<ARTICLE>                  5
       
                                                  
<PERIOD-TYPE>                                        6-MOS
<FISCAL-YEAR-END>                                    MAR-31-1997
<PERIOD-END>                                         SEP-30-1996
<CASH>                                               511,978
<SECURITIES>                                         1,228,826
<RECEIVABLES>                                        000
<ALLOWANCES>                                         000
<INVENTORY>                                          000
<CURRENT-ASSETS>                                     15,609
<PP&E>                                               000
<DEPRECIATION>                                       000
<TOTAL-ASSETS>                                       30,250,607<F1>
<CURRENT-LIABILITIES>                                111,349
<BONDS>                                              000
<PREFERRED-MANDATORY>                                000
<PREFERRED>                                          000
<COMMON>                                             000
<OTHER-SE>                                           30,139,258
<TOTAL-LIABILITY-AND-EQUITY>                         30,250,607
<SALES>                                              000
<TOTAL-REVENUES>                                     39,783<F2>
<CGS>                                                000
<TOTAL-COSTS>                                        000
<OTHER-EXPENSES>                                     221,195<F3>
<LOSS-PROVISION>                                     000
<INTEREST-EXPENSE>                                   000
<INCOME-PRETAX>                                      000
<INCOME-TAX>                                         000
<INCOME-CONTINUING>                                  000
<DISCONTINUED>                                       000
<EXTRAORDINARY>                                      000
<CHANGES>                                            000
<NET-INCOME>                                         (1,028,116)<F4>
<EPS-PRIMARY>                                        (27.88)
<EPS-DILUTED>                                        000
<FN>
<F1>Included  in total assets:  Investments in Local Limited  Partnerships  $27,980,029,  Restricted cash $489,998,
Organizational costs, net $24,167
<F2>Total revenue includes: Investment $41,652 and Other $(1,869).
<F3>Included  in  Other  Expenses:  Asset  Management  fees  $96,002,  General  and  Administrative  $109,239,  and
Amortization $15,954.
<F4>Net loss includes:  Equity in losses of Local Limited Partnerships of $846,704.
</FN>