<ARTICLE>                  5
       
                                                  
<PERIOD-TYPE>                                        9-MOS
<FISCAL-YEAR-END>                                    MAR-31-1998
<PERIOD-END>                                         DEC-31-1997
<CASH>                                               321,550
<SECURITIES>                                         1,391,210
<RECEIVABLES>                                        000
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     000
<PP&E>                                               000
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       27,479,966<F1>
<CURRENT-LIABILITIES>                                000
<BONDS>                                              000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<COMMON>                                             000
<OTHER-SE>                                           27,238,665
<TOTAL-LIABILITY-AND-EQUITY>                         27,479,966<F2>
<SALES>                                              000
<TOTAL-REVENUES>                                     83,784<F3>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     301,841<F4>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   000
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         (1,679,588)<F5>
<EPS-PRIMARY>                                        (45.56)
<EPS-DILUTED>                                        000
<FN>
<F1>Included  in total assets is  Investments in Local Limited  Partnerships  of
$25,728,914,  Organizational  costs, net of $11,667 and Other assets of $26,625.
<F2>Total  liability  and  equity  includes  Accounts  payable to  affiliate  of
$211,247 and Accrued expenses of $30,054.
<F3>Total revenue includes Investment of $79,099 and Other of $4,685.
<F4>Included  in Other  Expenses  is Asset  Management  fees,  related  party of
$148,827,  General and administrative of $123,056,  and Amortization of $29,958.
<F5>Net  loss  includes  Equity  in  losses  of Local  Limited  Partnerships  of
$1,461,531.
</FN>