<TABLE> <S> <C>

<ARTICLE>                  5

<S>                                                  <C>
<PERIOD-TYPE>                                        9-MOS
<FISCAL-YEAR-END>                                    MAR-31-2000
<PERIOD-END>                                         DEC-31-1999
<CASH>                                               423,541
<SECURITIES>                                         501,891
<RECEIVABLES>                                        119,538<F1>
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     000
<PP&E>                                               12,789,457
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       27,890,538<F2>
<CURRENT-LIABILITIES>                                000
<BONDS>                                              000
<COMMON>                                             000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<OTHER-SE>                                           15,292,519
<TOTAL-LIABILITY-AND-EQUITY>                         27,890,538<F3>
<SALES>                                              000
<TOTAL-REVENUES>                                     2,082,941<F4>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     2,834,802<F5>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   578,909
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         (3,343,896)<F6>
<EPS-BASIC>                                        (33.10)
<EPS-DILUTED>                                        000
<FN>
<F1>Included  in  receivables:  Accounts  Receivable  of $111,773  and  Interest
receivable of $7,765. <F2>Included in Total assets: Prepaid expenses of $25,439,
Tenant security  deposits of $83,216,  Other assets of $239,257,  Investments in
Local Limited Partnerships,  net of $13,253,492,  Operating reserves of $41,285,
replacement  reserves  of  $214,366  and  Deferred  expenses,  net of  $199,056.
<F3>Included in Total Liabilities and Equity:  Accounts payable to affiliates of
$2,259,660,  Accounts payable and accrued expenses of $373,545, Interest payable
of $336,925, Notes payable, affiliate of $514,968,  Security deposits payable of
$81,784, Advances from affiliates $200,000, Mortgage notes payable of $7,951,381
and Minority interest in Local Limited Partnerships of $879,756. <F4>Included in
Total  revenue:  Rental  of  $1,831,776,  Investment  of  $36,669  and  Other of
$214,496.  <F5>Included  in Other Expenses:  Asset  management fees of $284,764,
General  and  administrative  of  $203,554,  Bad  debt  of  $102,998,   Property
management  fees of $86,719,  Rental  operations,  exclusive of  depreciation of
$1,195,201,  Depreciation of $467,441,  Amortization of $111,933,  and provision
for  valuation  of  investment  in  Local  Limited   Partnership   of  $382,192.
<F6>Included  in net loss:  Equity in losses of Local  Limited  Partnerships  of
$1,826,214,  Loss on liquidation of interests in Local Limited  Partnerships  of
$193,883,  and  Minority  interest in losses of Local  Limited  Partnerships  of
$(6,971).
</FN>


</TABLE>