<ARTICLE>                  5
       
                                                  
<PERIOD-TYPE>                                        6-MOS
<FISCAL-YEAR-END>                                    MAR-31-1997
<PERIOD-END>                                         SEP-30-1996
<CASH>                                               753,739
<SECURITIES>                                         2,905,474
<RECEIVABLES>                                        000
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     000
<PP&E>                                               000
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       37,398,774<F1>
<CURRENT-LIABILITIES>                                247,127<F2>
<BONDS>                                              000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<COMMON>                                             000
<OTHER-SE>                                           37,151,647
<TOTAL-LIABILITY-AND-EQUITY>                         37,398,774
<SALES>                                              000
<TOTAL-REVENUES>                                     169,951<F3>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     280,426<F4>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   000
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         (1,350,058)<F5>
<EPS-PRIMARY>                                        (26.24)
<EPS-DILUTED>                                        000
<FN>
<F1>Included  in total assets:  Investments in Local Limited  Partnerships  $33,466,652,  Restricted cash $232,951,
Organizational costs, net $14,167 and Other current assets of $25,791.
<F2>Included  in current  liabilities:  Accounts  payable to  affiliate  $210,753,  Accounts  payable  and  accrued
expenses $36,374.
<F3>Total revenue includes: Investment $103,118 and Other $66,833.
<F4>Included  in Other  Expenses:  Asset  Management  fees  $137,652,  General  and  Administrative  $119,859,  and
Amortization $22,915.
<F5>Net loss reflects:  Equity in losses of Local Limited Partnerships of $1,239,583.
</FN>