Rule 424(b)(2)
                                       Registration No. 333-29485

             PRICING SUPPLEMENT DATED APRIL 8, 1999

              HEALTH CARE PROPERTY INVESTORS, INC.
                  Medium-Term Notes, Series C

This  Pricing  Supplement accompanies and supplements the  Prospectus,
dated  June  27,  1997, as supplemented by the Prospectus  Supplement,
dated July 21, 1997.

The Notes have the following terms (as applicable):

Principal Amount:                  $10,000,000.00
Agent's Discount or Commission:    1.25%
Net Proceeds to Issuer:            $9,875,000
Original Issue Price:              100%
Original Issue Date:               April 19, 1999
Stated Maturity Date:              April 19, 2004
Interest Rate Per Annum:           7.00 %
Redemption Date(s):                None
Redemption Price(s):               Not Applicable
Notice of Redemption:              Not Applicable
Optional Repayment Date:           None
Optional Repayment Price:          Not Applicable
Notice of Optional Repayment:      Not Applicable
Original Issue Discount:           [ ] Yes                [X] No
Form:                              [X] Book-Entry/Global  [ ] Definitive
Agent:                             [X] Merrill Lynch & Co.
                                   [ ] Goldman, Sachs & Co.
                                   [ ] NationsBanc Capital Markets, Inc.
                                   [ ] _______________________

Agent acting in the capacity as indicated below:

          [ ]  Agent               [X]  Principal

If as Principal:

          [ ]  The Notes are being offered at varying prices
       related  to  prevailing market prices at  the  time  of
       resale.

          [X]   The  Notes  are being offered  at  a  fixed
       initial  public  offering price of  100%  of  Principal
       Amount.

If as Agent:

          The  Notes  are  being  offered at a fixed  initial  public
offering price of 100% of Principal Amount.

Stated Interest:

          Based on the expected issue price of the Notes, the Company
does  not anticipate that the Notes will be issued with original issue
discount.   Holders  of  Notes  will be  required  to  include  stated
interest in gross income in accordance with their method of accounting
for  tax  purposes.  Each purchaser of Notes is encouraged to  consult
his or her tax advisor with respect to the tax consequences to him  or
her  of the acquisition, ownership and disposition of the Notes.   See
"Material  Federal  Income  Tax Considerations"  in  the  accompanying
Prospectus Supplement.