EXHIBIT 23.1


                   CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS


We   consent  to  the  incorporation  by  reference  in  the  previously   filed
Registration Statement No. 333-29485 of Health Care Property Investors, Inc.  of
our  report  dated  June 17, 1998, with respect to the Pro Forma  Statements  of
Operations of the Acquired Properties (as listed in Item 2 of the Current Report
on  Form  8-K) included in the Current Report on Form 8-K dated June  17,  1998,
filed with the Securities and Exchange Commission.



ARTHUR ANDERSEN LLP

Los Angeles, California
June 17, 1998