UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 10-QSB

(Mark One)
[X]   QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
      ACT OF 1934

              For the quarterly period ended September 30, 2005


[ ]   TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT


             For the transition period from _________to _________

                         Commission file number 0-17646


                       UNITED INVESTORS INCOME PROPERTIES
        (Exact name of small business issuer as specified in its charter)



         Missouri                                           43-1483942
(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)


Check  whether the issuer (i) 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 ___

Indicate by check mark whether the  registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act) Yes __ No X_

<PAGE>


                         PART I - FINANCIAL INFORMATION

ITEM 1.     FINANCIAL STATEMENTS



                       UNITED INVESTORS INCOME PROPERTIES

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

                               September 30, 2005

<TABLE>
<CAPTION>


Assets
<S>                                                                          <C>
   Cash and cash equivalents                                                 $ 210
   Receivables and deposits                                                      44
   Other assets                                                                 105
   Investment properties:
       Land                                                  $ 1,020
       Buildings and related personal property                 6,715
                                                               7,735
       Less accumulated depreciation                          (3,711)         4,024
                                                                            $ 4,383
Liabilities and Partners' (Deficiency) Capital
Liabilities
   Accounts payable                                                          $   94
   Tenant security deposit liabilities                                           20
   Accrued property taxes                                                        13
   Other liabilities                                                             53

Partners' (Deficiency) Capital
   General partner                                             $ (22)
   Limited partners (61,063 units issued and
      outstanding)                                             4,225          4,203
                                                                            $ 4,383

                See Accompanying Notes to Financial Statements

</TABLE>

<PAGE>

                       UNITED INVESTORS INCOME PROPERTIES

                            STATEMENTS OF OPERATIONS
                                   (Unaudited)
                      (in thousands, except per unit data)

<TABLE>
<CAPTION>

                                         Three Months Ended         Nine Months Ended
                                            September 30,             September 30,
                                         2005          2004          2005        2004
                                                    (Restated)                (Restated)
Revenues:
<S>                                      <C>           <C>          <C>          <C>
  Rental income                          $ 246         $ 260        $ 752        $ 732
  Other income                               30            23           82           69
     Total revenues                         276           283          834          801

Expenses:
  Operating                                 169           150          434          400
  General and administrative                 39            41           86          112
  Depreciation                               67            66          196          200
  Property taxes                             15            24           67           73
     Total expenses                         290           281          783          785

(Loss) income from continuing
   Operations                               (14)            2           51           16
Income from discontinued
  Operations (Note A)                        12            49          130          141
Gain on sale of discontinued
  operations (Note C)                     2,666            --        2,666           --

Net income                              $ 2,664        $   51      $ 2,847       $ 157

Net income allocated
  to general partner                     $ 93          $    1      $    95         $  2
Net income allocated
  to limited partners                     2,571            50        2,752          155

                                        $ 2,664        $   51      $ 2,847        $ 157
Per limited partnership unit:
  (Loss) income from continuing
     operations                         $ (.23)        $  .03        $ .82        $ .25
  Income from discontinued
    operations                              .20           .79         2.11         2.29
  Gain on sale of discontinued
    operations                            42.14            --        42.14           --

                                        $ 42.11        $ .82       $ 45.07       $ 2.54
Distributions per limited
  partnership unit                      $ 78.51       $ 1.52        $84.67      $ 9.38

                See Accompanying Notes to Financial Statements
</TABLE>

<PAGE>


                       UNITED INVESTORS INCOME PROPERTIES

            STATEMENT OF CHANGES IN PARTNERS' (DEFICIENCY) CAPITAL
                                   (Unaudited)
                        (in thousands, except unit data)


<TABLE>
<CAPTION>

                                     Limited
                                   Partnership   General      Limited
                                      Units      Partner     Partners       Total

<S>                                   <C>          <C>        <C>          <C>
Original capital contributions        61,063       $ --       $15,266      $15,266

Partners' (deficiency) capital
   at December 31, 2004               61,063      $ (65)      $ 6,643      $ 6,578

Distributions to partners                 --         (52)      (5,170)      (5,222)

Net income for the nine months
   ended September 30, 2005               --          95        2,752        2,847

Partners' (deficiency) capital
   at September 30, 2005              61,063      $ (22)      $ 4,225      $ 4,203

                See Accompanying Notes to Financial Statements
</TABLE>

                       UNITED INVESTORS INCOME PROPERTIES

                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                 (in thousands)

<TABLE>
<CAPTION>

                                                                   Nine Months Ended
                                                                     September 30,
                                                                     2005     2004
Cash flows from operating activities:
<S>                                                                <C>         <C>
  Net income                                                       $ 2,847     $ 157
  Adjustments to reconcile net income to net cash
   provided by operating activities:
      Depreciation                                                     242        313
      Gain on sale of investment property                           (2,666)        --
      Change in accounts:
        Receivables and deposits                                        (4)        (8)
        Other assets                                                   (16)       (23)
        Accounts payable                                               (26)         2
        Tenant security deposit liabilities                              4          4
        Accrued property taxes                                          16         28
        Due to affiliates                                               (5)       (17)
        Other liabilities                                                1         28
          Net cash provided by operating activities                    393        484

Cash flows from investing activities:
  Property improvements and replacements                              (227)       (75)
  Net proceeds from sale of investment property                      4,941         --
          Net cash provided by (used in) investing activities        4,714        (75)

