<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from Krupp Realty Fund 3 Financial Statements for the quarter ended March 31, 1998 and is qualified in its entirety by reference to such financial statements. </LEGEND> <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> MAR-31-1998 <CASH> 248,228 <SECURITIES> 0 <RECEIVABLES> 27,923<F1> <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 1,186,904 <PP&E> 31,516,291<F2> <DEPRECIATION> (20,840,641)<F3> <TOTAL-ASSETS> 12,138,705 <CURRENT-LIABILITIES> 676,369 <BONDS> 19,029,776<F4> <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> (7,567,440)<F5> <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 12,138,705 <SALES> 0 <TOTAL-REVENUES> 1,885,971<F6> <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 1,262,077<F7> <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 423,290 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 200,604<F8> <EPS-PRIMARY> 0<F8> <EPS-DILUTED> 0<F8> <FN> <F1>Includes all receivables grouped in "Prepaid Expenses and Other Assets" on the Balance Sheet. <F2>Includes apartment complexes of $30,996,707 and deferred expenses of $519,584. <F3>Includes depreciation of $20,616,197 and amortization of deferred expenses of $224,444. <F4>Represents mortgage note payable. <F5>Represents total deficit of the General Partners ($329,622) and the Limited Partners ($7,237,818). <F6>Includes all revenue of the Partnership. <F7>Includes operating expenses of $711,602, real estate taxes of $139,447 and depreciation and amortization of $411,028. <F8>Net Income allocated $2,006 to General Partners and $198,598 to Limited Partners. Net income of $7.62 per unit on 25,000 units outstanding. </FN>