TABLE OF CONTENTS

                                                 Page


PART I        FINANCIAL INFORMATION

   Item 1     FINANCIAL STATEMENTS AND
              SUPPLEMENTARY DATA . . . . . . . . . . 1

   Item 2     MANAGEMENT'S DISCUSSION AND
              ANALYSIS OF FINANCIAL CONDITIONS
              AND RESULTS OF OPERATIONS . . . . . .  8



PART II       OTHER INFORMATION . . . .(Not Applicable)

   











     *********************************************** 
     * FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA *
     ***********************************************
                                               

         
         CENTURY PACIFIC TAX CREDIT HOUSING FUND II

                      BALANCE SHEET
                       (Unaudited)

                               December 31,    March 31,
                                   1997           1997
                              -------------    ---------
ASSETS

Cash                                   $369         $346      
Advance to General Partners             870          870 
Investments in Limited Part-
  nerships (Note 4)               1,056,244    1,248,195
                                  ---------    ---------
                                 $1,057,483   $1,249,411
                                 ==========   ==========
 
LIABILITIES AND PARTNERS' EQUITY

Accounts Payable and Accrued Expenses    $0       $7,324
Amounts Payable to Related Parties
  (Note 3)                        1,134,216    1,098,220 
Advance from Affiliates              40,593       40,593
                                  ---------    ---------
                                  1,174,809    1,146,137
                                  ---------    ---------

Partners' Equity, per accompanying
  statement
    General Partners                 (50,227)    (48,021) 
    Limited Partners                 (67,099)    151,295
                                     -------     -------
                                    (117,326)    103,274
                                     -------     -------

                                  $1,057,483  $1,249,411
                                  ==========  ==========

The accompanying notes are an integral part of this statement.

                         - Page 1 -














           CENTURY PACIFIC TAX CREDIT HOUSING FUND II

                      STATEMENT OF INCOME
                          (Unaudited)

                                     Three Months Ended    
                                        December 31, 
                                  1997            1996   
                               ----------      ----------

REVENUES:
  
  Other income                      $0              $400
                                  ----             -----
                                     0               400 
                                  ----             ----- 
EXPENSES:

  General & Adm. (Note 3)        9,906             9,428
  Equity in Net Losses of
    Operating Partnership
    (Note 4)                   101,095            25,016   
                                ------            ------
                               111,001            34,444
                                ------            ------
Net Loss                      $111,001           $34,044
                               =======           =======    


The accompanying notes are an integral part of this statement.

                         - Page 2 -















           CENTURY PACIFIC TAX CREDIT HOUSING FUND II

                STATEMENT OF PARTNERS' EQUITY
                      December 31, 1997
                         (Unaudited)


                            General      Limited
                            Partners     Partners      Total 
                            --------     --------    --------
Balance at March 31, 1997   ($48,021)    $151,295    $103,274

Net Income (Loss)             (2,206)    (218,394)   (220,600)
                            --------     --------    --------  
Equity (Deficit) at
  Dec.31, 1997             ($50,227)     ($67,099)  ($117,326)
                            =========    ========    ========

Percentage Interest
  Dec.31, 1997                   1%          99%        100%
                            =========    ========   =========


The accompanying notes are an integral part of this statement.

                           - Page 3 -









            CENTURY PACIFIC TAX CREDIT HOUSING FUND II

                    STATEMENT OF CASH FLOWS
                          (Unaudited)

                                     Three Months Ended
                                        December 31,
                                     1997         1996
                                   --------     -------- 
Cash Flow from Financing 
  Activities:
Increase (Decrease) in Amounts
  Payable to Related Parties        $12,872           $0
                                    -------       ------
  Net Cash Provided By Financing
  Activities                        $12,872           $0
                                    =======       ======
Cash Flow from Operating
  Activities:

Transfer Fee Income Received            $0           $400
General & Admin. Expenses           (9,906)           (28)
Increase(Decrease) in Accts Pay     (3,000)             0
                                    -------       -------
  Net Cash Used in Operating
    Activities                     ($12,906)         $372
                                    =======       =======

Net Increase (Decrease) in Cash
  and Cash Equivalents                ($34)          $372

Cash and Cash Equivalents at
  Beginning of Period                  403              0
                                    ------         ------
Cash and Cash Equivalents at
  End of Period                       $369           $372
                                    ======         ======  


The accompanying notes are an integral part of this statement.