Cash flows from financing activities:
  Loan costs incurred                                                  (31)       (22)
  Distributions to partners                                         (5,222)      (579)
          Net cash used in financing activities                     (5,253)      (601)

Net decrease in cash and cash equivalents                             (146)      (192)
Cash and cash equivalents at beginning of period                       356        509
Cash and cash equivalents at end of period                          $ 210      $ 317

Supplemental disclosure of non-cash information:
  Property improvements and replacements included in
   accounts payable                                                 $ 11       $ --

                See Accompanying Notes to Financial Statements
</TABLE>

<PAGE>

                       UNITED INVESTORS INCOME PROPERTIES

                          NOTES TO FINANCIAL STATEMENTS
                                   (Unaudited)


Note A - Basis of Presentation

The  accompanying  unaudited  financial  statements of United  Investors  Income
Properties (the  "Partnership" or "Registrant") 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 United Investors Real Estate,  Inc. (the "General  Partner" or
"UIRE"),  a Delaware  corporation  and a subsidiary of Apartment  Investment and
Management  Company  ("AIMCO"),  a publicly traded real estate investment trust,
all adjustments  (consisting of normal recurring accruals)  considered necessary
for a fair presentation have been included.  Operating results for the three and
nine month periods ended September 30, 2005, are not  necessarily  indicative of
the results that may be expected  for the fiscal year ending  December 31, 2005.
For further information, refer to the financial statements and footnotes thereto
included in the  Partnership's  Annual Report on Form 10-KSB for the fiscal year
ended December 31, 2004.

On May 1, 2003, Everest Properties,  Inc. a California  corporation  ("Everest")
acquired all of the capital stock of the General  Partner.  In  connection  with
this  transaction,  the  General  Partner  and the  Partnership  entered  into a
Services  Agreement  effective May 1, 2003 (the "Services  Agreement")  with NHP
Management Company ("NHP"), an affiliate of AIMCO, whereby NHP agreed to provide
portfolio and property  management  services for the Partnership.  The portfolio
management services included the services the General Partner of the Partnership
generally  performs  or  procures  in  connection  with  the  management  of the
Partnership,  subject  to  certain  limitations  provided  for in  the  Services
Agreement.  As compensation for providing the portfolio  management services and
the property management services,  the General Partner paid and assigned over to
NHP all of the income,  distributions,  fees,  commissions,  reimbursements  and
other payments  payable by the  Partnership to the General Partner or any of its
affiliates.  On February 27, 2004,  AIMCO/IPT,  Inc.  ("IPT"),  a subsidiary  of
AIMCO,  reacquired from Everest all of the capital stock of the General Partner.
As of February 27, 2004, the Services Agreement was terminated.  The Partnership
Agreement  provides  that the  Partnership  is to terminate on December 18, 2018
unless terminated prior to such date.

The  accompanying  statements of operations  for the three and nine months ended
September  30,  2005 have been  restated  as of January  1, 2004 to reflect  the
operations  of Meadow  Wood  Apartments  which sold on July 22, 2005 (see Note C
-Disposition of Investment Property),  as income from discontinued operations in
accordance with Statement of Financial  Accounting  Standards  ("SFAS") No. 144,
"Accounting  for the Impairment or Disposal of Long-Lived  Assets".  Included in
income from discontinued  operations is net income for Meadow Wood Apartments of
approximately $12,000 and $130,000 for the three and nine months ended September
30, 2005, respectively, and net income of approximately $49,000 and $141,000 for
the three and nine months ended  September 30, 2004,  respectively.  Included in
income  from  discontinued  operations  for the  three  and  nine  months  ended
September  30,  2005  are  revenues  of  approximately   $42,000  and  $372,000,
respectively.  Included in income from discontinued operations for the three and
nine months ended September 30, 2004 were revenues of approximately $186,000 and
$511,000, respectively.

Reclassification:

Certain balances from 2004 have been reclassified to conform to the current year
presentation.

Note B - Transactions with Affiliated Parties

The  Partnership  has no  employees  and depends on the 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
for  reimbursement of certain  expenses  incurred by affiliates on behalf of the
Partnership.  Pursuant to the Services Agreement discussed in "Note A", all such
payments for services provided for in the Partnership Agreement were paid to NHP
during the period from May 1, 2003 until  February  27,  2004 when the  services
agreement was terminated.

During the nine months  ended  September  30, 2005 and 2004,  affiliates  of the
General  Partner  received 5% of gross  receipts  from all of the  Partnership's
properties as  compensation  for providing  property  management  services.  The
Partnership  paid to such affiliates  approximately  $58,000 and $63,000 for the
nine months ended September 30, 2005 and 2004,  respectively,  which is included
in operating expenses and income from discontinued operations.

An affiliate of the General  Partner charged the  Partnership  reimbursement  of
accountable  administrative  expenses  amounting  to  approximately  $63,000 and
$73,000 for the nine months  ended  September  30, 2005 and 2004,  respectively,
which is included in general and administrative expenses.

For acting as real estate broker in  connection  with the 1999 sale of Peachtree
Corners Medical Building, the General Partner earned a real estate commission of
approximately  $21,000.  However,  this amount is not payable  until the limited
partners  receive an amount equal to their  adjusted  capital  investment  and a
cumulative  distribution  equal to an 8% annual return from the last  additional
closing date or, if greater,  a 6%  cumulative  annual return from their date of
admission to the  Partnership.  At September 30, 2005, the limited  partners had
not received their return.  During the nine months ended September 30, 2005, the
General  Partner  determined  that the limited  partners  would not receive both
their adjusted  capital  investment and applicable  return with future  property
sales or financings.  Therefore,  the General  Partner  reversed the real estate
commission previously accrued associated with the 1999 sale of Peachtree Corners
Medical Building.

