<TABLE> <S> <C>

<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Krupp
Institutional Mortgage Fund Limited Partnership Financial Statements for the six
months ended June 30, 1998 and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               JUN-30-1998
<CASH>                                       1,631,096
<SECURITIES>                                         0
<RECEIVABLES>                                   15,632<F1><F2>
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               1,646,728
<CURRENT-LIABILITIES>                           14,002
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                     1,632,726<F3>
<OTHER-SE>                                           0
<TOTAL-LIABILITY-AND-EQUITY>                 1,646,728
<SALES>                                              0
<TOTAL-REVENUES>                               111,587<F4>
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                               351,092<F5>
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (237,110)<F6>
<EPS-PRIMARY>                                        0<F6>
<EPS-DILUTED>                                        0<F6>
<FN>
<F1>Includes all receivables on the Balance Sheet.
<F2>KELP sold its remaining properties on January 30, 1998 to unaffiliated third
parties with twelve other properties for a total selling price of $138,000,000,
of which KELP received $5,027,200 for the sale of its properties, less its
share of closing costs.  KELP used the net sales proceeds of $4,778,696 to pay
down the mortgage notes payable to the Partnership.  As a result of the sale of
KELP's properties, certain notes totaling $2,790,388, pledged to the
Partnership under a Collateral Pledge Agreement, were paid by the original
General Partners of KELP to the Partnership on May 12, 1998.
<F3>Represents Limited Partners equity of $1,848,371 and General Partners deficit
of ($215,645), respectively.
<F4>Includes all income of the Partnership consisting of interest income only.
<F5>Represents total expenses of the Partnership.
<F6>Net loss allocated ($2,395) to the General Partners and ($237,110) to the
Limited Partners.  Average net loss per Unit of Limited Partners interest is
($7.89) on 30,059 Units outstanding.
</FN>
        

</TABLE>