10-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

(Mark One)

x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (FEE REQUIRED)

For the fiscal year ended December 31, 2012

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED)

For the transition period from                      to                     

Commission file no. 0-16191

DEL TACO RESTAURANT PROPERTIES I

(A California limited partnership)

(Exact name of registrant as specified in its charter)

California	95-3852699
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification Number)

25521 Commercentre Drive Lake Forest, California	92630
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (949) 462-9300

Securities registered pursuant to section 12(b) of the Act: None

Securities registered pursuant to section 12(g) of the Act: None

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.    Yes  ¨    No  x

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act.    Yes  ¨    No  x

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  x    No  ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  x    No  ¨

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.  ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	x	Smaller reporting company	¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    Yes  ¨    No  x

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the registrant’s Form S-11 Registration Statement filed December 17, 1982 are incorporated by reference into Part IV of this report.

PART I

Item 1. Business

Del Taco Restaurant Properties I (the Partnership, us, we or our) is a publicly-held limited partnership organized under the California Uniform Limited Partnership Act. The Partnership’s General Partner is Del Taco LLC, a California limited liability company (Del Taco or the General Partner). The Partnership sold 8,751 units totaling $4.375 million through an offering of limited partnership units from March 1983 through March 1984. The term of the partnership agreement is until April 30, 2022, unless terminated earlier by means provided in the partnership agreement.

The business of the Partnership is ownership and leasing of restaurants in California to Del Taco. The Partnership acquired land and constructed six Mexican-American restaurants for long-term lease to Del Taco. Each property is leased for 35 years on a triple net basis. Rent is equal to twelve percent of gross sales of the restaurants. As of December 31, 2012, the Partnership had a total of six properties leased to Del Taco (Del Taco, in turn, has subleased one of the restaurants).

The Partnership has no full time employees. The Partnership agreement assigns full authority for general management and supervision of the business affairs of the Partnership to the General Partner. The General Partner has a one percent interest in the profits or losses and distributions of the Partnership. Limited partners have no right to participate in the day to day management or conduct of the Partnership’s business affairs.

Item 1A. Risk Factors

None.

Item 2. Properties

The Partnership acquired six properties with proceeds obtained from the sale of partnership units:

Address	City, State	Date of Acquisition	Restaurant Constructed	Date of Commencement of Operation (1)
Riverside Avenue	Rialto, CA	September 28, 1984	60 seat with drive through service window	February 12, 1985
Elden Avenue	Moreno Valley, CA	March 8, 1985	60 seat with drive through service window	June 30, 1985
Foothill Boulevard	La Verne, CA	April 16, 1985	60 seat with drive through service window	November 6, 1985
Baseline & Archibald	Rancho Cucamonga, CA	July 10, 1985	60 seat with drive through service window	November 26, 1985
Elkhorn Boulevard	Sacramento, CA	August 22, 1985	60 seat with drive through service window	January 15, 1986
Haven Avenue	Rancho Cucamonga, CA	September 20, 1985	60 seat with drive through service window	February 14, 1986

See also Schedule III – Real Estate and Accumulated Depreciation included in Item 8.

(1) Commencement of operation is the first date Del Taco, as lessee, operated the facility on the site as a Del Taco restaurant.

Item 3. Legal Proceedings

The Partnership is not a party to any material pending legal proceedings.

Item 4. Mine Safety Disclosures

Not applicable.

1

PART II

Item 5. Market for the Partnership’s Common Equity, Related Security Holder Matters and Issuer Purchases of Equity Securities

The Partnership sold 8,751 ($4,375,500) limited partnership units during the public offering period ended March 20, 1984 and currently has 634 limited partners of record. There is no public market for the trading of the units. Distributions made by the Partnership to the limited partners during the past three fiscal years are described in Note 6 to the Notes to the Financial Statements contained under Item 8.

Item 6. Selected Financial Data

The selected financial data presented as of and for the years ended December 31, 2012, 2011, 2010, 2009, and 2008, has been derived from the audited financial statements and should be read in conjunction with the financial statements and related notes and Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations.

	Years Ended December 31,
	2012		2011		2010		2009		2008
Rental revenues	$	737,724	$	733,960	$	749,936	$	740,556	$	746,097
General and administrative expense		76,329		96,321		69,561		73,711		71,643
Depreciation expense		28,948		28,948		28,948		28,948		28,948
Interest and other income		1,715		2,120		1,573		1,849		4,576
Net income		634,162		610,811		653,000		639,746		650,082
Net income per limited partnership unit		71.74		69.10		73.87		72.37		73.54
Cash distributions per limited partnership unit		72.98		74.73		76.83		75.40		68.35
Total assets		2,144,858		2,168,869		2,206,515		2,227,303		2,243,902
Long-term obligations		—		—		—		—		—

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Management’s discussion and analysis of financial condition, results of operations, liquidity and capital resources, and off balance sheet arrangements and contractual obligations contained within this report on Form 10-K is more clearly understood when read in conjunction with the notes to the financial statements. The notes to the financial statements elaborate on certain terms that are used throughout this discussion and provide information about the Partnership and the basis of presentation used in this report on Form

10-K.

The six restaurants leased to Del Taco make up all of the income producing assets of the Partnership. Therefore, the business of the Partnership is entirely dependent on the success of Del Taco as the operator of restaurants located at our properties. The success of the restaurants is dependent on a large variety of factors, including, but not limited to, consumer demand and preference for fast food, in general, and for Mexican-American food in particular.

Liquidity and Capital Resources

The Partnership offered limited partnership units for sale between March 1983 and March 1984. $4.375 million was raised through the sale of limited partnership units and used to acquire sites and build six restaurants and also to pay commissions to brokers and to reimburse the General Partner for offering costs incurred.

The Partnership’s only source of cash flow is rental income from the properties from the triple net leases. Such operating income has historically been and is expected to continue to be sufficient to fund the Partnership’s operating expenses. Net cash provided by operating activities in excess of the Partnership’s ongoing needs is distributed to the partners.

Off Balance Sheet Arrangements and Contractual Obligations

None.

2

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued)

Results of Operations

The Partnership owns six properties that are under long-term lease to Del Taco for restaurant operations. Del Taco, in turn, has subleased one of the restaurants to a Del Taco franchisee.

The following table sets forth rental revenues earned by restaurant by year:

	Years Ended December 31,
	2012		2011		2010
Riverside Avenue, Rialto, CA	$	119,789	$	116,551	$	120,347
Elden Avenue, Moreno Valley, CA		100,875		96,053		100,546
Foothill Boulevard, La Verne, CA		164,694		167,359		169,393
Baseline & Archibald, Rancho Cucamonga, CA		103,597		109,002		114,548
Elkhorn Boulevard, Sacramento, CA		111,606		107,392		107,682
Haven Avenue, Rancho Cucamonga, CA		137,163		137,603		137,420
Total	$	737,724	$	733,960	$	749,936

The Partnership earns rental revenues equal to 12 percent of gross sales from the restaurants. The Partnership earned rental revenues of $737,724 during the year ended December 31, 2012, which represents an increase of $3,764 from 2011. The changes in rental revenues between 2012 and 2011 are directly attributable to changes in sales levels at the restaurants under lease due to local competitive and industry factors.

The Partnership earned rental revenues of $733,960 during the year ended December 31, 2011, which represents a decrease of $15,976 from 2010. The changes in rental revenues between 2010 and 2011 are directly attributable to changes in sales levels at the restaurants under lease due to local competitive and industry factors.

The following table breaks down general and administrative expense by type of expense:

	Percentage of Total General and Administrative Expense
	Years Ended December 31,
	2012			2011			2010
Accounting fees		57.47	%		46.97	%		61.52	%
Distribution of information to limited partners		38.01			34.98			34.36
Other		4.52			18.05			4.12
		100.00	%		100.00	%		100.00	%

General and administrative costs decreased by $19,992 from 2011 to 2012. The decrease was caused primarily by decreased legal fees, which was partially offset by an increase in costs related to the mandatory filing process known as XBRL.

General and administrative costs increased by $26,760 from 2010 to 2011. The increase was caused primarily by legal fees related to communication from certain limited partners in regards to their desire (which was subsequently withdrawn in the fourth quarter of 2011) to sell all of the properties and then dissolve the Partnership, costs related to a new mandatory filing process known as XBRL, and increased costs for the distribution of information to limited partners.

Net income increased by $23,351 from 2011 to 2012 due to the increase in revenues of $3,764 and the $19,992 decrease in general and administrative expenses, partially offset by the decrease in other income of $405.

Net income decreased by $42,189 from 2010 to 2011 due to the decrease in revenues of $15,976 and the $26,760 increase in general and administrative expenses, partially offset by the increase in other income of $547.

Recent Accounting Pronouncements

None that applies to the Partnership.

