SECURITIES AND EXCHANGE COMMISSION
                                
                             Washington, D.C. 20549
                                
                                   FORM 8-K/A
                                
                                 CURRENT REPORT
                                
                                
                                
       Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
                                
       Date of Report (Date of earliest event reported) December 1, 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 other jurisdiction      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 4.  Changes in Registrant's Certifying Accountants

Effective December 1, 1997, the Registrant advised Coopers & Lybrand that it
was changing accounting firms and engaged KPMG Peat Marwick.

Coopers and Lybrand report on the financial statements for the years ended
December 31, 1995 and December 31, 1996 contained no adverse opinion or
disclaimer of opinion and was not qualified as to uncertainty, audit scope or
accounting principles.  There have been no disagreements with Coopers and
Lybrand on any matters of accounting principles or practices, financial
statement disclosure, or auditing scope procedure.

The Registrant has requested Coopers & Lybrand to provide a letter addressed to
the Commission stating whether it agrees with the information disclosed above.
Such letter will be filed subsequently by amendment pursuant to paragraph
(a)(3) of Item 304 in Regulation S-K.

The decision to change accountants was approved by ConAm Property Services,
Ltd. the General Partner of the Registrant.

Item 7.  Financial Statements and Exhibits
(c) Exhibit 16-1

December 15, 1997

Securities and Exchange Commission
450 50th Street, N.W.
Washington, D.C. 20549

Gentlemen:

We have read the statements by Hutton/ConAm Realty Investors 81, which we
understand will be filed with the Commission, pursuant to Item 4 of Form 8-K,
as part of the Partnership's Form 8-K report for the month of December 1997. We
agree with the statements concerning our Firm in such Form 8-K.

/s/Coopers & Lybrand L.L.P.
   Coopers & Lybrand L.L.P.



                           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.
                         General Partner of ConAm Realty
                         Investors 81 L.P.

                         BY:  CONTINENTAL AMERICAN DEVELOPMENT, INC.
                              General Partner


Date:  December 17, 1997           BY:  /s/Daniel J. Epstein
                                   Director, President, and Principal
                                   Executive Officer


Date:  December 17, 1997           BY:  /s/Robert J. Svatos
                                   Chief Financial Officer