<TABLE> <S> <C>

<ARTICLE>                  5
       
<S>                                                  <C>
<PERIOD-TYPE>                                        6-MOS
<FISCAL-YEAR-END>                                    MAR-31-1997
<PERIOD-END>                                         SEP-30-1996
<CASH>                                               257,152
<SECURITIES>                                         168,917
<RECEIVABLES>                                        73,550 <F1>
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     201,879 <F2>
<PP&E>                                               12,611,729
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       41,930,807<F3>
<CURRENT-LIABILITIES>                                6,075,879<F4>
<BONDS>                                              000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<COMMON>                                             000
<OTHER-SE>                                           31,805,532
<TOTAL-LIABILITY-AND-EQUITY>                         41,930,807<F5>
<SALES>                                              000
<TOTAL-REVENUES>                                     1,080,562 <F6>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     1,436,569 <F7>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   448,709
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         (2,748,192) <F8>
<EPS-PRIMARY>                                        (27.21)
<EPS-DILUTED>                                        000
<FN>
<F1>Included in receivables: Accounts receivable, net $72,227 and Interest
     receivable $1,323.
<F2>Included  in current  assets:  Prepaid  expenses  $41,581,  Tenant  security
     deposits $63,223 and Other current assets $97,075.
<F3>Included in total assets:Investments in Local Limited Partnerships, net
     $27,924,994, Replacement Reserves $154,349,  Deferred acquisition fees
     escrow $450,000 and Deferred expenses,  net $88,237.  
<F4>Included in current  liabilities:  Accounts  payable to affiliates
     $986,362,  Accounts  payable and accrued expenses  $451,808,  Current 
     portion of mortgage notes payable  $4,196,171,  Interest payable $356,847,
     Notes payable - affiliate  $22,279,  Security  deposits payable  $62,412.  
<F5>Included in Total Liabilities and Equity:  Due to affiliate  $323,046,  
     Deferred  acquisition fees payable  $450,000,  Former  general  partner  
     advances  $200,000,  $2,740,082 of mortgage  notes  payable and  Minority  
     interest in Local  Limited  Partnerships $336,268.  
<F6>Total revenue includes:  Rental $885,261,  Investment $67,362 and
     Other $127,939.  
<F7>Included in Other Expenses:  Asset management fees, related party $227,722,
     General and Administrative  $196,315,  Property management fees $69,021,
     Rental operations,  exclusive of depreciation  $604,495,  Depreciation
     $250,172 and Amortization  $88,844.  
<F8>Net loss reflects:  equity in losses of Local Limited Partnerships of
     $(1,897,565), minority interest in losses of Local Limited  Partnerships 
     of  $5,684,  and  extraordinary  loss on  forgiveness  of indebtedness of 
     $51,595.
</FN>
         

</TABLE>