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 June 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)

                                  June 30, 2003

<TABLE>
<CAPTION>

Assets
<S>                                                                           <C>
  Cash and cash equivalents                                                   $  1,565
  Receivables and deposits                                                         319
  Restricted escrows                                                               114
  Other assets                                                                     847
  Investment properties:
   Land                                                         $ 3,681
   Buildings and improvements                                     42,844
                                                                  46,525
   Less accumulated depreciation                                 (23,544)       22,981
                                                                              $ 25,826
Liabilities and Partners' (Deficiency) Capital
Liabilities
  Accounts payable                                                             $ 167
  Tenant security deposits                                                         156
  Accrued taxes                                                                    457
  Other liabilities                                                                208
  Due to general partner                                                           233
  Mortgage notes payable                                                        31,179

Partners' (Deficiency) Capital
  General partners                                               $ (931)
  Assignor limited partner                                             1
  Assignee unit holders (23,558 units outstanding)                (5,644)       (6,574)
                                                                              $ 25,826

            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         Six Months Ended
                                               June 30,                  June 30,
                                          2003          2002          2003        2002
Revenues:
<S>                                      <C>           <C>          <C>          <C>
  Rental income                          $ 1,842       $ 2,018      $ 3,595      $ 3,953
  Other income                               156           189          405          347
  Casualty gain                               38            --           38           --
      Total revenues                       2,036         2,207        4,038        4,300

Expenses:
  Operating                                1,076           820        1,955        1,648
  General and administrative                  23            20           71           42
  Depreciation                               460           368          919          853
  Interest                                   289           440          669          850
  Property taxes                             248           272          621          501
       Total expenses                      2,096         1,920        4,235        3,894

Net (loss) income                         $ (60)        $ 287        $ (197)      $ 406

Net (loss) income allocated to
  general partners (2%)                   $ (1)          $ 6          $ (4)        $ 8
Net (loss) income allocated to
  limited partner (98%)                      (59)          281         (193)         398

                                          $ (60)        $ 287        $ (197)      $ 406
Per assignee unit:
Net (loss) income                        $ (2.50)      $ 11.93      $ (8.19)     $ 16.89

Distribution per assignee unit           $395.36       $ 39.05      $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 six months
  ended June 30, 2003                   --        (4)           --            (193)        (197)

Partners' (deficiency) capital
  at June 30, 2003                  23,558    $ (931)        $ 1           $(5,644)     $(6,574)

            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>

                                                                     Six Months Ended
                                                                         June 30,
                                                                     2003         2002
Cash flows from operating activities:
<S>                                                                 <C>           <C>
  Net (loss) income                                                 $ (197)       $ 406
  Adjustments to reconcile net (loss) income to net cash
   provided by operating activities:
     Depreciation                                                       919          853
     Amortization of loan costs                                          29           34
     Casualty gain                                                      (38)          --
     Loss on early extinguishment of debt                                 6           --
     Changes in assets and liabilities:
      Receivables and deposits                                          450         (153)
      Other assets                                                     (171)         (56)
      Accounts payable                                                  109         (159)
      Tenant security deposits                                            8          (25)
      Due to general partner                                         (1,382)         130
      Accrued property tax                                              327          120
      Other liabilities                                                 (24)          64
          Net cash provided by operating activities                      36        1,214

Cash flows from investing activities:
  Property improvements and replacements                               (256)        (291)
  Net withdrawals from restricted escrows                               230          132
  Insurance proceeds received                                            48           --
          Net cash provided by (used in) investing activities            22         (159)

Cash flows from financing activities:
  Payments on mortgage notes payable                                   (200)        (262)
  Repayment of mortgage notes payable                              (15,726)           --
  Distributions to partners                                         (10,526)      (1,275)
  Loan cost paid                                                       (514)          --
  Proceeds from mortgage notes payable                               27,060           --
  Repayment of loan from affiliate                                     (385)        (199)
  Advances from affiliate                                               385           --
          Net cash provided by (used in) financing activities            94       (1,736)

Net increase (decrease) in cash and cash equivalents                    152         (681)
Cash and cash equivalents at beginning of period                      1,413        1,001

Cash and cash equivalents at end of period                          $ 1,565       $ 320

Supplemental disclosure of cash flow information:
  Cash paid for interest                                             $ 672        $ 804

            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 six months
ended June 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 six months ended June 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  $234,000 and $217,000 for the
six months ended June 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  $94,000 and $85,000 for
the six months ended June 30, 2003 and 2002,  respectively,  have been deferred.
During the six months ended June 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 June
30, 2003 totaled approximately $233,000.

An  affiliate  of  the  Managing  General  Partner  received  reimbursements  of
accountable  administrative  expenses  amounting  to  approximately  $48,000 and
$21,000 for the six months ended June 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
$14,000 for the six months ended June 30, 2002. No such fees were charged during
the same period in 2003. 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 six months ended June
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 six months ended June 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 six months  ended June 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 six months ended June 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 six months ended June 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 $38,000 during the six months ended June 30, 2003.

