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FORM 10-Q

SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

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

For the quarter ended September 30, 2001

Commission file number 33-18756

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ASSISTED HOUSING FUND L.P.   I(Exact name of registrant as specified in its charter)

Washington(State of organization)

91-1391150(IRS Employer
Identification No.)


1191 Second Avenue, Suite 904, Seattle, WA 98101(Address of principal executive offices) (Zip code)

Registrant's
telephone number, including area code:(206) 461-4782

Securities registered pursuant to Section 12(b) of the Act:None

Securities registered pursuant to Section 12(g) of the Act:

Units of Limited Partnership Interest(Title of class)

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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 / /

The Exhibit Index appears at page 13.
There are 13 pages.

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Part I.  Financial Information

Item 1.  Financial Statements

ASSISTED HOUSING FUND L.P.  I AND SUBSIDIARIES        BALANCE SHEETS

|                                           |                                | September 30,
2001 |            | December 31,
2000 |  
|------------------------------------------ | ------------------------------ | ------------------ | ---------- | ----------------- | -
|
|ASSETS                                     |                                |                    |            |                   |  
|Rental property and equipment, at cost:    |                                |                    |            |                   |  
|                                           | Buildings and equipment        |                    | $          | 15,865,074        |  
|                                           | Less accumulated depreciation  |                    |            | (7,160,332        | )
|                                           |                                |                    |            |                   |  
|                                           |                                |                    | 8,704,742  |                   |  
|                                           | Land                           |                    |            | 723,111           |  
|                                           |                                |                    |            |                   |  
|                                           |                                |                    | 9,427,853  |                   |  
|Cash and cash equivalents:                 |                                |                    |            |                   |  
|                                           | Rental operation               |                    |            | 192,496           |  
|                                           | AHF reserves                   |                    |            | 25,417            |  
|                                           |                                |                    |            |                   |  
|                                           |                                |                    | 217,913    |                   |  
|Restricted deposits:                       |                                |                    |            |                   |  
|                                           | Tenant trustsecurity deposits |                    |            | 108,211           |  
|                                           | Reserve accounts               |                    |            | 689,799           |  
|                                           |                                |                    |            |                   |  
|                                           |                                |                    | 798,010    |                   |  
|Other assets:                              |                                |                    |            |                   |  
|                                           | Accounts receivable            |                    |            | 100,084           |  
|                                           | Prepaid expenses               |                    |            | 23,108            |  
|                                           |                                |                    |            |                   |  
|                                           |                                |                    | 123,192    |                   |  
|                                           |                                |                    |            |                   |  
|                                           |                                | $                  | 10,566,968 |                   | $
|                                           |                                |                    |            |                   |  
|LIABILITIES AND PARTNERS' EQUITY (DEFICIT) |                                |                    |            |                   |  
|Liabilities:                               |                                |                    |            |                   |  
|                                           | Mortgage notes payable         |                    | $          | 12,257,798        |  
|                                           | Accounts payable               |                    |            | 303,705           |  
|                                           | Due to affiliate               |                    |            | 692,472           |  
|                                           | Accrued liabilities            |                    |            | 158,225           |  
|                                           | Security deposits payable      |                    |            | 113,125           |  
|                                           |                                |                    |            |                   |  
|                                           |                                |                    | 13,525,325 |                   |  
|Minority interests in partnerships         |                                |                    | 421,707    |                   |  
|Partners' equity (deficit):                |                                |                    |            |                   |  
|                                           | Limited partners               |                    |            | (3,315,056        | )
|                                           | General partner                |                    |            | (65,008           | )
|                                           |                                |                    |            |                   |  
|                                           |                                |                    | (3,380,064 | )                 |  
|                                           |                                |                    |            |                   |  
|                                           |                                | $                  | 10,566,968 |                   | $
|                                           |                                |                    |            |                   |  

