<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from 
Consolidated Capital Institutional Properties/3 1998 Third Quarter 10-Q 
and is qualified in its entirety by reference to such 10-Q filing.
</LEGEND>
<CIK> 0000768890
<NAME> CONSOLIDATED CAPITAL INSTITUTIONAL PROPERTIES/3
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                    9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               SEP-30-1998   
<CASH>                                           8,962
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0<F1>
<PP&E>                                          64,436
<DEPRECIATION>                                  17,654   
<TOTAL-ASSETS>                                  59,444   
<CURRENT-LIABILITIES>                                0<F1>
<BONDS>                                         30,525     
<PREFERRED-MANDATORY>                                0     
<PREFERRED>                                          0  
<COMMON>                                             0
<OTHER-SE>                                      27,306    
<TOTAL-LIABILITY-AND-EQUITY>                    59,444    
<SALES>                                              0
<TOTAL-REVENUES>                                11,689    
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                 9,608    
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               1,736    
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     2,081     
<EPS-PRIMARY>                                     5.38<F2>
<EPS-DILUTED>                                        0
<FN>
<F1>Registrant has an unclassified balance sheet.
<F2>Multiplier is 1.
</FN>