<ARTICLE>                  5
       
                                                  
<PERIOD-TYPE>                                        9-MOS
<FISCAL-YEAR-END>                                    MAR-31-1997
<PERIOD-END>                                         DEC-31-1996
<CASH>                                               378,569
<SECURITIES>                                         1,079,478
<RECEIVABLES>                                        23,259
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     268,151<F1>
<PP&E>                                               16,201,490
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       39,022,830<F2>
<CURRENT-LIABILITIES>                                5,029,689<F3>
<BONDS>                                              000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<COMMON>                                             000
<OTHER-SE>                                           23,673,595
<TOTAL-LIABILITY-AND-EQUITY>                         39,022,830<F4>
<SALES>                                              000
<TOTAL-REVENUES>                                     1,527,408<F5>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     2,285,147<F6>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   803,624
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         (3,100,244)<F7>
<EPS-PRIMARY>                                        (45.11)
<EPS-DILUTED>                                        000
<FN>
<F1>Included  in current assets:  Mortgagee  escrow  deposits  $135,965,  Tenant
security  deposits  $89,406 and Other current assets  $42,780.  
<F2>Included  in total assets:  Investments in Local Limited Partnerships  
$20,862,051,  Deferred charges, net $209,832. 
<F3>Included in Current Liabilities:  Accounts payable to affiliates  $293,746,  
Accounts payable and accrued expenses  $433,401,  Current portion of debt  
$3,591,709,  Interest  payable of $620,811 and Tenant  security deposits  
payable of  $90,022.  
<F4>Included  in Total  Liabilities  and Equity: Payable to affiliated developer  
$2,482,000,  $7,483,918 of long-term  debt and Minority  interest in Local 
Limited  Partnerships  $353,628.  
<F5>Total  revenue includes: Rental $1,334,813, Investment $71,936, 
Other $120,659. 
<F6>Included in Other Expenses:  Asset  management  fees,  related party  
$193,029, General and administrative $261,054, Bad debt $254,331, Property 
management fees $97,069, Rental operations, exclusive of depreciation $823,786, 
Depreciation $568,790 and Amortization $87,088.  
<F7>Net loss reflects:  Equity in losses of Local Limited Partnerships of 
$1,606,673 and Minority interest in losses of Local Limited Partnerships 
$67,792. 
</FN>