See
notes to financial statements

2

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ASSISTED HOUSING FUND L.P.  I AND SUBSIDIARIES        STATEMENT OF PARTNERS' EQUITY (DEFICIT)

|                                               |  | Limited
Partners |            | General
Partner |    | Total   |  
|---------------------------------------------- |  | ---------------- | ---------- | --------------- | -- | ------- | -
|BalanceDecember 31, 1998                      |  |                  | (1,964,910 | )               |    | (51,370 | )
|Net Income (loss) for 1999                     |  |                  | (508,090   | )               |    | (5,132  | )
|                                               |  |                  |            |                 |    |         |  
|BalanceDecember 31, 1999                      |  |                  | (2,473,000 | )               |    | (56,502 | )
|Net income (loss) for 2000                     |  |                  | (452,898   | )               |    | (4,575  | )
|                                               |  |                  |            |                 |    |         |  
|Balance December 31, 2000                      |  |                  | (2,925,898 | )               |    | (61,077 | )
|Net income (loss) for Sept 30 2001 (Unaudited) |  |                  | (389,158   | )               |    | (3,931  | )
|                                               |  |                  |            |                 |    |         |  
|BalanceSept 30, 2001 (Unaudited)              |  | ($               | 3,315,056  | )               | ($ | 65,008  | )
|                                               |  |                  |            |                 |    |         |  

See
notes to Financial Statements

3

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ASSISTED HOUSING FUND L.P.  I AND SUBSIDIARIES        STATEMENTS OF OPERATIONS

|                                                           |                                                    | Quarter
Ended
Sept 30,
2001 |         | Nine Months
Ended
Sept 30,
2001 |           | Quarter
Ended
Sept 30,
2000 |          | Nine Months
Ended
Sept 30,
2000 |        
|---------------------------------------------------------- | -------------------------------------------------- | --------------------------- | ------- | ------------------------------- | --------- | --------------------------- | -------- | ------------------------------- | -------
|
|Revenue:                                                   |                                                    |                             |         |                                 |           |                             |          |                                 |        
|                                                           | Rental                                             |                             | 410,363 |                                 | $         | 1,200,417                   |          | $                               | 394,164
|                                                           | Miscellaneous                                      |                             | 21,721  |                                 |           | 57,281                      |          |                                 | 13,622 
|                                                           |                                                    |                             |         |                                 |           |                             |          |                                 |        
|                                                           |                                                    | 432,084                     |         |                                 | 1,257,698 |                             |          | 407,786                         |        
|Expenses:                                                  |                                                    |                             |         |                                 |           |                             |          |                                 |        
|                                                           | Operating & maintenance                            |                             | 95,177  |                                 |           | 250,641                     |          |                                 | 75,295 
|                                                           | Utilities                                          |                             | 65,342  |                                 |           | 222,376                     |          |                                 | 63,303 
|                                                           | General & administrative                           |                             | 92,918  |                                 |           | 318,946                     |          |                                 | 99,335 
|                                                           | Taxes                                              |                             | 63,144  |                                 |           | 197,794                     |          |                                 | 39,511 
|                                                           | Insurance                                          |                             | 11,941  |                                 |           | 33,411                      |          |                                 | 11,118 
|                                                           | Interest on mortgage notes                         |                             | 69,461  |                                 |           | 211,524                     |          |                                 | 78,400 
|                                                           | Depreciation                                       |                             | 137,427 |                                 |           | 390,873                     |          |                                 | 142,399
|                                                           | Miscellaneous                                      |                             | 4,468   |                                 |           | 11,375                      |          |                                 | 222    
|                                                           |                                                    |                             |         |                                 |           |                             |          |                                 |        
|                                                           |                                                    | 539,878                     |         |                                 | 1,636,940 |                             |          | 509,583                         |        
|                                                           |                                                    | (107,794                    | )       |                                 | (379,242  | )                           |          | (101,797                        | )      
|Other income (expenses):                                   |                                                    |                             |         |                                 |           |                             |          |                                 |        
|                                                           | Interest earned on escrow accounts & cash reserves |                             | 47      |                                 |           | 259                         |          |                                 | 80     
|                                                           | Minority interest                                  |                             | 6,371   |                                 |           | 19,661                      |          |                                 | 6,300  
|                                                           | General & administrative                           |                             | (2,875  | )                               |           | (32,009                     | )        |                                 | (2,405 
|                                                           | Partnership management Fees                        |                             | (895    | )                               |           | (1,758                      | )        |                                 | (724   
|                                                           | Amortization of organization & start-up costs      |                             | 0       |                                 |           | 0                           |          |                                 | 0      
|                                                           |                                                    |                             |         |                                 |           |                             |          |                                 |        
|                                                           |                                                    | 2,648                       |         |                                 | (13,847   | )                           |          | 3,251                           |        
|                                                           |                                                    |                             |         |                                 |           |                             |          |                                 |        
|                                                           |                                                    | Net income (loss)           |         | (105,146                        | )         |                             | (393,089 | )                               |        
|                                                           |                                                    |                             |         |                                 |           |                             |          |                                 |        
|Net income (loss) per unit of limited partnership interest |                                                    | (148                        | )       |                                 | (554      | )                           |          | (139                            | )      
|                                                           |                                                    |                             |         |                                 |           |                             |          |                                 |        

