UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
     Washington, D.C. 20549


            FORM 10-K

(Mark One)

ANNUAL REPORT PURSUANT TO SECTION 13 OR
15(d) OF THE SECURITIES EXCHANGE ACT OF
1934 [NO FEE REQUIRED]

    For the fiscal year ended
December 31, 1997

               OR

TRANSITION REPORT PURSUANT TO SECTION 13
OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934 [NO FEE REQUIRED]

    For the transition period from
           to
    Commission file number
0-11987

Krupp Realty Limited Partnership-IV
(Exact name of registrant as specified in its
charter)

    Massachusetts
    04-2772783
(State or other jurisdiction of
      (IRS Employer
incorporation or organization)
      Identification No.)

470 Atlantic Avenue, Boston, Massachusetts
              02210
(Address of principal executive offices)
                (Zip Code)

(Registrant's telephone number, including area
code)             (617) 423-2233

Securities registered pursuant to Section
12(b) of the Act:  None

Securities registered pursuant to Section
12(g) of the Act:  Units of Investor

 Limited Partner

 Interest

Indicate by check mark whether the registrant
(1) has filed all reports required to be filed
by Section 13 or 15(d) of the Securities
Exchange Act of 1934 during the preceding 12
months (or for such shorter period that the
registrant was required to file such reports),
and (2) has been subject to such filing
requirements for the past 90 days.  Yes   X
No

Indicate by check mark if disclosure of
delinquent filers pursuant to Item 405 of
Regulation S-K is not contained herein, and
will not be contained, to the best of
registrant's knowledge, in definitive proxy or
information statements incorporated by
reference in Part III of this Form 10-K or any
amendment to this Form 10-K. [ ].

Aggregate market value of voting securities
held by non-affiliates:  Not applicable.

Documents incorporated by reference:  Part IV,
Item 14

The exhibit index is located on pages 9-12.

The total number of pages in this document is
28.<PAGE>
             PART I

                                This
Form 10-K contains forward-looking statements
within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934.  Actual
results could differ materially from those
projected in the forward-looking statements as
a result of a number of factors, including
those identified herein.

ITEM 1.BUSINESS

Krupp Realty Limited Partnership-IV ("KRLP-
IV") was formed on December 1, 1982 by filing
a Certificate of Limited Partnership in The
Commonwealth of Massachusetts.  The Krupp
Corporation, a Massachusetts corporation, and
The Krupp Company Limited Partnership-II, a
Massachusetts limited partnership, are the
General Partners of KRLP-IV.  KRLP-IV has also
issued all of the Original Limited Partner
Interests to The Krupp Company Limited
Partnership-II.  On January 18, 1983, KRLP-IV
commenced the offering of up to 30,000 units
of Investor Limited Partner Interests (the
"Units").  As of March 31, 1983, KRLP-IV
received subscriptions for all 30,000 Units at
$1,000 per Unit and therefore, the public
offering was successfully completed on that
date.  For details, see Note A to Consolidated
Financial Statements included in Item 8
(Appendix A) of this report.

The primary business of KRLP-IV is to acquire,
operate and ultimately dispose of real estate.
KRLP-IV initially acquired six multi-family
apartment complexes (Copper Creek, Walden Pond
(formerly Westbridge), Indian Run, Fenland
Field, Pavillion and Tilbury Woods
Apartments), a retail center (Lakeview Plaza)
and invested in a joint venture in Lakeview
Tower (the "Joint Venture") with an affiliated
limited partnership.  KRLP-IV considers itself
to be engaged only in the industry segment of
investment in real estate.

KRLP-IV sold Lakeview Plaza and Tilbury Woods
Apartments in 1990 and 1991, respectively.
Additionally, KRLP-IV received a terminating
capital distribution from the Joint Venture
with proceeds from the sale of Lakeview Tower
in 1992.  In 1990, the General Partners formed
three limited partnerships:  Pavillion
Partners, Ltd., Copper Creek Partners, Ltd.
and Westbridge Partners, Ltd.  At the same
time, the General Partners transferred
ownership of Pavillion Apartments to Pavillion
Partners, Ltd., Copper Creek Apartments to
Copper Creek Partners, Ltd., and Walden Pond
Apartments to Westbridge Partners, Ltd. in
exchange for a 99% Limited Partner Interest in
the new entities.  Westcop Corporation, an
affiliate of KRLP-IV, contributed a total of
$11,216 in exchange for a 1% General Partner
Interest in the new entities.  KRLP-IV,
Pavillion Partners, Ltd., Copper Creek
Partners, Ltd. and Westbridge Partners, Ltd.,
are collectively known as Krupp Realty Limited
Partnership-IV and Subsidiaries (collectively
referred to herein as the "Partnership").  The
Partnership endeavored to renegotiate the debt
on these properties, the negotiations were
unsuccessful and these partnerships
subsequently petitioned for relief under
federal bankruptcy laws.

