<TABLE> <S> <C>

<ARTICLE>                  5
       
<S>                                                  <C>
<PERIOD-TYPE>                                        3-MOS
<FISCAL-YEAR-END>                                    MAR-31-1998
<PERIOD-END>                                         JUN-30-1997
<CASH>                                               422,420
<SECURITIES>                                         406,598
<RECEIVABLES>                                        65,688<F1>
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     000
<PP&E>                                               17,693,122
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       42,749,613<F2>
<CURRENT-LIABILITIES>                                000
<BONDS>                                              000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<COMMON>                                             000
<OTHER-SE>                                           26,102,288
<TOTAL-LIABILITY-AND-EQUITY>                         42,749,613<F3>
<SALES>                                              000
<TOTAL-REVENUES>                                     735,240<F4>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     983,299<F5>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   247,776
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         (1,244,147)<F6>
<EPS-PRIMARY>                                        (12.32)
<EPS-DILUTED>                                        000
<FN>
<F1>Included in receivables: Accounts receivable $59,737 and Interest receivable
$5,951.
<F2>Included in total assets: Prepaid expenses $18,219, Tenant security deposits
$69,749,  Other  assets  $264,701,  Investments  in Local  Limited  Partnerships
$23,028,149,  Replacement  reserves $214,681,  Deferred  acquisition fees escrow
$337,500 and Deferred expenses, net $228,786.  <F3>Included in Total Liabilities
and Equity:  Accounts  payable to affiliates  $1,283,651,  Accounts  payable and
accrued expenses $622,613,  Interest payable $444,351, Notes payable,  affiliate
$573,822, Security deposits payable $82,626, Due to affiliate $323,046, Deferred
acquisition fees payable $337,500,  General partner advances $200,000,  Mortgage
notes payable  $11,721,805 and Minority  interest in Local Limited  Partnerships
$1,057,911.  <F4>Total revenue includes: Rental $607,046,  Investment $9,729 and
Other $118,465.  <F5>Included in Other Expenses: Asset management fees $109,095,
General and Administrative $122,829, Bad debt $11,836,  Property management fees
$42,225,  Rental operations,  exclusive of depreciation  $459,904,  Depreciation
$191,112 and Amortization  $46,298.  <F6>Net loss reflects:  equity in losses of
Local Limited Partnerships of $751,196, and minority interest in losses of Local
Limited Partnerships $2,884.
</FN>
         

</TABLE>