<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