<ARTICLE>                  5
       
                                                  
<PERIOD-TYPE>                                        3-MOS
<FISCAL-YEAR-END>                                    MAR-31-1999
<PERIOD-END>                                         JUN-30-1998
<CASH>                                               129,437
<SECURITIES>                                         1,596,188
<RECEIVABLES>                                        000
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     000
<PP&E>                                               000
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       19,115,144<F1>
<CURRENT-LIABILITIES>                                000
<BONDS>                                              000
<COMMON>                                             000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<OTHER-SE>                                           17,688,078
<TOTAL-LIABILITY-AND-EQUITY>                         19,115,144<F2>
<SALES>                                              000
<TOTAL-REVENUES>                                     52,342<F3>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     98,584<F4>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   000
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         (329,722)<F5>
<EPS-PRIMARY>                                        (9.57)
<EPS-DILUTED>                                        000
<FN>
<F1>Included in Total Assets is Other assets  $25,438,  Investments in Local Limited  Partnerships  $15,903,801 and
Other investments $1,460,280.
<F2>Included in Total Liability and Equity is Accounts  payable to affiliates  $1,076,972 and Accounts  payable and
accrued expenses $350,094.
<F3>Total Revenues includes Investment $23,011, Accretion of Original Issue Discount $27,905 and Other $1,426.
<F4>Included  in Other  Expenses  is Asset  Management  fees  $42,040,  General  and  Administrative  $49,329,  and
Amortization $7,215.
<F5>Net Loss reflects:  Equity in losses of Local Limited Partnerships $283,480.
</FN>