<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
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<BONDS>                                          3,482
<COMMON>                                    11,140,998
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<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
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