See
notes to Financial Statements

4

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ASSISTED HOUSING FUND L.P.  I AND SUBSIDIARIES        STATEMENTS OF CASH FLOWS

|                                                     |                                                                                   | Nine Months
Ended
Sept 30,
2001 |                     | Nine Months
Ended
Sept 30,
2000 |        
|---------------------------------------------------- | --------------------------------------------------------------------------------- | ------------------------------- | ------------------- | ------------------------------- | -------
|
|Cash flows from operating activities:                |                                                                                   |                                 |                     |                                 |        
|                                                     | Net Income (loss)                                                                 |                                 |                     | (393,089                        | )      
|                                                     | Adjustments to reconcile net (loss) to net cash provided by operating activities: |                                 |                     |                                 |        
|                                                     |                                                                                   | Depreciation                    |                     |                                 | 390,873
|                                                     |                                                                                   | Minority interest in operations |                     |                                 | (19,661
|                                                     |                                                                                   | Decrease (increase) in:         |                     |                                 |        
|                                                     |                                                                                   |                                 | Accounts receivable |                                 |        
|                                                     |                                                                                   |                                 | Prepaid expenses    |                                 |        
|                                                     |                                                                                   | Increase (decrease) in:         |                     |                                 |        
|                                                     |                                                                                   |                                 | Accounts payable    |                                 |        
|                                                     |                                                                                   |                                 | Accrued liabilities |                                 |        
|                                                     |                                                                                   |                                 | Due to affiliates   |                                 |        
|                                                     |                                                                                   |                                 |                     |                                 |        
|                                                     | Net cash provided by operating activities                                         |                                 |                     | (8,349                          | )      
|Cash flows from investing activities:                |                                                                                   |                                 |                     |                                 |        
|                                                     | Acquisition and construction of rental property                                   |                                 |                     | (28,814                         | )      
|                                                     | Decrease (increase) in restricted deposits                                        |                                 |                     | 48,178                          |        
|                                                     | Security deposits payable                                                         |                                 |                     | 8,768                           |        
|                                                     |                                                                                   |                                 |                     |                                 |        
|                                                     | Net cash provided (used) in investing activities                                  |                                 |                     | 28,132                          |        
|Financing activities:                                |                                                                                   |                                 |                     |                                 |        
|                                                     | Minority partners' capital contributions                                          |                                 |                     | (77                             | )      
|                                                     | Mortgage principal payments                                                       |                                 |                     | (29,356                         | )      
|                                                     |                                                                                   |                                 |                     |                                 |        
|                                                     | Net cash provided by financing activities                                         |                                 |                     | (29,433                         | )      
|                                                     |                                                                                   |                                 |                     |                                 |        
|Net increase (decrease) in cash and cash equivalents |                                                                                   |                                 | (9,650              | )                               |        
|Cash and cash equivalentsbeginning of year          |                                                                                   |                                 | 227,563             |                                 |        
|                                                     |                                                                                   |                                 |                     |                                 |        
|Cash and cash equivalentsend of period              |                                                                                   | $                               | 217,913             |                                 | $      
|                                                     |                                                                                   |                                 |                     |                                 |        
|Supplemental disclosure of cash flow information:    |                                                                                   |                                 |                     |                                 |        
|                                                     | Cash paid during the period for interest (net of amounts capitalized)             |                                 | $                   | 211,524                         |        
|                                                     |                                                                                   |                                 |                     |                                 |        

