WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE. <ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from the Krupp Realty Fund 7 financial statement for the quarter ended June 30, 1997 and is qualified in its entirety by reference to such financial statements. </LEGEND> <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> 12-31-97 <PERIOD-END> 06-30-97 <CASH> 1,049,681 <SECURITIES> 0 <RECEIVABLES> 191,831<F1> <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 601,513 <PP&E> 29,393,788<F2> <DEPRECIATION> (14,862,398)<F3> <TOTAL-ASSETS> 16,374,415 <CURRENT-LIABILITIES> 769,142 <BONDS> 12,465,507<F4> <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 3,139,766<F5> <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 16,374,415 <SALES> 0 <TOTAL-REVENUES> 2,389,830<F6> <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 1,841,608<F7> <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 545,991 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 2,231<F8> <EPS-PRIMARY> 0<F8> <EPS-DILUTED> 0<F8> <FN> <F1>Includes all receivables grouped in "Prepaid expenses and other assets" on the balance sheet. <F2>Includes apartment complexes of $19,391,085, retail center of $9,715,409 and deferred expenses of $284,294. <F3>Accumulated depreciation of $14,753,088 and accumulated amortization of deferred expenses of $109,310. <F4>Represents mortgage note payable. <F5>Total deficit of the General Partners of ($254,132) and equity of the Limited Partners $3,393,898. <F6>Represents total revenue of the Partnership. <F7>Operating expenses of $932,899, real estate tax expense $234,811 and depreciation and amortization of $673,898. <F8>Net income allocated $45 to the General Partners and $2,186 to the Limited Partners. Average net income per unit of Limited Partner interest is $.07 on 27,184 units outstanding. </FN>