3

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued)

Critical Accounting Policies and Estimates

Management’s discussion and analysis of financial condition and results of operations, as well as disclosures included elsewhere in this report on Form 10-K are based upon the Partnership’s financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires management to make estimates and judgments that affect the reported amounts of assets, liabilities, revenues and expenses. The Partnership believes the critical accounting policies that most impact the financial statements are described below. A summary of the significant accounting policies of the Partnership can be found in Note 1 to the Financial Statements which is included in Item 8 of this Form 10-K.

Revenue Recognition: Rental revenue is recognized based on 12 percent of gross sales of the restaurants for the corresponding period, and is earned at the point of sale.

Property and Equipment: Property and equipment is stated at cost. Depreciation is computed using the straight-line method over estimated useful lives which are 20 years for land improvements, 35 years for buildings and improvements, and 10 years for machinery and equipment.

The Partnership accounts for property and equipment in accordance with authoritative guidance issued by the Financial Accounting Standards Board that requires long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. In evaluating long-lived assets held for use, an impairment loss is recognized if the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying value of the asset. Once a determination has been made that an impairment loss should be recognized for long-lived assets, various assumptions and estimates are used to determine fair value including, among others, estimated costs of construction and development, recent sales of comparable properties and the opinions of fair value prepared by independent real estate appraisers. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.

Item 7A. Quantitative and Qualitative Disclosures About Market Risk

None.

4

Item 8. Financial Statements and Supplementary Data

PART I. INFORMATION

INDEX	PAGE NUMBER
Report of Independent Registered Public Accounting Firm – Squar, Milner, Peterson, Miranda & Williamson, LLP	6
Balance Sheets at December 31, 2012 and 2011	7
Statements of Income for the years ended December 31, 2012, 2011 and 2010	8
Statements of Partners’ Equity for the years ended December 31, 2012, 2011 and 2010	9
Statements of Cash Flows for the years ended December 31, 2012, 2011 and 2010	10
Notes to Financial Statements	11-14
Schedule III – Real Estate and Accumulated Depreciation	19

5

Report of Independent Registered Public Accounting Firm

To the Partners

Del Taco Restaurant Properties I:

We have audited the accompanying balance sheets of Del Taco Restaurant Properties I (a California Limited Partnership) as of December 31, 2012 and 2011 and the related statements of income, partners’ equity, and cash flows for each of the three years in the period ended December 31, 2012. Our audits also included the financial statement schedule of the Partnership listed in Item 15. These financial statements and financial statement schedule are the responsibility of the Partnership’s management. Our responsibility is to express an opinion on these financial statements and financial statement schedule based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform an audit of its internal control over financial reporting. Our audits included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Del Taco Restaurant Properties I as of December 31, 2012 and 2011 and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2012, in conformity with U.S. generally accepted accounting principles. Also, in our opinion, the related financial statement schedule, when considered in relation to the basic financial statements taken as a whole, presents fairly, in all material respects, the information set forth therein.

/s/ Squar, Milner, Peterson, Miranda & Williamson, LLP

Newport Beach, California

March 6, 2013

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DEL TACO RESTAURANT PROPERTIES I

BALANCE SHEETS

	December 31,
	2012		2011
ASSETS
CURRENT ASSETS:
Cash	$	225,448	$	219,919
Receivable from Del Taco LLC		61,353		61,946
Deposits		987		986
Total current assets		287,788		282,851
PROPERTY AND EQUIPMENT:
Land		1,633,188		1,633,188
Land improvements		296,497		296,497
Buildings and improvements		1,013,134		1,013,134
Machinery and equipment		1,136,026		1,136,026
		4,078,845		4,078,845
Less – accumulated depreciation		2,221,775		2,192,827
		1,857,070		1,886,018
	$	2,144,858	$	2,168,869
LIABILITIES AND PARTNERS’ EQUITY
CURRENT LIABILITIES:
Payable to limited partners	$	39,303	$	42,670
Accounts payable		13,460		23,124
Total current liabilities		52,763		65,794
PARTNERS’ EQUITY:
Limited partners; 8,751 units outstanding at December 31, 2012 and 2011		1,831,077		1,841,947
General partner-Del Taco LLC		261,018		261,128
		2,092,095		2,103,075
	$	2,144,858	$	2,168,869

See accompanying notes to financial statements.

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DEL TACO RESTAURANT PROPERTIES I

STATEMENTS OF INCOME

	Years Ended December 31,
	2012		2011		2010
RENTAL REVENUES	$	737,724	$	733,960	$	749,936
EXPENSES:
General and administrative		76,329		96,321		69,561
Depreciation		28,948		28,948		28,948
		105,277		125,269		98,509
Operating income		632,447		608,691		651,427
OTHER INCOME:
Interest		250		245		273
Other		1,465		1,875		1,300
Net income	$	634,162	$	610,811	$	653,000
Net income per limited partnership unit (Note 2)	$	71.74	$	69.10	$	73.87
Number of limited partnership units used in computing per unit amounts		8,751		8,751		8,751

See accompanying notes to financial statements.

8

DEL TACO RESTAURANT PROPERTIES I

STATEMENTS OF PARTNERS’ EQUITY

Years Ended December 31, 2012, 2011, and 2010

	Limited Partners					General Partner			Total
	Units		Amount
Balance, December 31, 2009		8,751	$	1,917,028		$	261,886		$	2,178,914
Net Income		—		646,470			6,530			653,000
Cash Distributions		—		(672,267	)		(6,790	)		(679,057	)
Balance, December 31, 2010		8,751		1,891,231			261,626			2,152,857
Net Income		—		604,703			6,108			610,811
Cash Distributions		—		(653,987	)		(6,606	)		(660,593	)
Balance, December 31, 2011		8,751		1,841,947			261,128			2,103,075
Net Income		—		627,821			6,341			634,162
Cash Distributions		—		(638,691	)		(6,451	)		(645,142	)
Balance, December 31, 2012		8,751	$	1,831,077		$	261,018		$	2,092,095

See accompanying notes to financial statements.

9

DEL TACO RESTAURANT PROPERTIES I

STATEMENTS OF CASH FLOWS

	Years Ended December 31,
	2012			2011			2010
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	634,162		$	610,811		$	653,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		28,948			28,948			28,948
Changes in operating assets and liabilities:
Receivable from Del Taco LLC		593			2,935			(1,329	)
Deposits		(1	)		380			(64	)
Payable to limited partners		(3,367	)		(1,698	)		4,442
Accounts payable		(9,664	)		13,834			827
Net cash provided by operating activities		650,671			655,210			685,824
CASH FLOWS FROM FINANCING ACTIVITIES -
Cash distributions to partners		(645,142	)		(660,593	)		(679,057	)
Net change in cash		5,529			(5,383	)		6,767
Beginning cash balance		219,919			225,302			218,535
Ending cash balance	$	225,448		$	219,919		$	225,302

See accompanying notes to financial statements.

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DEL TACO RESTAURANT PROPERTIES I

NOTES TO FINANCIAL STATEMENTS

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Partnership: Del Taco Restaurant Properties I, a California limited partnership, (the Partnership) was formed on November 30, 1982, for the purpose of acquiring real property in California for construction of six Mexican-American restaurants to be leased under long-term agreements to Del Taco LLC (General Partner or Del Taco), for operation under the Del Taco trade name. The term of the partnership agreement is until April 30, 2022 unless terminated earlier by means provided in the partnership agreement.

The Partnership has no full time employees (see Note 4). The Partnership agreement assigns full authority for general management and supervision of the business affairs of the Partnership to the General Partner. The General Partner has a one percent interest in the profits or losses and distributions of the Partnership. Limited partners have no right to participate in the day to day management or conduct of the Partnership’s business affairs.

Distributions are made to the general and limited partners in accordance with the provisions of the Partnership agreement (see Note 2).

Basis of Accounting: The Partnership utilizes the accrual method of accounting for transactions relating to the business of the Partnership. The summary of significant accounting policies presented below is designed to assist in understanding the Partnership’s financial statements. Such financial statements and accompanying notes are the representations of the Partnership’s management, who is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects, and have been consistently applied in preparing the accompanying financial statements.

Property and Equipment: Property and equipment is stated at cost. Depreciation is computed using the straight-line method over estimated useful lives which are 20 years for land improvements, 35 years for buildings and improvements, and 10 years for machinery and equipment.

The Partnership accounts for property and equipment in accordance with authoritative guidance issued by the Financial Accounting Standards Board that requires long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. In evaluating long-lived assets held for use, an impairment loss is recognized if the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying value of the asset. Once a determination has been made that an impairment loss should be recognized for long-lived assets, various assumptions and estimates are used to determine fair value including, among others, estimated costs of construction and development, recent sales of comparable properties and the opinions of fair value prepared by independent real estate appraisers. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.

