<TABLE> <S> <C>

<ARTICLE>                  5

<S>                                                  <C>
<PERIOD-TYPE>                                        3-MOS
<FISCAL-YEAR-END>                                    MAR-31-2000
<PERIOD-END>                                         JUN-30-1999
<CASH>                                               576,356
<SECURITIES>                                         522,838
<RECEIVABLES>                                        145,080<F1>
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     000
<PP&E>                                               13,057,771
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       30,128,889<F2>
<CURRENT-LIABILITIES>                                000
<BONDS>                                              000
<COMMON>                                             000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<OTHER-SE>                                           17,619,160
<TOTAL-LIABILITY-AND-EQUITY>                         30,128,889<F3>
<SALES>                                              000
<TOTAL-REVENUES>                                     757,978<F4>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     828,551<F5>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   201,092
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         (1,018,032)<F6>
<EPS-BASIC>                                        (10.08)
<EPS-DILUTED>                                        000
<FN>
<F1>Included in receivables:  Accounts receivable,  net of $112,830 and Interest
receivable  of  $32,250.  <F2>Included  in total  assets:  Prepaid  expenses  of
$10,104, Tenant security deposits of $94,211,  Replacement reserves of $215,427,
Other  assets  of  $228,699,   Investments  in  Local  Limited  Partnerships  of
$14,953,274, Deferred acquisition fees escrow of $112,500 and Deferred expenses,
net of $212,629.  <F3>Included in Total Liabilities and Equity: Accounts payable
to affiliates of $2,068,949,  Accounts payable and accrued expenses of $531,229,
Interest  payable of $323,056,  Notes payable,  affiliate of $514,968,  Security
deposits  payable of $84,471,  Deferred  acquisition  fees  payable of $112,500,
Advances from  affiliate of $200,000,  Mortgage  notes payable of $7,789,986 and
Minority interest in Local Limited  Partnerships of $884,570.  <F4>Total revenue
includes:  Rental of $613,353,  Investment  of $12,229,  Recovery of bad debt of
$80,639, and Other of $51.757.  <F5>Included in Other Expenses: Asset management
fees of $91,815,  General and  administrative of $103,442,  Property  management
fees of $29,683,  Rental  operations,  exclusive  of  depreciation  of $407,096,
Depreciation  of $155,339 and  Amortization  of $41,176.  <F6>Net loss reflects:
Equity in losses of Local Limited Partnerships of $554,641,  Loss on liquidation
of interest in Local Limited  Partnership  of $193,883 and minority  interest in
losses of Local Limited  Partnerships of $2,157.
</FN>


</TABLE>