See
notes to Financial Statements

5

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(Unaudited)        ASSISTED HOUSING FUND L.P.  I AND SUBSIDIARIES        NOTES TO CONSOLIDATED FINANCIAL STATEMENTS        For the Quarter Ended
September 30, 2001

1.  General

The unaudited financial statements presented herein have been prepared in accordance with the instructions to Form 10-Q and do not include
all of the information and note disclosures required by generally accepted accounting principles. These statements should be read in conjunction with financial statements and notes thereto included
with the Partnership's Form 10-K for the year ended December 31, 2000. In the opinion of management, these financial statements include all adjustments, consisting only of
normal recurring adjustments, necessary to present fairly the Partnership's financial position and
results of operations. The results of operations for the periods may not be indicative of the results to be expected for the year.

Assisted
Housing Fund L.P. I (the Partnership) is a limited partnership which was organized November 2, 1987 under the laws of the state of Washington to acquire limited
partnership interests in other partnerships (the Property Partnerships), each of which has been organized to develop or purchase a low- or moderate-income apartment complex. The
Partnership's general partner is Murphey Favre Properties, Inc. (MFP), a wholly-owned subsidiary of WM Financial, Inc., which is a wholly-owned subsidiary of Washington Mutual Bank
(WMB).

The
Partnership completed its public offering of limited partnership interests and commenced operations on April 14, 1989. Prior to that date, the Partnership's activities
consisted solely of purchasing limited partnership interests in Property Partnerships which were in the development process. As of December 31, 2000, 334 limited partners held the 703 units of
limited partnership interests outstanding.

The
Partnership has invested as a limited partner in eleven Property Partnerships. The developer of each apartment complex serves as the general partner (DGP) of the respective
Property Partnership. Additionally, a wholly-owned subsidiary of MFP, Murphey Favre Housing Managers (MFHM), is a special limited partner in each Property Partnership. MFHM has the right to oversee
the management of each Property Partnership and has certain approval rights over the actions of each DGP.

The
Partnership Agreement for each Property Partnership sets forth the allocations of profits, losses and distributions of net cash flow from operations or from sale or refinancing of
the rental property.

The
properties owned by the Property Partnerships were financed and constructed under Section 515 of the National Housing Act, as amended (administered by Farmer's Home
Administration, now known as Rural Housing Services (RHS)). Under this program, the Property Partnerships provide housing to low- and moderate-income families. Lower rental charges to
tenants are recovered by the Property Partnerships through an interest reduction program which reduces the effective interest rate over the lives of the mortgages to 1 percent and a rental
assistance program whereby RHS pays the Property Partnerships for a portion of qualified tenant rents.

Construction
of the rental properties began in June, 1988 and all were completed by January 31, 1991. Rental operations began in April, 1989.

