# EXHIBIT        32

**CERTIFICATION        Pursuant to 18 U.S.C. Section 1350,        as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002**

We, the undersigned, certify that,        to the best of our knowledge, this annual report on Form 10-KSB for the year        ended December 31, 2006, of CAPITAL REALTY INVESTORS-III LIMITED PARTNERSHIP, and        containing the financial statements, fully complies with the requirements of Section 13(a)        or 15(d) of the Securities Exchange Act of 1934, and that the information contained in        this annual report fairly presents, in all material respects, the financial condition        and results of operations of the small business issuer.

|               |   | CAPITAL REALTY                    INVESTORS-III LIMITED                         PARTNERSHIP                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|--------------------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|               |   | (Small Business                Issuer)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|               |   | by:  C.R.I.,                    Inc.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
|               |   |         Managing                General Partner                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
| September 28, 2007 |   |        by:  /s/                    William B. Dockser                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
| DATE               |   |               William                B. Dockser,                              Director,                Chairman of the Board,                                  and                Treasurer                                  (Principal                Executive Officer)                    |
| September 28, 2007 |   |        by:  /s/                    H. William Willoughby                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| DATE               |   |               H.                William Willoughby,                              Director,                President, Secretary,                                  Principal                Financial Officer and                                  Principal                Accounting Officer |

        *This certification accompanies this annual report and is made solely for purpose of        18 U.S.C. Section 1350, subject to the knowledge standard contained therein, and not        for any other purpose, and shall not be deemed filed by the small business issuer for        purposes of Section 18 of the Securities Exchange Act of 1934, as amended.*