<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from Angeles Income Properties Ltd. V 1996 First Quarter 10-QSB and is qualified in its entirety by reference to such 10-QSB filing. </LEGEND> <CIK> 0000792181 <NAME> ANGELES INCOME PROPERTIES LTD V <MULTIPLIER> 1,000 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> MAR-31-1996 <CASH> 281 <SECURITIES> 0 <RECEIVABLES> 8 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 437 <PP&E> 9,829 <DEPRECIATION> 2,582 <TOTAL-ASSETS> 7,775 <CURRENT-LIABILITIES> 242 <BONDS> 10,218 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> (6,116) <TOTAL-LIABILITY-AND-EQUITY> 7,775 <SALES> 0 <TOTAL-REVENUES> 418 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 748 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 341 <INCOME-PRETAX> (330) <INCOME-TAX> 0 <INCOME-CONTINUING> (330) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (330) <EPS-PRIMARY> (.007) <EPS-DILUTED> 0