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          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P></TD></TR>
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          <P STYLE="font: 13pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM 8-K</B></P>
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P></TD></TR>
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      <TD COLSPAN="5" STYLE="font: 11pt Courier New, Courier, Monospace; padding-right: 5.75pt; text-align: center"><FONT STYLE="font: 11pt Times New Roman, Times, Serif"><B>CURRENT REPORT</B></FONT></TD></TR>
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          <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 OR 15(d) of the Securities
          Exchange Act of 1934</B></P>
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P></TD></TR>
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      <TD COLSPAN="3" STYLE="font: 10pt Courier New, Courier, Monospace; padding-right: 5.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Date of Report (Date of earliest event reported):</FONT></TD>
      <TD COLSPAN="2" STYLE="font: 10pt Courier New, Courier, Monospace; padding-right: 5.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">January 23, 2015</FONT></TD></TR>
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      <TD COLSPAN="5" STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.75pt">
          <P STYLE="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
          <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DSI Realty Income Fund VII</B></P></TD></TR>
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      <TD COLSPAN="5" STYLE="font: 10pt Courier New, Courier, Monospace; padding-right: 5.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Exact name of registrant as specified in its charter)</FONT></TD></TR>
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      <TD COLSPAN="2" STYLE="border-bottom: windowtext 1pt solid; font: 10pt Courier New, Courier, Monospace; padding-right: 5.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">California</FONT></TD>
      <TD COLSPAN="2" STYLE="border-bottom: windowtext 1pt solid; font: 10pt Courier New, Courier, Monospace; padding-right: 5.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">2-83291</FONT></TD>
      <TD STYLE="border-bottom: windowtext 1pt solid; font: 10pt Courier New, Courier, Monospace; padding-right: 5.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">95-3871044</FONT></TD></TR>
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      <TD COLSPAN="2" STYLE="font: 10pt Courier New, Courier, Monospace; padding-top: 3pt; padding-bottom: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(State or other jurisdiction </FONT><BR>
  <FONT STYLE="font-family: Times New Roman, Times, Serif">of incorporation)</FONT></TD>
      <TD COLSPAN="2" STYLE="font: 10pt Courier New, Courier, Monospace; padding-top: 3pt; padding-bottom: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Commission</FONT><BR>
  <FONT STYLE="font-family: Times New Roman, Times, Serif">File Number)</FONT></TD>
      <TD STYLE="font: 10pt Courier New, Courier, Monospace; padding-top: 3pt; padding-bottom: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(I.R.S. Employer</FONT><BR>
  <FONT STYLE="font-family: Times New Roman, Times, Serif">Identification No.)</FONT></TD></TR>
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      <TD COLSPAN="4" STYLE="border-bottom: windowtext 1pt solid; font: 10pt Palatino Linotype, Palatino, Times, Serif; padding-right: 5.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6700 E. Pacific Coast Hwy,&nbsp;&nbsp;Long Beach,&nbsp;&nbsp;California</FONT></TD>
      <TD STYLE="border-bottom: windowtext 1pt solid; font: 10pt Palatino Linotype, Palatino, Times, Serif; padding-right: 5.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90803</FONT></TD></TR>
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      <TD COLSPAN="4" STYLE="font: 10pt Courier New, Courier, Monospace; padding-right: 5.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Address of principal executive offices)</FONT></TD>
      <TD STYLE="font: 10pt Courier New, Courier, Monospace; padding-right: 5.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Zip Code)</FONT></TD></TR>
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      <TD COLSPAN="5" STYLE="font: 10pt Courier New, Courier, Monospace; padding-right: 5.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Registrant&rsquo;s telephone number, including area code&nbsp;&nbsp;&nbsp;&nbsp;(562) 493-8881</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD COLSPAN="5" STYLE="border-bottom: windowtext 1pt solid; font: 10pt Courier New, Courier, Monospace; padding-right: 5.75pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">Not Applicable</FONT></TD></TR>
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      <TD COLSPAN="5" STYLE="font: 10pt Courier New, Courier, Monospace; padding-right: 5.75pt; padding-bottom: 3pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">(Former name or former address, if changed since last report.)</FONT></TD></TR>
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      <TD COLSPAN="5" STYLE="font: 10pt Courier New, Courier, Monospace; padding-top: 2pt; padding-bottom: 2pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</FONT></TD></TR>
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      <TD STYLE="font: 10pt Palatino Linotype, Palatino, Times, Serif; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp; </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD COLSPAN="4" STYLE="font: 10pt Palatino Linotype, Palatino, Times, Serif; padding-top: 1pt; padding-bottom: 1pt; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></TD></TR>
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      <TD STYLE="font: 10pt Palatino Linotype, Palatino, Times, Serif; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp; </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD COLSPAN="4" STYLE="font: 10pt Palatino Linotype, Palatino, Times, Serif; padding-top: 1pt; padding-bottom: 1pt; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
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      <TD STYLE="font: 10pt Palatino Linotype, Palatino, Times, Serif; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp; </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD COLSPAN="4" STYLE="font: 10pt Palatino Linotype, Palatino, Times, Serif; padding-top: 1pt; padding-bottom: 1pt; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
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      <TD STYLE="font: 10pt Palatino Linotype, Palatino, Times, Serif; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0.25in; text-indent: -0.25in"><FONT STYLE="font-family: Wingdings">&#168;</FONT><FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp; </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
      <TD COLSPAN="4" STYLE="font: 10pt Palatino Linotype, Palatino, Times, Serif; padding-top: 1pt; padding-bottom: 1pt; text-indent: 0in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></TD></TR>
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      <TD STYLE="width: 2%">&nbsp;</TD>
      <TD STYLE="width: 28%">&nbsp;</TD>
      <TD STYLE="width: 6%">&nbsp;</TD>
      <TD STYLE="width: 30%">&nbsp;</TD>
      <TD STYLE="width: 34%">&nbsp;</TD></TR>
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  <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 1pt 0 3pt"><B>&nbsp;</B></P>
  
