<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFFORMATION EXTRACTED FROM THE FINANCIAL STATEMENTS FOR THE QUARTER ENDED SEPTEMBER 30, 1994 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1994 <PERIOD-END> SEP-30-1994 <CASH> 7,411,342 <SECURITIES> 10,368,687 <RECEIVABLES> 313,177 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 148,992 <PP&E> 80,887,838<F1> <DEPRECIATION> (14,096,659) <TOTAL-ASSETS> 85,033,377 <CURRENT-LIABILITIES> 803,582 <BONDS> 0 <COMMON> 84,229,795<F2> <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <OTHER-SE> 0 <TOTAL-LIABILITY-AND-EQUITY> 85,033,377 <SALES> 5,996,010<F3> <TOTAL-REVENUES> 5,996,010 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 3,685,165<F4> <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 0 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 2,310,845 <EPS-PRIMARY> 0<F5> <EPS-DILUTED> 0<F5> <FN> <F1>Includes multi-family complex of $10,064,782, retail centers of $49,344,909 and investment in J.V. of $21,478,147. <F2>Equity of general partners $(300,373), limited partner of $84,530,168. <F3>Includes all revenue for the partnership. <F4>Includes all expenses for the partnership. <F5>Net income allocated $46,217 to the general partners and $2,264,628 to the limited partners. Average net income is $.30 on 7,499,818 units outstanding. </FN>