DSI REALTY INCOME FUND X
(A California Real Estate Limited Partnership)
BALANCE SHEETS(UNAUDITED), JUNE 30, 1997 AND DECEMBER 31, 1996
June 30, December 31,
1997 1996
ASSETS
CASH AND CASH EQUIVALENTS $1,506,193 $1,455,407
PROPERTY 8,015,853 8,283,118
OTHER ASSETS 72,944 72,944
TOTAL $9,594,990 $9,811,469
LIABILITIES AND PARTNERS' EQUITY
LIABILITIES $1,949,225 $2,008,655
PARTNERS' EQUITY:
General Partners (65,570) (64,000)
Limited Partners 7,711,335 7,866,814
Total partners' equity 7,645,765 7,802,814
TOTAL $9,594,990 $9,811,469
See accompanying notes to financial statements(unaudited).
STATEMENTS OF INCOME (UNAUDITED)
FOR THE THREE MONTHS ENDED JUNE 30, 1997 AND 1996
June 30, June 30,
1997 1996
REVENUES:
Rental Income $642,026 $662,523
Interest 12,126 11,741
Total revenue 654,152 674,264
EXPENSES:
Operating Expenses 368,755 338,399
General and administrative 59,515 50,527
Total expenses 428,270 388,926
NET INCOME $225,882 $285,338
AGGREGATE NET INCOME ALLOCATED TO :
Limited partners $223,623 $282,485
General partners 2,259 2,853
TOTAL $225,882 $285,338
NET INCOME PER
LIMITED PARTNERSHIP UNIT $7.04 $8.89
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 SIX MONTHS ENDED JUNE 30, 1997 AND 1996
June 30, June 30,
1997 1996
REVENUES:
Rental Income $1,287,272 $1,298,284
Interest 23,435 20,155
Total revenues 1,310,707 1,318,439
EXPENSES:
Operating Expenses 702,209 680,939
General and administrative 123,467 118,003
Total expenses 825,676 798,942
NET INCOME 485,031 519,497
AGGREGATE NET INCOME ALLOCATED TO:
Limited partners $480,181 $514,302
General partners 4,850 5,195
TOTAL $485,031 $519,497
NET INCOME PER LIMITED
PARTNERSHIP UNIT $15.11 $16.18
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 THREE MONTHS ENDED JUNE 30, 1997 AND 1996
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
EQUITY AT DECEMBER 31, 1995 ($60,475) $8,215,788 $8,155,313
NET INCOME 5,195 514,302 519,497
DISTRIBUTIONS (6,420) (635,660) (642,080)
EQUITY AT JUNE 30, 1996 ($61,700) $8,094,430 $8,032,730
EQUITY AT DECEMBER 31, 1996 ($64,000) $7,866,814 $7,802,814
NET INCOME 4,850 480,181 485,031
DISTRIBUTIONS (6,420) (635,660) (642,080)
EQUITY AT JUNE 30, 1997 ($65,570) $7,711,335 $7,645,765
See accompanying notes to financial statements(unaudited).
STATEMENTS OF CASH FLOWS (UNAUDITED)
FOR THE THREE MONTHS ENDED JUNE 30, 1997 AND 1996
June 30, June 30,
1997 1996
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income $ 485,031 $ 519,497
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 269,265 269,264
Changes in assets and liabilities:
Increase in other assets 0 0
(Decrease)Increase in liabilities (59,430) 145,953
Net cash provided by operating
activities 694,866 934,714
CASH FLOWS FROM INVESTING ACTIVITIES-
Purchase of property and equipment (2,000) (112,654)
CASH FLOWS FROM FINANCING ACTIVITIES -
Distributions to partners (642,080) (642,080)
NET INCREASE IN CASH AND CASH
EQUIVALENTS 50,786 179,980
CASH AND CASH EQUIVALENTS:
At beginning of period 1,455,407 1,132,783
At end of period $1,506,193 $1,312,763
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 June 30, 1997, and for
the periods ended June 30, 1997 and 1996 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 June 30, 1997, the total cost
and accumulated depreciation of the mini-storage facilities is as
follows:
Land $ 2,089,882
Buildings 10,824,909
Furniture and Equipment 2,799
Total 12,915,590
Less: Accumulated Depreciation ( 4,901,737)
Property - Net $ 8,015,853
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.