The Partnership's real estate investments are
subject to some seasonal fluctuations
resulting from changes in utility consumption
and seasonal maintenance expenditures.
However, the future performance of the
Partnership will depend upon factors which
cannot be predicted.  Such factors include
general economic and real estate market
conditions, both on a national basis and in
those areas where the Partnership's real
estate investments are located, the
availability and cost of borrowed funds, real
estate tax rates, operating expenses, energy
costs, government regulations and federal and
state income tax laws.  The requirements for
compliance with federal, state and local
regulations to date have not had an adverse
effect on the Partnership's operations, and no
adverse effect therefrom is anticipated in the
future.

The Partnership's investments in real estate
are also subject to such risks as (i)
competition from existing and future projects
held by other owners in the locations of the
Partnership's properties, (ii)  possible
reduction in rental income due to an inability
to maintain high occupancy levels, (iii)
possible adverse changes in mortgage interest
rates, (iv)  possible adverse changes in
general economic and local conditions, such as
competitive over-building, increases in
unemployment, or adverse changes in real
estate zoning laws, (v) the possible future
adoption of rent control legislation which
would not permit the full amount of increased
costs to be passed on to tenants in the form
of rent increases, and (vi) other
circumstances over which the Partnership may
have little or no control.

As of December 31, 1997, the Partnership did
not employ any personnel.

ITEM 2.
PROPERTIES

As of December 31, 1997, the Partnership had
an aggregate of 1,256 apartment units.

A summary of the Partnership's multi-family
real estate investments is presented below.
Schedule III included in Item 8 (Appendix A)
to this report contains additional detailed
information with respect to individual
properties.
<TABLE>
<CAPTION>
                       Average Occupancy
                      For the Years Ended
     Year of              December 31,
Description       Acquisition Total Units199719961995 19941993

<S>                       <C>     <C>  <C>       <C>  <C><C> <C>
Fenland Field Apartments  1983    234  100%      98%  95%94% 90%
Columbia, Maryland

Indian Run Apartments    1983    256    96%      96%  93%95% 96%
Abilene, Texas

Pavillion Apartments   1983     350     95%      95%  94%93% 90%
Garland, Texas

Walden Pond Apartments   1983    416    98%     95% 93%  97% 92%
Houston, Texas
                              1,256 Units
</TABLE>
ITEM 3.           LEGAL PROCEEDINGS

 There are no material pending legal proceedings to which the
Partnership is a party or to which any of its property is the
subject.

ITEM 4.           SUBMISSION OF MATTERS TO A VOTE OF SECURITY
HOLDERS

 None.

<PAGE>
                          PART II


ITEM 5.MARKET FOR THE REGISTRANT'S
       COMMON EQUITY AND RELATED
       STOCKHOLDER MATTERS

The transfer of Units of Limited Partner
Interest is subject to certain limitations
contained in the Partnership Agreement.  There
is no public market for the Units and it is
not anticipated that any such public market
will develop.

The number of Investor Limited Partners as of
December 31, 1997 was approximately 1,900.

The Partnership made the following
distributions to its Partners during the years
ended December 31, 1997 and 1996:

<TABLE>
<CAPTION>
                               Year Ended December 31,

                              1997              1996
                        Amount  Per Unit    Amount Per Unit
Limited Partners:

Investor Limited Partners
   (30,000 Units
   <S>                <C>        <C>      <C>         <C>
   outstanding)       $1,119,903 $37.33   $2,419,804  $80.66

Original Limited Partner  47,158              47,158

General Partners          11,790                      24,920

                      $1,178,851                  $2,491,882
</TABLE>

Due to improvements in the operations of the
properties and the availability of cash flow,
the General Partners reinstated distributions
in August, 1994, at a rate of $4.67 per Unit.
In 1995 and 1996, the annual distribution
rates were  increased to $28.00 and $37.33 per
Unit, respectively.  These semiannual
distributions continued in 1997 at an
annualized rate of $37.33 per Unit.
Additionally, the Partnership made special
distributions to the General Partners and
Investor Limited Partners during the second
quarter of 1996 with the funds received from
the sale of Lakeview Tower Apartments in 1992.
Pursuant to the Partnership Agreement,
distributions from capital transactions, such
as the sale of Lakeview Tower, are allocated
99% to Investor Limited Partners and 1% to the
General Partners.  For details, see Note E to
Consolidated Financial Statements included in
Item 8 (Appendix A) of this report.
<PAGE>
ITEM 6. SELECTED FINANCIAL DATA

The following table sets forth selected
financial information regarding the
Partnership's financial position and operating
results.  This information should be read in
conjunction with Management's Discussion and
Analysis of Financial Condition and Results of
Operations and the Financial Statements and
Supplementary Data, which are included in
Items 7 and 8 of this report, respectively.
<TABLE>
<CAPTION>
                 1997      1996         1995      1994        1993