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,   general
liability and vehicle  liability.  The Partnership  insures its properties above
the AIMCO limits  through  insurance  policies  obtained by AIMCO from  insurers
unaffiliated  with the General  Partner.  During the nine months ended September
30,  2005 and 2004,  the  Partnership  was  charged by AIMCO and its  affiliates
approximately   $24,000  for  both  periods  for  insurance  coverage  and  fees
associated with policy claims administration.

<PAGE>

Note C - Disposition of Investment Property

On July 22, 2005, the  Partnership  sold Meadow Wood Apartments to a third party
for a gross  sales  price  of  $5,075,000.  The  net  proceeds  realized  by the
Partnership  were  approximately  $4,941,000  after  payment of closing costs of
approximately  $134,000.  The  Partnership  recognized  a gain of  approximately
$2,666,000 during the three and nine months ended September 30, 2005 as a result
of the  sale  and  this  amount  is  included  in gain  on sale of  discontinued
operations.  The property's  operations included income of approximately $12,000
and  $130,000  for  the  three  and  nine  months  ended   September  30,  2005,
respectively, and income of approximately $49,000 and $141,000 for the three and
nine months ended September 30, 2004, respectively.  Included in the income from
discontinued  operations for the three and nine months ended  September 30, 2005
are revenues of approximately  $42,000 and $372,000,  respectively.  Included in
the income from  discontinued  operations  for the three and nine  months  ended
September  30,  2004 were  revenues  of  approximately  $186,000  and  $511,000,
respectively.

The   Partnership   distributed   approximately   $4,842,000   to  the  partners
(approximately  $4,794,000  to  the  limited  partners  or  $78.51  per  limited
partnership unit) from proceeds from the sale of Meadow Wood Apartments.

Note D - Subsequent Event

On October 21,  2005,  the  Partnership  obtained  financing  for Bronson  Place
Apartments  with a  mortgage  loan  in the  principal  amount  of  approximately
$1,912,000.  The loan was financed under a permanent credit facility ("Permanent
Credit  Facility") with Fannie Mae. The Permanent Credit Facility has a maturity
of September 16, 2007, with one five-year extension option. The Permanent Credit
Facility includes  properties in other partnerships that are affiliated with the
general  partner of the  Partnership.  The  Permanent  Credit  Facility  creates
separate loans for each property.  The loans under the Permanent Credit Facility
are not  cross-collateralized  or cross-defaulted with the other property loans.
The loan on Bronson Place Apartments has a variable  interest rate of the Fannie
Mae discounted  mortgage-backed  security index plus 85 basis points, which rate
is currently 4.95% per annum, and resets monthly. Monthly principal payments are
required  based on a 30-year  amortization  schedule  using the interest rate in
effect during the first month that the mortgage on Bronson Place  Apartments was
financed under the Permanent  Credit  Facility.  The loan is prepayable  without
penalty.

In accordance with the terms of the loan agreement relating to the mortgage, the
payment of the  mortgage  may be  accelerated  at the option of the lender if an
Event of Default,  as defined in the loan  agreement  occurs.  Events of Default
include,  but are not  limited to  nonpayment  of monthly  interest  and reserve
requirements  and  nonpayment of amounts  outstanding  on or before the maturity
date.

Note E - Contingencies

AIMCO Properties L.P. and NHP Management Company, both affiliates of the General
Partner,  are defendants in a lawsuit alleging that they willfully  violated the
Fair Labor Standards Act ("FLSA") by failing to pay maintenance workers overtime
for all hours worked in excess of forty per week.  The  complaint,  filed in the
United States  District Court for the District of Columbia,  attempts to bring a
collective  action  under  the FLSA and seeks to  certify  state  subclasses  in
California, Maryland, and the District of Columbia. Specifically, the plaintiffs
contend  that  AIMCO  Properties  L.P.  and NHP  Management  Company  failed  to
compensate maintenance workers for time that they were required to be "on-call".
Additionally,  the complaint  alleges AIMCO  Properties  L.P. and NHP Management
Company failed to comply with the FLSA in compensating  maintenance  workers for
time  that they  worked in excess of 40 hours in a week.  In June 2005 the Court
conditionally  certified the collective  action on both the on-call and overtime
issues,  which allows the plaintiffs to provide notice of the collective  action
to all non-exempt  maintenance  workers from August 7, 2000 through the present.
Those  employees will have the  opportunity to opt-in to the collective  action,
and AIMCO Properties,  L.P. and NHP Management Company will have the opportunity
to move to decertify the collective action. Because the court denied plaintiffs'
motion to certify state subclasses,  on September 26, 2005, the plaintiffs filed
a class action with the same  allegations  in the Superior  Court of  California
(Contra  Costa  County).  Although the outcome of any  litigation  is uncertain,
AIMCO  Properties,  L.P. does not believe that the ultimate  outcome will have a
material  adverse effect on its consolidated  financial  condition or results of
operations.  Similarly,  the General  Partner does not believe that the ultimate
outcome  will have a  material  adverse  effect on the  Partnership's  financial
condition or results of operations.

The  Partnership  is unaware  of any other  pending  or  outstanding  litigation
matters  involving  it or its  investment  properties  that are not of a routine
nature arising in the ordinary course of business.

