<ARTICLE> 5 <CIK> 0000760375 <NAME> WELLESLEY LEASE INCOME LTD PSHP III-B 3-31-96 FDS <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1996 <CASH> 41,006 <SECURITIES> 10,459 <RECEIVABLES> 83,013 <ALLOWANCES> 15,649 <INVENTORY> 0 <CURRENT-ASSETS> 118,829 <PP&E> 1,556,972 <DEPRECIATION> 1,478,970 <TOTAL-ASSETS> 196,831 <CURRENT-LIABILITIES> 42,642 <BONDS> 0 <COMMON> 11,140,998 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> (10,986,809) <TOTAL-LIABILITY-AND-EQUITY> 196,831 <SALES> 77,066 <TOTAL-REVENUES> 80,634 <CGS> 0 <TOTAL-COSTS> 2,216 <OTHER-EXPENSES> 51,702 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 26,716 <INCOME-TAX> 0 <INCOME-CONTINUING> 26,716 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 26,716 <EPS-PRIMARY> 1.01 <EPS-DILUTED> 0