<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE FINANCIAL STATEMENTS FOR THE QUARTER ENDED SEPTEMBER 30, 1994 AND IS QUALIFITED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1994 <PERIOD-END> SEP-30-1994 <CASH> 924,832 <SECURITIES> 0 <RECEIVABLES> 158,541 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 415,020 <PP&E> 28,077,355<F1> <DEPRECIATION> (11,258,313)<F2> <TOTAL-ASSETS> 18,317,435 <CURRENT-LIABILITIES> 756,185 <BONDS> 12,852,205<F3> <COMMON> 4,709,045<F4> <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 18,317,435 <SALES> 3,206,858 <TOTAL-REVENUES> 3,206,858 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 2,622,462<F5> <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 947,132 <INCOME-PRETAX> (362,736) <INCOME-TAX> 0 <INCOME-CONTINUING> (362,736) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (362,736) <EPS-PRIMARY> 0<F6> <EPS-DILUTED> 0<F6> <FN> <F1>Includes apartment complexes of $18,263,232, retail centre of $9,605,400 & deferred expenses of $208,723. <F2>Includes depreciation of $11,248,013 & amoritization of deferred expenses $10,300. <F3>Represents mortgage note payable. <F4>Represents to the equity of general partners and limited partners of $(223,464) and $4,932,509, respectively. <F5>Includes operating expenses $1,347,336, real estate tax expenses $304,333 & depreciation & amortization $970,793. <F6>Net loss allocated $(3,627) to general partners and $(359,109) to limited partners for the 9 months ended 9/30/94. Average net income per unit of limited partners interest is $(13.21) on 27,184 units outstanding. </FN>