Environmental

Various  Federal,  state and local laws subject  property owners or operators to
liability for management,  and the costs of removal or  remediation,  of certain
hazardous  substances  present on a property.  Such laws often impose  liability
without regard to whether the owner or operator knew of, or was responsible for,
the release or presence of the  hazardous  substances.  The  presence of, or the
failure to manage or remedy properly,  hazardous substances may adversely affect
occupancy at affected  apartment  communities and the ability to sell or finance
affected properties.  In addition to the costs associated with investigation and
remediation  actions  brought by government  agencies,  and  potential  fines or
penalties  imposed by such  agencies in  connection  therewith,  the presence of
hazardous  substances on a property could result in claims by private plaintiffs
for personal injury, disease, disability or other infirmities. Various laws also
impose  liability for the cost of removal,  remediation or disposal of hazardous
substances  through a  licensed  disposal  or  treatment  facility.  Anyone  who
arranges for the disposal or treatment of hazardous  substances  is  potentially
liable  under such laws.  These laws often impose  liability  whether or not the
person arranging for the disposal ever owned or operated the disposal  facility.
In connection  with the ownership,  operation and management of its  properties,
the Partnership  could  potentially be liable for  environmental  liabilities or
costs associated with its properties.

Mold

The Partnership is aware of lawsuits  against owners and managers of multifamily
properties asserting claims of personal injury and property damage caused by the
presence of mold, some of which have resulted in substantial  monetary judgments
or settlements. The Partnership has only limited insurance coverage for property
damage loss claims  arising from the  presence of mold and for  personal  injury
claims  related  to  mold  exposure.  Affiliates  of the  General  Partner  have
implemented a national  policy and  procedures to prevent or eliminate mold from
its  properties  and the  General  Partner  believes  that these  measures  will
minimize the effects that mold could have on residents. To date, the Partnership
has not incurred any material  costs or  liabilities  relating to claims of mold
exposure  or to  abate  mold  conditions.  Because  the  law  regarding  mold is
unsettled and subject to change the General  Partner can make no assurance  that
liabilities  resulting  from the presence of or exposure to mold will not have a
material adverse effect on the Partnership's  financial  condition or results of
operations.

SEC Investigation

The  Central  Regional  Office of the  United  States  Securities  and  Exchange
Commission (the "SEC")  continues its formal  investigation  relating to certain
matters.  Although  the staff of the SEC is not limited in the areas that it may
investigate,  AIMCO believes the areas of  investigation  have included  AIMCO's
miscalculated   monthly  net  rental  income  figures  in  third  quarter  2003,
forecasted  guidance,  accounts  payable,  rent  concessions,   vendor  rebates,
capitalization of payroll and certain other costs, tax credit transactions,  and
tender offers for limited  partnership  interests.  AIMCO is cooperating  fully.
AIMCO is not able to predict when the investigation will be resolved. AIMCO does
not believe that the ultimate outcome will have a material adverse effect on its
consolidated  financial  condition  or results  of  operations.  Similarly,  the
General Partner does not believe that the ultimate  outcome will have a material
adverse  effect  on  the  Partnership's   financial   condition  or  results  of
operations.

<PAGE>

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

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 two apartment complexes. The
following  table sets forth the average  occupancy of the properties for each of
the nine months ended September 30, 2005 and 2004:

                                                   Average Occupancy
      Property                                      2005       2004

      Bronson Place Apartments                      89%        90%
         Mountlake Terrace, Washington
      Defoors Crossing Apartments (1)               95%        90%
         Atlanta, Georgia

(1)   The  General  Partner  attributes  the  increase in average  occupancy  at
      Defoors  Crossing  Apartments  to strong  resident  relations and customer
      service,  improved marketing to potential quality  residents,  and leasing
      incentives.

The  Partnership's  financial  results depend upon a number of factors including
the  ability to attract  and  maintain  tenants  at the  investment  properties,
interest  rates on mortgage  loans,  costs  incurred  to operate the  investment
properties,  general  economic  conditions  and weather.  As part of the ongoing
business plan of the Partnership, the 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 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,  the  General  Partner  may use  rental  concessions  and  rental  rate
reductions  to offset  softening  market  conditions,  accordingly,  there is no
guarantee that the General Partner will be able to sustain such a plan. Further,
a number of factors which are outside the control of the Partnership such as the
local  economic  climate and  weather can  adversely  or  positively  affect the
Partnership's financial results.

Results of Operations

The  Partnership  recognized  net  income  for the three and nine  months  ended
September 30, 2005 of  approximately  $2,664,000  and  $2,847,000,  respectively
compared to net income of  approximately  $51,000 and $157,000 for the three and
nine months ended September 30, 2004,  respectively.  The increase in net income
for the three months ended  September  30, 2005 is due to the  recognition  of a
gain on sale of discontinued  operations slightly offset by a decrease in income
from  discontinued  operations  and an  increase  in net  loss  from  continuing
operations.  The increase in net income for the nine months ended  September 30,
2005 is due to the recognition of a gain on sale of discontinued  operations and
an increase in income from continuing  operations  slightly offset by a decrease
in income from discontinued operations.

