<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from National Property Investors III 2000 First Quarter 10-QSB and is qualified in its entirety by reference to such 10-QSB filing. </LEGEND> <CIK> 0000310485 <NAME> National Property Investors III <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-2000 <PERIOD-START> JAN-01-2000 <PERIOD-END> MAR-31-2000 <CASH> 2,476 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0 <F1> <PP&E> 38,127 <DEPRECIATION> 26,027 <TOTAL-ASSETS> 16,249 <CURRENT-LIABILITIES> 0 <F1> <BONDS> 27,051 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> (12,335) <TOTAL-LIABILITY-AND-EQUITY> 16,249 <SALES> 0 <TOTAL-REVENUES> 2,200 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 2,092 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 521 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 108 <EPS-BASIC> 2.23 <F2> <EPS-DILUTED> 0 <FN> <F1> Registrant has an unclassified balance sheet. <F2> Multiplier is 1. </FN>