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, 2002


[ ]   TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
      OF 1934


                    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)

<PAGE>



                         PART I - FINANCIAL INFORMATION

ITEM 1.     FINANCIAL STATEMENTS



                       UNITED INVESTORS INCOME PROPERTIES

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

                               September 30, 2002

<TABLE>
<CAPTION>

Assets
<S>                                                                          <C>
   Cash and cash equivalents                                                 $  412
   Receivables and deposits                                                      38
   Other assets                                                                  21
   Investment properties:
       Land                                                  $ 1,522
       Buildings and related personal property                 9,809
                                                              11,331
       Less accumulated depreciation                          (4,440)         6,891
                                                                            $ 7,362
Liabilities and Partners' (Deficit) Capital
Liabilities
   Accounts payable                                                          $ 17
   Tenant security deposit liabilities                                           54
   Accrued property taxes                                                        18
   Other liabilities                                                             83

Partners' (Deficit) Capital
   General partner                                             $ (60)
   Limited partners (61,063 units
      issued and outstanding)                                  7,250          7,190
                                                                            $ 7,362


                       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,
                                          2002         2001         2002        2001
Revenues:
<S>                                      <C>          <C>         <C>         <C>
  Rental income                          $ 418        $ 433       $ 1,272     $ 1,288
  Other income                               45           43          136         105
         Total revenues                     463          476        1,408       1,393

Expenses:
  Operating                                 170          187          532         546
  General and administrative                 23           23           89         104
  Depreciation                              100           98          307         295
  Property taxes                             29           31          106         115
         Total expenses                     322          339        1,034       1,060

Net income                               $ 141        $ 137        $ 374       $ 333

Net income allocated to general
  partner (1%)                            $ 1          $ 1          $ 3         $ 3
Net income allocated to limited
  partners (99%)                            140          136          371         330

                                         $ 141        $ 137        $ 374       $ 333

Net income per limited partnership
  unit                                   $ 2.29       $ 2.23      $ 6.08      $ 5.40
Distributions per limited
  partnership unit                       $ 2.96       $ 2.50      $ 6.50      $ 9.07

                       See Accompanying Notes to Financial Statements

</TABLE>

<PAGE>

                       UNITED INVESTORS INCOME PROPERTIES

               STATEMENT OF CHANGES IN PARTNERS' (DEFICIT) 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' (deficit) capital at
   December 31, 2001                  61,063      $ (59)      $ 7,276      $ 7,217

Distributions to partners                 --          (4)        (397)        (401)

Net income for the nine months
   ended September 30, 2002               --           3          371          374

Partners' (deficit) capital
   at September 30, 2002              61,063      $ (60)      $ 7,250      $ 7,190

                       See Accompanying Notes to Financial Statements

</TABLE>

<PAGE>

                       UNITED INVESTORS INCOME PROPERTIES

                            STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                 (in thousands)

<TABLE>
<CAPTION>

                                                                   Nine Months Ended
                                                                     September 30,
                                                                   2002         2001
Cash flows from operating activities:
<S>                                                               <C>          <C>
  Net income                                                      $ 374        $ 333
  Adjustments to reconcile net income to net cash provided
   by operating activities:
     Depreciation                                                    307          295
     Change in accounts:
      Receivables and deposits                                       (13)          24
      Other assets                                                    18           19
      Accounts payable                                                 3           29
      Tenant security deposit liabilities                              1            2
      Accrued property taxes                                          15           33
      Other liabilities                                              (32)         (10)
        Net cash provided by operating activities                    673          725

Cash flows used in investing activities:
  Property improvements and replacements                             (88)        (194)

Cash flows used in financing activities:
  Distributions to partners                                         (401)        (560)

Net increase (decrease) in cash and cash equivalents                 184          (29)

Cash and cash equivalents at beginning of period                     228          332

Cash and cash equivalents at end of period                        $ 412        $ 303

                       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"),  a
Delaware corporation,  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, 2002 are not
necessarily  indicative  of the results that may be expected for the fiscal year
ending  December  31,  2002.  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, 2001. The General  Partner is
an  affiliate  of Apartment  Investment  and  Management  Company  ("AIMCO"),  a
publicly traded real estate investment trust.

Note B - Transactions with Affiliated Parties

The Partnership has no employees and is dependent 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.

During the nine months  ended  September  30, 2002 and 2001,  affiliates  of the
General  Partner were  entitled to receive 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 $72,000 for both
the nine  months  ended  September  30,  2002 and  2001,  which is  included  in
operating expenses.

