DSI REALTY INCOME FUND X
(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 $1,411,293 $1,132,783
PROPERTY 8,420,161 8,684,418
OTHER ASSETS 131,081 72,944
TOTAL $9,962,535 $9,890,145
LIABILITIES AND PARTNERS' EQUITY
LIABILITIES $1,934,760 $1,734,832
PARTNERS' EQUITY:
General Partners (61,749) (60,475)
Limited Partners 8,089,524 8,215,788
Total partners' equity 8,027,775 8,155,313
TOTAL $9,962,535 $9,890,145
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 $678,061 $673,177
Interest 11,844 8,436
Total revenue 689,905 681,613
EXPENSES:
Operating Expenses 333,821 347,319
General and administrative 39,999 35,924
Total expenses 373,820 383,243
NET INCOME $316,085 $298,370
AGGREGATE NET INCOME ALLOCATED TO :
Limited partners $312,924 $295,386
General partners 3,161 2,984
TOTAL $316,085 $298,370
NET INCOME PER
LIMITED PARTNERSHIP UNIT $9.85 $9.29
LIMITED PARTNERSHIP
UNITS USED IN PER
UNIT CALCULATION 31,783 31,783
See accompanying notes to financial statements(unaudited).
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STATEMENTS OF INCOME (UNAUDITED)
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1996 AND 1995
September 30, September 30,
1996 1995
REVENUES:
Rental Income $1,976,345 $1,871,445
Interest 31,999 22,591
Total revenues 2,008,344 1,894,036
EXPENSES:
Operating Expenses 1,014,760 1,028,328
General and administrative 158,002 151,584
Total expenses 1,172,762 1,179,912
NET INCOME 835,582 714,124
AGGREGATE NET INCOME ALLOCATED TO:
Limited partners 827,226 706,983
General partners 8,356 7,141
TOTAL 835,582 714,124
NET INCOME PER LIMITED
PARTNERSHIP UNIT $26.03 $22.24
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, 1996 AND 1995
GENERAL LIMITED
PARTNERS PARTNERS TOTAL
EQUITY AT DECEMBER 31, 1994 ($57,314) $8,528,667 $8,471,353
NET INCOME 7,141 706,983 714,124
DISTRIBUTIONS (9,630) (953,490) (963,120)
EQUITY AT SEPTEMBER 30, 1995 ($59,803) $8,282,160 $8,222,357
EQUITY AT DECEMBER 31, 1995 ($60,475) $8,215,788 $8,155,313
NET INCOME 8,356 827,226 835,582
DISTRIBUTIONS (9,630) (953,490) (963,120)
EQUITY AT SEPTEMBER 30, 1996 ($61,749) $8,089,524 $8,027,775
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 $ 835,582 $ 714,124
Adjustments to reconcile net
income to net cash provided
by operating activities:
Depreciation 403,896 403,896
Changes in assets and liabilities:
(Increase)Decrease in other assets (58,137) 251,183
Increase in liabilities 199,929 92,499
Net cash provided by operating
activities 1,381,270 1,461,702
CASH FLOWS FROM INVESTING ACTIVITIES-
Purchase of property and equipment (139,639) (13,854)
CASH FLOWS FROM FINANCING ACTIVITIES -
Distributions to partners (963,120) (963,120)
NET INCREASE IN CASH AND
CASH EQUIVALENTS 278,509 484,728
CASH AND CASH EQUIVALENTS:
At beginning of period 1,132,783 590,983
At end of period $1,411,293 $ 1,075,711
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, 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
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, 1996, the total
cost and accumulated depreciation of the mini-storage facilities is as
follows:
Land $ 2,089,882
Buildings 10,822,959
Furniture and Equipment 2,799
Total 12,915,640
Less: Accumulated Depreciation ( 4,495,479)
Property - Net $ 8,420,161
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.