  
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  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 2.01 &#9;Completion of Acquisition or Disposition of Assets.
  </B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Item 5.07 &#9;Submission of Matters to a Vote of Security Holders.
  &#9;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Palatino Linotype, Palatino, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
  January 23, all of the properties and assets of DSI Realty Income Fund VII (the &ldquo;Fund&rdquo;) were sold to affiliates of
  Smart Stop Self Storage for an aggregate gross sale price of $16,840,000</FONT> <FONT STYLE="font-family: Times New Roman, Times, Serif">(the
  &ldquo;Sale&rdquo;). The Sale was approved by the affirmative vote of the holders of approximately 55.6% of the outstanding units
  of limited partnership interests in the Fund (the &ldquo;Units&rdquo;) in accordance with the proxy statement of the Fund dated
  November 21, 2014 (the &ldquo;Proxy Statement&rdquo;).</FONT></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Also approved under the Proxy Statement were
  the following:</P>
  
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          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>Proposal</U></B></P></TD>
      <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>Action Approved</U></B></P></TD>
      <TD STYLE="width: 33%; padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><U>Units Approving</U></B></P></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">2</P></TD>
      <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">An amendment to the Limited Partnership Agreement
          of the Fund which would change tax treatment of certain distributions to the General Partners.</P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P></TD>
      <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>
          <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">55.5%</P></TD></TR>
  <TR STYLE="vertical-align: top">
      <TD STYLE="font: 10pt Palatino Linotype, Palatino, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">3</FONT></TD>
      <TD STYLE="font: 10pt Palatino Linotype, Palatino, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The dissolution of the Fund which will occur following the settlement of all accounts of the Fund.</FONT></TD>
      <TD STYLE="font: 10pt Palatino Linotype, Palatino, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">57.3%</FONT></TD></TR>
  </TABLE>
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0; text-align: center"><B>Signature</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 0; text-align: center"><B>&nbsp;</B></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 1pt 0 3pt; text-indent: 25pt">Pursuant to the requirements of the Securities
  Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>
  
  <P STYLE="font: 10pt Courier New, Courier, Monospace; margin: 0">&nbsp;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Date: February 18, 2015&#9;&#9;<B>DSI Realty Income Fund VII</B>&#9;&#9;&#9;</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">By: DSI PROPERTIES, INC.,</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">General Partner</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
  
  <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><IMG SRC="image4.jpg" ALT=""></P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">______________________</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Richard P. Conway</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Executive Vice President and</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Chief Financial Officer</P>
  
  <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
  
  
  
  
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metadata_filer: {"company-data": {"conformed-name": "DSI REALTY INCOME FUND VII", "cik": "0000719581", "assigned-sic": "6500", "irs-number": "953871044", "state-of-incorporation": "CA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "002-83291", "film-number": "15630089"}, "business-address": {"street1": "6700 E. PACIFIC COAST HWY", "street2": "SUITE 150", "city": "LONG BEACH", "state": "CA", "zip": "90803", "phone": "562-493-8881"}, "mail-address": {"street1": "PO BOX 357", "city": "LONG BEACH", "state": "CA", "zip": "90801"}}
text: UNITED STATES
  SECURITIES AND EXCHANGE COMMISSION
  Washington, D.C. 20549
  FORM 8-K
  CURRENT REPORT
  Pursuant to Section 13 OR 15(d) of the Securities
          Exchange Act of 1934
  Date of Report (Date of earliest event reported):
  January 23, 2015
  DSI Realty Income Fund VII
  (Exact name of registrant as specified in its charter)
  California
  2-83291
  95-3871044
  (State or other jurisdiction
  of incorporation)
  (Commission
  File Number)
  (I.R.S. Employer
  Identification No.)
  6700 E. Pacific Coast Hwy,  Long Beach,  California
  90803
  (Address of principal executive offices)
  (Zip Code)
  Registrant's telephone number, including area code    (562) 493-8881
  Not Applicable
  (Former name or former address, if changed since last report.)
  Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
  ¨
  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  ¨
  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  ¨
  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  ¨
  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
  Item 2.01 	Completion of Acquisition or Disposition of Assets.
  Item 5.07 	Submission of Matters to a Vote of Security Holders.
  On
  January 23, all of the properties and assets of DSI Realty Income Fund VII (the "Fund") were sold to affiliates of
  Smart Stop Self Storage for an aggregate gross sale price of $16,840,000
  (the
  "Sale"). The Sale was approved by the affirmative vote of the holders of approximately 55.6% of the outstanding units
  of limited partnership interests in the Fund (the "Units") in accordance with the proxy statement of the Fund dated
  November 21, 2014 (the "Proxy Statement").
  Also approved under the Proxy Statement were
  the following:
  Proposal
  Action Approved
  Units Approving
  2
  An amendment to the Limited Partnership Agreement
          of the Fund which would change tax treatment of certain distributions to the General Partners.
  55.5%
  3
  The dissolution of the Fund which will occur following the settlement of all accounts of the Fund.
  57.3%
  Signature
  Pursuant to the requirements of the Securities
  Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
  Date: February 18, 2015
  DSI Realty Income Fund VII
  By: DSI PROPERTIES, INC.,
  General Partner
  ______________________
  Richard P. Conway
  Executive Vice President and
  Chief Financial Officer