[ARTICLE] 5 [PERIOD-TYPE] 12-MOS [FISCAL-YEAR-END] DEC-31-1994 [PERIOD-END] DEC-31-1994 [CASH] 7,072,127 [SECURITIES] 9,815,123 [RECEIVABLES] 536,521 [ALLOWANCES] 0 [INVENTORY] 0 [CURRENT-ASSETS] 230,213 [PP&E] 81,225,479<F1> [DEPRECIATION] (14,602,206) [TOTAL-ASSETS] 84,277,257 [CURRENT-LIABILITIES] 814,633 [BONDS] 0 [COMMON] 83,462,624<F2> [PREFERRED-MANDATORY] 0 [PREFERRED] 0 [OTHER-SE] 0 [TOTAL-LIABILITY-AND-EQUITY] 84,277,257 [SALES] 8,022,513<F3> [TOTAL-REVENUES] 8,022,513 [CGS] 0 [TOTAL-COSTS] 0 [OTHER-EXPENSES] 4,957,896<F4> [LOSS-PROVISION] 0 [INTEREST-EXPENSE] 0 [INCOME-PRETAX] 0 [INCOME-TAX] 0 [INCOME-CONTINUING] 0 [DISCONTINUED] 0 [EXTRAORDINARY] 0 [CHANGES] 0 [NET-INCOME] 3,064,617 [EPS-PRIMARY] 0<F5> [EPS-DILUTED] 0<F5> <FN> <F1>Includes multifamily complex of $10,095,223, retial centers of $49,790,283 and investment in J.V. of $21,339,973. <F2>Equity of general partners ($306,278), limited partners of $83,768,902. <F3>Includes all revenues for the partnership. <F4>Includes all expenses for the partnership. <F5>Net income allocated $61,292 to the general partners and $3,003,325 to the limited partners, average net income is $.40 on 7,499,818 units outstanding. </FN>