<S>           <C>        <C>        <C>        <C>         <C>
Total revenue $7,721,285 $7,307,643 $7,108,711 $6,810,441  $6,228,685

Net income (loss)  157,116   (156,880)   (21,628)   (488,936) (1,468,566)

Net income (loss)
allocated to:

Investor Limited
  Partners       149,260  (149,036)   (20,547)   (464,489) (1,395,137)
       Per Unit     4.98     (4.97)      (.68)      (15.48)     (46.50)

Original Limited
  Partner          6,285   (6,275)      (865)      (19,558)    (58,743)

General Partners  1,571       (1,569)   (216)       (4,889)    (14,686)

Total assets at
December 31   16,718,318   17,605,712 20,887,877 22,305,143 24,218,655

Long-term
obligations at
December 31   19,544,471  19,429,196 20,193,607 20,939,499 22,180,186

Distributions:

Investor Limited
  Partners     1,119,903  2,419,804    839,859    140,003        -
     Per Unit      37.33      80.66      28.00       4.67        -

Original Limited
  Partner         47,158    47,158     35,362        5,895       -

General
  Partners        11,790    24,920      8,841        1,474       -
</TABLE>

Prior performance of the Partnership is not necessarily indicative
of future operations.

















ITEM 7.MANAGEMENT'S DISCUSSION AND
       ANALYSIS OF FINANCIAL CONDITIONS
       AND RESULTS OF OPERATIONS

This Management's Discussion and Analysis of
Financial Condition and Results of Operations
contains forward-looking statements including
those concerning Management's expectations
regarding the future financial performance and
future events.  These forward-looking statements
involve significant risk and uncertainties,
including those described herein.  Actual
results may differ materially from those
anticipated by such forward-looking statements.

Liquidity and Capital Resources

The Partnership's ability to generate cash
adequate to meet its needs is dependent
primarily upon the operations of its remaining
real estate investments.  Such ability would
also be impacted by the future availability of
bank borrowings, and upon the future refinancing
and sale of the Partnership's real estate
investments.  These sources of liquidity will be
used by the Partnership for payment of expenses
related to real estate operations, capital
improvements, debt service and other expenses.
Cash Flow, if any, as calculated under Section
8.2(a) of the Partnership Agreement, will then
be available for distribution to the Partners.

The Partnership funded approximately $1,500,000
of capital improvements at the properties in
1997 for appliances, carpeting, paving and other
exterior building improvements.  The Partnership
expects to spend approximately $1,146,000 for
capital improvements in 1998 consisting of
internal and external enhancements which include
the replacement of appliances, carpeting and
vinyl flooring at the properties as well as
extensive building exterior improvements at
Pavillion Apartments.  The Partnership expects
to fund these improvements from established
reserves and proceeds from the additional note,
as discussed below.

Due to improvements in the operations of the
properties and reduced debt service, the
Partnership had sufficient cash flow in 1994 to
reinstate distributions at a rate of $4.67 per
Unit.  The annual distribution rate was
increased to $28.00 per Unit in 1995 and to
$37.33 per Unit in 1996, the Partnership's
current distribution rate.  In addition, the
Partnership made a special distribution of
$1,313,031, $43.33 per Unit, during the second
quarter of 1996 based on the remaining proceeds
from the sale of Lakeview Tower in 1992.
Distributions of net cash proceeds from capital
transactions are allocated in accordance with
the Partnership Agreement (as described in Note
E to the Consolidated Financial Statements
included in Item 8 (Appendix A) of this report).

The General Partners, on an ongoing basis,
assess the current and future liquidity needs in
determining the levels of working capital
reserves the Partnership should maintain.
Adjustments to distributions are made when
appropriate to reflect such assessments.

On July 31, 1997, the General Partners obtained
an additional $900,000 note for Walden Pond
Apartments.  The note bears interest at a rate
of 9.5% per annum and matures on February 28,
1999, simultaneous with the first mortgage note.
The proceeds from the note were placed in escrow
and will be used to fund capital improvements at
the property.  The Partnership paid closing
costs of $33,082 to secure the note.  (For
further details, see Note D to Consolidated
Financial Statements included in Item 8
(Appendix A) of this report.)

Operations


1997 compared to 1996

Net income increased in 1997 as compared to
1996, as the increase in revenue more than
offset the increase in expenses.  Rental revenue
increased as a result of rental rate increases
implemented at all the Partnership's properties,
as well as improved average occupancy rates at
two properties in 1997 as compared to 1996.
This increase was slightly offset by a decrease
in other income due to lower average cash
balances available for investment.