Income Taxes: No provision has been made for federal or state income taxes on partnership net income, since the Partnership is not subject to income tax. Partnership income is includable in the taxable income of the individual partners as required under applicable income tax laws. Certain items, primarily related to depreciation methods, are accounted for differently for income tax reporting purposes (see Note 5).

Net Income Per Limited Partnership Unit: Net income per limited partnership unit is based on net income attributable to the limited partners (after 1% allocation to the general partner) using the weighted average number of units outstanding during the periods presented, which amounted to 8,751 units for all years presented.

Use of Estimates: The preparation of the financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Revenue Recognition: Rental revenue is recognized based on 12 percent of gross sales of the restaurants for the corresponding period, and is earned at the point of sale.

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DEL TACO RESTAURANT PROPERTIES I

NOTES TO FINANCIAL STATEMENTS – CONTINUED

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

Concentration of Risk: The six restaurants leased to Del Taco make up all of the income producing assets of the Partnership and contributed all of the Partnership’s rental revenues for the three years ended December 31, 2012. Therefore, the business of the Partnership is entirely dependent on the success of the Del Taco trade name restaurants that lease the properties.

The Partnership maintains substantially all of its cash and cash equivalents at one major commercial bank. Although the Partnership at times maintains balances that exceed the federally insured limit, it has not experienced any losses related to these balances and management believes the credit risk to be minimal.

Fair Value of Financial Instruments: The fair values of cash, accounts receivables, deposits, accounts payable and payables to limited partners approximate the carrying amounts due to their short maturities.

Subsequent Events: Management has evaluated events subsequent to December 31, 2012 through the date the accompanying financial statements were filed with the Securities and Exchange Commission for transactions and other events that may require adjustment of and/or disclosure in such financial statements.

NOTE 2 – PARTNERS’ EQUITY

Pursuant to the partnership agreement, annual partnership net income is allocated one percent to Del Taco and 99 percent to the limited partners. A partnership net loss in any year will be allocated 24 percent to the General Partner and 76 percent to the limited partners until the losses so allocated equal income previously allocated. Any additional losses will be allocated one percent to the General Partner and 99 percent to the limited partners. Partnership gains from any sale or refinancing will be allocated one percent to the General Partner and 99 percent to the limited partners until allocated gains and profits equal losses. Additional gains will be allocated 24 percent to the General Partner and 76 percent to the limited partners.

NOTE 3 – LEASING ACTIVITIES

The Partnership leases certain properties for operation of restaurants to Del Taco on a triple net basis. The leases are for terms of 35 years commencing with the completion of the restaurant facility located on each property and require monthly rentals equal to 12 percent of the gross sales of the restaurants. The leases expire in the years 2020 to 2021. Pursuant to the lease agreements, minimum rentals of $3,500 per month are due to the Partnership during the first six months of any non-operating period caused by an insured casualty loss. The Partnership had a total of six properties leased as of December 31, 2012, 2011 and 2010, one of which has been subleased to a Del Taco franchisee for each of the three years ended December 31, 2012.

The five restaurants operated by Del Taco, for which the Partnership is the lessor, had combined, unaudited sales of $5,284,393, $5,207,992 and $5,294,904 and unaudited net losses of $22,807, $17,429 and $48,766 for the years ended December 31, 2012, 2011 and 2010, respectively. Del Taco net income by restaurant includes charges for general and administrative expenses incurred in connection with supervision of restaurant operations and interest expense and the increase in net loss from the corresponding period of the prior year primarily relates to increased operating expenses. The one restaurant operated by a Del Taco franchisee, for which the Partnership is the lessor, had unaudited sales of $863,302, $908,346 and $954,561 for the years ended December 31, 2012, 2011 and 2010, respectively.

NOTE 4 – RELATED PARTIES

The receivable from Del Taco consists of rent accrued for the months of December 2012 and 2011. The rent receivable was collected in January 2013 and 2012, respectively.

The General Partner received $6,451, $6,606 and $6,790 in distributions relating to its one percent interest in the Partnership for the years ended December 31, 2012, 2011 and 2010, respectively.

Del Taco serves in the capacity of General Partner in other partnerships which are engaged in the business of operating restaurants, and three other partnerships which were formed for the purpose of acquiring real property in California for construction of Mexican-American restaurants for lease under long-term agreements to Del Taco.

The General Partner provides certain minimal managerial and accounting services to the Partnership at no cost.

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DEL TACO RESTAURANT PROPERTIES I

NOTES TO FINANCIAL STATEMENTS – CONTINUED

NOTE 5 – INCOME TAXES (UNAUDITED)

The Partnership is not subject to income taxes because its income is taxed directly to the General Partner and limited partners. The reconciling items presented in the table below are the only items that create a difference between the tax basis and reported amounts of the Partnership’s assets and liabilities.

A reconciliation of financial statement net income to taxable income for each of the periods is as follows:

	2012		2011		2010
Net income per financial statements	$	634,162	$	610,811	$	653,000
Excess book depreciation		17,328		17,328		17,328
Taxable income	$	651,490	$	628,139	$	670,328

A reconciliation of partnership equity per the financial statements to partners’ equity for tax purposes as of December 31, 2012, is as follows (unaudited):

Partners’ equity per financial statements	$	2,092,095
Issue costs of limited partnership units capitalized for tax purposes		637,325
Difference in book vs. tax depreciation		45,061
Other		235
Partners’ equity for tax purposes	$	2,774,716

NOTE 6 – CASH DISTRIBUTIONS TO LIMITED PARTNERS

Cash distributions paid to limited partners for the three years ended December 31, 2012 were as follows:

Quarter Ended	Cash Distribution per Limited Partnership Unit		Weighted Average Number of Units Outstanding		Number of Units Outstanding at the End of Quarter
December 31, 2009	$	19.64		8,751		8,751
March 31, 2010		16.47		8,751		8,751
June 30, 2010		19.50		8,751		8,751
September 30, 2010		21.22		8,751		8,751
Total paid in 2010	$	76.83
December 31, 2010	$	19.90		8,751		8,751
March 31, 2011		17.69		8,751		8,751
June 30, 2011		18.06		8,751		8,751
September 30, 2011		19.08		8,751		8,751
Total paid in 2011	$	74.73
December 31, 2011	$	17.45		8,751		8,751
March 31, 2012		17.12		8,751		8,751
June 30, 2012		19.22		8,751		8,751
September 30, 2012		19.19		8,751		8,751
Total paid in 2012	$	72.98

Cash distributions per limited partnership unit were calculated based upon the weighted average number of units outstanding for each quarter and were paid from operations. Distributions declared in January 2013 for the quarter ended December 31, 2012 amounted to $19.70 per limited partnership unit and were paid in February 2013.

13

DEL TACO RESTAURANT PROPERTIES I

NOTES TO FINANCIAL STATEMENTS – CONTINUED

NOTE 7 – RESULTS BY QUARTER (UNAUDITED)

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Year ended December 31, 2012
Rental revenues	$	179,443	$	184,786	$	188,947	$	184,548
Net income		134,641		163,795		172,060		163,666
Net income per limited partnership unit		15.23		18.53		19.47		18.51
Year ended December 31, 2011
Rental revenues	$	182,124	$	184,013	$	185,760	$	182,063
Net income		137,271		164,789		163,485		145,266
Net income per limited partnership unit		15.53		18.64		18.50		16.43

NOTE 8 – PAYABLE TO LIMITED PARTNERS

Payable to limited partners represents a reclassification from cash for distribution checks made to limited partners that have remained outstanding for six months or longer. The decrease in payable to limited partners from December 31, 2011 to December 31, 2012 is primarily due to an increase in distribution checks that were deposited by limited partners.

14

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures

None

Item 9A. Controls and Procedures

Disclosure controls and procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our reports under the Securities Exchange Act of 1934 (Exchange Act) is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure. In designing and evaluating our disclosure controls and procedures, our management recognized that any system of controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, as ours are designed to do, and management necessarily was required to apply its judgment in evaluating the cost–benefit relationship of possible controls and procedures.

In connection with the preparation of this Annual Report on Form 10-K, an evaluation was performed under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act). Based on that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective as of the end of the period covered by this Annual Report on Form 10-K to ensure that the information required to be disclosed by us in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, and to ensure that the information required to be disclosed by us in reports that we file or submit under the Exchange Act is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosures.

Internal control over financial reporting

(a) Management’s Report on Internal Control over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over financial reporting as defined in Rule 13a-15(f) under the Exchange Act. Our internal control system is designed to provide reasonable assurance to our management regarding the preparation and fair presentation of published financial statements. All internal control systems, no matter how well designed, have inherent limitations. Therefore, even those systems determined to be effective can provide only reasonable assurance with respect to the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles.

Management has assessed the effectiveness of our internal control over financial reporting as of December 31, 2012. In making its assessment of internal control over financial reporting, management used the criteria set forth in Internal Control – Integrated Framework issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

Management has concluded that, as of December 31, 2012, our internal control over financial reporting was effective based on these criteria.

