AGREEMENT OF JOINT FILING -------------------------

                                                                EXHIBIT 7.4

                           AGREEMENT OF JOINT FILING
                           -------------------------

         Insignia Properties, L.P., Insignia Properties Trust, DGP Acquisition,
L.L.C., Insignia Financial Group, Inc., IB Holding, Inc., and Xxxxxx X. Xxxxxx
agree that the Statement on Schedule 13D to which this Agreement is attached as
an exhibit, and all future amendments to the Statement, shall be filed on behalf
of each of them. This Agreement is intended to satisfy the requirements of Rule
13d-1(f)(1)(iii) under the Securities Exchange Act of 1934, as amended. This
Agreement may be executed in any number of counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
instrument. 

Dated: July 7, 1997


                                     INSIGNIA PROPERTIES, L.P.

                                     By:     Insignia Properties Trust, its
                                             General Partner



                                     By:     /s/ Xxxxxxx X. Xxxxx
                                        --------------------------------------
                                             Xxxxxxx X. Xxxxx
                                             Vice President


                                     INSIGNIA PROPERTIES TRUST



                                     By:     /s/ Xxxxxxx X. Xxxxx
                                        --------------------------------------
                                             Xxxxxxx X. Xxxxx
                                             Vice President







                                     DGP ACQUISITION, L.L.C.

                                     By:     Insignia Properties, L.P., its
                                             sole Member

                                     By:     Insignia Properties Trust, its
                                             General Partner


                                     By:     /s/ Xxxxxxx X. Xxxxx
                                        --------------------------------------
                                             Xxxxxxx X. Xxxxx
                                             Vice President


                                     INSIGNIA FINANCIAL GROUP, INC.



                                     By:     /s/ Xxxxxxx X. Xxxxx
                                        --------------------------------------
                                             Xxxxxxx X. Xxxxx
                                             Senior Vice President


                                     IB HOLDING, INC.



                                     By:     /s/ Xxxxxxx X. Xxxxxxxx
                                        --------------------------------------
                                             Xxxxxxx X. Xxxxxxxx
                                             President





                                     /s/ Xxxxxx X. Xxxxxx
                                     -----------------------------------------
                                     Xxxxxx X. Xxxxxx