<ARTICLE>                  5
       
                                                  
<PERIOD-TYPE>                                        9-MOS
<FISCAL-YEAR-END>                                    MAR-31-1997
<PERIOD-END>                                         DEC-31-1996
<CASH>                                               426,097
<SECURITIES>                                         1,359,721
<RECEIVABLES>                                        000
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     19,258
<PP&E>                                               000
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       29,943,845<F1>
<CURRENT-LIABILITIES>                                166,154<F2>
<BONDS>                                              000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<COMMON>                                             000
<OTHER-SE>                                           29,777,691
<TOTAL-LIABILITY-AND-EQUITY>                         29,943,845
<SALES>                                              000
<TOTAL-REVENUES>                                     57,387<F3>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     306,969<F4>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   000
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         (1,388,692)<F5>
<EPS-PRIMARY>                                        (37.67)
<EPS-DILUTED>                                        000
<FN>
<F1>Included  in  total  assets:   Investments  in  Local  Limited  Partnerships
$27,621,713   Restricted  cash  $495,389,   Organizational  costs,  net  $21,667
<F2>Current  liabilities  include  Accounts payable to affiliate of $137,420 and
Accrued expenses of $28,734.
<F3>Total revenue includes: Investment $40,245 and Other $17,142.
<F4>Included  in Other  Expenses:  Asset  Management  fees  $144,026,  General  and  Administrative  $139,015,  and
Amortization $23,928.
<F5>Net loss includes:  Equity in losses of Local Limited Partnerships of $1,139,110.
</FN>