In accordance with Statement of Financial Accounting Standards ("SFAS") No. 144,
"Accounting   for  the   Impairment  or  Disposal  of  Long-Lived   Assets"  the
accompanying  statements  of  operations  for the  three and nine  months  ended
September  30,  2005 have been  restated  as of January  1, 2004 to reflect  the
operations of Meadow Wood Apartments, as income from discontinued operations. On
July 22, 2005, the Partnership  sold Meadow Wood Apartments to a third party for
a gross sales price of $5,075,000.  The net proceeds realized by the Partnership
were  approximately  $4,941,000  after payment of closing costs of approximately
$134,000. The Partnership  recognized a gain of approximately  $2,666,000 during
the three and nine months ended  September  30, 2005 as a result of the sale and
this  amount  is  included  in  gain on sale  of  discontinued  operations.  The
property's  operations included income of approximately $12,000 and $130,000 for
the three and nine months ended September 30, 2005, respectively,  and income of
approximately $49,000 and $141,000 for the three and nine months ended September
30, 2004, respectively.  Included in income from discontinued operations for the
three and nine months ended  September  30, 2005 are  revenues of  approximately
$42,000  and  $372,000,  respectively.  Included  in  income  from  discontinued
operations for the three and nine months ended  September 30, 2004 were revenues
of approximately $186,000 and $511,000, respectively.

The  Partnership's  income from continuing  operations for the nine months ended
September 30, 2005 and 2004 was approximately $51,000 and $16,000, respectively.
The  increase in income from  continuing  operations  for the nine months  ended
September 30, 2005 is due to an increase in total revenues  partially  offset by
an increase in total  expenses.  Total  revenues  increased  for the nine months
ended  September  30, 2005 due to an increase in rental income and other income.
Rental  income  increased  due to an increase in occupancy  at Defoors  Crossing
Apartments  and  an  increase  in the  average  rental  rate  at  Bronson  Place
Apartments.  Other  income  increased  due to an increase  in  resident  utility
reimbursements and lease cancellation fees at DeFoors Crossing Apartments and an
increase in interest income.

The Partnership  recognized a loss from continuing  operations of  approximately
$14,000 for the three  months  ended  September  30, 2005  compared to income of
approximately $2,000 for the three months ended September 30, 2004. The decrease
in  income is due to a  decrease  in total  revenues  and an  increase  in total
expenses. Total revenues decreased for the three months ended September 30, 2005
due to a decrease  in rental  income  partially  offset by an  increase in other
income. Rental income decreased primarily due to an increase in bad debt expense
at Bronson Place  Apartments and an increase in concessions at DeFoors  Crossing
Apartments. Other income increased due to an increase in interest income.

Total expenses for the three and nine months ended  September 30, 2005 increased
due to an  increase  in  operating  expense  partially  offset by  decreases  in
property tax expense and general and administrative  expense for the nine months
ended September 30, 2005.  Depreciation expense remained relatively constant for
the  comparable  periods.  Operating  expense  increased  due to an  increase in
advertising,  property and maintenance  expense at DeFoors Crossing  Apartments.
Advertising  expense increased due to an increase in periodical  advertising and
referral  fees at the  property  in an  effort  to  attract  qualified  tenants.
Property  expense  increased due to an increase in salaries and related employee
benefits.  Maintenance expense increased due to an increase in contract services
at DeFoors Crossing Apartments. Property tax expense decreased due to a decrease
in the  assessed  value of  DeFoors  Crossing  Apartments  by the  local  taxing
authority.

General  and  administrative  expenses  decreased  for  the  nine  months  ended
September 30, 2005 due to the reversal of the real estate commission owed to the
General Partner and previously  accrued in association with the 1999 sale of the
Peachtree Corners Medical Building. During the nine month period ended September
30, 2005,  the General  Partner  determined  that the limited  partners will not
receive their adjusted  capital  investment  and  applicable  return with future
sales or financings and accordingly, reversed the previous accrual of $21,000.

Included   in  general  and   administrative   expenses   are  the   accountable
reimbursements  charged by an affiliate of the General  Partner as allowed under
the Partnership Agreement.  Also included in general and administrative expenses
at both September 30, 2005 and 2004 are costs  associated with the quarterly and
annual communications with investors and regulatory agencies.

Liquidity and Capital Resources

At  September  30,  2005,  the  Partnership  had cash and  cash  equivalents  of
approximately $210,000 compared to approximately $317,000 at September 30, 2004.
Cash and cash equivalents decreased by approximately $146,000 since December 31,
2004,  due to  approximately  $5,253,000  of cash  used in  financing  which was
partially  offset by  approximately  $4,714,000 and $393,000 of cash provided by
investing and operating activities.  Cash used in financing activities consisted
of  distributions  paid to the partners and loan costs  incurred  related to the
anticipated  financing to be obtained for Bronson  Place  Apartments  during the
fourth  quarter  of 2005 (see  Note D -  Subsequent  Event).  Cash  provided  by
investing  activities  consisted  of net  proceeds  from the sale of Meadow Wood
Apartments  slightly  offset by  property  improvements  and  replacements.  The
Partnership invests its working capital reserves 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 various  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 General Partner
monitors  developments  in the  area of legal  and  regulatory  compliance.  For
example,  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.  Capital improvements planned for each of
the Partnership's properties are detailed below.

Bronson Place

During the nine months ended  September  30,  2005,  the  Partnership  completed
approximately  $73,000  of capital  improvements  at  Bronson  Place  Apartments
consisting primarily of floor covering and appliance  replacements,  cabinet and
structural  upgrades,  ground lighting,  office computers and plumbing fixtures.
These  improvements  were  funded  from  operating  cash flow.  The  Partnership
regularly  evaluates the capital  improvement  needs of the property.  While the
Partnership  has  no  material   commitments  for  property   improvements   and
replacements,  certain routine expenditures are anticipated during the remainder
of 2005. Such capital  expenditures will depend on the physical condition of the
property as well as the anticipated cash flow generated by the property.