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 six
months ended June 30, 2003 and 2002:

                                                   Average Occupancy
      Property                                      2003       2002

      The Landings Apartments (1)                   88%        93%
        Indianapolis, Indiana
      Shadow Oaks Apartments                        96%        95%
        Tampa, Florida
      Raven Hill Apartments (2)                     89%        92%
        Burnsville, Minnesota
      Fairlane East Apartments                      88%        90%
        Dearborn, Michigan

(1)   The Managing General Partner  attributes the decrease in average occupancy
      at The Landings  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 loss for the three and six months ended June 30, 2003 was
approximately $60,000 and $197,000  respectively,  as compared to net income for
the three and six month  periods ended June 30, 2002 of  approximately  $287,000
and  $406,000  respectively.  The  decrease  in net income for the three and six
months  ended  June  30,  2003 is due to a  decrease  in total  revenues  and an
increase in total expenses.

The decrease in total revenues for the six months ended June 30, 2003 was due to
a decrease in rental income  partially offset by an increase in other income and
the  recognition  of a casualty  gain. For the three months ended June 30, 2003,
both  rental  income and other  income  decreased  from the same period in 2002.
These  decreases were partially  offset by the recognition of a casualty gain in
2003.  For both the three and six months  ended  June 30,  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. For the six months ended June
30, 2003, other income increased due to an increase in lease  cancellation  fees
and late charges at all of the  Partnership's  properties.  For the three months
ended June 30,  2003,  other  income  decreased  due to a decrease in  utilities
reimbursements at Fairlane East.

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 six months ended June 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 $38,000 during the six months ended June 30, 2003.

Total  expenses  increased  for the six  months  ended  June 30,  2003 due to an
increase in operating expenses,  depreciation and property tax expense offset by
a decrease in interest  expense.  Total expenses  increased for the three months
ended June 30, 2003 due to an increase in operating  and  depreciation  expenses
offset by a decrease in interest expense.  Operating expenses increased for both
periods due to an increase in advertising and leasing promotions, utilities, and
contract labor, primarily at Raven Hill and Fairlane East.  Depreciation expense
for both  periods  increased  primarily  at The  Landings  and Raven Hill due to
assets placed in service in the last 12 months.  Interest expense  decreased for
both  periods  due to the  refinancings  in  November  2002  and May 2003 of the
mortgages on all of the investment properties,  which resulted in lower interest
rates. Property tax expense increased for the six months ended June 30, 2003 due
to an  adjustment  of property  tax accruals  for the  Partnership's  investment
property located in Michigan.

Included  in general  and  administrative  expense  for the three and six months
ended  June 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,  due to changing  market
conditions,  which  can  result  in the use of  rental  concessions  and  rental
reductions to offset softening market conditions, there is no guarantee that the
Managing General Partner will be able to sustain such a plan.

Liquidity and Capital Resources

At June 30, 2003, the Partnership had cash and cash equivalents of approximately
$1,565,000  compared to  approximately  $320,000 at June 30, 2002. Cash and cash
equivalents increased  approximately  $152,000 for the six months ended June 30,
2003 due to  approximately  $94,000 of cash  provided by  financing  activities,
approximately $36,000 of cash provided by operating activities and approximately
$22,000 of cash  provided by investing  activities.  Cash  provided by financing
activities  consisted of proceeds from refinancing the mortgages at three of the
Partnership's  properties and loans from the Managing General Partner  partially
offset by distributions to the partners,  the repayment of the existing mortgage
notes, the repayment of advances from the Managing  General  Partner,  principal
payments on mortgage notes and new loan costs associated with the  refinancings.
Cash  provided by investing  activities  consisted  of the refund of  restricted
escrows maintained by the former mortgage lender and insurance proceeds received
partially offset by net property improvements and replacements.  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  six  months  ended  June  30,  2003,  the   Partnership   completed
approximately  $44,000  of  capital  improvements  at The  Landings  Apartments,
consisting  primarily of floor covering  replacements  and water heaters.  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 $9,000 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 anticipated cash flow generated by
the property.

Shadow Oaks Apartments

During  the  six  months  ended  June  30,  2003,  the   Partnership   completed
approximately  $39,000  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 $34,000 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  six  months  ended  June  30  2003,   the   Partnership   completed
approximately   $86,000  of  capital  improvements  at  Raven  Hill  Apartments,
consisting  primarily of fitness  equipment and 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  $56,000  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  six  months  ended  June  30,  2003,  the   Partnership   completed
approximately  $87,000 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  $7,000  in  capital
improvements  during the remainder of 2003. The additional capital  improvements
will consist primarily of floor covering and appliance replacements.  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  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.

The  Partnership's  assets are thought to be sufficient for any near-term  needs
(exclusive  of  capital   improvements)   of  the   Partnership.   The  mortgage
indebtedness  of  approximately  $31,179,000  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 six months ended
June 30, 2003 and 2002 (in thousands, except per unit data):
<TABLE>
<CAPTION>

                     Six Months      Per Limited        Six Months       Per Limited
                       Ended         Partnership          Ended          Partnership
                   June 30, 2003         Unit         June 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  refinancing 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 June 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 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  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 an impairment in 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 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 filed during the quarter ended June 30, 2003:

                  Current  report on Form 8-K dated May 8, 2003 and filed on May
                  23, 2003  disclosing  the  refinancing  of  mortgages  for The
                  Landings Apartments,  Raven Hill Apartments, and Fairlane East
                  Apartments.

                                   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/Thomas C. Novosel
                                    Thomas C. Novosel
                                    Senior Vice President
                                    and Chief Accounting Officer


                              Date: August 13, 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:  August 13, 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:  August 13, 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 June 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:  August 13, 2003


                                           /s/Paul J. McAuliffe
                                    Name:  Paul J. McAuliffe
                                    Date:  August 13, 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.