DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)
BALANCE SHEETS(UNAUDITED), SEPTEMBER 30, 1995 AND DECEMBER 31, 1994
September 30, December 31
1995 1994
ASSETS
CASH AND CASH EQUIVALENTS $1,075,711 $ 590,983
PROPERTY 8,733,505 9,123,547
OTHER ASSETS 73,644 324,827
TOTAL $9,882,860 $10,039,357
LIABILITIES AND PARTNERS' EQUITY
LIABILITIES $1,660,503 $1,568,004
PARTNERS' EQUITY:
General Partners (59,804) (57,314)
Limited Partners 8,282,161 8,528,667
Total partners' equity 8,222,357 8,471,353
TOTAL $9,882,860 $10,039,357
See accompanying notes to financial statements(unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1995 AND 1994
September 30, September 30,
1995 1994
REVENUES:
Rental Income $673,177 $602,208
Interest 8,436 4,414
Total revenue 681,613 606,622
EXPENSES:
Operating Expenses 347,319 284,861
General and administrative 35,924 39,182
Total expenses 383,243 324,043
NET INCOME $298,370 $282,579
AGGREGATE NET INCOME ALLOCATED TO :
Limited partners $295,386 $279,753
General partners 2,984 2,826
TOTAL $298,370 $282,579
NET INCOME PER
LIMITED PARTNERSHIP UNIT $9.29 $8.80
LIMITED PARTNERSHIP
UNITS USED IN PER
UNIT CALCULATION 31,783 31,783
See accompanying notes to financial statements(unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1995 AND 1994
September 30, September 30,
1995 1994
REVENUES:
Rental Income $1,871,445 $1,696,214
Interest 22,591 7,370
Total Revenues 1,894,036 1,703,584
EXPENSES:
Operating Expenses 1,028,328 955,079
General and Administrative 151,584 133,840
Total Expenses 1,179,912 1,088,919
NET INCOME $ 714,124 $ 614,665
AGGREGATE NET INCOME ALLOCATED TO:
Limited partners $ 706,983 $ 608,518
General partners 7,141 6,147
TOTAL $ 714,124 $ 614,665
NET INCOME PER LIMTED PARTNERSHIP
UNIT $22.24 $19.15
LIMITED PARTNERSHIP UNITS USED IN
PER UNIT CALCULATION 31,783 31,783
See accompanying notes to financial statements (unaudited)
STATEMENTS OF CHANGES IN PARTNERS' EQUITY (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1995 AND 1994
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
EQUITY AT DECEMBER 31, 1993 ($54,311) $8,825,977 $8,771,666
NET INCOME 6,147 608,518 614,665
DISTRIBUTIONS (8,427) (834,304) (842,731)
EQUITY AT SEPTEMBER 30, 1994 ($56,591) $8,600,191 $8,543,600
EQUITY AT DECEMBER 31, 1994 ($57,314) $8,528,667 $8,471,353
NET INCOME 7,141 706,983 714,124
DISTRIBUTIONS (9,631) (953,499) (963,120)
EQUITY AT SEPTEMBER 30, 1995 ($59,804) $8,282,161 $8,222,357
See accompanying notes to financial statements(unaudited).
STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1995 AND 1994
September 30, September 30,
1995 1994
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income $ 714,124 $ 614,665
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 403,896 403,896
Changes in assets and liabilities:
Decrease(Increase) in other assets 251,183 (52,564)
Increase in liabilities 92,499 248,565
Net cash provided by operating
activities 1,461,702 1,214,562
CASH FLOWS FROM INVESTING ACTIVITIES-
Purchase of property and equipment (13,854) (56,311)
CASH FLOWS FROM FINANCING ACTIVITIES -
Distributions to partners (963,120) (842,731)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 484,728 315,520
CASH AND CASH EQUIVALENTS:
At beginning of period 590,983 413,041
At end of period $1,075,711 $ 728,561
See accompanying notes to financial statements(unaudited).
DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
1. GENERAL
DSI Realty Income Fund X (the "Partnership") has three general partners
(DSI Properties, Inc., Robert J. Conway and Joseph W. Conway) and
limited partners owning 31,783 limited partnership units.
The accompanying financial information as of September 30, 1995, and for
the periods ended September 30, 1995 and 1994 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
The Partnership owns five mini-storage facilities. Two facilities are
located in Warren, Michigan; one facility is located in Troy, Michigan;
one facility is located in Crestwood, Illinois; and one facility is
located in Forestville, Maryland. As of September 30, 1995, the total cost
and accumulated depreciation of the mini-storage facilities is as
follows:
Land $ 2,089,882
Buildings 10,603,413
Furniture and Equipment 2,799
Total 12,696,094
Less: Accumulated Depreciation ( 3,962,589)
Property - Net $ 8,733,505
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.