DeFoors Crossing

During the nine months ended  September  30,  2005,  the  Partnership  completed
approximately  $82,000 of capital  improvements at DeFoors  Crossing  Apartments
consisting primarily of floor covering and appliance replacements,  plumbing and
interior lighting upgrades and major landscaping. These improvements were funded
from  operating  cash flow.  The  Partnership  regularly  evaluates  the capital
improvement  needs  of the  property.  While  the  Partnership  has no  material
commitments  for  property   improvements  and  replacements,   certain  routine
expenditures  are  anticipated  during  the  remainder  of  2005.  Such  capital
expenditures  will depend on the  physical  condition of the property as well as
the anticipated cash flow generated by the property.

Meadow Wood

The  Partnership  completed  approximately  $83,000 of capital  improvements  at
Meadow Wood  Apartments  consisting  primarily of floor  covering and  appliance
replacements and an office computer. The property sold on July 22, 2005.

The additional  capital  expenditures will be incurred only if cash is available
from  operations  or from  Partnership  reserves.  To the  extent  that  capital
improvements are completed,  the Partnership's  distributable cash flow, if any,
may be adversely affected at least in the short term.

The Partnership  distributed the following  amounts during the nine months ended
September 30, 2005 and 2004 (in thousands, except per unit data):

<TABLE>
<CAPTION>

                   Nine Months       Per Limited      Nine Months        Per Limited
                      Ended          Partnership         Ended           Partnership
                September 30, 2005      Unit       September 30, 2004       Unit

<S>                   <C>              <C>               <C>               <C>
Operations            $ 380            $ 6.16            $ 579             $ 9.38
Sale (1)               4,842            78.51                --                --
                     $ 5,222           $84.67            $ 579             $ 9.38
</TABLE>

(1) Proceeds from the sale of Meadow Wood Apartments.

Future cash  distributions  will depend on the levels of net cash generated from
operations,  property sales and/or financings.  The Partnership's cash available
for distribution is reviewed on a monthly basis. There can be no assurance, that
the Partnership  will generate  sufficient  funds from operations  after capital
expenditures to permit any additional  operating  distributions  to its partners
during the remainder of 2005 or subsequent periods.

Other

On February 27, 2004, IPT, a subsidiary of AIMCO, reacquired from Everest all of
the capital stock of the General Partner.  In addition to its indirect ownership
of the sole general partner of the  Partnership,  AIMCO and its affiliates owned
24,490 limited  partnership units (the "Units") in the Partnership  representing
40.11% of the  outstanding  units at September 30, 2005. A number of these Units
were acquired  pursuant to tender offers made by AIMCO or its affiliates.  AIMCO
or its affiliates may acquire additional Units of limited  partnership  interest
in the  Partnership  in exchange for cash or a combination  of cash and units in
AIMCO  Properties,  L.P.,  the operating  partnership  of AIMCO,  either through
private purchases or tender offers. Under the Partnership Agreement, unitholders
holding a majority of the Units are  entitled  to take action with  respect to a
variety of matters that include voting on certain  amendments to the Partnership
Agreement and voting to remove the General Partner. As a result of its ownership
of  40.11%  of the  outstanding  Units at  September  30,  2005,  AIMCO  and its
affiliates are in a position to influence all such voting decisions with respect
to the  Partnership.  Although the General Partner owes fiduciary  duties to the
limited  partners of the  Partnership,  the General  Partner also owes fiduciary
duties to AIMCO as its sole stockholder.  As a result, the duties of the General
Partner,  as general  partner,  to the Partnership and its limited  partners may
come into conflict  with the duties of the General  Partner to AIMCO as its sole
stockholder.

Critical Accounting Policies and Estimates

The 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, but are not limited
to,  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 impairment of the Partnership's
assets.

Revenue Recognition

The Partnership generally leases apartment units for twelve-month terms or less.
The Partnership will offer rental concessions during particularly slow months or
in response  to heavy  competition  from other  similar  complexes  in the area.
Rental income attributable to leases, net of any concessions, is recognized on a
straight-line  basis over the term of the lease.  The Partnership  evaluates all
accounts  receivable  from  residents and  establishes  an allowance,  after the
application of security deposits,  for accounts greater than 30 days past due on
current tenants and all receivables due from former tenants.

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 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 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.


<PAGE>


                           PART II - OTHER INFORMATION


ITEM 1.     LEGAL PROCEEDINGS

AIMCO Properties L.P. and NHP Management Company, both affiliates of the General
Partner,  are defendants in a lawsuit alleging that they willfully  violated the
Fair Labor Standards Act ("FLSA") by failing to pay maintenance workers overtime
for all hours worked in excess of forty per week.  The  complaint,  filed in the
United States  District Court for the District of Columbia,  attempts to bring a
collective  action  under  the FLSA and seeks to  certify  state  subclasses  in
California, Maryland, and the District of Columbia. Specifically, the plaintiffs
contend  that  AIMCO  Properties  L.P.  and NHP  Management  Company  failed  to
compensate maintenance workers for time that they were required to be "on-call".
Additionally,  the complaint  alleges AIMCO  Properties  L.P. and NHP Management
Company failed to comply with the FLSA in compensating  maintenance  workers for
time  that they  worked in excess of 40 hours in a week.  In June 2005 the Court
conditionally  certified the collective  action on both the on-call and overtime
issues,  which allows the plaintiffs to provide notice of the collective  action
to all non-exempt  maintenance  workers from August 7, 2000 through the present.
Those  employees will have the  opportunity to opt-in to the collective  action,
and AIMCO Properties,  L.P. and NHP Management Company will have the opportunity
to move to decertify the collective action. Because the court denied plaintiffs'
motion to certify state subclasses,  on September 26, 2005, the plaintiffs filed
a class action with the same  allegations  in the Superior  Court of  California
(Contra  Costa  County).  Although the outcome of any  litigation  is uncertain,
AIMCO  Properties,  L.P. does not believe that the ultimate  outcome will have a
material  adverse effect on its consolidated  financial  condition or results of
operations.  Similarly,  the General  Partner does not believe that the ultimate
outcome  will have a  material  adverse  effect on the  Partnership's  financial
condition or results of operations.

