<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from Angeles Income Properties Ltd. III 1997 Third 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> 9-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-END> SEP-30-1997 <CASH> 2,389 <SECURITIES> 0 <RECEIVABLES> 28 <ALLOWANCES> 12 <INVENTORY> 0 <CURRENT-ASSETS> 0<F1> <PP&E> 14,409 <DEPRECIATION> 9,084 <TOTAL-ASSETS> 8,438 <CURRENT-LIABILITIES> 0<F1> <BONDS> 3,766 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 4,481 <TOTAL-LIABILITY-AND-EQUITY> 8,438 <SALES> 0 <TOTAL-REVENUES> 1,390 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 1,629 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 273 <INCOME-PRETAX> 6,731 <INCOME-TAX> 0 <INCOME-CONTINUING> 6,731 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 6,731 <EPS-PRIMARY> 76.79<F2> <EPS-DILUTED> 0 <FN> <F1>Registrant has an unclassified balance sheet. <F2>Multiplier is 1. </FN>