Total expenses, including general and
administrative, management fees and
depreciation, increased in 1997 as compared to
1996.  General and administrative expense
increased as a result of legal, mailing and
printing costs related to the Partnership's
response to the unsolicited tender offers to
purchase Partnership Units.  In addition,
expenses related to the preparation and mailing
of Partnership reports and other investor
communications increased.  Management fees
increased in conjunction with higher revenues,
as discussed above. Depreciation expense
increased as a result of continued capital
improvements at all the Partnership's
properties.  These increases were partially
offset by a decrease in maintenance expense as
a result of extensive parking lot repairs and
building exterior expenditures completed in 1996
at Indian Run and Pavillion Apartments.

1996 compared to 1995

Net income decreased in 1996 as compared to
1995, as an increase in expenses more than
offset an increase in revenue.  Increased rental
rates at the Partnership's properties were
instituted at the end of 1995 and the beginning
of 1996.  This increase, as well as overall
increased average occupancy rates, resulted in
the increase in rental revenue in 1996 when
compared to 1995.  Other income decreased due to
lower interest income earned on short-term
investments as average cash balances decreased
when compared to 1995.

Total expenses, including operating, maintenance
and real estate taxes, increased in 1996 as
compared to 1995.  The rise in operating expense
was attributable to increases in payroll,
utility, advertising and leasing expenses.
Payroll was affected by a worker's compensation
insurance refund received by the Partnership's
properties in 1995.  Additionally, severe
weather contributed to the rise in operating
expense, as utility expense increased with
higher consumption levels.  The additional
consumption was also a direct result of
increased occupancy at Pavillion, Walden Pond
and Fenland Field as the Partnership's
advertising and leasing efforts were successful
in 1996.  Maintenance expense increased due to
external wall repairs at Indian Run, paving,
landscaping and stairway repairs at both Indian
Run and Walden Pond, and snow removal
expenditures at Fenland Field.  Real estate
taxes increased due to increases in the assessed
values of Indian Run and Pavillion.  General and
administrative expense decreased as a result of
costs incurred in 1995 associated with obtaining
appraisals of the Partnership's properties.

ITEM 8.FINANCIAL STATEMENTS AND SUPPLEMENTARY
DATA

See Appendix A to this report.

ITEM 9.CHANGES IN AND DISAGREEMENTS WITH
ACCOUNTANTS ON ACCOUNTING AND FINANCIAL
DISCLOSURE
                                     None.















                            PART III

ITEM 10.DIRECTORS AND EXECUTIVE OFFICERS OF THE
REGISTRANT

The Partnership has no directors or executive
officers.  Information as to the directors and
executive officers of The Krupp Corporation,
which is a General Partner of both KRLP-IV and
The Krupp Company Limited Partnership-II, the
other General Partner of KRLP-IV, is as follows:

     Position with
    Name and Age              The Krupp Corporation

    Douglas Krupp (51)        President and Co-Chairman of the Board

    George Krupp (53)         Co-Chairman of the Board
                              Wayne H. Zarozny (39)       Treasurer

Douglas Krupp is Co-Chairman and Co-Founder of
The Berkshire Group.  Established in 1969 as the
Krupp Companies, this real estate-based firm
expanded over the years within its areas of
expertise including investment program
sponsorship, property and asset management,
mortgage banking, health care facility ownership
and the management of the company.  Mr. Krupp is
a graduate of Bryant College.  In 1989 he
received an honorary Doctor of Science in
Business Administration from this institution
and was elected trustee in 1990. Mr. Krupp is
Chairman of the Board and a Director of both
Berkshire Realty Company, Inc. (NYSE-BRI) and
Harborside Health care (NYSE-HBR).  Mr. Krupp
also serves as Chairman of the Board and Trustee
of Krupp Government Income Trust and as Chairman
of the Board and Trustee of Krupp Government
Income Trust II.  George Krupp is Douglas
Krupp's brother.

George Krupp is the Co-Chairman and Co-Founder
of The Berkshire Group.  Established in 1969 as
the Krupp Companies, this real estate-based firm
expanded over the years within its areas of
expertise including investment program
sponsorship, property and asset management,
mortgage banking and healthcare facility
ownership.  Mr. Krupp received his undergraduate
education from the University of Pennsylvania
and Harvard University Extension School, and
holds a Master's degree in history from Brown
University.

Wayne H. Zarozny is Vice President of The
Berkshire Group.  Mr. Zarozny has held several
positions within The Berkshire Group since
joining the company in 1986 and is currently
responsible for accounting and financial
reporting, treasury, accounts payable and
payroll activities.  Prior to joining The
Berkshire Group, he was an audit supervisor for
Pannell Kerr Forster International and on the
audit staff of Deloitte, Haskins and Sells in
Boston.  He received a B.S. degree from Bryant
College, a Master's degree in Business
Administration from Clark University and is a
Certified Public Accountant.

ITEM 11.EXECUTIVE COMPENSATION

The Partnership has no directors or executive officers.