ITEM 5.     OTHER INFORMATION

            None.

ITEM 6.     EXHIBITS

            See Exhibit Index.


<PAGE>


                                   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.



                                    UNITED INVESTORS INCOME PROPERTIES


                                    By:   United Investors Real Estate, Inc.
                                          Its General Partner

                                    By:   /s/Martha L. Long
                                          Martha L. Long
                                          Senior Vice President

                                    By:   /s/Stephen B. Waters
                                          Stephen B. Waters
                                          Vice President

                                    Date: November 14, 2005



<PAGE>


                       UNITED INVESTORS INCOME PROPERTIES

                                INDEX TO EXHIBITS


Exhibit


         1        Form of Dealer Manager  Agreement  between the General Partner
                  and the Dealer  Manager,  including Form of Soliciting  Broker
                  Agreement;   incorporated   by   reference  to  Exhibit  1  to
                  Partnership's  Amendment to  Registration  Statement (File No.
                  33-20350) filed on May 2, 1988.

       1.1        Amendment  to  Dealer  Manager  Agreement;  incorporated  by
                  reference to Exhibit 1.1 to  Post-Effective  Amendment No. 2
                  to Partnership's  Registration  Statement filed on March 21,
                  1989.

       4.1        Form of Subscription  Agreement;  incorporated by reference as
                  part  of  the   Prospectus   of   Partnership   contained   in
                  Partnership's Amendment to Registration Statement filed on May
                  2, 1988.

       4.2        Form of  Agreement  of  Limited  Partnership  of  Partnership;
                  incorporated  by  reference  as  part  of  the  Prospectus  of
                  Partnership   contained   in   Partnership's    Amendment   to
                  Registration Statement filed on May 2, 1988.

       4.3        Tenth  Amendment  to  Agreement  of  Limited   Partnership  of
                  Partnership;  incorporated  by  reference  to  Exhibit  4.3 to
                  Partnership's  Quarterly  Report on Form 10-Q filed on May 15,
                  1989.

       4.4        Certificate of Limited Partnership (Exhibit 3 to Partnership's
                  Form 8-K filed on April 29, 1991,  is  incorporated  herein by
                  reference).

       4.5        Amendment to Agreement of Limited Partnership  effective March
                  28,  2005;   incorporated  by  reference  to  Exhibit  4.5  to
                  Partnership's  Quarterly  Report on Form 10-Q filed on May 13,
                  2005.

      10.2        Agreement of Purchase and Sale,  dated June 22, 1988,  between
                  United  Investors  Real  Estate,  Inc.,  as nominee for United
                  Investors  Income  Properties,  as purchaser,  and  Nilsen/Bay
                  Ridge  Development,  Inc.  and MBIV  Development,  as  seller,
                  relating  to  Bronson  Place   Apartments;   incorporated   by
                  reference to Exhibit 10.1 to Partnership's Quarterly Report on
                  Form 10-Q filed on August 11, 1988.

      10.3        Agreement  of  Purchase  and Sale,  dated  October  20,  1988,
                  between United Investors Real Estate, Inc., as purchaser,  and
                  Defoors  Crossing  Associates,  Ltd.,  as seller,  relating to
                  Defoors   Crossing   Apartments,   and   amendments   thereto;
                  incorporated  by reference  to Exhibit 10.3 to  Post-Effective
                  Amendment No.1 to Partnership's  Registration  Statement filed
                  on February 1, 1989.

      10.4        Agreement of Purchase and Sale,  dated June 29, 1989,  between
                  United  Investors  Real Estate,  Inc.,  as  purchaser  and CMW
                  Properties, as seller, relating to Meadow Wood Apartments, and
                  amendments thereto;  incorporated by reference to Exhibit 10.4
                  to  Partnership's  Current Report on Form 8-K filed on October
                  17, 1989.

      10.8        Stock Purchase  Agreement dated December 4, 1992,  showing the
                  purchase of 100% of the outstanding  stock of United Investors
                  Real  Estate,  Inc.  by MAE GP  Corporation;  incorporated  by
                  reference to Exhibit 10.8 to  Partnership's  Current Report on
                  Form 8-K filed on December 31, 1992.

      10.9        Purchase and Sale Contract  between  United  Investors  Income
                  Properties, a Missouri limited partnership, as Seller, and The
                  Meadow  Wood  Investors,  LLC,  an  Oregon  limited  liability
                  company, as Purchaser, effective May 10, 2005; incorporated by
                  reference to Exhibit 10.9 to Partnership's Quarterly Report on
                  Form 10-QSB filed on May 13, 2005.

