<TABLE> <S> <C>

<ARTICLE>                     5
<LEGEND>
                            THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION
                   EXTRACTED FROM THE BALANCE SHEET AS OF SEPTEMBER 30, 1998 AND
                               THE STATEMENT OF INCOME FOR THE NINE MONTHS ENDED
                SEPTEMBER 30, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
                                                   TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK>                                                                     797977
<NAME>                                PARTICIPATING INCOME PROPERTIES 1986, L.P.
<MULTIPLIER>                                                                   1
<CURRENCY>                                                          U.S. DOLLARS
       
<S>                                          <C>
<PERIOD-TYPE>                                9-MOS
<FISCAL-YEAR-END>                                                                          DEC-31-1998
<PERIOD-START>                                                                             JAN-01-1998
<PERIOD-END>                                                                               SEP-30-1998
<EXCHANGE-RATE>                                                                                      1
<CASH>                                                                                       2,230,931
<SECURITIES>                                                                                         0
<RECEIVABLES>                                                                                  250,232
<ALLOWANCES>                                                                                         0
<INVENTORY>                                                                                          0
<CURRENT-ASSETS>                                                                                     0
<PP&E>                                                                                      34,849,050
<DEPRECIATION>                                                                              12,588,015
<TOTAL-ASSETS>                                                                              24,903,321
<CURRENT-LIABILITIES>                                                                                0
<BONDS>                                                                                              0
<PREFERRED-MANDATORY>                                                                                0
<PREFERRED>                                                                                          0
<COMMON>                                                                                             0
<OTHER-SE>                                                                                  23,306,533
<TOTAL-LIABILITY-AND-EQUITY>                                                                24,903,321
<SALES>                                                                                              0
<TOTAL-REVENUES>                                                                             6,340,185
<CGS>                                                                                                0
<TOTAL-COSTS>                                                                                1,534,315
<OTHER-EXPENSES>                                                                                     0
<LOSS-PROVISION>                                                                                     0
<INTEREST-EXPENSE>                                                                                   0
<INCOME-PRETAX>                                                                              4,800,459
<INCOME-TAX>                                                                                         0
<INCOME-CONTINUING>                                                                          4,800,459
<DISCONTINUED>                                                                                       0
<EXTRAORDINARY>                                                                                      0
<CHANGES>                                                                                            0
<NET-INCOME>                                                                                 4,800,459
<EPS-PRIMARY>                                                                                    91.95
<EPS-DILUTED>                                                                                        0
        

</TABLE>