<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from Angeles Income Properties Ltd, III 1996 First Quarter 10-QSB and is qualified in its entirety by reference to such 10-QSB filing </LEGEND> <CIK> 0000720460 <NAME> ANGELES INCOME PROPERTIES LTD III <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1996 <CASH> 1,433 <SECURITIES> 0 <RECEIVABLES> 18 <ALLOWANCES> 30 <INVENTORY> 0 <CURRENT-ASSETS> 0<F1> <PP&E> 14,017 <DEPRECIATION> 8,091 <TOTAL-ASSETS> 7,700 <CURRENT-LIABILITIES> 0<F1> <BONDS> 3,434 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> (1,506) <TOTAL-LIABILITY-AND-EQUITY> 7,700 <SALES> 0 <TOTAL-REVENUES> 413 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 503 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 106 <INCOME-PRETAX> (331) <INCOME-TAX> 0 <INCOME-CONTINUING> (331) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (331) <EPS-PRIMARY> (3.78)<F2> <EPS-DILUTED> 0 <FN> <F1>The Registrant has an unclassified balance sheet. <F2>Amount not in thousands. </FN>