ITEM 12.SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

As of December 31, 1997, beneficial owners of
record owning more than 5% of the Partnership's
30,000 outstanding Units were as follows:

 Title        Name and Address   Amount and Nature   Percent
  of                 of                 of            of
 Class        Beneficial Owner       Beneficial Ownership Class

   Investor Equity Resource Fund
   Limited     XVII LP
Partner     14 Story Street
 Units      Cambridge, MA 02138         894.5 Units     3.0%

Investor    Equity Resource Fund
   Limited     XVI LP
Partner     14 Story Street
 Units      Cambridge, MA 02138         419   Units     1.4%

Investor    Equity Resource Fund
   Limited     XIX LP
Partner     14 Story Street
 Units      Cambridge, MA 02138         211   Units     0.7%

Investor    Equity Resource
   Limited     Cambridge Fund LP
Partner     14 Story Street
 Units      Cambridge, MA 02138         160   Units     0.5%

Investor    Equity Resource
   Limited     General Fund LP
Partner     14 Story Street
 Units      Cambridge, MA 02138                 20   Units    0.1%

            Total                   1,704.50   Units    5.7%


The only interests held by management or its affiliates consist of its
General Partner and Original Limited Partner Interests.

ITEM 13.    CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

The Partnership does not have any directors, executive officers or
nominees for election as director.

                             PART IV

ITEM 14.    EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM
8-K

(a) 1.
Consolidated Financial Statements - see Index to Consolidated Financial
Statements and Schedule included under Item 8 (Appendix A), on page F-2
of this Report.

    2.
Consolidated Financial Statement Schedule - see Index to
Consolidated Financial Statements and Schedule included under Item 8
(Appendix A), on page F-2 of this Report.  All other schedules are
omitted as they are not applicable or not required or the information
is provided in the Consolidated Financial Statements or the Notes
thereto.






(b)    Exhibits:

   Number and Description Under Regulation S-K

   The following reflects all applicable Exhibits required under
Item  601 of Regulation S-K:

   (4)  Instruments defining the rights of security holders including
        indentures:

         (4.1)
Amended Agreement of Limited Partnership dated as of
January 12, 1983 [Exhibit A to Prospectus included in Registrant's
Registration Statement on Form S-11 (File 2-80650)].*

         (4.2)
Amended Certificate of Limited Partnership filed with the Massachusetts
Secretary of State on  March 31, 1983  [Exhibit 4.2 to Registrant's
Annual Report on Form 10-K dated December 31, 1983 (File No.
2-80650)].*

  (10)  Material Contracts

        Fenland Field Apartments

        (10.1)
Management Agreement dated December 19, 1986 between
Krupp Realty Limited Partnership-IV, as Owner, and BRI OP Limited
Partnership, formerly known as Berkshire Property Management, a
subsidiary of Berkshire Realty Company, Inc. [Exhibit 10.3 to
Registrant's Annual Report on Form 10-K dated December 31, 1986 (File
No. 0-11987)].*

        (10.2)
Modification and Restatement of Promissory Note dated April 28, 1993
between Krupp Realty Limited Partnership-IV and John Hancock Mutual
Life Insurance Company [Exhibit 10.2 to Registrant's Annual Report on
Form 10-K dated December 31, 1993 (File No. 0-11987)].*

        (10.3)
Modification and Restatement of Indemnity Deed of Trust and Security
Agreement dated April 28, 1993 between Krupp Realty Limited
Partnership-IV and John Hancock Mutual Life Insurance Company [Exhibit
10.3 to Registrant's Annual Report on Form 10-K dated December 31, 1993
(File No. 0-11987)].*

        Indian Run Apartments

        (10.4)
Management Agreement dated June 2, 1983 between Krupp Realty Limited
Partnership-IV, as Owner, and BRI OP Limited Partnership, formerly
known as Berkshire Property Management, a subsidiary of Berkshire
Realty Company, Inc. [Exhibit 10.16 to Registrant's Annual Report on
Form 10-K dated December 31, 1983 (File No. 2-80650)].*
        (10.5)
Multifamily Note, dated October 25, 1994 between Bank United of Texas
FSB and Krupp Realty Limited Partnership-IV, a Massachusetts limited
partnership. (File No. 0-11987).*

        (10.6)
Multifamily Deed of Trust, dated October 25, 1994 by Krupp Realty
Limited Partnership-IV, a Massachusetts limited partnership and
Randolph C. Henson, as Trustee, and Bank United of Texas FSB. (File No.
0-11987).*





        Walden Pond Apartments

        (10.7)
Management Agreement dated June 2, 1983 between Krupp Realty Limited
Partnership-IV, as Owner, and BRI OP Limited Partnership, formerly
known as Berkshire Property Management, a subsidiary of Berkshire
Realty Company, Inc. [Exhibit 10.19 to Registrant's Annual Report on
Form 10-K dated December 31, 1983 (File No. 2-80650)].*

        (10.8)
Certificate of Limited Partnership of Westbridge Partners, Ltd.,
executed March 1, 1990. [Exhibit 19.9 to Registrant's Report on Form
10-Q dated June 30, 1990 (File No. 0-11987)].*