This annual report does not include an attestation report of the Partnership’s registered public accounting firm regarding the effectiveness of internal control over financial reporting. Pursuant to temporary rules of the Securities and Exchange Commission, such attestation report is not required to be included in this filing; the Partnership is only required to provide management’s report in this annual report.

(b) Changes in internal controls:

There were no significant changes in the Partnership’s internal controls over financial reporting that occurred during our most recent fiscal quarter that materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

Item 9B. Other Information

None.

15

PART III

Item 10. Directors, Executive Officers, and Corporate Governance

(a) & (b) Del Taco serves as the Partnership’s sole General Partner. Individuals who perform the functions of directors and officers of the Partnership consist of the following officers of Del Taco:

Name	Title	Age
Paul J.B. Murphy, III	Chief Executive Officer	58
Steven L. Brake	Chief Financial Officer	40
John Cappasola	Chief Brand Officer	39
David Pear	Senior Vice President, Operations	49

Del Taco’s term as General Partner will continue indefinitely, subject to the right of a majority in interest of the limited partners to remove and replace it. The above referenced officers of the General Partner will hold office until their resignation or the election or appointment of their successor.

(c) None

(d) No family relationship exists between any such officer of the General Partner.

(e) The following is an account of the business experience during the past five years of each such officer:

Paul J. B. Murphy, III, Chief Executive Officer of Del Taco LLC. Mr. Murphy has served as Chief Executive Officer since February 2009. He previously served as President and Chief Executive Officer of Einstein Noah Restaurant Group, Inc. (formerly, New World Restaurant Group, Inc.) from October 2003 to December 2008.

Steven L. Brake, Executive Vice President, Chief Financial Officer of Del Taco LLC. Mr. Brake has served as Chief Financial Officer since April 2010 and previously served as Treasurer from March 2006 to April 2010 and as the Corporate Controller of Del Taco LLC from September 2003 to March of 2006. From December 1995 until September 2003 Mr. Brake spent seven years with Arthur Andersen and one year with KPMG LLP in their respective audit departments. Mr. Brake was a licensed certified public accountant and holds a Bachelor of Arts degree in Economics from the University of California, Irvine and an MBA from the Paul Merage School of Business at the University of California, Irvine.

John Cappasola, Executive Vice President, Chief Brand Officer of Del Taco LLC. Mr. Cappasola has served as our Chief Brand Officer since February 2011. He previously served as our Vice President of Marketing from March 2009 to February 2011. From September 2008 to March 2009, he served as our Vice President of Marketing Development. From August 2002 to September 2008, he held various positions in marketing, strategic development and operations at Blockbuster, Inc. of Dallas, Texas.

David Pear, Senior Vice President, Operations of Del Taco LLC. Mr. Pear has served as Senior Vice President of Operations since January 2012. From January 2009 to January 2012 Mr. Pear served as a Director of DMA Operations for Taco Bell (Yum Brands). From 1985 to January 2009, Mr. Pear served in a wide variety of operation positions with increasing level of responsibility for Domino’s Pizza, Inc.

Code of Ethics

The Partnership has no executive officers or any fulltime employees and, accordingly, has not adopted a code of ethics.

16

Item 11. Executive Compensation

The Partnership has no executive officers or directors and pays no direct remuneration to any executive officer or director of its General Partner. The Partnership has not issued any options or stock appreciation rights to any executive officer or director of its General Partner, nor does the Partnership propose to pay any annuity, pension or retirement benefits to any executive officer or director of its General Partner. The Partnership has no plan, nor does the Partnership presently propose a plan, which will result in any remuneration being paid to any executive officer or director of the General Partner upon termination of employment.

Item 12. Security Ownership of Certain Beneficial Owners and Management

(a) No person of record currently owns more than five percent of limited partnership units of the Partnership, nor was any person known of by the Partnership to own of record and beneficially, or beneficially only, more than five percent of such securities.

(b) Neither Del Taco LLC, nor any executive officer or director of Del Taco LLC, owns any limited partnership units of the Partnership.

(c) The Partnership knows of no contractual arrangements, the operation or the terms of which may at a subsequent date result in a change in control of the Partnership, except for provisions in the Partnership agreement providing for removal of the General Partner by holders of a majority of the limited partnership units and if a material event of default occurs under the financing agreements of the General Partner.

Item 13. Certain Relationships, Related Transactions, and Director Independence

(a) Other than listed below, no transactions have occurred between the Partnership and any executive officer or director of its General Partner.

During 2012, the following transactions occurred between the Partnership and the General Partner pursuant to the terms of the partnership agreement.

(1) The General Partner earned $6,341 as its one percent share of the net income of the Partnership.

(2) The General Partner received $6,451 in distributions relating to its one percent interest in the Partnership.

(b) During 2012, the Partnership had no business relationships with any entity of a type required to be reported under this item.

(c) Neither the General Partner, any director or officer of the General Partner, or any associate of any such person, was indebted to the Partnership at any time during 2012 for any amount.

(d) Not applicable.

Item 14. Principal Accountant Fees and Services

The following table presents fees for professional services rendered by Squar, Milner, Peterson, Miranda & Williamson, LLP (Squar Milner).

	2012		2011
Audit Fees	$	17,065	$	17,055
Audit-Related Fees		—		—
Tax Fees		—		—
All Other Fees		—		—
Total	$	17,065	$	17,055

The General Partner approves all the audit and non-audit services and related fees provided to the Partnership by the independent auditors prior to the services being rendered.

17

PART IV

Item 15. Exhibits and Financial Statement Schedules

(a)(1) Financial Statements

Included in Part II of this report:

Report of Independent Registered Public Accounting Firm – Squar, Milner, Peterson, Miranda & Williamson, LLP

Balance Sheets

Statements of Income

Statements of Partners’ Equity

Statements of Cash Flows

Notes to Financial Statements

(a)(2) Financial Statement Schedule

Schedule III – Real Estate and Accumulated Depreciation

Financial statement schedules other than those referred to above have been omitted because they are not applicable or not required.

(b) Reports on Form 8-K

None

(c) Exhibits required by Item 601 of Regulation S-K:

1.	Incorporated herein by reference, Restated Certificate and Agreement of Limited Partnership of Del Taco Restaurant Properties I filed as Exhibit 3.01 to Partnership’s Registration Statement on Form S-11 as filed with the Securities and Exchange Commission on December 17, 1982.
2.	Incorporated herein by reference, Amendment to Restated Certificate and Agreement of Limited Partnership of Del Taco Restaurant Properties I.
3.	Incorporated herein by reference, Form of Standard Lease to be entered into by partnership and Del Taco LLC, as lessee, filed as Exhibit 10.02 to Partnership’s Registration Statement on Form S-11 as filed with the Securities and Exchange Commission on December 17, 1982.
31.1	Paul J.B. Murphy, III’s Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2	Steven L. Brake’s Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1	Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

101.INS	XBRL Instance Document*
101.SCH	XBRL Taxonomy Extension Schema Document*
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document*
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document*
101.LAB	XBRL Taxonomy Extension Label Linkbase Document*
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document*

* Pursuant to Rule 406T of Regulation S-T, the Interactive Data Files on Exhibit 101 hereto are deemed not filed or part of a registration statement or prospectus for purposes of Section 11 or 12 of the Securities Act of 1933, as amended, are deemed not filed for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, and otherwise are not subject to liability under these sections.

18

DEL TACO RESTAURANT PROPERTIES I

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION

DECEMBER 31, 2012

			Initial cost to company				Cost capitalized subsequent to acquisition		Gross amount at which carried at close of period						Life on which
Description (All Restaurants)	Encumbrances		Land & land improvements		Building & Improvements		Carrying costs		Land, buildings & improvements Total		Accumulated depreciation		Date of construction	Date acquired	depreciation in latest income statement is computed
Rialto, CA	$	—	$	274,837	$	150,310	$	—	$	425,147	$	161,085	1984	1984	20 (LI), 35 (BI)
Moreno Valley, CA		—		353,557		193,362		—		546,919		207,221	1985	1985	20 (LI), 35 (BI)
La Verne, CA		—		452,423		247,433		—		699,856		265,166	1985	1985	20 (LI), 35 (BI)
Rancho Cucamonga, CA		—		293,817		160,690		77,203		531,710		172,201	1985	1985	20 (LI), 35 (BI)
Sacramento, CA		—		260,516		142,478		—		402,994		152,692	1985	1985	20 (LI), 35 (BI)
Rancho Cucamonga, CA		—		217,332		118,861		—		336,193		127,384	1985	1985	20 (LI), 35 (BI)
	$	—	$	1,852,482	$	1,013,134	$	77,203	$	2,942,819	$	1,085,749

	Restaurants		Accumulated Depreciation
Balances at December 31, 2009	$	2,942,819	$	998,905
Additions		—		28,948
Retirements		—		—
Balances at December 31, 2010		2,942,819		1,027,853
Additions		—		28,948
Retirements		—		—
Balances at December 31, 2011		2,942,819		1,056,801
Additions		—		28,948
Retirements		—		—
Balances at December 31, 2012	$	2,942,819	$	1,085,749

The aggregate cost basis of Del Taco Restaurant Properties I real estate assets for Federal income tax purposes was $2,942,819 at December 31, 2012.

