SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                   Schedule TO

               Tender Offer Statement Pursuant to Section 14(d)(1)
                     of the Securities Exchange Act of 1934

                            (Name of Subject Company)

                    Capital Realty Investors Ltd Partnership

                   A District of Columbia limited partnership

                               at $75 Net Per Unit

                                       by

               Equity Resource Lexington Fund Limited Partnership,
                       a Massachusetts limited partnership

                          Equity Resources Group, Inc.
                               Eggert Dagbjartsson

                            Limited Partnership Units

                  Eggert Dagbjartsson, Executive Vice President
                          Equity Resources Group, Inc.
                                44 Brattle Street
                               Cambridge, MA 02138
                                 (617) 876-4800

                            Calculation of Filing Fee

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          Transaction Valuation*                        Amount of Filing Fee
                 $185,625                                      $37.13
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*        For purposes of calculating the filing fee only. This calculation
         assumes the purchase of 2,475 Units at a purchase price of $75 per Unit
         in the Partnership.

[_]      Check box if any part of the fee is offset as provided by Rule
         0-11(a)(2) and identify the filing with which the offsetting fee was
         previously paid. Identify the previous filing by registration statement
         number, or the Form or Schedule and the date of its filing.
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         Amount Previously Paid:    Not Applicable  Filing Party: Not Applicable
         Form of Registration No.:  Not Applicable  Date Filed:   Not Applicable

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================================================================================



                                  TENDER OFFER

         This Tender Offer Statement on Schedule TO (the "Schedule TO") relates
to an offer by Equity Resource Lexington Fund, Limited Partnership, a
Massachusetts limited partnership, Eggert Dagbjartsson, its general partner and
Equity Resources Group, Inc., its manager (collectively the "Purchaser") to
purchase 2,475 units (the "Units") of limited partnership interests in Capital
Realty Investors Ltd Partnership, a District of Columbia limited partnership
(the "Partnership"), at $75 for each Unit, net to the seller in cash, without
interest, less the $100 transfer fee charged by the general partner of the
Partnership (per transaction, not per unit) and less the amount of any
distributions declared or paid from any source by the Partnership with respect
to the Units after May 9, 2002 (without regard to the record date), upon the
terms and subject to the conditions set forth in the Offer to Purchase (the
"Offer to Purchase") and in the related Agreement of Sale, copies of which are
attached hereto as Exhibits (a)(l) and (a)(3) (which are herein collectively
referred to as the "Offer"). The information in the Offer to Purchase, including
all schedules and annexes thereto, is hereby expressly incorporated herein by
reference in response to all the items of this Statement, except as otherwise
set forth below.

Item 12.          Exhibits

            (a)(1)    Offer to Purchase, dated May 9, 2002
            (a)(2)    Transmittal letter, dated May 9, 2002
            (a)(3)    Agreement of Sale
            (a)(4)    Summary Advertisement
            (b)       Not applicable
            (c)       Not applicable
            (d)       Not applicable
            (e)       Not applicable
            (f)       Not applicable
            (g)       Not applicable
            (h)       Not applicable



                                    SIGNATURE

            After due inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

Dated:      May 9, 2002     Equity Resource Lexington Fund Limited Partnership,
                                  a Massachusetts limited partnership

                                  By:  /s/  Eggert Dagbjartsson
                                       -----------------------------------------
                                                Eggert Dagbjartsson
                                                General Partner

                                  Equity Resources Group, Inc.
                                  A Massachusetts Corporation

                                  By:  /s/  Eggert Dagbjartsson
                                       -----------------------------------------
                                                Eggert Dagbjartsson
                                                Executive Vice President

                                  Eggert Dagbjartsson

                                  By:  /s/  Eggert Dagbjartsson
                                       -----------------------------------------
                                               Eggert Dagbjartsson



                                  EXHIBIT INDEX


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                                                                Sequential
Exhibit No.                         Description                Page Number
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(a)(1) -         Offer to Purchase, dated May 9, 2002.             4-28
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(a)(2) -         Transmittal letter, dated May 9, 2002.             29
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(a)(3) -         Agreement of Sale                                30-33
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(a)(4)           Summary Advertisement                              34
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(b) -            Not applicable.
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(c) -            Not applicable.
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(d) -            Not applicable.
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(e) -            Not applicable.
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(f) -            Not applicable.
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(g)              Not applicable
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(h)              Not applicable.
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