An  affiliate  of the General  Partner  received  reimbursement  of  accountable
administrative  expenses amounting to approximately  $53,000 and $48,000 for the
nine months ended September 30, 2002 and 2001,  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 commission is not payable until the limited
partners receive  distributions equal to their adjusted capital investment and a
cumulative  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, 2002, the limited partners had not received their
priority return.  Therefore,  the commission is included in other liabilities at
September 30, 2002.

Beginning in 2001, the  Partnership  began insuring its properties up to certain
limits through coverage provided by AIMCO which is generally  self-insured for a
portion of losses and  liabilities  related  to workers  compensation,  property
casualty and vehicle liability. The Partnership insures its properties above the
AIMCO  limits  through  insurance  policies  obtained  by  AIMCO  from  insurers
unaffiliated  with the General  Partner.  During the nine months ended September
30,  2002 and 2001,  the  Partnership  was  charged by AIMCO and its  affiliates
approximately $19,000 and $20,000, respectively, for insurance coverage and fees
associated with policy claims administration.


<PAGE>




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

The Private  Securities  Litigation  Reform Act of 1995 provides a "safe harbor"
for forward-looking  statements in certain circumstances.  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. The discussions of the Registrant's business and results
of operations,  including forward-looking statements pertaining to such matters,
do not take into account the effects of any changes to the Registrant's business
and  results of  operations.  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; 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 three apartment  complexes.
The following table sets forth the average  occupancy of the properties for each
of the nine months ended September 30, 2002 and 2001:

                                                   Average Occupancy
      Property                                      2002       2001

      Bronson Place Apartments                      88%        94%
         Mountlake Terrace, Washington
      Meadow Wood Apartments                        94%        94%
         Medford, Oregon
      Defoors Crossing Apartments                   94%        91%
         Atlanta, Georgia

The  General  Partner  attributes  the  decreased  occupancy  at  Bronson  Place
Apartments  to  increased  layoffs in the area and  increased  competition  from
nearby  properties.  The General Partner  attributes the increased  occupancy at
Defoors  Crossing  Apartments to a more aggressive  pricing approach used during
the first three quarters of 2002.

Results of Operations

The  Partnership  realized  net income of  approximately  $374,000  for the nine
months  ended  September  30,  2002,  compared  to net  income of  approximately
$333,000 for the nine months ended  September 30, 2001.  The  Partnership's  net
income for the three months ended September 30, 2002 was approximately  $141,000
compared to net income of  approximately  $137,000  for the three  months  ended
September  30,  2001.  The  increase  in net  income for the nine  months  ended
September  30, 2002 is due to an increase  in total  revenues  and a decrease in
total expenses.  The increase in net income for the three months ended September
30,  2002 is due to a  decrease  in  total  expenses  which  partially  offset a
decrease in total revenues.

Total revenues  increased for the nine months ended September 30, 2002 due to an
increase in other income partially offset by a decrease in rental income.  Total
revenues  decreased  for the three  months  ended  September  30,  2002 due to a
decrease in rental income partially offset by an increase in other income. Other
income  increased for the three and nine months ended  September 30, 2002 due to
increased  utility  reimbursements  at all of the  Partnership's  properties and
increased  lease  cancellation  fees at Bronson Place and Meadow Wood Apartments
partially  offset by reduced  interest income  resulting from lower average cash
balances  maintained in interest bearing  accounts.  Rental income decreased for
the three and nine months ended September 30, 2002 due to decreased occupancy at
Bronson  Place  Apartments  and a decrease  in average  rental  rates at Defoors
Crossing  Apartments  partially  offset by an increase in  occupancy  at Defoors
Crossing Apartments,  and a decrease in concessions at Bronson Place and Defoors
Crossing Apartments.

Total expenses  decreased for the three and nine months ended September 30, 2002
primarily  due to decreased  operating and general and  administrative  expenses
partially  offset by an increase in  depreciation  expense.  Operating  expenses
decreased  primarily due to reduced  maintenance  expenses  partially  offset by
increased administrative expenses. Maintenance expenses decreased due to reduced
contract  labor  primarily  at Meadow Wood  Apartments.  Administrative  expense
increased  due  to  increased   professional  fees  paid  by  the  Partnership's
properties  and  increased   telephone   answering  service  costs  at  all  the
Partnership's   properties.   General  and  administrative   expenses  decreased
primarily due to reduced  administrative  and  professional  expenses  partially
offset  by  increases  in the  cost  of  services  included  in  the  management
reimbursements  paid to the  General  Partner as allowed  under the  Partnership
Agreement.  Also included in general and administrative expenses during the nine
months ended September 30, 2002 and 2001 are costs associated with the quarterly
and annual  communications with investors and regulatory agencies and the annual
audit required by the Partnership Agreement. Depreciation expenses increased due
to capital  improvements  completed  during the past twelve months which are now
being depreciated.

