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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000903112-99-000026.txt : 19990127
<SEC-HEADER>0000903112-99-000026.hdr.sgml : 19990127
ACCESSION NUMBER:		0000903112-99-000026
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	19990126
ITEM INFORMATION:		
FILED AS OF DATE:		19990126

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			REAL ESTATE ASSOCIATES LTD/CA
		CENTRAL INDEX KEY:			0000225789
		STANDARD INDUSTRIAL CLASSIFICATION:	OPERATORS OF NONRESIDENTIAL BUILDINGS [6512]
		IRS NUMBER:				953187912
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		
		SEC FILE NUMBER:	000-09262
		FILM NUMBER:		99512730

	BUSINESS ADDRESS:	
		STREET 1:		9090 WILSHIRE BLVD STE 201
		CITY:			BEVERLY HILLS
		STATE:			CA
		ZIP:			90211
		BUSINESS PHONE:		3102782191

	MAIL ADDRESS:	
		STREET 1:		9090 WILSHIRE BLVD
		STREET 2:		STE 201
		CITY:			BEVERLY HILLS
		STATE:			CA
		ZIP:			90211

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	REAL ESTATE ASSOCIATES LTD
		DATE OF NAME CHANGE:	19900828
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<DESCRIPTION>FORM 8-K
<TEXT>


                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


        Date of Report (Date of Earliest Event Reported) January 26, 1999


                         Real Estate Associates Limited
- --------------------------------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)


California                          000-09262                         95-3187912
- --------------------------------------------------------------------------------
(State or Other                   (Commission                   (I.R.S. Employer
Jurisdiction of                   File Number)                    Identification
incorporation)                                                              No.)


            9090 Wilshire Boulevard, Beverly Hills, California 90211
- --------------------------------------------------------------------------------
               (Address of Principal Executive Offices) (Zip Code)


       (Registrant's Telephone Number, Including Area Code) (310) 278-2191


- --------------------------------------------------------------------------------
         (Former Name or Former Address, If Changed Since Last Report.)


766770.3


<PAGE>


ITEM 5.           Other Events.

                  Real Estate Associates Limited, a California limited
partnership (the "Registrant"), is filing this Current Report on Form 8-K in
connection with the issuance of a press release on January 26, 1999 regarding
the completion of the sale of the Registrant's interests in certain real estate
properties.

ITEM 7.           Financial Statements, Pro Forma Financial Information and
                  Exhibits.

(c)  Exhibits.

Exhibit           Description
- ------            -----------
1                 Press Release, dated January 26, 1999.

766770.3
                                        2

<PAGE>


                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                             REAL ESTATE ASSOCIATES LIMITED,
                               a California Limited Partnership


                               By:     NATIONAL PARTNERSHIP INVESTMENT
                                       CORP., a California Corporation,
                                       a General Partner


                                       By: /s/ Henry C. Casden
                                          --------------------------------------
                                          Name:  Henry C. Casden
                                          Title: Senior Executive Vice President


Date:  January 26, 1999


766770.3
                                        3

<PAGE>


EXHIBIT INDEX                                  Exhibit 1
                                               ---------


766770.3
                                        4

<PAGE>


FOR IMMEDIATE RELEASE
- ---------------------


                         REAL ESTATE ASSOCIATES LIMITED
                              ANNOUNCES CLOSING OF
                               SALE OF PROPERTIES


Beverly Hills, California - January 26, 1999 - National Partnership Investments
Corp., the Managing General Partner of Real Estate Associates Limited I (the
"Partnership") announced today that the Partnership has completed the sale of
the Partnership's interests in eight real estate properties.

The Managing General Partner anticipates distributing the net proceeds of the
sale to Limited Partners on or about March 1, 1999.


Contact:          Patricia W. Toy
                  National Partnership Investments Corp.
                  800-666-6274

                  Ellen A. Gulczynski
                  MacKenzie Partners, Inc.
                  212-929-5500

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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