<ARTICLE>                  5

                                                  
<PERIOD-TYPE>                                        6-MOS
<FISCAL-YEAR-END>                                    MAR-31-2000
<PERIOD-END>                                         SEP-30-1999
<CASH>                                               291,040
<SECURITIES>                                         2,574,918
<RECEIVABLES>                                        000
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     000
<PP&E>                                               766,376
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       23,984,220<F1>
<CURRENT-LIABILITIES>                                000
<BONDS>                                              000
<COMMON>                                             000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<OTHER-SE>                                           22,956,573
<TOTAL-LIABILITY-AND-EQUITY>                         23,984,220<F2>
<SALES>                                              000
<TOTAL-REVENUES>                                     183,073<F3>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     539,325<F4>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   35,314
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         (1,418,227)<F5>
<EPS-BASIC>                                        (20.37)
<EPS-DILUTED>                                        000
<FN>
<F1>Included  in Total  assets  is Tenant  security  deposit  escrow of  $3,788,
Investments in Local Limited  Partnerships,  of  $20,308,991,  Prepaid assets of
$1,489,  Replacement  reserve  escrow of $9,246  and  Other  assets of  $28,372.
<F2>Included in Total liability and equity is Accounts  payable to affiliates of
$16,795, Accounts payable and accrued expenses of $57,207, Mortgage note payable
of $705,329,  Tenant security  deposits  payable of $3,742,  Deferred revenue of
$127,686  and  Minority  interest in Local  Limited  Partnerships  of  $116,888.
<F3>Included  in Total revenue is Rental of $60,116,  and  Investment of $78,655
and  Other  of  $44,302.   <F4>Included   in  Other   expenses  is  General  and
administrative of $194,575, Bad debt expense of $173,739,  Asset management fees
of  $122,997,   Rental   operations,   exclusive  of  depreciation  of  $22,052,
Depreciation of $13,551 and Amortization of $12,411. <F5>Included in Net loss is
Minority interest in losses of Local Limited  Partnership of $(98) and Equity in
losses of Local Limited Partnerships of $1,026,759.
</FN>