DSI REALTY INCOME FUND VI
(A California Real Estate Limited Partnership)
BALANCE SHEETS(UNAUDITED), SEPTEMBER 30, 1996 AND DECEMBER 31, 1995
September 30, December 31,
1996 1995
ASSETS
CASH AND CASH EQUIVALENTS $ 804,550 $ 506,933
PROPERTY 4,428,779 4,739,872
OTHER ASSETS 77,595 38,342
TOTAL $5,310,924 $5,285,147
LIABILITIES AND PARTNERS' EQUITY
LIABILITIES $365,782 $364,137
PARTNERS' EQUITY:
General Partners (43,834) (44,075)
Limited Partners 4,988,975 4,965,085
Total partners' equity 4,945,142 4,921,010
TOTAL $5,310,924 $5,285,147
See accompanying notes to financial statements (unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1996 AND 1995
September 30, September 30,
1996 1995
REVENUES:
Rental Income $651,542 $643,148
Interest 5,205 4,552
Total revenue 656,747 647,700
EXPENSES:
Operating Expenses 299,996 303,960
General and administrative 48,109 47,881
Total expenses 348,105 351,841
NET INCOME $308,642 $295,859
AGGREGATE NET INCOME ALLOCATED TO:
Limited partners $305,556 $292,900
General partners 3,086 2,959
TOTAL $308,642 $295,859
NET INCOME PER
LIMITED PARTNERSHIP UNIT $12.86 $12.33
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, 1996 AND 1995
September 30, September 30,
1996 1995
REVENUES:
Rental Income $1,894,939 $1,871,663
Interest 12,905 10,448
Total Revenues 1,907,844 1,882,111
EXPENSES:
Operating Expenses 902,949 891,216
General and administrative 171,003 167,892
Total expenses 1,073,952 1,059,108
NET INCOME 833,892 823,003
AGGREGATE NET INCOME ALLOCATED TO:
Limited Partners 825,553 814,773
General Partners 8,338 8,230
TOTAL 833,892 823,003
NET INCOME PER LIMITED
PARTNERSHIP UNIT 34.76 34.30
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, 1996 AND 1995
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
EQUITY AT DECEMBER 31, 1994 ($41,352) $5,234,694 $5,193,342
NET INCOME 8,230 814,773 823,003
DISTRIBUTIONS (8,097) (801,663) (809,760)
EQUITY AT SEPTEMBER 30, 1995 ($41,219) $5,247,804 $5,206,585
EQUITY AT DECEMBER 31, 1995 ($44,075) $4,965,085 $4,921,010
NET INCOME 8,338 825,553 833,892
DISTRIBUTIONS (8,097) (801,663) (809,760)
EQUITY AT SEPTEMBER 30, 1996 ($43,834) $4,988,975 $4,945,142
See accompanying notes to financial statements (unaudited).
STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1996 AND 1995
September 30, September 30,
1996 1995
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income $ 833,892 $ 823,003
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 311,094 311,094
Changes in assets and liabilities:
Increase in other assets (39,253) (26,990)
Increase in liabilities 1,644 40,337
Net cash provided by operating
activities 1,107,377 1,147,444
CASH FLOWS FROM INVESTING ACTIVITIES -
Purchase of property & equipment (32,387)
CASH FLOWS FROM FINANCING ACTIVITIES -
Distributions to partners (809,760) (809,760)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 297,617 305,297
CASH AND CASH EQUIVALENTS:
At beginning of period 506,933 407,250
At end of period $ 804,550 $ 712,547
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, 1996, and for
the periods ended September 30, 1996 and 1995, 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, 1996, is as follows:
Land $ 1,759,000
Buildings 8,364,514
Furniture and Equipment 35,185
Total 10,158,699
Less: Accumulated Depreciation ( 5,729,920)
Property - Net $ 4,428,779
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.