        (10.9)
Westbridge Partners, Ltd. Agreement of Limited Partnership executed
March 1, 1990. [Exhibit 20.1 to Registrant's Report on Form 10-Q dated
June 30, 1990 (File No. 0-11987)].*

        (10.10)
Bill of Sale Agreement between Krupp Realty Limited Partnership-IV and
Westbridge Partners, Ltd., executed March 1, 1990.  [Exhibit 20.2 to
Registrant's Report on Form 10-Q dated June 30, 1990 (File No. 0-
11987)].*

       (10.11)
Westbridge Partners, Ltd. First Amendment to Agreement of Limited
Partnership, executed April 9, 1990.  [Exhibit 20.3 to Registrant's
Report on Form 10-Q dated June 30, 1990 (File No. 0-11987)].*

       (10.12)
Order Granting Motion of First Boston Mortgage Capital Corp. for Relief
from the Automatic Stay dated January 28, 1992. [Exhibit C to
Registrant's Report on Form 8-K dated March 3, 1992 (File No. 0-
11987)].*

       (10.13)
Modification Agreement dated February 28, 1992 between Westbridge
Partners, Ltd. and University Mortgage Acquisition Corp. [Exhibit 10.14
to Registrant's Annual Report on Form 10-K dated December 31, 1993
(File No. 0-11987)].*

       (10.14)
Renewal Multifamily Note dated February 28, 1992 between Westbridge
Partners, Ltd. and University Mortgage Acquisition Corp. [Exhibit 10.15
to Registrant's Annual Report on Form 10-K dated December 31, 1993
(File No. 0-11987)].*

       (10.15)
Renewal Multifamily Deed of Trust, Assignment of Rents and Security
Agreement dated February 28, 1992 by Westbridge Partners, Ltd. and John
M. Walker, Jr., as Trustee, and University Mortgage Acquisition Corp.
[Exhibit 10.16 to Registrant's Annual Report on Form 10-K dated
December 31, 1993 (File No. 0-11987)].*

       Pavillion Apartments

       (10.16)
Management Agreement dated June 2, 1983 between Krupp Realty Limited
Partnership-IV, as Owner, and BRI OP Limited Partnership, formerly
known as Berkshire Property Management, a subsidiary of Berkshire
Realty Company, Inc. [Exhibit 10.25 to Registrant's Annual Report on
Form 10-K dated December 31, 1983 (File No. 2-80650)].*

       (10.17)
Certificate of Limited Partnership of Pavillion Partners, Ltd.,
executed March 1, 1990.  [Exhibit 19.1 to Registrant's Report on Form
10-Q dated June 30, 1990 (File No. 0-11987)].*

       (10.18)
Pavillion Partners, Ltd. Agreement of Limited Partnership executed
March 1, 1990.  [Exhibit 19.2 to Registrant's Report on Form 10-Q dated
June 30, 1990 (File No. 0-11987)].*

       (10.19)
Bill of Sale Agreement between Krupp Realty Limited Partnership-IV and
Pavillion Partners, Ltd., executed March  1, 1990.  [Exhibit 19.3 to
Registrant's Report on Form 10-Q dated June 30, 1990 (File No. 0-
11987)].*

       (10.20)
Pavillion Partners, Ltd. First Amendment to Agreement of Limited
Partnership, executed April 9, 1990. [Exhibit 19.4 to Registrant's
Report on Form 10-Q dated June 30, 1990 (File No. 0-11987)].*

       (10.21)
Pavillion Partners, Ltd. Chapter 11 Voluntary Petition executed June
4, 1990 in The United States Bankruptcy Court for the Northern District
of Texas, Dallas Division. [Exhibit 10.51 to Registrant's Annual Report
on Form 10-K for the year ended December 31, 1990 (File No. 0-11987)].*

       (10.22)
Pavillion Partners, Ltd., Debtor's First Amended Plan of Reorganization
executed January 16, 1991 in The United States Bankruptcy Court for the
Northern District of Texas, Dallas Division. [Exhibit 10.52 to
Registrant's Annual Report on Form 10-K for the year ended December 31,
1990 (File No. 0-11987)].*

       (10.23)
Promissory Note dated April 13, 1994 by and between Pavillion Partners,
Ltd. and Sunlife Insurance Company of America.  [Exhibit 10.1 to
Registrant's Report on Form 10-Q dated June 30, 1994 (File No. 0-
11987)].*

       (10.24)
Deed of Trust and Security Agreement dated April 13, 1994 between
Pavillion Partners, Ltd. and Sunlife Insurance Company of America.
[Exhibit 10.2 to Registrant's Report on Form 10-Q dated June 30, 1994
(File No. 0-11987)].*

       * Incorporated by reference.