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2.  Summary of Significant Accounting Policies

The
consolidated financial statements, include the financial statements of the Partnership and eleven Property Partnerships: Fairview Apartments Company Limited Partnership
(Fairview); Ionia Limited Dividend Housing Association Limited Partnership (Ionia); Logan Apartments Company Limited Partnership (Logan); Rolling Brook II Limited Dividend Housing Association Limited
Partnership (Rolling Brook); Wexford Manor Limited Dividend Housing Association Limited Partnership (Wexford); Blue Heron Apartment Associates Limited Partnership (Blue Heron); Glenwood Apartment
Associates Limited Partnership (Glenwood); Pacific Place Apartment Associates Limited Partnership (Pacific Place); Cove Limited Dividend Housing Association Limited Partnership (Cove); Washington
Street Limited Dividend Housing Association Limited Partnership (Washington); and, Fayette Hills Limited Partnership (Fayette).

All
material interpartnership transactions and balances have been eliminated. The minority partners' interests in the losses of the Property Partnerships, which aggregate $56,339 and
$52,753 as of September 30, 2001 and December 31, 2000, respectively, are included in other income.

The
partnership agreements for the Property Partnerships require the DGP's to fund cost overruns on the development of the rental properties. As of September 30, 2001 and
December 31, 2000, $589,462 of such cost overruns have been recorded as capital contributions from DGP's and have been included in the cost basis of the rental property. All depreciation
related thereto has been specially allocated to the respective DGP's.

Building shell and components

27.5 yearsLand improvements

15 yearsAppliances

10 yearsCarpets and draperies

10 years


Depreciation
is computed for income tax purposes using the modified-accelerated-cost-recovery-system (MACRS).

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3.  Transactions with Affiliates

In connection with the offering of units of limited partnership interest, the acquisition and development of rental property and the management of both the
rental property and the Partnership, the Partnership and Property Partnerships have paid or accrued the following amounts to certain affiliates:

Quarter Ended
Sept 30, 2001

Year Ended
Dec 31, 2000Murphey Favre Properties, Inc.Partnership service fee

$
1,875

$
7,500Developer general partners and affiliatesProperty management fees


31,841


137,289


The
Partnership maintains deposits in certain of WMB's interest-bearing accounts which aggregated $25,417 and $13,148 at September 30, 2001 and
December 31, 2000, respectively. Interest earned on such deposits totaled $47 and $504 during the quarter ended September 30, 2001 and year ended December 31, 2000, respectively.
Terms of the RHS Loan Agreements require each DGP to provide interest-free advances of stipulated amounts as initial operating capital to the Property Partnerships. Due to affiliates
includes $152,107 of such advances at September 30, 2001 and December 31, 2000, respectively which will be repaid or from the proceeds of future sales of the respective Properties. The
balance includes DGP advances of $35,468 for land improvements and $14,209 to fund operating deficits. The remaining balance due to affiliates includes program management fees and reimbursements
payable to MFP.

Under
the terms of management services agreements, seven of the eleven Property Partnerships have affiliates of the DGP's which provide management services for the rental properties
and receive compensation for such services in amounts approximating 8.4% of rental receipts. Three of the eleven Property Partnerships are co-managed by affiliates of the DGP's which
provide management services for the rental properties and receive compensation for such services in amounts approximating 2.8% of rental receipts.

4.  Cash in Reserve Accounts

The Loan Agreements between the Property Partnerships and RHS require the Property Partnerships to deposit into separate reserve accounts (savings accounts)
$126,889 annually until the reserve accounts reach $1,268,211. With the prior approval of RHS, these funds can be used for: (1) loan debt service, if operating funds cannot meet these
obligations: (2) repairs and replacements

8

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caused by catastrophe or long-range depreciation; (3) improvements or extensions to the buildings; and, (4) any other reason RHS determines will promote or be beneficial to
the purpose of the loans.

5.  Mortgage Notes Payable

The mortgage notes are payable to RHS in monthly installments stated in the table below. In accordance with provisions of Interest Credit Agreements, RHS
provides monthly interest credits which reduce the interest rates stated in the mortgage notes to effective rates of 1 percent over the lives of the mortgages. Amortization of principal is
based on the stated rates of 8.75% to 10.75% under RHS's Predetermined Amortization Schedule System (PASS). Substantially all of the rental property and equipment is pledged as collateral on the
mortgages. No partner is personally liable on the mortgage notes.

