Exhibit (a)(3)









October 30, 2001



TO:          UNIT HOLDERS OF FJS PROPERTIES FUND I, L.P.

SUBJECT:     OFFER TO PURCHASE UNITS

Dear Unit Holder:

         As described in the enclosed Offer to Purchase and related Letters of
Transmittal (the "Offer"),MP VALUE FUND 7, LLC; MP VALUE FUND 4, LLC; MP DEWAAY
FUND, LLC; and PREVIOUSLY OWNED PARTNERSHIPS INCOME FUND, L.P. (collectively the
"Purchasers") are offering to purchase up to 2,500 Units of limited partnership
interest (the "Units") in FJS PROPERTIES FUND I, L.P., a Delaware limited
partnership (the "Partnership") at a purchase price equal to:

                                  $105 per Unit

 The Offer will provide you with an opportunity to liquidate all, or a portion
of, your investment in FJS PROPERTIES FUND I, L.P. without the usual transaction
costs associated with market sales or partnership transfer fees.

After carefully reading the enclosed Offer, if you elect to tender your Units,
mail (using the enclosed pre-addressed, postage paid envelope) or telecopy a
duly completed and executed copy of the Letter of Transmittal (printed on blue
paper) and Change of Address forms, and any other documents required by the
Letter of Transmittal, to the Depositary for the Offer at:

                           MacKenzie Patterson, Inc.,
                               1640 School Street
                            Moraga, California 94556
                            Telecopy: (925) 631-9119

         If you have any questions or need assistance, please call the
Depository at 800-854-8357.

               This Offer expires (unless extended) December 7, 2001.