(c) Reports on Form 8-K

    During the last quarter of the year ended December 31, 1997 the
    Partnership did not file any reports on Form 8-K.
<PAGE>
                           SIGNATURES


 Pursuant to the requirements of Section
13 or 15(d) of the Securities Exchange Act of
1934, the registrant has duly caused this report
to be signed on its behalf by the undersigned,
thereunto duly authorized, on the 25th day of
March, 1998.

                        KRUPP REALTY LIMITED PARTNERSHIP-IV

                        By: The Krupp Corporation, a General Partner

                        By: /s/ Douglas Krupp

                            Douglas Krupp, President, Co-Chairman
                            (Principal Executive Officer)
                             and Director of The Krupp Corporation



  Pursuant to the requirements of the
Securities Exchange Act of 1934, this report has
been signed below by the following persons on
behalf of the registrant and in the capacities
indicated, on the   th day of March, 1998.

Signatures         Titles


/s/ Douglas Krupp                President,
Co-Chairman (Principal
Douglas Krupp Executive Officer) and Director of

The Krupp Corporation, a GeneralPartner.

/s/ George Krupp           Co-Chairman
(Principal Executive
George Krupp Officer) and Director of The Krupp
Corporation, a General Partner.

/s/ Wayne H. Zarozny       Treasurer of
the Krupp Corporation,
Wayne H. Zarozny a General Partner.













































                           APPENDIX A

      KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES




















         CONSOLIDATED FINANCIAL STATEMENTS AND SCHEDULE
                       ITEM 8 OF FORM 10-K

     ANNUAL REPORT TO THE SECURITIES AND EXCHANGE COMMISSION
              For the Year Ended December 31, 1997



















      KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES

     INDEX TO CONSOLIDATED FINANCIAL STATEMENTS AND SCHEDULE




Report of Independent Accountants    F-3


Consolidated Balance Sheets at December 31, 1997
and
December 31, 1996                    F-4


Consolidated Statements of Operations For the
Years Ended
December 31, 1997, 1996 and 1995     F-5


Consolidated Statements of Changes in Partners'
Deficit
For the Years Ended December 31, 1997, 1996 and
1995                                 F-6


Consolidated Statements of Cash Flows For the
Years Ended
December 31, 1997, 1996 and 1995     F-7


Notes to Consolidated Financial StatementsF-8 - F-14


Schedule III - Real Estate and Accumulated
Depreciation                 F-15 - F-16


All other schedules are omitted as they are not
applicable, not required, or the information is
provided in the consolidated financial
statements or the notes thereto.

























<PAGE>
                REPORT OF INDEPENDENT ACCOUNTANTS


To the Partners of
Krupp Realty Limited Partnership-IV and
Subsidiaries:

We have audited the consolidated financial
statements and the financial statement schedule
of Krupp Realty Limited Partnership-IV and
Subsidiaries (the "Partnership") listed in the
index on page F-2 of this Form 10-K.  These
financial statements and financial statement
schedule are the responsibility of the
Partnership's management.  Our responsibility is
to express an opinion on these financial
statements and financial statement schedule
based on our audits.

We conducted our audits in accordance with
generally accepted auditing standards.  Those
standards require that we plan and perform the
audit to obtain reasonable assurance about
whether the financial statements are free of
material misstatement.  An audit includes
examining, on a test basis, evidence supporting
the amounts and disclosures in the financial
statements.  An audit also includes assessing
the accounting principles used and significant
estimates made by management, as well as
evaluating the overall financial statement
presentation.  We believe that our audits
provide a reasonable basis for our opinion.

In our opinion, the financial statements
referred to above present fairly, in all
material respects, the consolidated financial
position of Krupp Realty Limited Partnership-IV
and Subsidiaries as of December 31, 1997 and
1996, and the consolidated results of its
operations and its cash flows for each of the
three years in the period ended December 31,
1997 in conformity with generally accepted
accounting principles.  In addition, in our
opinion, the financial statement schedule
referred to above, when considered in relation
to the basic financial statements taken as a
whole, presents fairly, in all material
respects, the information required to be
included therein.




Boston, Massachusetts           COOPERS & LYBRAND L.L.P.
January 30, 1998
<PAGE>
      KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES

                 CONSOLIDATED BALANCE SHEETS
                 December 31, 1997 and 1996
<TABLE>
<CAPTION>


                           ASSETS

                                         1997        1996

Multi-family apartment complexes,
net of accumulated depreciation of
$26,859,567 and $24,742,332,
<S>                                  <C>         <C>
respectively (Note D)                $14,947,503 $15,566,325
Cash and cash equivalents (Note C)       402,621     956,012
Replacement reserve and repair escrows
(Note D)                                 302,985      31,951
Prepaid expenses and other assets        852,446     809,579
Deferred expenses, net of accumulated
amortization of $218,977 and $156,813,
respectively (Note F)                    212,763     241,845

