FORM 10-QSB.--QUARTERLY REPORT UNDER SECTION 13 OR 15(D) OF
                     THE SECURITIES EXCHANGE ACT OF 1934
                       QUARTERLY OR TRANSITIONAL REPORT


                   U.S. Securities and Exchange Commission
                           Washington, D.C.  20549


                                 FORM 10-QSB

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


                 For the quarterly period ended June 30, 1997


[  ]  TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES 
      EXCHANGE ACT

              For the transition period from.........to.........

                        Commission file number 0-10199


                        ANGELES PARK COMMUNITIES, LTD.
      (Exact name of small business issuer as specified in its charter)

         California                                           95-3558497
(State or other jurisdiction of                             (IRS Employer
incorporation or organization)                              Identification No.)

                 One Insignia Financial Plaza, P.O. Box 1089
                      Greenville, South Carolina 29602
                  (Address of principal executive offices)                


                               (864) 239-1000
                        (Issuer's telephone number)


Check whether the issuer (1) filed all reports required to be filed by Section
13 or 15(d) of the Exchange Act during the past 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

                        PART I - FINANCIAL INFORMATION

ITEM 1.  FINANCIAL STATEMENTS

a)                      ANGELES PARK COMMUNITIES, LTD.

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

                                June 30, 1997

Assets
  Cash and cash equivalents:
     Unrestricted                                                  $   333
     Restricted--tenant security deposits                                3
  Accounts receivable                                                    8
  Escrow for taxes                                                     128
  Other assets                                                         213
  Investment properties:
     Land                                            $ 1,043
     Buildings and related personal property           4,918
                                                       5,961
     Less accumulated depreciation                    (4,581)        1,380
                                                                   $ 2,065
  Liabilities and Partners' Deficit

  Liabilities
     Accounts payable                                              $    28
     Tenant security deposits payable                                    3
     Other liabilities                                                 266
     Mortgage note payable                                           4,893

  Partners' Deficit
     General partners'                               $  (163)
     Limited partners' (15,044 units issued
       and outstanding)                               (2,962)       (3,125)

                                                                   $ 2,065

         See Accompanying Notes to Consolidated Financial Statements

b)                          ANGELES PARK COMMUNITIES, LTD.

                            CONSOLIDATED STATEMENTS OF OPERATIONS
                                     (Unaudited)
                           (in thousands, except unit data)
<TABLE>
<CAPTION>
                                      Three Months Ended         Six Months Ended
                                           June 30,                  June 30,
                                     1997           1996        1997          1996
<S>                                <C>           <C>          <C>           <C>
Revenues:
 Rental income                      $  493        $  468       $1,005        $  972
 Other income                           11            11           18            28
 Bad debt recovery, net                 --             5           --             5
   Total revenues                      504           484        1,023         1,005

Expenses:
 Operating                             221           190          389           367
 General and administrative             47            49           90            90
 Maintenance                            43            43           80            66
 Depreciation                           18            80           35           161
 Interest                              124           125          248           250
 Property taxes                         54            53          108           107
   Total expenses                      507           540          950         1,041

   Net (loss) income                $   (3)       $  (56)      $   73        $  (36)

Net (loss) income allocated
 to general partners (1%)           $   --        $   (1)      $    1        $   --
Net (loss) income allocated
 to limited partners (99%)              (3)          (55)          72           (36)

                                    $   (3)       $  (56)      $   73        $  (36)

Net (loss) income per limited
 partnership unit                   $ (.20)       $(3.64)      $ 4.79        $(2.39)
<FN>
            See Accompanying Notes to Consolidated Financial Statements
</TABLE>

c)                          ANGELES PARK COMMUNITIES, LTD.

                CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' DEFICIT
                                     (Unaudited)
                           (in thousands, except unit data)
<TABLE>
<CAPTION>
                                    Limited
                                  Partnership    General       Limited
                                     Units      Partners'     Partners'    Total
<S>                                <C>         <C>            <C>        <C>
Original capital contributions      15,112      $     1        $15,112    $15,113

Partners' deficit at
  December 31, 1996                 15,044      $  (164)       $(3,034)   $(3,198)

Net income for the six
  months ended June 30, 1997            --            1             72         73

Partners' deficit at
  June 30, 1997                     15,044      $  (163)       $(2,962)   $(3,125)
<FN>
            See Accompanying Notes to Consolidated Financial Statements
</TABLE>

d)                      ANGELES PARK COMMUNITIES, LTD.

                   CONSOLIDATED STATEMENTS OF CASH FLOWS
                                (Unaudited)
                              (in thousands)
<TABLE>
<CAPTION>
                                                               Six Months Ended
                                                                   June 30,
                                                               1997         1996
<S>                                                        <C>          <C>
Cash flows from operating activities:
  Net income (loss)                                         $   73       $  (36)
  Adjustments to reconcile net income (loss) to
    net cash provided by operating activities:
    Depreciation                                                35          161
    Amortization of loan costs                                  25           25
    Bad debt recovery, net                                      --           (5)
    Change in accounts:
       Restricted cash                                          --          (12)
       Accounts receivable                                      16            3
       Escrows for taxes                                      (110)         (89)
       Other assets                                             (3)          --
       Accounts payable                                        (25)          17
       Tenant security deposit payable                          --           12
       Other liabilities                                        85           53

         Net cash provided by operating activites               96          129

Cash flows used in investing activities:
  Property improvements and replacements                       (89)         (53)

Cash flows used in financing activities:
  Mortgage principal payments                                  (21)         (19)

Net (decrease) increase in unrestricted cash and
   cash equivalents                                            (14)          57

Unrestricted cash and cash equivalents at beginning
   of period                                                   347          181

Unrestricted cash and cash equivalents at end of period     $  333       $  238

Supplemental disclosure of cash flow information:
  Cash paid for interest                                    $  223       $  225
<FN>
         See Accompanying Notes to Consolidated Financial Statements
</TABLE>

e)                      ANGELES PARK COMMUNITIES, LTD.

