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) October 24, 1997
                                
                                
                 CONAM REALTY INVESTORS 81 L.P.
                        formerly known as
                HUTTON/CONAM REALTY INVESTORS 81
     (Exact name of registrant as specified in its charter)
                                


     California               0-10223               13-3069026
State or otherjurisdiction   Commission            IRS Employer
  of incorporation           File Number         Identification No.



1764 San Diego Avenue
San Diego, CA  92110 Attn.: Robert J. Svatos           92110-1906
Address of principal executive offices                  Zip Code



Registrant's telephone number, including area code (619) 297-6771

Item 5. Other Events

ConAm Property Services, Ltd. ("CPS") and RI 81 Real Estate
Services, Inc. ("RI 81") have served as co-general partners of
Hutton/ConAm Realty Investors 81 (the "Partnership") since its
inception.  On October 24, 1997, CPS acquired RI 81's co-general
partner interest in the Partnership pursuant to a Purchase
Agreement between CPS and RI 81 dated August 29, 1997.  As a
result, CPS will now serve as the sole general partner of the
Partnership.  In conjunction with this transaction, the name of
the Partnership has been changed from Hutton/ConAm Realty
Investors 81 to ConAm Realty Investors 81, L.P.  The purchase of
RI 81's interest by CPS will not affect the Partnership's
operations.

                           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.


                         CONAM PROPERTY SERVICES, LTD.

                         BY:  CONTINENTAL AMERICAN DEVELOPMENT,INC.
                              General Partner


Date:  October 31, 1997            BY:  /s/Daniel J. Epstein
                                   Director, President, and Principal
                                   Executive Officer


Date:  October 31, 1997            BY:  /s/Robert J. Svatos
                                   Chief Financial Officer