<ARTICLE> 5 <CIK> 0000808420 <NAME> ASSOCIATED PLANNERS REALTY INCOME FUND <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> SEP-30-1996 <CASH> 245,154 <SECURITIES> 0 <RECEIVABLES> 11,084 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 296,052 <PP&E> 4,699,188 <DEPRECIATION> (700,005) <TOTAL-ASSETS> 4,295,235 <CURRENT-LIABILITIES> 41,375 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 4,253,860 <TOTAL-LIABILITY-AND-EQUITY> 4,295,235 <SALES> 302,887 <TOTAL-REVENUES> 316,049 <CGS> 192,468 <TOTAL-COSTS> 192,468 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 123,581 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 123,581 <EPS-PRIMARY> 20.52 <EPS-DILUTED> 20.52