<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from Angeles Income Properties, Ltd. III 1998 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-31-1998 <PERIOD-END> MAR-31-1998 <CASH> 1,198 <SECURITIES> 0 <RECEIVABLES> 192 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 0<F1> <PP&E> 14,498 <DEPRECIATION> (9,425) <TOTAL-ASSETS> 6,983 <CURRENT-LIABILITIES> 0<F1> <BONDS> 3,744 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 2,880 <TOTAL-LIABILITY-AND-EQUITY> 6,983 <SALES> 0 <TOTAL-REVENUES> 455 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 463 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 90 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (8) <EPS-PRIMARY> (.09)<F2> <EPS-DILUTED> 0 <FN> <F1>Registrant has an unclassified balance sheet. <F2>Multiplier is 1. </FN>