See accompanying report of independent registered public accounting firm.

19

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Partnership has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		DEL TACO RESTAURANT PROPERTIES I
		a California limited partnership
		Del Taco LLC
		General Partner
Date	March 6, 2013	/s/ Paul J.B. Murphy, III
		Paul J.B. Murphy, III
		Chief Executive Officer
Date	March 6, 2013	/s/ Steven L. Brake
		Steven L. Brake
		Chief Financial Officer
Date	March 6, 2013	/s/ John Cappasola
		John Cappasola
		Chief Brand Officer

20

EX-31.1

Exhibit 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO SECURITIES ACT

RULES 13A-14 AND 15D-14 AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Paul J.B. Murphy III, certify that:

1. I have reviewed this annual (“report”) on Form 10-K of Del Taco Restaurant Properties I;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a – 15(e) and 15d – 15(e) and internal control over financial reporting (as defined in Exchange Act Rules 13a – 15(f) and 15d – 15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	March 6, 2013	/s/ Paul J.B. Murphy, III
		Paul J.B. Murphy, III
		Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER PURSUANT TO SECURITIES

ACT RULES 13A-14 AND 15D-14 AS ADOPTED PURSUANT TO

SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

I, Steven L. Brake, certify that:

1. I have reviewed this annual (“report”) on Form 10-K of Del Taco Restaurant Properties I;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officers and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a – 15(e) and 15d – 15(e) and internal control over financial reporting (as defined in Exchange Act Rules 13a – 15(f) and 15d – 15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent function)

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	March 6, 2013	/s/ Steven L. Brake
		Steven L. Brake
		Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

(SUBSECTIONS (a) AND (b) OF SECTION 1350, CHAPTER 63 OF TITLE 18,

UNITED STATES CODE)

In connection with the Annual Report of Del Taco Restaurant Properties I (the “Partnership”) on Form 10-K for the year ended December 31, 2012 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), each of the undersigned officers of the Partnership, certify, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the partnership.

Date:	March 6, 2013	/s/ Paul J.B. Murphy, III
		Paul J.B. Murphy, III
		Chief Executive Officer
Date:	March 6, 2013	/s/ Steven L. Brake
		Steven L. Brake
		Chief Financial Officer

A signed original of this written statement required by Section 906 has been provided to the Partnership and will be retained by the Partnership and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Income Taxes - Reconciliation of Partnership Equity Per Financial Statements to Partners' Equity for Tax Purposes (Detail) (USD $)	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Reconciliation Of Gaap Net Income Loss To Taxable Income Loss [Line Items]
Partners' equity per financial statements	$ 2,092,095	$ 2,103,075	$ 2,152,857	$ 2,178,914
Issue costs of limited partnership units capitalized for tax purposes	637,325
Difference in book vs. tax depreciation	45,061
Other	235
Partners' equity for tax purposes	$ 2,774,716

XML

Leasing Activities

12 Months Ended

Dec. 31, 2012

Leasing Activities

NOTE 3 – LEASING ACTIVITIES

The Partnership leases certain properties for operation of restaurants to Del Taco on a triple net basis. The leases are for terms of 35 years commencing with the completion of the restaurant facility located on each property and require monthly rentals equal to 12 percent of the gross sales of the restaurants. The leases expire in the years 2020 to 2021. Pursuant to the lease agreements, minimum rentals of $3,500 per month are due to the Partnership during the first six months of any non-operating period caused by an insured casualty loss. The Partnership had a total of six properties leased as of December 31, 2012, 2011 and 2010, one of which has been subleased to a Del Taco franchisee for each of the three years ended December 31, 2012.

The five restaurants operated by Del Taco, for which the Partnership is the lessor, had combined, unaudited sales of $5,284,393, $5,207,992 and $5,294,904 and unaudited net losses of $22,807, $17,429 and $48,766 for the years ended December 31, 2012, 2011 and 2010, respectively. Del Taco net income by restaurant includes charges for general and administrative expenses incurred in connection with supervision of restaurant operations and interest expense and the increase in net loss from the corresponding period of the prior year primarily relates to increased operating expenses. The one restaurant operated by a Del Taco franchisee, for which the Partnership is the lessor, had unaudited sales of $863,302, $908,346 and $954,561 for the years ended December 31, 2012, 2011 and 2010, respectively.

XML

Payable to Limited Partners - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2012
Distribution Made to Member or Limited Partner [Line Items]
Period of payable outstanding to limited partners	Six months or longer

XML

Results by Quarter - Summary of Results by Quarter (Detail) (USD $)	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
RENTAL REVENUES	$ 184,548	$ 188,947	$ 184,786	$ 179,443	$ 182,063	$ 185,760	$ 184,013	$ 182,124	$ 737,724	$ 733,960	$ 749,936
Net income	$ 163,666	$ 172,060	$ 163,795	$ 134,641	$ 145,266	$ 163,485	$ 164,789	$ 137,271	$ 634,162	$ 610,811	$ 653,000
Net income per limited partnership unit	18.51	19.47	18.53	15.23	16.43	18.50	18.64	15.53	71.74	69.10	73.87

XML

Schedule III - Real Estate and Accumulated Depreciation (Detail) (USD $)	12 Months Ended
	Dec. 31, 2012
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost to company, Land & Land improvements	1,852,482
Initial cost to company, Building & Improvements	1,013,134
Cost capitalized subsequent to acquisition, Carrying costs	77,203
Gross amount at which carried at close of period, Land, buildings & improvements Total	2,942,819
Accumulated depreciation	1,085,749
Rialto, CA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost to company, Land & Land improvements	274,837
Initial cost to company, Building & Improvements	150,310
Cost capitalized subsequent to acquisition, Carrying costs
Gross amount at which carried at close of period, Land, buildings & improvements Total	425,147
Accumulated depreciation	161,085
Date of construction	1984
Date acquired	1984
Moreno Valley, CA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost to company, Land & Land improvements	353,557
Initial cost to company, Building & Improvements	193,362
Cost capitalized subsequent to acquisition, Carrying costs
Gross amount at which carried at close of period, Land, buildings & improvements Total	546,919
Accumulated depreciation	207,221
Date of construction	1985
Date acquired	1985
La Verne, CA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost to company, Land & Land improvements	452,423
Initial cost to company, Building & Improvements	247,433
Cost capitalized subsequent to acquisition, Carrying costs
Gross amount at which carried at close of period, Land, buildings & improvements Total	699,856
Accumulated depreciation	265,166
Date of construction	1985
Date acquired	1985
Rancho Cucamonga, CA [Member] | Restaurant I [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost to company, Land & Land improvements	293,817
Initial cost to company, Building & Improvements	160,690
Cost capitalized subsequent to acquisition, Carrying costs	77,203
Gross amount at which carried at close of period, Land, buildings & improvements Total	531,710
Accumulated depreciation	172,201
Date of construction	1985
Date acquired	1985
Rancho Cucamonga, CA [Member] | Restaurant II [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost to company, Land & Land improvements	217,332
Initial cost to company, Building & Improvements	118,861
Cost capitalized subsequent to acquisition, Carrying costs
Gross amount at which carried at close of period, Land, buildings & improvements Total	336,193
Accumulated depreciation	127,384
Date of construction	1985
Date acquired	1985
Sacramento, CA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial cost to company, Land & Land improvements	260,516
Initial cost to company, Building & Improvements	142,478
Cost capitalized subsequent to acquisition, Carrying costs
Gross amount at which carried at close of period, Land, buildings & improvements Total	402,994
Accumulated depreciation	$ 152,692
Date of construction	1985
Date acquired	1985
Land improvements [Member] | Rialto, CA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	20 years
Land improvements [Member] | Moreno Valley, CA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	20 years
Land improvements [Member] | La Verne, CA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	20 years
Land improvements [Member] | Rancho Cucamonga, CA [Member] | Restaurant I [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	20 years
Land improvements [Member] | Rancho Cucamonga, CA [Member] | Restaurant II [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	20 years
Land improvements [Member] | Sacramento, CA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	20 years
Buildings and improvements [Member] | Rialto, CA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	35 years
Buildings and improvements [Member] | Moreno Valley, CA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	35 years
Buildings and improvements [Member] | La Verne, CA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	35 years
Buildings and improvements [Member] | Rancho Cucamonga, CA [Member] | Restaurant I [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	35 years
Buildings and improvements [Member] | Rancho Cucamonga, CA [Member] | Restaurant II [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	35 years
Buildings and improvements [Member] | Sacramento, CA [Member]
Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	35 years