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.  Due to changing  market  conditions,  which can
result  in the  use of  rental  concessions  and  rental  reductions  to  offset
softening market conditions, there is no guarantee that the General Partner will
be able to sustain such a plan.

Liquidity and Capital Resources

At  September  30,  2002,  the  Partnership  had cash and  cash  equivalents  of
approximately $412,000 compared to approximately $303,000 at September 30, 2001.
Cash and cash equivalents increased by approximately $184,000 since December 31,
2001, due to  approximately  $673,000 of cash provided by operating  activities,
which was partially offset by  approximately  $401,000 of cash used in financing
activities and approximately $88,000 of cash used in investing activities.  Cash
used in financing  activities  consisted of distributions  paid to the partners.
Cash  used in  investing  activities  consisted  of  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  and is
studying  new  federal  laws,  including  the  Sarbanes-Oxley  Act of 2002.  The
Sarbanes-Oxley Act of 2002 mandates or suggests  additional  compliance measures
with regard to governance,  disclosure, audit and other areas. In light of these
changes,  the Partnership  expects that it will incur higher expenses related to
compliance,  including  increased  legal and audit  fees.  Capital  improvements
planned for each of the Partnership's properties are detailed below.

Bronson Place

During  the  nine  months  ended  September  30,  2002,  the  Partnership  spent
approximately  $36,000 on  budgeted  and  nonbudgeted  capital  improvements  at
Bronson Place Apartments,  consisting  primarily of floor covering  replacements
and structural improvements.  These improvements were funded from cash flow from
operations.  The Partnership has evaluated the capital  improvement needs of the
property  for the year  2002.  The amount  budgeted  is  approximately  $31,000,
consisting  primarily of floor covering and appliance  replacements.  Additional
improvements may be considered and will depend on the physical  condition of the
property as well as anticipated cash flow generated by the property.

Meadow Wood

During  the  nine  months  ended  September  30,  2002,  the  Partnership  spent
approximately  $34,000  on  capital  improvements  at  Meadow  Wood  Apartments,
consisting  primarily of swimming pool upgrades and floor covering and appliance
replacements. These improvements were funded from cash flow from operations. The
Partnership has evaluated the capital  improvement needs of the property for the
year 2002. The amount budgeted is approximately $35,000, consisting primarily of
appliance,  air conditioning  unit and floor covering  replacements.  Additional
improvements may be considered and will depend on the physical  condition of the
property as well as anticipated cash flow generated by the property.

Defoors Crossing

During  the  nine  months  ended  September  30,  2002,  the  Partnership  spent
approximately  $18,000 on capital  improvements at Defoors Crossing  Apartments,
consisting  primarily  of  floor  covering  and  appliance  replacements.  These
improvements  were funded from cash flow from  operations.  The  Partnership has
evaluated the capital  improvement  needs of the property for the year 2002. The
amount budgeted is approximately $29,000, consisting primarily of floor covering
replacements and water  submetering.  Additional  improvements may be considered
and will depend on the physical condition of the property as well as anticipated
cash flow generated by the property.

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

The Partnership  distributed the following  amounts during the nine months ended
September 30, 2002 and 2001 (in thousands, except per unit data):

<TABLE>
<CAPTION>

                   Nine Months       Per Limited      Nine Months        Per Limited
                      Ended          Partnership         Ended           Partnership
                September 30, 2002      Unit       September 30, 2001       Unit

<S>                   <C>              <C>               <C>               <C>
Operations            $ 401            $ 6.50            $ 560             $ 9.07
</TABLE>

Future cash  distributions  will depend on the levels of net cash generated from
operations,  the  availability  of cash  reserves,  and the timing of financings
and/or  property sales.  The  Partnership's  cash available for  distribution is
reviewed  on a monthly  basis.  There  can be no  assurance,  however,  that the
Partnership  will  generate  sufficient  funds from  operations  after  required
capital  improvements  to permit any  additional  distributions  to its partners
during the remainder of 2002 or subsequent periods.

