                                    (281)       (273)
                                                          -------     -------
        Net cash used in operating activities                 (96)        (20)

Cash flows from investing activities:
   Distributions from joint ventures                          816         715
   Cash contributions to joint ventures                       (7)           -
                                                          ------      -------
        Net cash provided by investing activities            809          715

Cash flows from financing activities:
   Cash distributions to partners                           (532)        (303)
                                                          ------      -------
Net increase in cash and cash equivalents                    181          392

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

Cash and cash equivalents, end of period                  $2,099      $ 3,610
                                                          ======      =======









                             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 December 31, 1997 and September 30, 1997 and revenues and
expenses for the three months ended  December 31, 1997 and 1996.  Actual results
could differ from the estimates and assumptions used.

2.  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 months
ended December 31, 1997 and 1996 are as follows:

                    CONDENSED COMBINED SUMMARY OF OPERATIONS
             For the three months ended December 31, 1997 and 1996
                                 (in thousands)

                                                 1997        1996
                                                 ----        ----
      Rental revenues and expense
         recoveries                           $  2,508    $  2,366
      Interest and other income                     10          10
                                              --------    --------
                                                 2,518       2,376

      Property operating expenses                  961         816
      Interest expense                             684         695
      Depreciation and amortization                624         588
                                              --------    --------
                                                 2,269       2,099
                                              --------    --------
      Net income                              $    249    $    277
                                              ========    ========

      Net income:
        Partnership's share of
          combined income                     $   249     $    277
        Co-venturers' share of 
          combined income                           -            -
                                              -------     --------
                                              $   249     $    277
                                              =======     ========

               Reconciliation of Partnership's Share of Operations
             For the three months ended December 31, 1997 and 1996
                                 (in thousands)

                                                1997        1996
                                                ----        ----

      Partnership's share of combined
        income, as shown above                $   249     $    277
      Amortization of excess basis                  -           (4)
                                              -------     --------
      Partnership's share of ventures'
        income                                $   249     $    273
                                              =======     ========
<PAGE>

3.  Related Party Transactions
    --------------------------

      The Adviser  earned total  management  fees of $39,000 and $22,000 for the
three-month  periods ended  December 31, 1997 and 1996,  respectively.  Accounts
payable - affiliates  at both  December 31, 1997 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
three-month  periods ended  December 31, 1997 and 1996 is $28,000,  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 three months
ended   December  31,  1997  and  1996  is  $1,000  and  $4,000,   respectively,
representing  fees  earned  by an  affiliate,  Mitchell  Hutchins  Institutional
Investors, Inc., for managing the Partnership's cash assets.

<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 December 31, 1997, the Mall Corners Shopping Center,  located in the
suburban Atlanta,  Georgia market, averaged 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 a significant  portion 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.  The property's leasing team is also actively marketing the other
large vacant space at the Center which comprises  10,218 square feet. The 10,218
and  16,530  square  foot  spaces  represent  90% of the total  space  currently
available  for lease at the Center.  As part of an effort to  generate  customer
traffic for the Center's other tenants during the holiday season,  both of these
large vacant  stores were leased on a temporary  basis for the first  quarter of
fiscal 1998. 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 then  reopened for an inventory  liquidation  sale,  after which it
will close  permanently.  Because Levitz is a sub-tenant of a national retailer,
the Mall  Corners  joint  venture  will  continue  to collect  rent on the store
through the expiration of the current lease term in 2001.  Additionally,  Toys R
Us closed its store  that  abuts the Mall  Corners  Shopping  Center  during the
fourth quarter. This store is located on a separate parcel of land owned by Toys
R Us.  The  store  was  closed  in order to  consolidate  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.  While the closing
of Toys R Us 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.  In calendar  years 1998 and
1999,  small  shop space  leases  representing  approximately  16,000 and 20,000
square feet, respectively, come up for renewal. Management's success in renewing
these tenants or re-leasing this space will be affected by what can be done with
the Toys R Us property and the Levitz space to enhance  shopper  traffic at Mall
Corners.  The property's  leasing team is seeking to work with Toys R Us and the
guarantor  of the  rent  for the  former  Levitz  Furniture  space  in  securing
replacement  tenants  that will  complement  the  existing  tenant  base at Mall
Corners.  Projects  completed during the first quarter of fiscal 1998 to enhance
the  appearance  of  the  Mall  Corners  property  included  an  upgrade  of the
landscaping at the Center's  entrances,  the painting of the rear of the Center,
the   repairing,   resealing  and   restriping  of  the  parking  lot,  and  the
steam-cleaning of the sidewalks.