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Schedule III - Real Estate and Accumulated Depreciation II (Detail) (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Real Estate and Accumulated Depreciation [Line Items]
Restaurants, Beginning Balance	$ 2,942,819	$ 2,942,819	$ 2,942,819
Restaurants, Additions
Restaurants, Retirements
Restaurants, Ending Balance	2,942,819	2,942,819	2,942,819
Accumulated Depreciation, Beginning Balance	1,056,801	1,027,853	998,905
Accumulated Depreciation, Additions	28,948	28,948	28,948
Accumulated Depreciation, Retirements
Accumulated Depreciation, Ending Balance	$ 1,085,749	$ 1,056,801	$ 1,027,853

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Partners' Equity

12 Months Ended

Dec. 31, 2012

Partners' Equity

NOTE 2 – PARTNERS’ EQUITY

Pursuant to the partnership agreement, annual partnership net income is allocated one percent to Del Taco and 99 percent to the limited partners. A partnership net loss in any year will be allocated 24 percent to the General Partner and 76 percent to the limited partners until the losses so allocated equal income previously allocated. Any additional losses will be allocated one percent to the General Partner and 99 percent to the limited partners. Partnership gains from any sale or refinancing will be allocated one percent to the General Partner and 99 percent to the limited partners until allocated gains and profits equal losses. Additional gains will be allocated 24 percent to the General Partner and 76 percent to the limited partners.

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Schedule III - Real Estate and Accumulated Depreciation - Additional Information (Detail) (USD $)	Dec. 31, 2012
Real Estate and Accumulated Depreciation [Line Items]
Aggregate cost of real estate assets for Federal tax purposes	$ 2,942,819

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BALANCE SHEETS (USD $)	Dec. 31, 2012	Dec. 31, 2011
CURRENT ASSETS:
Cash	$ 225,448	$ 219,919
Receivable from Del Taco LLC	61,353	61,946
Deposits	987	986
Total current assets	287,788	282,851
PROPERTY AND EQUIPMENT:
Land	1,633,188	1,633,188
Land improvements	296,497	296,497
Buildings and improvements	1,013,134	1,013,134
Machinery and equipment	1,136,026	1,136,026
Property, Plant and Equipment, Gross	4,078,845	4,078,845
Less-accumulated depreciation	2,221,775	2,192,827
Property, Plant and Equipment, net	1,857,070	1,886,018
Total assets	2,144,858	2,168,869
CURRENT LIABILITIES:
Payable to limited partners	39,303	42,670
Accounts payable	13,460	23,124
Total current liabilities	52,763	65,794
PARTNERS' EQUITY:
Limited partners; 8,751 units outstanding at December 31, 2012 and 2011	1,831,077	1,841,947
General partner-Del Taco LLC	261,018	261,128
Total partners' Capital	2,092,095	2,103,075
Total liabilities and partners' equity	$ 2,144,858	$ 2,168,869

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STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 634,162	$ 610,811	$ 653,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	28,948	28,948	28,948
Changes in operating assets and liabilities:
Receivable from Del Taco LLC	593	2,935	(1,329)
Deposits	(1)	380	(64)
Payable to limited partners	(3,367)	(1,698)	4,442
Accounts payable	(9,664)	13,834	827
Net cash provided by operating activities	650,671	655,210	685,824
CASH FLOWS FROM FINANCING ACTIVITIES :
Cash distributions to partners	(645,142)	(660,593)	(679,057)
Net change in cash	5,529	(5,383)	6,767
Beginning cash balance	219,919	225,302	218,535
Ending cash balance	$ 225,448	$ 219,919	$ 225,302

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Leasing Activities - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2012 Property Restaurants	Dec. 31, 2011 Property	Dec. 31, 2010 Property
Operating Leased Assets [Line Items]
Number of Lease years	35 years
Percentage of gross sales of the restaurants	12.00%
Leases expiration date	2020 to 2021
Minimum rentals due per month to Partnership	$ 3,500
Number of properties leased	6	6	6
Number of properties subleased to Del Taco franchisee	1	1	1
Number of restaurants operated	5
Combined Unaudited Sales	5,284,393	5,207,992	5,294,904
Combined unaudited net loss	(22,807)	(17,429)	(48,766)
Del Taco franchisee [Member]
Operating Leased Assets [Line Items]
Number of restaurants operated	1
Combined Unaudited Sales	$ 863,302	$ 908,346	$ 954,561

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Income Taxes - Reconciliation of Financial Statement Net Income to Taxable Income (Detail) (USD $)	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Reconciliation Of Gaap Net Income Loss To Taxable Income Loss [Line Items]
Net income per financial statements	$ 163,666	$ 172,060	$ 163,795	$ 134,641	$ 145,266	$ 163,485	$ 164,789	$ 137,271	$ 634,162	$ 610,811	$ 653,000
Excess book depreciation									17,328	17,328	17,328
Taxable income									$ 651,490	$ 628,139	$ 670,328

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Organization and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2012

Organization and Summary of Significant Accounting Policies

NOTE 1 – ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Partnership: Del Taco Restaurant Properties I, a California limited partnership, (the Partnership) was formed on November 30, 1982, for the purpose of acquiring real property in California for construction of six Mexican-American restaurants to be leased under long-term agreements to Del Taco LLC (General Partner or Del Taco), for operation under the Del Taco trade name. The term of the partnership agreement is until April 30, 2022 unless terminated earlier by means provided in the partnership agreement.

The Partnership has no full time employees (see Note 4). The Partnership agreement assigns full authority for general management and supervision of the business affairs of the Partnership to the General Partner. The General Partner has a one percent interest in the profits or losses and distributions of the Partnership. Limited partners have no right to participate in the day to day management or conduct of the Partnership’s business affairs.

Distributions are made to the general and limited partners in accordance with the provisions of the Partnership agreement (see Note 2).

Basis of Accounting: The Partnership utilizes the accrual method of accounting for transactions relating to the business of the Partnership. The summary of significant accounting policies presented below is designed to assist in understanding the Partnership’s financial statements. Such financial statements and accompanying notes are the representations of the Partnership’s management, who is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects, and have been consistently applied in preparing the accompanying financial statements.

Property and Equipment: Property and equipment is stated at cost. Depreciation is computed using the straight-line method over estimated useful lives which are 20 years for land improvements, 35 years for buildings and improvements, and 10 years for machinery and equipment.

The Partnership accounts for property and equipment in accordance with authoritative guidance issued by the Financial Accounting Standards Board that requires long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. In evaluating long-lived assets held for use, an impairment loss is recognized if the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying value of the asset. Once a determination has been made that an impairment loss should be recognized for long-lived assets, various assumptions and estimates are used to determine fair value including, among others, estimated costs of construction and development, recent sales of comparable properties and the opinions of fair value prepared by independent real estate appraisers. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.

Income Taxes: No provision has been made for federal or state income taxes on partnership net income, since the Partnership is not subject to income tax. Partnership income is includable in the taxable income of the individual partners as required under applicable income tax laws. Certain items, primarily related to depreciation methods, are accounted for differently for income tax reporting purposes (see Note 5).

Net Income Per Limited Partnership Unit: Net income per limited partnership unit is based on net income attributable to the limited partners (after 1% allocation to the general partner) using the weighted average number of units outstanding during the periods presented, which amounted to 8,751 units for all years presented.

Use of Estimates: The preparation of the financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Revenue Recognition: Rental revenue is recognized based on 12 percent of gross sales of the restaurants for the corresponding period, and is earned at the point of sale.

Concentration of Risk: The six restaurants leased to Del Taco make up all of the income producing assets of the Partnership and contributed all of the Partnership’s rental revenues for the three years ended December 31, 2012. Therefore, the business of the Partnership is entirely dependent on the success of the Del Taco trade name restaurants that lease the properties.

The Partnership maintains substantially all of its cash and cash equivalents at one major commercial bank. Although the Partnership at times maintains balances that exceed the federally insured limit, it has not experienced any losses related to these balances and management believes the credit risk to be minimal.

Fair Value of Financial Instruments: The fair values of cash, accounts receivables, deposits, accounts payable and payables to limited partners approximate the carrying amounts due to their short maturities.

Subsequent Events: Management has evaluated events subsequent to December 31, 2012 through the date the accompanying financial statements were filed with the Securities and Exchange Commission for transactions and other events that may require adjustment of and/or disclosure in such financial statements.