                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                 (Unaudited)


NOTE A - BASIS OF PRESENTATION

The accompanying unaudited financial statements of Angeles Park Communities,
Ltd. (the "Partnership") 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 Angeles Realty 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
month periods ended June 30, 1997, are not necessarily indicative of the results
that may be expected for the fiscal year ending December 31, 1997.  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, 1996.

Certain reclassifications have been made to the 1996 information to conform to
the 1997 presentation.


NOTE B - TRANSACTIONS WITH AFFILIATED PARTIES

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 payments to
affiliates for services and as reimbursement of certain expenses incurred by
affiliates on behalf of the Partnership.  The following amounts were incurred by
the Managing General Partner and affiliates during the six month periods ended
June 30, 1997 and 1996 (in thousands):


                                                              1997        1996

  Property management fees (included in operating expenses)   $ 52        $ 50
  Reimbursement for services of affiliates
    (included in general and administrative expenses)           64          60


The Partnership insures its properties under a master policy through an agency
and insurer unaffiliated with the Managing General Partner.  An affiliate of the
Managing General Partner acquired, in the acquisition of a business, certain
financial obligations from an insurance agency which was later acquired by the
agent who placed the current year's master policy.  The current agent assumed
the financial obligations to the affiliate of the Managing General Partner who
receives payments on these obligations from the agent.  The amount of the
Partnership's insurance premiums accruing to the benefit of the affiliate of the
Managing General Partner by virtue of the agent's obligations is not
significant.

ITEM 2.    MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

The Partnership's investment properties consist of one mobile home park and one
recreational vehicle park.  The following table sets forth the average occupancy
of the properties for each of the six month periods ended June 30, 1997 and
1996:


                                                Average Occupancy
Property                                       1997           1996

Cloverleaf Farms, Mobile Home Park              99%          99%
  Brooksville, Florida

Cloverleaf Forest, Recreational                 79%          74%
  Vehicle Park
  Brooksville, Florida (1)

(1)  This is a normal average occupancy for this property for this time of the
     year due to many tenants returning to their summer homes which are located
     in cooler climates.  Occupancy should increase again in the fall and winter
     months.  The increase in the average occupancy is primarily due to
     increased marketing efforts.

For the three and six months ended June 30, 1997, the Partnership generated a
net loss of $3,000 and net income of $73,000 versus a net loss of $56,000 and
$36,000 for the corresponding periods in 1996.  The increase in net income is
primarily due to a decrease in depreciation expense. The decrease in
depreciation expense is due to a major building and improvement at the
Cloverleaf Farms property becoming fully depreciated at December 1996.  For the
six months ended June 30, 1997, the decrease in depreciation expense was
partially offset by a decrease in other income and an increase in maintenance
expense. The decrease in other income is primarily due to a decrease in deposit
forfeitures at both investment properties.  Maintenance expense increased due to
an increase in contract yards and grounds expense at Cloverleaf Farms and an
increase in exterior building repairs.  Major repairs and maintenance incurred
by the investment properties were insignificant for each of the six month
periods ended June 30, 1997 and 1996.

As part of the ongoing business plan of the Partnership, the Managing General
Partner monitors the rental market environment of each of its investment
properties to assess the feasibility of increasing rents, maintaining or
increasing occupancy levels and protecting the Partnership from increases in
expense.  As part of this plan, the Managing General Partner attempts to protect
the Partnership from 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.

At June 30, 1997, the Partnership had unrestricted cash and cash equivalents of
$333,000 versus $238,000 at June 30, 1996.  The decrease in cash provided by
operating activities is primarily due to a decrease in accounts payable due to
the timing of payments.  The increase in cash used in investing activities is
attributable to an increase in spending on capital improvements and
replacements. Cash used in financing activities remained relatively consistent.

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.  The mortgage indebtedness
of $4,893,000 is being amortized over 30 years with a balloon payment of
$4,692,000 due in July 2001, at which time the properties will either be
refinanced or sold.  In the fourth quarter of 1996, the Managing General Partner
received a purchase offer from the homeowners association of Cloverleaf Farms.
The Managing General Partner has rejected the purchase offer and extended a
counteroffer to the homeowners association.  Future cash distributions will
depend on the levels of net cash generated from operations, property sales and
the availability of cash reserves.  There were no cash distributions during each
of the six month periods ended June 30, 1997 and 1996.

                         PART II - OTHER INFORMATION


ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K

          a) Exhibits:  Exhibit 27, Financial Data Schedule.

          b) Reports on From 8-K:  None filed during the quarter ended June 30,
             1997.


                                  SIGNATURES


In accordance with the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.



                              ANGELES PARK COMMUNITIES, LTD.

                              By:   Angeles Realty Corporation
                                    Its Managing General Partner


                              By:   /s/ Carroll D. Vinson
                                    Carroll D. Vinson
                                    President and Director


                              By:   /s/ Robert D. Long, Jr.
                                    Robert D. Long, Jr.
                                    Vice President and Chief Accounting 
                                    Officer


                              Date: August 5, 1997