<ARTICLE> 5 <CIK> 0000760375 <NAME> WELLESLEY LEASE INCOME LIMITED PARTNERSHIP III B <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1995 <PERIOD-END> SEP-30-1995 <CASH> 78,277 <SECURITIES> 9,458 <RECEIVABLES> 50,991 <ALLOWANCES> 22,329 <INVENTORY> 0 <CURRENT-ASSETS> 116,397 <PP&E> 1,710,632 <DEPRECIATION> 1,602,652 <TOTAL-ASSETS> 224,377 <CURRENT-LIABILITIES> 61,867 <BONDS> 3,482 <COMMON> 11,140,998 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> (10,981,970) <TOTAL-LIABILITY-AND-EQUITY> 224,377 <SALES> 355,205 <TOTAL-REVENUES> 391,572 <CGS> 0 <TOTAL-COSTS> 17,973 <OTHER-EXPENSES> 203,570 <LOSS-PROVISION> (7,537) <INTEREST-EXPENSE> 1,007 <INCOME-PRETAX> 176,559 <INCOME-TAX> 0 <INCOME-CONTINUING> 176,559 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 176,559 <EPS-PRIMARY> 6.57 <EPS-DILUTED> 0