      10.10       Amendment  of  Purchase  and Sale  Contract  between  United
                  Investors    Income    Properties,    a   Missouri   limited
                  partnership,  as Seller, and The Meadow Wood Investors, LLC,
                  a Oregon limited liability company, as Purchaser,  effective
                  June 2, 2005  incorporated  by reference to Exhibit 10.10 to
                  Partnership's  Current  Report on Form 8-K  filed  August 1,
                  2005.

      10.11       Second  Amendment  of  Purchase  and Sale  Contract  between
                  United  Investors  Income  Properties,  a  Missouri  limited
                  partnership,  as Seller, and The Meadow Wood Investors, LLC,
                  a Oregon limited liability company, as Purchaser,  effective
                  June 30, 2005  incorporated by reference to Exhibit 10.11 to
                  Partnership's  Current  Report on Form 8-K  filed  August 1,
                  2005.

      10.12       Multifamily  Note dated  October  21,  2005  between  United
                  Investors Income Properties,  a Missouri Limited Partnership
                  and GMAC Commercial Mortgage Corporation. (1)

      10.13       Guaranty  dated October 21, 2005 by AIMCO  Properties,  L.P.
                  for the benefit of GMAC Commercial Mortgage Corporation. (1)

      10.14       Replacement  Reserve and Security  Agreement  dated  October
                  21, 2005  between  United  Investors  Income  Properties,  a
                  Missouri  Limited  Partnership and GMAC Commercial  Mortgage
                  Corporation. (1)

      10.15       Assignment  of Security  Instrument  dated  October 21, 2005
                  between  GMAC  Commercial  Mortgage  Corporation  and Fannie
                  Mae. (1)

      10.16       Multifamily Deed of Trust,  Assignment of Rents and Security
                  Agreement  dated October 21, 2005 between  United  Investors
                  Income Properties,  a Missouri Limited  Partnership and GMAC
                  Commercial Mortgage Corporation. (1)

      10.17       Indemnification  Agreement  dated  October 21, 2005  between
                  United  Investors  Income  Properties,  a  Missouri  Limited
                  Partnership  and  AIMCO  Properties,  L.P.  in favor of GMAC
                  Commercial Mortgage Corporation. (1)

                     (1)  Incorporated  herein by reference to the  Registrant's
                     Current Report on Form 8-K dated October 31, 2005, as filed
                     October 27, 2005.

      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.

      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.

      32.1        Certification of the equivalent of Chief Executive Officer and
                  Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as
                  Adopted Pursuant to Section 906 of the  Sarbanes-Oxley  Act of
                  2002.


<PAGE>



Exhibit 31.1


                                  CERTIFICATION


I, Martha L. Long, certify that:


1.    I have reviewed this quarterly  report on Form 10-QSB of United  Investors
      Income Properties;

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 small  business  issuer as of, and for, the periods  presented in this
      report;

4.    The  small  business  issuer'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 small business issuer 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
            small business issuer, 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  small  business   issuer'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 small  business  issuer's
            internal  control over financial  reporting that occurred during the
            small  business  issuer's  most  recent  fiscal  quarter  (the small
            business  issuer's  fourth  fiscal  quarter in the case of an annual
            report) that has  materially  affected,  or is reasonably  likely to
            materially affect, the small business issuer's internal control over
            financial reporting; and

5.    The  small  business  issuer's  other  certifying  officer(s)  and I  have
      disclosed,  based on our most recent  evaluation of internal  control over
      financial reporting, to the small business issuer's auditors and the audit
      committee of the small  business  issuer'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 small business  issuer'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 small  business
            issuer's internal control over financial reporting.

Date:  November 14, 2005
                                    /s/Martha L. Long
                                    Martha L. Long
                                    Senior Vice President of United  Investors
                                    Real  Estate,  Inc.,   equivalent  of  the
                                    chief executive officer of the Partnership


<PAGE>



Exhibit 31.2

                                  CERTIFICATION

I, Stephen B. Waters, certify that:


1.    I have reviewed this quarterly  report on Form 10-QSB of United  Investors
      Income Properties;

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 small  business  issuer as of, and for, the periods  presented in this
      report;

4.    The  small  business  issuer'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 small business issuer 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
            small business issuer, 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  small  business   issuer'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 small  business  issuer's
            internal  control over financial  reporting that occurred during the
            small  business  issuer's  most  recent  fiscal  quarter  (the small
            business  issuer's  fourth  fiscal  quarter in the case of an annual
            report) that has  materially  affected,  or is reasonably  likely to
            materially affect, the small business issuer's internal control over
            financial reporting; and

5.    The  small  business  issuer's  other  certifying  officer(s)  and I  have
      disclosed,  based on our most recent  evaluation of internal  control over
      financial reporting, to the small business issuer's auditors and the audit
      committee of the small  business  issuer'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 small business  issuer'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 small  business
            issuer's internal control over financial reporting.

Date:  November 14, 2005
                                    /s/Stephen B. Waters
                                    Stephen B. Waters
                                    Vice  President of United  Investors  Real
                                    Estate,  Inc.,  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 United  Investors
Income Properties (the "Partnership"),  for the quarterly period ended September
30, 2005 as filed with the Securities and Exchange Commission on the date hereof
(the "Report"), Martha L. Long, as the equivalent of the Chief Executive Officer
of the  Partnership,  and  Stephen B.  Waters,  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/Martha L. Long
                                    Name:  Martha L. Long
                                    Date:  November 14, 2005


                                           /s/Stephen B. Waters
                                    Name:  Stephen B. Waters
                                    Date:  November 14, 2005


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.