<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