<ARTICLE> 5
<CIK> 0000102438
<NAME> USP REAL ESTATE INVESTMENT TRUST
       
                                                 
<PERIOD-TYPE>                   9-MOS                  
<FISCAL-YEAR-END>                          DEC-31-1994            
<PERIOD-END>                               SEP-30-1995             
<CASH>                                       1,459,938               
<SECURITIES>                                         0                       
<RECEIVABLES>                                  568,927                 
<ALLOWANCES>                                   103,624                 
<INVENTORY>                                          0                       
<CURRENT-ASSETS>                             2,308,392             
<PP&E>                                      39,651,566              
<DEPRECIATION>                              10,273,234              
<TOTAL-ASSETS>                              32,981,215              
<CURRENT-LIABILITIES>                        1,050,292              
<BONDS>                                     15,388,645              
<COMMON>                                     3,880,000              
<PREFERRED-MANDATORY>                                0              
<PREFERRED>                                          0              
<OTHER-SE>                                  12,662,278              
<TOTAL-LIABILITY-AND-EQUITY>                32,981,215              
<SALES>                                              0              
<TOTAL-REVENUES>                             4,179,181              
<CGS>                                                0              
<TOTAL-COSTS>                                1,865,083              
<OTHER-EXPENSES>                               311,900              
<LOSS-PROVISION>                                     0              
<INTEREST-EXPENSE>                           1,180,803              
<INCOME-PRETAX>                                821,395              
<INCOME-TAX>                                         0              
<INCOME-CONTINUING>                            821,395              
<DISCONTINUED>                                       0              
<EXTRAORDINARY>                                      0              
<CHANGES>                                            0              
<NET-INCOME>                                   821,395              
<EPS-PRIMARY>                                      .21              
<EPS-DILUTED>                                      .21