<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from Krupp Realty Fund 7 Financial Statements for the three months ended March 31, 1999 and is qualified in its entirety by reference to such financial statements. </LEGEND> <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-END> MAR-31-1999 <CASH> 490,870 <SECURITIES> 0 <RECEIVABLES> 217,058<F1> <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 306,357 <PP&E> 22,651,541<F2> <DEPRECIATION> (13,254,719)<F3> <TOTAL-ASSETS> 10,411,107 <CURRENT-LIABILITIES> 434,604 <BONDS> 10,298,407<F4> <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> (321,904)<F5> <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 10,411,107 <SALES> 0 <TOTAL-REVENUES> 978,771<F6> <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 896,897<F7> <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 220,690 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (138,816)<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>Multi-family complexes of $22,335,886 and deferred expenses of $315,655. <F3>Accumulated depreciation of $13,112,247 and accumulated amortization of $142,472. <F4>Represents mortgage notes payable. <F5>Total deficit of the General Parnters of ($300,320) and of the Limited Partners of $(21,584). <F6>Includes all revenue of the Partnership. <F7>Includes operating expenses of $390,754, real estate taxes of $136,200 and depreciation and amortization of $369,943. <F8>Net loss allocated $(1,388) to the General Partners and $(137,428) to the Limited Partners. Average net loss per Unit of Limited Partner interest is $(5.06) on 27,184 Units outstanding. </FN>