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BALANCE SHEETS (Parenthetical)	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2009
Limited partners, units outstanding	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751

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Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Reconciliation of Financial Statement Net Income to Taxable Income

A reconciliation of financial statement net income to taxable income for each of the periods is as follows:

	2012		2011		2010
Net income per financial statements	$	634,162	$	610,811	$	653,000
Excess book depreciation		17,328		17,328		17,328
Taxable income	$	651,490	$	628,139	$	670,328

Reconciliation of Partnership Equity Per Financial Statements to Partners' Equity for Tax Purposes

A reconciliation of partnership equity per the financial statements to partners’ equity for tax purposes as of December 31, 2012, is as follows (unaudited):

Partners’ equity per financial statements	$	2,092,095
Issue costs of limited partnership units capitalized for tax purposes		637,325
Difference in book vs. tax depreciation		45,061
Other		235
Partners’ equity for tax purposes	$	2,774,716

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Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2012
Entity Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	FY
Trading Symbol	DTRPI
Entity Registrant Name	DEL TACO RESTAURANT PROPERTIES I
Entity Central Index Key	0000711213
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding	0
Entity Public Float	$ 0

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Cash Distributions to Limited Partners (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Cash Distributions Paid to Limited Partners

Cash distributions paid to limited partners for the three years ended December 31, 2012 were as follows:

Quarter Ended	Cash Distribution per Limited Partnership Unit		Weighted Average Number of Units Outstanding		Number of Units Outstanding at the End of Quarter
December 31, 2009	$	19.64		8,751		8,751
March 31, 2010		16.47		8,751		8,751
June 30, 2010		19.50		8,751		8,751
September 30, 2010		21.22		8,751		8,751
Total paid in 2010	$	76.83
December 31, 2010	$	19.90		8,751		8,751
March 31, 2011		17.69		8,751		8,751
June 30, 2011		18.06		8,751		8,751
September 30, 2011		19.08		8,751		8,751
Total paid in 2011	$	74.73
December 31, 2011	$	17.45		8,751		8,751
March 31, 2012		17.12		8,751		8,751
June 30, 2012		19.22		8,751		8,751
September 30, 2012		19.19		8,751		8,751
Total paid in 2012	$	72.98

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STATEMENTS OF INCOME (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
RENTAL REVENUES	$ 737,724	$ 733,960	$ 749,936
EXPENSES:
General and administrative	76,329	96,321	69,561
Depreciation	28,948	28,948	28,948
Total expenses	105,277	125,269	98,509
Operating income	632,447	608,691	651,427
OTHER INCOME:
Interest	250	245	273
Other	1,465	1,875	1,300
Net income	$ 634,162	$ 610,811	$ 653,000
Net income per limited partnership unit (Note 2)	71.74	69.10	73.87
Number of limited partnership units used in computing per unit amounts	8,751	8,751	8,751

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Cash Distributions to Limited Partners

12 Months Ended

Dec. 31, 2012

Cash Distributions to Limited Partners

NOTE 6 – CASH DISTRIBUTIONS TO LIMITED PARTNERS

Cash distributions paid to limited partners for the three years ended December 31, 2012 were as follows:

Quarter Ended	Cash Distribution per Limited Partnership Unit		Weighted Average Number of Units Outstanding		Number of Units Outstanding at the End of Quarter
December 31, 2009	$	19.64		8,751		8,751
March 31, 2010		16.47		8,751		8,751
June 30, 2010		19.50		8,751		8,751
September 30, 2010		21.22		8,751		8,751
Total paid in 2010	$	76.83
December 31, 2010	$	19.90		8,751		8,751
March 31, 2011		17.69		8,751		8,751
June 30, 2011		18.06		8,751		8,751
September 30, 2011		19.08		8,751		8,751
Total paid in 2011	$	74.73
December 31, 2011	$	17.45		8,751		8,751
March 31, 2012		17.12		8,751		8,751
June 30, 2012		19.22		8,751		8,751
September 30, 2012		19.19		8,751		8,751
Total paid in 2012	$	72.98

Cash distributions per limited partnership unit were calculated based upon the weighted average number of units outstanding for each quarter and were paid from operations. Distributions declared in January 2013 for the quarter ended December 31, 2012 amounted to $19.70 per limited partnership unit and were paid in February 2013.

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Income Taxes

12 Months Ended

Dec. 31, 2012

Income Taxes

NOTE 5 – INCOME TAXES (UNAUDITED)

The Partnership is not subject to income taxes because its income is taxed directly to the General Partner and limited partners. The reconciling items presented in the table below are the only items that create a difference between the tax basis and reported amounts of the Partnership’s assets and liabilities.

A reconciliation of financial statement net income to taxable income for each of the periods is as follows:

	2012		2011		2010
Net income per financial statements	$	634,162	$	610,811	$	653,000
Excess book depreciation		17,328		17,328		17,328
Taxable income	$	651,490	$	628,139	$	670,328

A reconciliation of partnership equity per the financial statements to partners’ equity for tax purposes as of December 31, 2012, is as follows (unaudited):

Partners’ equity per financial statements	$	2,092,095
Issue costs of limited partnership units capitalized for tax purposes		637,325
Difference in book vs. tax depreciation		45,061
Other		235
Partners’ equity for tax purposes	$	2,774,716

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Related Parties - Additional Information (Detail) (USD $)	12 Months Ended
	Dec. 31, 2012 PartnershipUnit	Dec. 31, 2011	Dec. 31, 2010
Related Party Transaction [Line Items]
Cash Distributions	$ 645,142	$ 660,593	$ 679,057
Number of other partnerships formed for acquisition	3
General Partner [Member]
Related Party Transaction [Line Items]
Cash Distributions	$ 6,451	$ 6,606	$ 6,790
General partner, partnership interest percentage	1.00%	1.00%	1.00%

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Results by Quarter (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Results by Quarter

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Year ended December 31, 2012
Rental revenues	$	179,443	$	184,786	$	188,947	$	184,548
Net income		134,641		163,795		172,060		163,666
Net income per limited partnership unit		15.23		18.53		19.47		18.51
Year ended December 31, 2011
Rental revenues	$	182,124	$	184,013	$	185,760	$	182,063
Net income		137,271		164,789		163,485		145,266
Net income per limited partnership unit		15.53		18.64		18.50		16.43

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Schedule III - Real Estate and Accumulated Depreciation

12 Months Ended

Dec. 31, 2012

Schedule III - Real Estate and Accumulated Depreciation

SCHEDULE III – REAL ESTATE AND ACCUMULATED DEPRECIATION

DECEMBER 31, 2012

			Initial cost to company				Cost capitalized subsequent to acquisition		Gross amount at which carried at close of period						Life on which
Description (All Restaurants)	Encumbrances		Land & land improvements		Building & Improvements		Carrying costs		Land, buildings & improvements Total		Accumulated depreciation		Date of construction	Date acquired	depreciation in latest income statement is computed
Rialto, CA	$	—	$	274,837	$	150,310	$	—	$	425,147	$	161,085	1984	1984	20 (LI), 35 (BI)
Moreno Valley, CA		—		353,557		193,362		—		546,919		207,221	1985	1985	20 (LI), 35 (BI)
La Verne, CA		—		452,423		247,433		—		699,856		265,166	1985	1985	20 (LI), 35 (BI)
Rancho Cucamonga, CA		—		293,817		160,690		77,203		531,710		172,201	1985	1985	20 (LI), 35 (BI)
Sacramento, CA		—		260,516		142,478		—		402,994		152,692	1985	1985	20 (LI), 35 (BI)
Rancho Cucamonga, CA		—		217,332		118,861		—		336,193		127,384	1985	1985	20 (LI), 35 (BI)
	$	—	$	1,852,482	$	1,013,134	$	77,203	$	2,942,819	$	1,085,749

	Restaurants		Accumulated Depreciation
Balances at December 31, 2009	$	2,942,819	$	998,905
Additions		—		28,948
Retirements		—		—
Balances at December 31, 2010		2,942,819		1,027,853
Additions		—		28,948
Retirements		—		—
Balances at December 31, 2011		2,942,819		1,056,801
Additions		—		28,948
Retirements		—		—
Balances at December 31, 2012	$	2,942,819	$	1,085,749

The aggregate cost basis of Del Taco Restaurant Properties I real estate assets for Federal income tax purposes was $2,942,819 at December 31, 2012.

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Results by Quarter

12 Months Ended

Dec. 31, 2012

Results by Quarter

NOTE 7 – RESULTS BY QUARTER (UNAUDITED)

	First Quarter		Second Quarter		Third Quarter		Fourth Quarter
Year ended December 31, 2012
Rental revenues	$	179,443	$	184,786	$	188,947	$	184,548
Net income		134,641		163,795		172,060		163,666
Net income per limited partnership unit		15.23		18.53		19.47		18.51
Year ended December 31, 2011
Rental revenues	$	182,124	$	184,013	$	185,760	$	182,063
Net income		137,271		164,789		163,485		145,266
Net income per limited partnership unit		15.53		18.64		18.50		16.43

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Payable to Limited Partners

12 Months Ended

Dec. 31, 2012

Payable to Limited Partners

NOTE 8 – PAYABLE TO LIMITED PARTNERS

Payable to limited partners represents a reclassification from cash for distribution checks made to limited partners that have remained outstanding for six months or longer. The decrease in payable to limited partners from December 31, 2011 to December 31, 2012 is primarily due to an increase in distribution checks that were deposited by limited partners.

