<ARTICLE> 5 <LEGEND> This scheudle contains summary financial information extracted from Krupp Reatly Fund 7 Financial Statements for the nine months ended September 30, 1996 and is qualified in its entirety by reference to such financial statements. </LEGEND> <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> SEP-30-1996 <CASH> 1,052,362 <SECURITIES> 0 <RECEIVABLES> 203,337<F1> <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 434,992 <PP&E> 29,006,331<F2> <DEPRECIATION> (13,843,344)<F3> <TOTAL-ASSETS> 16,853,678 <CURRENT-LIABILITIES> 809,164 <BONDS> 12,609,054<F4> <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 3,435,460<F5> <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 16,853,678 <SALES> 0 <TOTAL-REVENUES> 3,492,721<F6> <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 2,657,158<F7> <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 829,168 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 6,395<F8> <EPS-PRIMARY> 0<F8> <EPS-DILUTED> 0<F8> <FN> <F1>Includes all receivables included in "prepaid expenses and other assets" on the balance sheet. <F2>Includes apartment complexes of $19,011,252, retail center of $9,707,785 and deferred expenses of $287,294. <F3>Accumulated depreciation of $13,760,933 and accumulated amortization off $82,411. <F4>Represents mortgage notes payable. <F5>Total deficit of the General Partners of ($247,680) and equity of Limited Partners of $3,683,140. <F6>Represents total revenue of the Partnership. <F7>Includes operating expenses of $1,323,937, real estate taxes of $352,612 and depreciation and amortization of $980,609. <F8>Net income allocated $128 to the General Partners and $6,267 to the Limited Partners. Average net income per Unit of Limited Partner interest is $.23. </FN>