Amendments
enacted in 1979 and 1987 to Section 515 of the National Housing Act contain restrictive provisions for prepayment of Section 515 loans. In summary, RHS may
refuse offers to prepay the mortgage notes and require that the projects be used for the purpose of housing those eligible, as provided in Section 515, for a period of 20 years.

The
loan balances, net monthly payments, and due dates for each Property Partnership are as follows:

Net Monthly
Payment

Loan Balance
Sept 30, 2001

Due DateFairview

$
2,744

$
1,268,006

April, 2040Ionia


1,532


706,988

October, 2040Logan


2,142


991,082

March, 2041Rolling Brook


1,614


744,012

June, 2040Wexford


1,567


722,266

April, 2040Blue Heron


3,173


1,462,604

June, 2040Glenwood


3,111


1,432,114

May, 2039Pacific Place


1,632


754,309

June, 2039Cove


3,092


1,424,729

April, 2040Washington


1,545


710,091

May, 2040Fayette


4,398


2,041,597

December, 2039Total

$
26,550

$
12,257,798


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Principal
Payments on the mortgage notes for the next 5 years are as follows:

Year

Amounts2001


5,7722002


38,4222003


42,0292004


46,3032005


50,2942006 and later years


12,074,978$
12,257,798


6.  Limited Distributions to Partner

Limited distributions payable from funds provided by rental operations of the Property Partnerships are limited by the Loan Agreements to eight percent per
year of the Property Partnerships' initial equity, as determined by the RHS. Current RHS regulations limit the distribution payments in any year to a maximum of the annual distribution for the current
year and the prior year. Distribution payments are also subject to approval by RHS. Prerequisites to limited distributions being paid by each Property Partnership are: (a) funding of the
reserve account must be current and (b) the mortgage note must be current.

7.  Contingency

The Partnership has ceased accrual of the annual partnership administration fee, payable in part to the general partner. Management has determined that the
source of payment, a future sale or refinance of one or more of the Property Partnerships, may not be sufficient to pay fees accrued in excess of the $544,540 payable at December 31, 1996.
Management has elected to treat fees for years subsequent to 1996 as a contingent liability. At September 30, 2001 and December 31, 2000 the contingent liability for partnership
administration fees totaled $353,956 and $298,068, respectively.

The
DGP of Logan did not comply with RHS regulations regarding the handling of project cash during 2000. These instances of non-compliance were reported to the appropriate
authorities during the first quarter of 2001. In addition, during the first quarter of 2001, the DGP made unauthorized withdrawals of project cash totaling $20,511. Also, project bank accounts have
been pledged in violation of RHS regulations. During the third quarter 2001, MFP and the other general partners asked RHS to approve a substitute general partner. As of September 30, 2001 no
decision had been made.

8.  Guarantees

Each of the DGP's has made certain guarantees to the respective Property Partnership that they will compensate the Partnership in the event the actual
low-income housing tax credit is less than 85% to 90% of the available credit. Through September 30, 2001, no payments have been made under the guarantee agreements.

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Item 2.  Management's Discussion and Analysis

Assisted Housing Fund L.P. I (the Partnership) is a limited partnership organized under the laws of the state of Washington.

The
Partnership has invested as a limited partner in eleven other limited partnerships (Property Partnerships) which develop, own, and operate residential apartment complexes which
benefit from some form of federal assistance programs and which qualify for low-income housing credits (Tax Credits) pursuant to the Internal Revenue Code by the Tax Reform Act of 1986.

The
Partnership's general partner is Murphey Favre Properties, Inc., (MFP), a wholly-owned subsidiary of WM Financial, Inc. which is a wholly-owned subsidiary of
Washington Mutual Bank (WMB).