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Organization and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2012

The Partnership

The Partnership: Del Taco Restaurant Properties I, a California limited partnership, (the Partnership) was formed on November 30, 1982, for the purpose of acquiring real property in California for construction of six Mexican-American restaurants to be leased under long-term agreements to Del Taco LLC (General Partner or Del Taco), for operation under the Del Taco trade name. The term of the partnership agreement is until April 30, 2022 unless terminated earlier by means provided in the partnership agreement.

The Partnership has no full time employees (see Note 4). The Partnership agreement assigns full authority for general management and supervision of the business affairs of the Partnership to the General Partner. The General Partner has a one percent interest in the profits or losses and distributions of the Partnership. Limited partners have no right to participate in the day to day management or conduct of the Partnership’s business affairs.

Distributions are made to the general and limited partners in accordance with the provisions of the Partnership agreement (see Note 2).

Basis of Accounting

Basis of Accounting: The Partnership utilizes the accrual method of accounting for transactions relating to the business of the Partnership. The summary of significant accounting policies presented below is designed to assist in understanding the Partnership’s financial statements. Such financial statements and accompanying notes are the representations of the Partnership’s management, who is responsible for their integrity and objectivity. These accounting policies conform to accounting principles generally accepted in the United States of America (“GAAP”) in all material respects, and have been consistently applied in preparing the accompanying financial statements.

Property and Equipment

Property and Equipment: Property and equipment is stated at cost. Depreciation is computed using the straight-line method over estimated useful lives which are 20 years for land improvements, 35 years for buildings and improvements, and 10 years for machinery and equipment.

The Partnership accounts for property and equipment in accordance with authoritative guidance issued by the Financial Accounting Standards Board that requires long-lived assets be reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of the asset may not be recoverable. In evaluating long-lived assets held for use, an impairment loss is recognized if the sum of the expected future cash flows (undiscounted and without interest charges) is less than the carrying value of the asset. Once a determination has been made that an impairment loss should be recognized for long-lived assets, various assumptions and estimates are used to determine fair value including, among others, estimated costs of construction and development, recent sales of comparable properties and the opinions of fair value prepared by independent real estate appraisers. Long-lived assets to be disposed of are reported at the lower of carrying amount or fair value less cost to sell.

Income Taxes

Income Taxes: No provision has been made for federal or state income taxes on partnership net income, since the Partnership is not subject to income tax. Partnership income is includable in the taxable income of the individual partners as required under applicable income tax laws. Certain items, primarily related to depreciation methods, are accounted for differently for income tax reporting purposes (see Note 5).

Net Income Per Limited Partnership Unit

Net Income Per Limited Partnership Unit: Net income per limited partnership unit is based on net income attributable to the limited partners (after 1% allocation to the general partner) using the weighted average number of units outstanding during the periods presented, which amounted to 8,751 units for all years presented.

Use of Estimates

Use of Estimates: The preparation of the financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

Revenue Recognition

Revenue Recognition: Rental revenue is recognized based on 12 percent of gross sales of the restaurants for the corresponding period, and is earned at the point of sale.

Concentration of Risk

Concentration of Risk: The six restaurants leased to Del Taco make up all of the income producing assets of the Partnership and contributed all of the Partnership’s rental revenues for the three years ended December 31, 2012. Therefore, the business of the Partnership is entirely dependent on the success of the Del Taco trade name restaurants that lease the properties.

The Partnership maintains substantially all of its cash and cash equivalents at one major commercial bank. Although the Partnership at times maintains balances that exceed the federally insured limit, it has not experienced any losses related to these balances and management believes the credit risk to be minimal.

Fair Value of Financial Instruments

Fair Value of Financial Instruments: The fair values of cash, accounts receivables, deposits, accounts payable and payables to limited partners approximate the carrying amounts due to their short maturities.

Subsequent Events

Subsequent Events: Management has evaluated events subsequent to December 31, 2012 through the date the accompanying financial statements were filed with the Securities and Exchange Commission for transactions and other events that may require adjustment of and/or disclosure in such financial statements.

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Partners' Equity - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2012
Partners Capital And Distributions [Line Items]
Percentage of net income attributable General Partner	1.00%
Percentage of net income attributable limited partners	99.00%
Percentage of net loss attributable general partner	24.00%
Percentage of net loss attributable limited partners	76.00%
Additional losses allocated to general partner percentage	1.00%
Additional losses allocated to limited partners percentage	99.00%
Percentage of gain on sale and refinancing allocated to general partner	1.00%
Percentage of gain on sale and refinancing allocated to limited partners	99.00%
Percentage of additional gain on sale and refinancing allocated to general partner	24.00%
Percentage of additional gain on sale and refinancing allocated to limited partners	76.00%

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Cash Distributions to Limited Partners - Summary of Cash Distributions Paid to Limited Partners (Detail) (USD $)	3 Months Ended												12 Months Ended
	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2009	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Distribution Made to Member or Limited Partner [Line Items]
Cash Distribution per Limited Partnership Unit	$ 19.19	$ 19.22	$ 17.12	$ 17.45	$ 19.08	$ 18.06	$ 17.69	$ 19.90	$ 21.22	$ 19.50	$ 16.47	$ 19.64	$ 72.98	$ 74.73	$ 76.83
Weighted Average Number of Units Outstanding	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751
Number of Units Outstanding at the End of Quarter	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751

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STATEMENTS OF PARTNERS' EQUITY (USD $)	Total	Limited Partners [Member]	General Partner [Member]
Beginning Balance at Dec. 31, 2009	$ 2,178,914	$ 1,917,028	$ 261,886
Beginning Balance, Shares at Dec. 31, 2009		8,751
Net income	653,000	646,470	6,530
Cash Distributions	(679,057)	(672,267)	(6,790)
Ending Balance at Dec. 31, 2010	2,152,857	1,891,231	261,626
Ending Balance, Shares at Dec. 31, 2010		8,751
Net income	610,811	604,703	6,108
Cash Distributions	(660,593)	(653,987)	(6,606)
Ending Balance at Dec. 31, 2011	2,103,075	1,841,947	261,128
Ending Balance, Shares at Dec. 31, 2011		8,751
Net income	634,162	627,821	6,341
Cash Distributions	(645,142)	(638,691)	(6,451)
Ending Balance at Dec. 31, 2012	$ 2,092,095	$ 1,831,077	$ 261,018
Ending Balance, Shares at Dec. 31, 2012		8,751

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Related Parties

12 Months Ended

Dec. 31, 2012

Related Parties

NOTE 4 – RELATED PARTIES

The receivable from Del Taco consists of rent accrued for the months of December 2012 and 2011. The rent receivable was collected in January 2013 and 2012, respectively.

The General Partner received $6,451, $6,606 and $6,790 in distributions relating to its one percent interest in the Partnership for the years ended December 31, 2012, 2011 and 2010, respectively.

Del Taco serves in the capacity of General Partner in other partnerships which are engaged in the business of operating restaurants, and three other partnerships which were formed for the purpose of acquiring real property in California for construction of Mexican-American restaurants for lease under long-term agreements to Del Taco.

The General Partner provides certain minimal managerial and accounting services to the Partnership at no cost.

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Cash Distributions to Limited Partners - Additional Information (Detail) (USD $)	3 Months Ended
	Dec. 31, 2012
Distribution Made to Member or Limited Partner [Line Items]
Distributions to the limited partner, per unit amount declared	$ 19.70
Distribution to limited partner, declaration date	Jan. 31, 2013
Distribution to limited partner, distribution date	Feb. 28, 2013

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Organization and Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended												12 Months Ended
	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011 Property	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2010 Property	Sep. 30, 2010	Jun. 30, 2010	Mar. 31, 2010	Dec. 31, 2009	Dec. 31, 2012 Restaurants Property Bank	Dec. 31, 2011 Property	Dec. 31, 2010 Property
Organization And Significant Accounting Policies [Line Items]
Date of formation													Nov. 30, 1982
Number of restaurants commencing operation on acquired properties													6
General partner interest in partnership													1.00%
Number of units used in computing per unit amounts	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751	8,751
Percentage of net income allocated to general partner													1.00%
Rental revenue percentage													12.00%
Number of properties leased				6				6					6	6	6
Number of major commercial banks													1
Land improvements [Member]
Organization And Significant Accounting Policies [Line Items]
Estimated useful lives property and equipment													20 years
Buildings and improvements [Member]
Organization And Significant Accounting Policies [Line Items]
Estimated useful lives property and equipment													35 years
Machinery and equipment [Member]
Organization And Significant Accounting Policies [Line Items]
Estimated useful lives property and equipment													10 years