<TABLE> <S> <C>

<ARTICLE>                  5
       
<S>                                                  <C>
<PERIOD-TYPE>                                        12-MOS
<FISCAL-YEAR-END>                                    MAR-31-1998
<PERIOD-END>                                         MAR-31-1998
<CASH>                                               239,932
<SECURITIES>                                         3,064,717
<RECEIVABLES>                                        000
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     000
<PP&E>                                               000
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       28,905,668<F1>
<CURRENT-LIABILITIES>                                000
<BONDS>                                              000
<COMMON>                                             000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<OTHER-SE>                                           28,059,181
<TOTAL-LIABILITY-AND-EQUITY>                         28,905,668<F2>
<SALES>                                              000
<TOTAL-REVENUES>                                     321,439<F3>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     1,320,033<F4>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   64,148
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         5,838,302<F5>
<EPS-PRIMARY>                                        (83.85)
<EPS-DILUTED>                                        000
<FN>
<F1>Included  in total  assets is  mortgagee  escrow  deposits  of $382,  tenant
security deposit escrow of $3,017,  investments in Local Limited Partnerships of
$24,775,767, rental property of $778,924, a replacement reserve escrow of $2,888
and other assets of $40,041.  <F2>Included  in total  liabilities  and equity is
deferred  revenue of  $139,461,  accounts  payable  to  affiliates  of  $79,210,
accounts  payable and accrued  expenses of  $72,983,  mortgage  note  payable of
$707,659,  tenant security  deposits payable of $3,017 and minority  interest in
Local Limited Partnership of $140,554.  <F3>Total revenue includes investment of
$179,999, rental of $98,473 and other revenue of $42,967.  <F4>Included in other
expenses are general and  administrative  of $237,092,  asset management fees of
$238,087,  provision for valuation  investment in Local Limited  Partnership  of
$590,197,  rental  operations  of $24,105,  provision  for  valuation  of rental
property of $160,000, property management fee of $5,962, depreciation of $35,299
and amortization of $29,291.  <F5>Net Loss includes  minority interest in losses
of Local Limited  Partnership  of $1,900,  and equity in losses of Local Limited
Partnerships of $4,777,460. </FN>          
</TABLE>