-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 FWa5okfq49DhGCizmYhvgVSppyksHbhdyr7PXpIxCHBgtVSTfinKW4s6B2UxBWGb
 VN30SkghmK3+Nm9W8tSu9g==

<SEC-DOCUMENT>0001179110-10-003639.txt : 20100224
<SEC-HEADER>0001179110-10-003639.hdr.sgml : 20100224
<ACCEPTANCE-DATETIME>20100224162248
ACCESSION NUMBER:		0001179110-10-003639
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100223
FILED AS OF DATE:		20100224
DATE AS OF CHANGE:		20100224

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Prudhomme Kathleen L
		CENTRAL INDEX KEY:			0001311087

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-06404
		FILM NUMBER:		10630067

	MAIL ADDRESS:	
		STREET 1:		800 NICOLLET MALL
		STREET 2:		MAIL STOP BC-MN-H21C
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AMERICAN STRATEGIC INCOME PORTFOLIO INC
		CENTRAL INDEX KEY:			0000878930
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				411705401
		STATE OF INCORPORATION:			MN
		FISCAL YEAR END:			0831

	BUSINESS ADDRESS:	
		STREET 1:		800 NICOLLET AVE
		STREET 2:		BC-MN-H05O
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402
		BUSINESS PHONE:		6123033381

	MAIL ADDRESS:	
		STREET 1:		800 NICOLLET AVE
		STREET 2:		BC-MN-H05O
		CITY:			MINNEAPOLIS
		STATE:			MN
		ZIP:			55402
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2010-02-23</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000878930</issuerCik>
        <issuerName>AMERICAN STRATEGIC INCOME PORTFOLIO INC</issuerName>
        <issuerTradingSymbol>ASP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001311087</rptOwnerCik>
            <rptOwnerName>Prudhomme Kathleen L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>800 NICOLLET MALL</rptOwnerStreet1>
            <rptOwnerStreet2>MAIL STOP BC-MN-H21C</rptOwnerStreet2>
            <rptOwnerCity>MINNEAPOLIS</rptOwnerCity>
            <rptOwnerState>MN</rptOwnerState>
            <rptOwnerZipCode>55402</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Secretary to the Funds</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>AMERICAN STRATEGIC INCOME PORTFOLIO, INC</value>
            </securityTitle>
            <transactionDate>
                <value>2010-02-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1002</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>12.09</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes></footnotes>

    <ownerSignature>
        <signatureName>KATHLEEN PRUDHOMME</signatureName>
        <signatureDate>2010-02-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----