                             - Page 4 -









           CENTURY PACIFIC TAX CREDIT HOUSING FUND II
               a California limited partnership

                  NOTES TO FINANCIAL STATEMENTS
            For the Quarter Ended December 31, 1997


NOTE 1 - DESCRIPTION OF THE PARTNERSHIP AND ITS ORGANIZATION:

Century Pacific Tax Credit Housing Fund II, a California limited
partnership (the "Partnership" or "CPTCHF II") was formed on
September 2, 1988 for the purpose of raising capital and selling
limited partnership interests and then acquiring limited
partnership interests in partnerships (the "Operating
Partnerships") owning and operating existing residential
apartment properties (the "Properties"). 

The general partners of the Partnership are Century Pacific
Capital II Corporation, a California corporation, ("CPII") and
Irwin Jay Deutch, an individual (collectively, the "General
Partners"). The General Partners and affiliates of the General
Partners (the "General Partners and Affiliates") have interest
in the Partnership and receive compensation from the Partnership
and the Operating Partnerships (Note 3).

The Properties qualify for the "Low-Income Housing Tax Credit"
established by Section 42 of the Tax Reform Act of 1986 (the
"Low-Income Housing Tax Credit"). These properties are leveraged
low-income multifamily residential complexes and some receive
one or more forms of assistance from federal, state or local
governments, or agencies (the "Government Agencies") while
others do not receive any subsidy from Government Agencies
although some may have mortgage loans insured by a Government
Agency.

In September 1988, the Partnership began raising capital from
sales of limited partnership interests, at $1,000 per unit. The
limited partnership offering closed as of December 31, 1989,
with 5,754 units having been sold.

As of March 31, 1992, the Partnership acquired limited
partnership interest of 90% in Washington Courts Limited
Partnership and 60% in Laurel-Clayton Limited Partnership, two
existing Operating Partnerships which own apartment rental
properties. 

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

Method of Accounting for Investments in Operating Partnerships

The Partnership uses the equity method to account for its
investment in the Operating Partnerships in which it has invested
(Note 4).

Under the equity method of accounting, the investment is carried
at cost and adjusted for the Partnership's share of the
Operating Partnerships' results of operations and by cash
distributions received. Equity in the loss of each Operating
Partnership allocated to the Partnership is not recognized to
the extent that the investment balance would become negative.

Basis of Accounting

The Partnership maintains its financial records on the tax basis.
Memorandum entries, while not recorded in the records of the
Partnership, have been made in the financial statements to
reflect generally accepted accounting principles.

                           - Page 5 -





On August 7, 1991, management of the Partnership changed from a
calendar year end to a fiscal year end of March 31 for financial
reporting purposes. Accordingly, the Partnership's quarterly
periods end June 30, September 30, and December 31. The
Operating Partnerships, for financial reporting purposes, have
a calendar year. The Partnership, as well as the Operating
Partnerships, have a calendar year for income tax purposes.

Syndication Costs

Public offering costs have been recorded as a direct reduction
to the capital accounts of the Limited Partners.

Organization, Acquisition and Other Costs

Costs incurred in organizing the Partnership and expenditures
made by the Partnership in connection with its acquiring limited
partnership interest in Operating Partnerships are deferred and
amortized over a period of sixty months on a straight-line basis
or capitalized as investments in Operating Partnerships. Other
fees and expenses of the Partnership are recognized as expenses
in the period the related services are received.

Income Taxes

No provision has been made for income taxes in the accompanying
financial statements since such taxes and/or the recapture of
the Low-Income Housing Tax Credits benefits received, if any,
are the liability of the individual partners. The Partnership
uses the accrual method of accounting for tax purposes.

Statement of Cash Flows - Cash and Cash Equivalents

For the purpose of the statement of cash flows, the Partnership
considers all highly liquid instruments purchased with an
original maturity date of three months or less to be cash
equivalents.



