<ARTICLE>                  5

                                                  
<PERIOD-TYPE>                                        9-MOS
<FISCAL-YEAR-END>                                    MAR-31-2000
<PERIOD-END>                                         DEC-31-1999
<CASH>                                               274,479
<SECURITIES>                                         825,856
<RECEIVABLES>                                        100,061
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     000
<PP&E>                                               19,794,687
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       37,813,748<F1>
<CURRENT-LIABILITIES>                                000
<BONDS>                                              000
<COMMON>                                             000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<OTHER-SE>                                           18,902,530
<TOTAL-LIABILITY-AND-EQUITY>                         37,813,748<F2>
<SALES>                                              000
<TOTAL-REVENUES>                                     1,707,630<F3>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     2,208,139<F4>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   591,819
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         1,756,524<F5>
<EPS-BASIC>                                        25.56
<EPS-DILUTED>                                        000
<FN>
<F1>Included  in Total  Assets:  Investments  in Local Limited  Partnerships  of
$15,038,687,  Deferred  charges,  net of $398,881,  Tenant security  deposits of
$109,625,  Mortgagee  escrow deposits of $1,244,674 and other assets of $26,798.
<F2>Included  in  Total  Liabilities  and  Equity:  Mortgage  notes  payable  of
$15,153,800,  Accounts payable to affiliates of $2,108,437, Accounts payable and
accrued  expenses of  $179,774,  Interest  payable of $46,053,  Tenant  security
deposits payable of $99,501, Other Liabilities of $409,766 and Minority interest
in Local Limited Partnerships of $913,887. <F3>Total revenue includes: Rental of
$1,518,386,  Investment of $53,784 and Other of $135,460.  <F4>Included in Other
Expenses:  Asset  management  fees of $136,273,  General and  administrative  of
$306,019, Rental operations,  exclusive of depreciation of $747,734, Bad debt of
$215,345,  Property  management  fees of $76,847,  Depreciation  of $495,397 and
Amortization  of $230,524.  <F5>Net Income  reflects:  Equity in income of Local
Limited  Partnerships of $302,428,  Minority interest in losses of Local Limited
Partnerships  of  $147,498,  Loss on  liquidation  of interest in Local  Limited
Partnership  of  $6,486,  Gain on  transfer  of assets of  $218,408  and Gain on
transfer  cancellation of indebtedness  of $2,482,000.
</FN>