<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from Fund 1 Financial Statements for the year ended December 31, 1995 and is qualified in its entirety by reference to such financial statements. </LEGEND> <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-END> DEC-31-1995 <CASH> 11,153 <SECURITIES> 0 <RECEIVABLES> 5,072 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 157,495 <PP&E> 4,876,147<F1> <DEPRECIATION> (2,582,540)<F2> <TOTAL-ASSETS> 2,467,327 <CURRENT-LIABILITIES> 867,601 <BONDS> 3,488,394<F3> <COMMON> (1,888,668)<F4> <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 2,467,327 <SALES> 0 <TOTAL-REVENUES> 1,056,448<F5> <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 838,566<F6> <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 371,532 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (153,650) <EPS-PRIMARY> 0<F7> <EPS-DILUTED> 0<F7> <FN> <F1>Includes multi-family complex of $4,729,522 and deferred expenses of $146,625. <F2>Includes depreciation of $2,549,375 and amortization of defined expenses of $33,165. <F3>Represents mortgage note payable of $2,231,009 and notes to an affiliated party of $1,257,385. <F4>Deficit of General Partners ($285,408) and Limited Partners ($603,260). <F5>Includes all revenue of the Partnership. <F6>Includes operating expenses $522,227, real estate tax expense of $127,913 and depreciation and amortization expense of $188,426. <F7>Net loss allocated ($140,528) to the General Partners ($13,122) to the Investor Limited Partners. Average net loss is ($3.28) per Unit of Investor Limited Partner interest for 4,000 Units outstanding. </FN>