DSI REALTY INCOME FUND VI
(A California Real Estate Limited Partnership)
BALANCE SHEETS(UNAUDITED), SEPTEMBER 30, 2000 AND DECEMBER 31, 1999
September 30, December 31,
2000 1999
ASSETS
CASH AND CASH EQUIVALENTS $1,116,003 $ 559,869
PROPERTY, Net 2,890,629 3,176,287
OTHER ASSETS 60,381 60,379
TOTAL $4,067,013 $3,796,535
LIABILITIES AND PARTNERS' EQUITY (DEFICIT)
LIABILITIES $441,200 $367,509
PARTNERS' EQUITY (DEFICIT):
General Partners (57,028) (58,996)
Limited Partners 3,682,841 3,488,022
Total partners' equity 3,625,813 3,429,026
TOTAL $4,067,013 $3,796,535
See accompanying notes to financial statements (unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
September 30, September 30,
2000 1999
REVENUES:
Rental Income $803,919 $741,280
Interest 3,102 2,377
Total revenue 807,021 743,657
EXPENSES:
Operating 386,830 361,922
General and administrative 55,402 54,819
Total expenses 442,232 416,741
NET INCOME $364,789 $326,916
AGGREGATE NET INCOME ALLOCATED TO:
Limited partners $361,141 $323,647
General partners 3,648 3,269
TOTAL $364,789 $326,916
NET INCOME PER
LIMITED PARTNERSHIP UNIT $15.20 $13.63
LIMITED PARTNERSHIP
UNITS USED IN PER
UNIT CALCULATION 23,753 23,753
See accompanying notes to financial statements(unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
September 30, September 30,
2000 1999
REVENUES:
Rental income $2,314,528 $2,146,460
Interest 8,480 7,112
Total revenues 2,323,008 2,153,572
EXPENSES:
Operating 1,089,379 1,060,280
General and administrative 227,082 206,709
Total expenses 1,316,461 1,266,989
NET INCOME 1,006,547 886,583
AGGREGATE NET INCOME ALLOCATED TO:
Limited Partners 996,482 877,717
General Partners 10,065 8,866
TOTAL 1,006,547 886,583
NET INCOME PER LIMITED
PARTNERSHIP UNIT $ 41.95 $ 36.95
LIMITED PARTNERSHIP UNITS
USED IN PER UNIT CALCULATION 23,753 23,753
See accompanying notes to financial statements (unaudited).
STATEMENTS OF CHANGES IN PARTNERS' EQUITY (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
BALANCE AT JANUARY 1, 1999 ($55,794) $3,805,019 $3,749,225
NET INCOME 8,866 877,717 886,583
DISTRIBUTIONS (8,097) (801,663) (809,760)
BALANCE AT SEPTEMBER 30, 1999 ($55,025) $3,881,073 $3,826,048
BALANCE AT JANUARY 1, 2000 ($58,996) $3,488,022 $3,429,026
NET INCOME 10,065 996,482 1,006,547
DISTRIBUTIONS (8,097) (801,663) (809,760)
BALANCE AT SEPTEMBER 30, 2000 ($57,028) $3,682,841 $3,625,813
See accompanying notes to financial statements (unaudited).
STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2000 AND 1999
September 30, September 30,
2000 1999
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income $1,006,547 $ 886,583
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 314,415 314,415
Changes in assets and liabilities:
Increase in other assets (2) (1,704)
(Increase)decrease in liabilities 73,691 (8,079)
Net cash provided by operating
activities 1,394,651 1,191,215
CASH FLOWS FROM INVESTING ACTIVITIES -
Additions to property (28,757) (19,303)
CASH FLOWS FROM FINANCING ACTIVITIES -
Distributions to partners (809,760) (809,760)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 556,134 362,152
CASH AND CASH EQUIVALENTS:
At beginning of period 559,869 546,110
At end of period $1,116,003 $ 908,262
See accompanying notes to financial statements (unaudited).
DSI REALTY INCOME FUND VI
(A California Real Estate Limited Partnership)
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
1. GENERAL
DSI Realty Income Fund VI (the "Partnership"), a limited partnership, has two
general partners (DSI Properties, Inc., and Diversified Investors Agency)
and limited partners owning 23,753 limited partnership units. The Partnership
was formed under the California Uniform Limited Partnership Act for the
primary purpose of acquiring and operating real estate.
The accompanying financial information as of September 30, 2000, and for
the periods ended September 30, 2000 and 1999, is unaudited. Such financial
information includes all adjustments which are considered necessary by the
Partnership's management for a fair presentation of the results for the
periods indicated.
2. PROPERTY
Properties owned by the Partnership are all mini-storage facilities.
Depreciation is calculated using the straight line method over the estimated
useful life of 20 years. The total cost of property and accumulated
depreciation at September 30, 2000, is as follows:
Land $ 1,759,000
Buildings 8,518,313
Furniture and Equipment 38,710
Total 10,316,023
Less: Accumulated Depreciation ( 7,425,394)
Property - Net $ 2,890,629
3. NET INCOME PER LIMITED PARTNERSHIP UNIT
Net income per limited partnership unit is calculated by dividing the
net income allocated to the limited partners by the number of limited
partnership units outstanding during the period.