Other

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates  owned 23,320 limited  partnership  units
(the "Units") in the Partnership representing 38.19% of the outstanding units at
September  30,  2002. A number of these Units were  acquired  pursuant to tender
offers  made by  AIMCO  or its  affiliates.  It is  possible  that  AIMCO or its
affiliates will acquire additional Units of limited partnership  interest in the
Partnership  in  exchange  for cash or a  combination  of cash and  units in the
operating  partnership  of AIMCO  either  through  private  purchases  or tender
offers.  In this  regard,  on  September  27,  2002,  a  tender  offer  by AIMCO
Properties,  L.P. to acquire all of the Units not owned by  affiliates  of AIMCO
for a purchase price of $126.00 per Unit expired.  Pursuant to this offer, AIMCO
acquired  2,235 Units during the quarter  ended  September  30, 2002.  Under the
Partnership Agreement,  unitholders holding a majority of the Units are entitled
to take action with respect to a variety of matters which would  include  voting
on certain  amendments  to the  Partnership  Agreement  and voting to remove the
General  Partner.  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  changes  in the
national,  regional and local economic  climate;  local  conditions,  such as an
oversupply  of  multifamily   properties;   competition   from  other  available
multifamily  property  owners and changes in market  rental  rates.  Any adverse
changes in these factors could cause an impairment in the Partnership's assets.

Revenue Recognition

The Partnership generally leases apartment units for twelve-month terms or less.
Rental income  attributable to leases is recognized monthly as it is earned. The
Partnership will offer rental concessions during  particularly slow months or in
response  to  heavy  competition  from  other  similar  complexes  in the  area.
Concessions are charged to income as incurred.

ITEM 3.     CONTROLS AND PROCEDURES

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,  within 90 days of the
filing  date  of this  quarterly  report,  evaluated  the  effectiveness  of the
Partnership's  disclosure  controls and  procedures  (as defined in Exchange Act
Rules  (13a-14(c)  and  (15d-14(c))  and have  determined  that such  disclosure
controls and procedures are adequate.  There have been no significant changes in
the Partnership's internal controls or in other factors that could significantly
affect the  Partnership's  internal  controls since the date of evaluation.  The
Partnership does not believe any significant deficiencies or material weaknesses
exist in the Partnership's internal controls. Accordingly, no corrective actions
have been taken.



<PAGE>


                           PART II - OTHER INFORMATION



ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K

            a) Exhibits:

                  Exhibit  3.1,  Form of  Agreement  of Limited  Partnership  of
                  Partnership (filed on May 2, 1988 as part of the Prospectus of
                  Partnership  contained in the  Partnership's  Amendment to the
                  Registration   Statement   and  is   incorporated   herein  by
                  reference).

                  Exhibit  3.2,  Tenth  Amendment  to the  Agreement  of Limited
                  Partnership of  Partnership  (filed on May 15, 1989 as Exhibit
                  4.3 to the Quarterly  Report on Form 10-Q and is  incorporated
                  herein by reference).

                  Exhibit 3.3,  Certificate of Limited Partnership (Exhibit 3 to
                  Partnership's   Form  8-K   filed  on  April  29,   1991,   is
                  incorporated herein by reference).

                  Exhibit 99, Certification of Chief Executive Officer and Chief
                  Financial  Officer.

            b) Reports on Form 8-K filed during the quarter ended  September 30,
               2002:

                  Current  Report on Form 8-K/A dated June 27, 2002 and filed on
                  July 16,  2002,  disclosing  the  dismissal of KPMG LLP as the
                  Registrant's certifying auditor and the appointment of Ernst &
                  Young  LLP,  as the  certifying  auditor  for the year  ending
                  December 31, 2002.





<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.
                                          General Partner


                                    By:   /s/Patrick J. Foye
                                          Patrick J. Foye
                                          Executive Vice President


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


                                    Date: November 13, 2002



<PAGE>



                                  CERTIFICATION


I, Patrick J. Foye, certify that:


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


2. Based on my  knowledge,  this  quarterly  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 quarterly
report;


3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;


4.  The  registrant's  other  certifying  officers  and  I are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:


      a)  Designed  such  disclosure  controls  and  procedures  to ensure  that
      material   information   relating  to  the   registrant,   including   its
      consolidated  subsidiaries,  is made  known to us by others  within  those
      entities, particularly during the period in which this quarterly report is
      being prepared;


      b) Evaluated the effectiveness of the registrant's disclosure controls and
      procedures  as of a date  within 90 days prior to the filing  date of this
      quarterly report (the "Evaluation Date"); and


      c)  Presented  in  this  quarterly   report  our  conclusions   about  the
      effectiveness  of the  disclosure  controls  and  procedures  based on our
      evaluation as of the Evaluation Date;


5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation,  to the registrant's auditors and the audit committee of
registrant's   board  of  directors  (or  persons   performing   the  equivalent
functions):


      a) All  significant  deficiencies  in the design or  operation of internal
      controls which could adversely affect the registrant's  ability to record,
      process,  summarize and report  financial data and have identified for the
      registrant's auditors any material weaknesses in internal controls; and


      b) Any fraud,  whether or not material,  that involves management or other
      employees  who  have  a  significant  role  in the  registrant's  internal
      controls; and


6. The  registrant's  other  certifying  officers  and I have  indicated in this
quarterly  report  whether or not there  were  significant  changes in  internal
controls or in other factors that could  significantly  affect internal controls
subsequent to the date of our most recent  evaluation,  including any corrective
actions with regard to significant deficiencies and material weaknesses.