      The occupancy level at the Hurstbourne Apartments,  located in Louisville,
Kentucky,  averaged 88% for quarter ended  December 31, 1997 compared to 90% for
the prior quarter. The primary reason for this decrease in average occupancy was
the  expiration  of the  leases  on 17  apartments  which  had been  leased by a
corporation.  The property's management team continues to offer selective rental
concessions on certain unit types in an effort to increase overall occupancy. In
order  to  enhance  Hurstbourne's   competitive  position  in  its  market,  the
property's  leasing  team has begun  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.  There is currently no new multi-family  construction
in the Louisville,  Kentucky submarket 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.

      At Regent's Walk,  the occupancy  level averaged 95% for the quarter ended
December  31, 1997  compared to 97% for the prior  quarter.  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. 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. Nonetheless, the
property's  management  team has  initiated a rental rate  increase  program for
renewing the leases of current residents who are paying  below-market rates. For
such  tenants,  rental rate  increases  upon renewal will be  approximately  5%.
Rental rate concessions are not currently being offered.  However,  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 our co-venture
partner  to  develop a program  to  further  enhance  the  marketability  of the
property.  The first phase of the program  will  include  the  replacement  of a
number of older  furnaces and  air-conditioning  systems.  During the spring and
summer,  landscaping  will be upgraded,  and parking areas and driveways will be
resurfaced.  The repair and  replacement  of the concrete  driveways and asphalt
parking  areas at  Regent's  Walk,  which was  originally  planned for the third
quarter  of  fiscal  1997,  has  been  temporarily  delayed.  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  and/or
the repair or  replacement  of  furnace  units at the  property.  The lender has
preliminarily  indicated  a  willingness  to consider  alternative  uses for the
reserve  funds  pending the receipt of a formal  proposal from the joint venture
which  would be  subject  to their  approval.  Management  of the joint  venture
intends to prepare and submit  such a proposal  to the lender  during the second
quarter of fiscal 1998.

      At  December  31,  1997,  the  Partnership  had  available  cash  and cash
equivalents of approximately $2,100,000.  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.
<PAGE>

Results of Operations
Three Months Ended December 31, 1997
------------------------------------

      The Partnership reported net income of $185,000 for the three months ended
December 31, 1997,  as compared to net income of $253,000 for the same period in
the prior year. This decrease in net income is the result of a $44,000  increase
in the Partnership's  operating loss and a $24,000 decrease in the Partnership's
share of ventures'  income.  The increase in the  Partnership's  operating  loss
resulted  from an $18,000  decline in interest  income  combined  with a $17,000
increase in management fees and a $9,000 increase in general and  administrative
expenses.  The  decline 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 during the current three-month period.

      The Partnership's share of ventures' income decreased by $24,000 primarily
due to higher property  operating  expenses and  depreciation  and  amortization
expense at the Mall Corners and  Hurstbourne  properties in the current  period.
Property  operating  expenses  increased mainly due additional costs incurred at
the Mall  Corners  property  during the  current  period to  repair,  reseal and
restripe  the  parking  lot.  Depreciation  and  amortization  increased  due to
additional  capital  expenditures  incurred at Hurstbourne and Mall Corners over
the past two years. These unfavorable changes in joint venture operating results
were partially offset by an increase in rental revenues at all three properties.
Rental  revenues at Mall Corners for the first quarter of fiscal 1998  increased
by 12% over the same  period in the prior year  primarily  due to  increases  in
reimbursements  and percentage rent. Rental revenues at Hurstbourne and Regent's
Walk were up 2% and 1%,  respectively,  despite  small  declines in occupancy at
both properties, due to increases in rental rates over the past year.


<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:  February 12, 1998