<TABLE> <S> <C>

<ARTICLE>                  5
       
<S>                                                  <C>
<PERIOD-TYPE>                                        3-MOS
<FISCAL-YEAR-END>                                    MAR-31-1999
<PERIOD-END>                                         JUN-30-1998
<CASH>                                               263,920
<SECURITIES>                                         3,270,355
<RECEIVABLES>                                        000
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     000
<PP&E>                                               795,968
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       28,041,423<F1>
<CURRENT-LIABILITIES>                                000
<BONDS>                                              000
<COMMON>                                             000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<OTHER-SE>                                           26,874,666
<TOTAL-LIABILITY-AND-EQUITY>                         28,041,423<F2>
<SALES>                                              000
<TOTAL-REVENUES>                                     76,204<F3>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     146,993<F4>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   19,500
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         (893,230)<F5>
<EPS-PRIMARY>                                        (12.83)
<EPS-DILUTED>                                        000
<FN>
<F1>Included  in total  assets  is tenant  security  deposit  escrow of  $3,017,
Investments in Local Limited  Partnerships of $23,649,420,  replacement  reserve
escrow of $2,400 and other assets of $56,343.  <F2>Included  in Total  Liability
and Equity is accounts  payable to affiliates of $129,551,  accounts payable and
accrued expenses of $46,221,  mortgage note payable of $706,159, tenant security
deposits payable of $3,017,  deferred revenue of $141,356 and minority  interest
in Local Limited  Partnership of $140,453.  <F3>Total revenue includes rental of
$29,475,  investment  of  $44,265,  and other of $2,464.  <F4>Included  in Other
Expenses is general  and  administrative  of $59,139  asset  management  fees of
$60,556, rental operations,  exclusive of depreciation of $10,082,  depreciation
of $10,000 and amortization of $7,216.  <F5>Net loss includes  minority interest
in losses of Local  Limited  Partnerships  of $101 and equity in losses of Local
Limited Partnerships of $803,042. 
</FN>
         

</TABLE>