Date:  November 13, 2002

                                    _______________________
                                    Patrick J. Foye
                                    Executive Vice President of United Investors
                                    Real Estate, Inc., equivalent of the chief
                                    executive officer  of the Partnership


<PAGE>



                                  CERTIFICATION


I, Paul J. McAuliffe, certify that:


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


2. Based on my  knowledge,  this  quarterly  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 quarterly
report;


3.  Based  on my  knowledge,  the  financial  statements,  and  other  financial
information  included in this quarterly  report,  fairly present in all material
respects the financial  condition,  results of operations  and cash flows of the
registrant as of, and for, the periods presented in this quarterly report;


4.  The  registrant's  other  certifying  officers  and  I are  responsible  for
establishing and maintaining  disclosure  controls and procedures (as defined in
Exchange Act Rules 13a-14 and 15d-14) for the registrant and we have:


      a)  Designed  such  disclosure  controls  and  procedures  to ensure  that
      material   information   relating  to  the   registrant,   including   its
      consolidated  subsidiaries,  is made  known to us by others  within  those
      entities, particularly during the period in which this quarterly report is
      being prepared;


      b) Evaluated the effectiveness of the registrant's disclosure controls and
      procedures  as of a date  within 90 days prior to the filing  date of this
      quarterly report (the "Evaluation Date"); and


      c)  Presented  in  this  quarterly   report  our  conclusions   about  the
      effectiveness  of the  disclosure  controls  and  procedures  based on our
      evaluation as of the Evaluation Date;


5. The registrant's other certifying officers and I have disclosed, based on our
most recent evaluation,  to the registrant's auditors and the audit committee of
registrant's   board  of  directors  (or  persons   performing   the  equivalent
functions):


      a) All  significant  deficiencies  in the design or  operation of internal
      controls which could adversely affect the registrant's  ability to record,
      process,  summarize and report  financial data and have identified for the
      registrant's auditors any material weaknesses in internal controls; and


      b) Any fraud,  whether or not material,  that involves management or other
      employees  who  have  a  significant  role  in the  registrant's  internal
      controls; and


6. The  registrant's  other  certifying  officers  and I have  indicated in this
quarterly  report  whether or not there  were  significant  changes in  internal
controls or in other factors that could  significantly  affect internal controls
subsequent to the date of our most recent  evaluation,  including any corrective
actions with regard to significant deficiencies and material weaknesses.


Date:  November 13, 2002

                                    _______________________
                                    Paul J. McAuliffe
                                    Executive Vice President and Chief Financial
                                    Officer of United Investors Real Estate,
                                    Inc.,  equivalent of the chief financial
                                    officer of the Partnership


<PAGE>


Exhibit 99


                          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, 2002 as filed with the Securities and Exchange Commission on the date hereof
(the  "Report"),  Patrick  J. Foye,  as the  equivalent  of the chief  executive
officer of the  Partnership,  and Paul J.  McAuliffe,  as the  equivalent of the
chief financial officer of the Partnership,  each hereby certifies,  pursuant to
18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002, that, to the best of his knowledge:

     (1)  The Report fully  complies with the  requirements  of Section 13(a) or
          15(d) of the Securities Exchange Act of 1934; and

     (2)  The  information  contained  in the  Report  fairly  presents,  in all
          material respects,  the financial  condition and results of operations
          of the Partnership.


                               /s/ Patrick J. Foye
                              Name: Patrick J. Foye
                              Date: November 13, 2002


                              /s/ Paul J. McAuliffe
                             Name: Paul J. McAuliffe
                             Date: November 13, 2002


This  certification  accompanies  the  Report  pursuant  to  Section  906 of the
Sarbanes-Oxley  Act of 2002 and shall not,  except to the extent required by the
Sarbanes-Oxley  Act of 2002, be deemed filed by the  Partnership for purposes of
Section 18 of the Securities Exchange Act of 1934, as amended.