<ARTICLE> 5 <CIK> 0000808420 <NAME> ASSOCIATED PLANNERS REALTY INCOME FUND L.P. <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> JUN-30-1998 <CASH> 274,098 <SECURITIES> 0 <RECEIVABLES> 3,652 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 285,772 <PP&E> 4,887,188 <DEPRECIATION> (880,235) <TOTAL-ASSETS> 4,295,422 <CURRENT-LIABILITIES> 43,789 <BONDS> 0 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 4,251,633 <TOTAL-LIABILITY-AND-EQUITY> 4,295,422 <SALES> 206,718 <TOTAL-REVENUES> 212,108 <CGS> 102,316 <TOTAL-COSTS> 102,316 <OTHER-EXPENSES> 0 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 109,792 <INCOME-TAX> 0 <INCOME-CONTINUING> 0 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 109,792 <EPS-PRIMARY> 18.49 <EPS-DILUTED> 18.49