<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Angeles
Income Properties Ltd. III 1997 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-31-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                           1,445
<SECURITIES>                                         0
<RECEIVABLES>                                       71
<ALLOWANCES>                                        26
<INVENTORY>                                          0
<CURRENT-ASSETS>                                     0<F1>
<PP&E>                                          14,180
<DEPRECIATION>                                   8,747
<TOTAL-ASSETS>                                   7,603
<CURRENT-LIABILITIES>                                0<F1>
<BONDS>                                          3,787
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                      (2,454)
<TOTAL-LIABILITY-AND-EQUITY>                     7,603
<SALES>                                              0
<TOTAL-REVENUES>                                   523
<CGS>                                                0
<TOTAL-COSTS>                                        0
<OTHER-EXPENSES>                                   492
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                  91
<INCOME-PRETAX>                                  (204)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              (204)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     (204)
<EPS-PRIMARY>                                   (2.33)<F2>
<EPS-DILUTED>                                        0
<FN>
<F1>Registrant has an unclassified balance sheet.
<F2>Multiplier is 1.
</FN>