NOTE 3 -  TRANSACTIONS WITH THE GENERAL PARTNERS AND AFFILIATES
          OF THE GENERAL PARTNERS:

The General Partners of the Partnership are CPII and Irwin Jay
Deutch. Century Pacific Placement Corporation ("CPPC"), an
affiliate of the General Partners, served as the broker-dealer-
manager for sales of the limited partnership interests in the
Partnership. Century Pacific Realty Corporation ("CPRC"), an
affiliate of CPII, is a general partner in each of the Operating
Partnerships. The General Partners have an aggregate one percent
interest in the Partnership. CPRC has a one-half percent interest
in each of the Operating Partnerships.

The General Partners and their Affiliates receive compensation
and reimbursement of expenses from the Partnership, as set forth
in the limited partnership agreement, for their services in
managing the Partnership and its business. Pursuant to the
partnership agreement, the Partnership is required to pay CPII
an annual Management Fee for its services in connection with the
management affairs of the Partnership. The annual Management Fee
is equal to .5% of Invested Assets (as defined by the partnership
agreement). The General Partners and Affiliates also receive
compensation and reimbursement of expenses from the Operating
Partnerships. This compensation and reimbursement include
services provided to the Partnership during its offering stage,
acquisition stage and operational stage.

                               - Page 6 -







NOTE 4 -  INVESTMENTS IN OPERATING PARTNERSHIPS:

The following is a summary of the Partnership's investments in
Operating Partnerships:

                                             Nine Months Ended
                                               Dec.31, 1997
                                              ----------------
Cash Contribution to Operating
  Partnerships to fund purchase of
  beneficial interest in Properties             $4,536,020

Equity in net losses of Operating
  Partnerships                                  (3,479,776)
                                                -----------
                                                $1,056,244                     
                                                ==========

The Properties in which the Operating Partnerships hold
beneficial interests are as follows:

     Name of
Operating Partnership      Property Name       Location
---------------------      -----------------   -----------------
Washington Courts, L.P.    Washington Courts   Chicago, Illinois
Laurel-Clayton, L.P.       Plumley Village     Worcester,
                                               Massachusetts

The following combined statements of operations is prepared on
the accrual basis and summarizes the operations of the Operating
Partnerships for the nine months ended December 31, 1997 and 
December 31, 1996.

        COMBINED STATEMENT OF OPERATIONS OF PROPERTIES
        ACQUIRED BY THE OPERATING PARTNERSHIPS IN WHICH
     CENTURY PACIFIC TAX CREDIT HOUSING FUND II HAS INVESTED
                        (Unaudited)

                                 Three Months Ended
                                    December 31,
                                 1997            1996  
                             -------------   -------------
REVENUES:

  Rental Income                $1,281,903      $1,299,740
  Other                            17,597          56,093
                               ----------      ----------
                                1,299,500       1,355,833
                               ----------      ----------
EXPENSES:

  Operating, General
    and Administrative          1,059,906       1,132,684
  Depreciation                    255,882         249,299
  Interest                        127,973         127,184
                                ---------       ---------
                                1,443,761       1,509,167
                                ---------       ---------

Net Income (Loss)               ($144,261)      ($153,334)
                                ==========      =========   
                
                           - Page 7 -









               THIRD QUARTER 1997 PROPERTY SUMMARY


PLUMLEY VILLAGE - Worcester, Massachusetts

Plumley Village consists of 430 units situated on approximately
16 acres of land adjacent to Downtown Worcester. There is one 16
story high-rise and three low-rise structures on the site. The
property has good freeway access and is convenient to stores,
churches and hospitals.

The property's occupancy remained at a high 98% rate. Cash flow
was sufficient to cover operating expenses. Property rents were
last increased in May 1995, bringing the annual gross potential
rental revenue to approximately $4,292,000.


WASHINGTON COURTS - Chicago, Illinois

Washington Courts consists of 103 units on several sites in the
Austin neighborhood of Chicago. The property is convenient to
banks, schools, churches and commercial areas.

The property averaged a 90% occupancy rate during the quarter.
Cash flow was sufficient to cover operating expenses. Property
rents were increased 1.0% in May 1996, increasing the annual
gross potential rental revenue to approximately $1,059,000.



                            *   *   *


                            SIGNATURE

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


                       CENTURY PACIFIC TAX CREDIT HOUSING FUND II
                       a California limited partnership

                   By:   Century Pacific Capital II Corporation,
                         a California Corporation
                         General Partner




                   By:                                           
                         Irwin J. Deutch, President

                              - Page 8 -