The
Partnership completed its public offering of units of limited partnership on April 14, 1989 with proceeds totaling $3,511,000 through the sale of 703 units. There are 334
limited partners and one General Partner in the Partnership.

Each
Property Partnership has, as its general partner, one or more individuals or an entity not affiliated with the Partnership or MFP. In accordance with the Partnership Agreements
under which such entities are organized, the Partnership depends on the DGP's for the management of each Property Partnership, with the exception of Logan Apartments Company Limited Partnership.

During
the quarter, management's emphasis was on the continued operation of eleven properties placed in service. At September 30, 2001, four properties were 100% occupied, four
properties were between 90% and 98% occupied, and three properties were between 83% and 88% occupied.

The
DGP of Logan did not comply with RHS regulations regarding the handling of project cash during 2000. These instances of non-compliance were reported to the appropriate
authorities during the first quarter of 2001. In addition, during the first quarter of 2001, the DGP made unauthorized withdrawals of project cash totaling $20,511. Also, project bank accounts have
been pledged in violation of RHS regulations. During the third quarter 2001, MFP and the other general partners asked RHS to approve a substitute general partner. As of September 30, 2001 no
decision had been made.

Results of Operations

On a consolidated basis, net income before depreciation and amortization for the third quarter 2001 was $29,633 compared with net income before depreciation
and amortization in the third quarter of 2000 of $40,602. Rental revenues for the third quarter of 2001 were up 4.11% from the third quarter 2000 while the third quarter 2001 expenses including
depreciation were up 5.9% from the third quarter 2000.

Liquidity and Capital Resources

The Partnership completed its public offering of units of limited partnership on April 14, 1989, with proceeds totaling $3,511,000 from 339 limited
partners. The Partnership invested $2,542,000 of offering proceeds in eleven Property Partnerships.

Offering
proceeds equal to $175,750 were reserved by the Partnership to fund its operating expenses. As of September 30, 2001, the cash reserves of the Partnership totaled
$25,417. It is expected that the Partnership will draw on the reserves in future quarters to fund accounting and other operating expenses of the Partnership. Nominal cash distributions from the
Property Partnerships will supplement the cash reserves. It is expected that all cash distributions received from the Property Partnerships will be used to defray the operating expenses of the
Partnership and thus it is not likely any distribution will be made to the limited partners.

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The Partnership is not required to fund additional amounts to the Property Partnerships based on each Property Partnership agreement. Additionally, each Property Partnership is
operated as an individual project, and without any contractual arrangements of any kind between the Property Partnerships. In the third quarter 2001, four properties generated deficit cash flow and
seven generated positive cash flow. The deficits were funded by cash reserves of the Property Partnerships.

Included
in cash deposits on the consolidated balance sheets were $25,417 and $13,148, held as deposits by the Partnership in Washington Mutual Bank accounts as of
September 30, 2001 and December 31, 2000, respectively. Washington Mutual Bank is affiliated with MFP, the general partner of the Partnership.

There
are no additional acquisitions nor any dispositions planned.

12

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PART II.  OTHER INFORMATION

Except for the disclosures set forth below, all items under Part II are inapplicable or have a negative response and are therefore omitted.

Item 6.  Exhibits and Reports on Form 10-Q

a.) Listing
of Exhibits.

Exhibit
No.



Incorporated by
Reference From3

Certificate of Limited Partnership

Exhibit C to Form S-11 Registration Statement No. 91.139115010

Material Contracts

Exhibit 10 to Form 10-K filed for year ended December 31, 198913

Annual Report to Security Holders

Exhibit 13 to Form 10-K filed for year ended December 31, 2000


Pursuant
to 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.

Dated
this 15th day of November, 2001.

| |  | Assisted Housing Fund L.P.  I
By: Murphey Favre Properties, Inc.
Its Managing General Partner
| |  | ---------------------------------------------------------------------------------------------
| |  | HERBERT F. FOX  /s/Herbert F. Fox,Vice President
and Principal Financial Officer             

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