<TABLE> <S> <C>

 <ARTICLE>                  5
        
 <S>                                                  <C>
 <PERIOD-TYPE>                                        9-MOS
 <FISCAL-YEAR-END>                                    MAR-31-1998
 <PERIOD-END>                                         DEC-31-1997
 <CASH>                                               384,407
 <SECURITIES>                                         2,876,887
 <RECEIVABLES>                                        000
 <ALLOWANCES>                                         000
 <INVENTORY>                                          000
 <CURRENT-ASSETS>                                     000
 <PP&E>                                               000
 <DEPRECIATION>                                       000
 <TOTAL-ASSETS>                                       31,454,312<F1>
 <CURRENT-LIABILITIES>                                000
 <BONDS>                                              000
 <PREFERRED-MANDATORY>                                000
 <PREFERRED>                                          000
 <COMMON>                                             000
 <OTHER-SE>                                           30,370,096
 <TOTAL-LIABILITY-AND-EQUITY>                         31,454,312<F2>
 <SALES>                                              000
 <TOTAL-REVENUES>                                     227,881<F3>
 <CGS>                                                000
 <TOTAL-COSTS>                                        000
 <OTHER-EXPENSES>                                     413,252<F4>
 <LOSS-PROVISION>                                     000
 <INTEREST-EXPENSE>                                   47,772
 <INCOME-PRETAX>                                      000
 <INCOME-TAX>                                         000
 <INCOME-CONTINUING>                                  000
 <DISCONTINUED>                                       000
 <EXTRAORDINARY>                                      000
 <CHANGES>                                            000
 <NET-INCOME>                                         (3,232,122)<F5>
 <EPS-PRIMARY>                                        (46.42)
 <EPS-DILUTED>                                        000
 <FN>
 <F1>Included  in total assets is  mortgagee  escrow  deposits of $7,130,  tenant
security deposit escrow of $2,886,  Investments in Local Limited Partnerships of
$27,185,132, rental property of $949,515, a replacement reserve escrow of $2,345
and other  assets of  $46,010.  <F2>Included  in Total  Liability  and Equity is
accounts payable to affiliates of $9,245,  accounts payable and accrued expenses
of $67,853, mortgage notes payable of $710,691, tenant security deposits payable
of $2,886,  deferred revenue of $158,724 and minority  interest in Local Limited
Partnership  of $134,817.  <F3>Total  revenue  includes  investment of $136,992,
rental of  $68,042  and other of  $22,847.  <F4>Included  in Other  Expenses  is
general and  administrative  of  $170,677,  asset  management  fees of $177,531,
rental operations of $14,246, property management fee of $4,122, depreciation of
$24,708 and amortization of $21,968.  <F5>Net loss includes minority interest in
losses  of Local  Limited  Partnerships  of $221 and  equity  in losses of Local
Limited   Partnerships  of  $2,999,200.   
 </FN>  
           
 
</TABLE>