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                                                                       EXHIBIT 4


                                      AIMCO
                   AIMCO/BETHESDA HOLDINGS ACQUISITIONS, INC.
                    c/o River Oaks Partnership Services, Inc.
                                  P.O. Box 2065
                         S. Hackensack, N.J., 07606-2065
                                 (888) 349-2005

                                 August 30, 2001

                       OFFER TO PURCHASE ASSIGNEE UNITS OF
               OXFORD RESIDENTIAL PROPERTIES I LIMITED PARTNERSHIP
                            FOR $862 PER UNIT IN CASH


Dear Limited Partner:

         We have begun a tender offer to purchase assignee units of limited
partnership interest in your partnership for $862 per unit. Our offer is being
made pursuant to the enclosed Offer to Purchase, which sets forth all of the
terms and conditions of the offer. Please carefully review the Offer to Purchase
prior to making a decision whether or not to tender your interests. The offer is
scheduled to expire at 5:00 p.m., New York City time, on September 28, 2001,
unless otherwise extended. You will not be required to pay any partnership
transfer fees in connection with any sale of your units pursuant to our offer.

         As you know, our affiliates have acquired interests in certain entities
affiliated with Oxford Realty Financial Group, Inc. and now control the managing
general partner of your partnership. OUR OFFER PRICE IS AT LEAST EQUAL TO THE
REAL ESTATE VALUES FOR YOUR PARTNERSHIP USED IN SUCH TRANSACTIONS.

         If we purchase your tendered units, you will receive cash, but you may
recognize a gain or loss for federal income tax purposes. If you retain your
units, you will continue to be a unitholder. However, you may not be able to
liquidate your investment until the partnership terminates.

         As with any investment decision, there are benefits and detriments to
you from accepting or declining our offer. The managing general partner of your
partnership is remaining neutral and makes no recommendation as to whether you
should tender or refrain from tendering your units in any offer. Although the
managing general partner believes our offer is fair, it also believes that you
must make your own decision whether or not to participate in any offer, based
upon a number of factors described in the Offer to Purchase.



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         The managing general partner of your partnership is our affiliate. As a
result, it has substantial conflicts of interest with respect to our offer. This
conflict may affect the managing general partner's ability to reconcile our
interests with those of the other unitholders, particularly in assessing the
fairness of our offer price. We seek to purchase units at a low price, but you
desire to sell units at a high price. In addition, your managing general partner
is entitled to receive fees for certain transactions involving the Partnership
and its properties, and the Partnership's property manager, which is also our
affiliate, is entitled to receive fees for managing the Partnership's
properties.

         If you desire to tender any of your units in response to our offer, you
should complete and sign the enclosed acknowledgment and agreement in accordance
with the instructions set forth the letter of transmittal attached as Annex II
to the Offer to Purchase. The signed acknowledgment and agreement and any other
required documents should be sent to the Information Agent, River Oaks
Partnership Services, Inc., prior to the expiration of our offer. The addresses
for the Information Agent are P.O. Box 2065, South Hackensack, New Jersey
07606-2065 or by overnight courier service or by hand at 111 Commerce Road,
Carlstadt, New Jersey 07072--Attention: Reorganization Department.

          If you have any questions or require further information, please call
the Information Agent, toll free, at (888) 349-2005.


                                    Very truly yours,


                                    AIMCO/BETHESDA HOLDINGS ACQUISITIONS, INC.