  Total assets                       $16,718,318 $17,605,712

              LIABILITIES AND PARTNERS' DEFICIT

Liabilities:
Mortgage notes payable (Note D)      $20,327,586 $20,192,138
Accounts payable                            -         16,938
Due to affiliates (Note F)                41,571      32,392
Accrued expenses and other liabilities  1,212,728  1,206,076

  Total liabilities                   21,581,885  21,447,544

Partners' deficit (Note E):
Investor Limited Partners
  (30,000 Units outstanding)        (3,216,956)   (2,246,313)
  Original Limited Partner          (1,339,425)   (1,298,552)
General Partners                        (307,186)   (296,967)

  Total Partners' deficit             (4,863,567) (3,841,832)

Total liabilities and Partners' deficit$16,718,318$17,605,712

</TABLE>

















           The accompanying notes are an integral
    part of the consolidated financial statements.<PAGE>
    KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES

            CONSOLIDATED STATEMENTS OF OPERATIONS
    For the Years Ended December 31, 1997, 1996 and 1995


<TABLE>
<CAPTION>

                                 1997         1996        1995


<S>                          <C>          <C>        <C>
Revenue:
Rental                       $ 7,667,293  $ 7,195,526$ 6,939,316
Other income (Note C)             53,992      112,117    169,395

   Total revenue               7,721,285    7,307,643  7,108,711

Expenses:
Operating (Note F)              2,169,020   2,204,240  2,011,396
Maintenance                      677,491      722,959    630,222
Real estate taxes                759,158      743,584    630,957
General and administrative (Note F)153,734    120,653    166,730
Management fees (Note F)         308,841      269,428    272,061
Depreciation and amortization   2,179,399   2,106,590  2,106,589
Interest (Note D)              1,312,291    1,294,247  1,311,140

  Total expenses               7,559,934    7,461,701  7,129,095

Income (loss) before minority
interest                         161,351     (154,058)    (20,384)

Minority interest                 (4,235)     (2,822)     (1,244)

Net income (loss) (Note G)   $   157,116  $  (156,880)$   (21,628)

Allocation of net income (loss)
(Note E):

Investor Limited Partners
  (30,000 Units outstanding) $   149,260  $  (149,036)$   (20,547)

Investor Limited Partners
  Per Unit                   $      4.98  $     (4.97)$      (.68)

Original Limited Partner     $     6,285  $    (6,275)$      (865)

General Partners             $     1,571  $    (1,569)$      (216)


</TABLE>












           The accompanying notes are an integral
    part of the consolidated financial statements.<PAGE>
    KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES

   CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' DEFICIT
    For the Years Ended December 31, 1997, 1996 and 1995

<TABLE>
<CAPTION>

                Investor      Original                 Total
                Limited       Limited     General      Partners'
                Partners      Partner    Partners       Deficit

Balance at
<S>              <C>        <C>         <C>          <C>
December 31, 1994$ 1,182,933$(1,208,892)$  (261,421) $  (287,380)

Distributions     (839,859)    (35,362)      (8,841)   (884,062)

Net loss           (20,547)       (865)        (216)    (21,628)

Balance at
December 31, 1995  322,527   (1,245,119)   (270,478)  (1,193,070)

Distributions   (2,419,804)    (47,158)     (24,920) (2,491,882)

Net loss          (149,036)     (6,275)      (1,569)   (156,880)

Balance at
December 31, 1996 (2,246,313) (1,298,552)   (296,967) (3,841,832)

Distributions
(Note E)        (1,119,903)    (47,158)     (11,790) (1,178,851)

Net income (Note E)    149,260      6,285      1,571     157,116

Balance at
December 31, 1997$(3,216,956)$(1,339,425)$  (307,186)$(4,863,567)
</TABLE>

The per Unit distributions for the years ended
December 31, 1997, 1996 and 1995 were $37.33,
$80.66 and $28.00, respectively, of which $0,
$43.33 and $0 represented a return of capital,
respectively.






















               The accompanying notes are an integral
        part of the consolidated financial statements.<PAGE>
    KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES

            CONSOLIDATED STATEMENTS OF CASH FLOWS
    For the Years Ended December 31, 1997, 1996 and 1995

<TABLE>
<CAPTION>
                          1997            1996        1995
Operating activities:
<S>                    <C>              <C>          <C>
Net income (loss)      $157,116         $(156,880)   $(21,628)
 Adjustment to reconcile net income
    (loss) to net cash provided by
    operating activities:
Depreciation and amortization   2,179,399     2,106,590    2,106,589
 Changes in assets and liabilities:
    Decrease (increase) in prepaid
       expenses and other assets (42,867)      (127,399)     71,364
    Increase in accrued expenses and
       other liabilities           6,652        222,291       43,640
    Increase (decrease) in accounts
       payable                  (10,649)        (50,513)     55,353
    Increase (decrease) in due to
       affiliates                9,179          (65,448)     88,523

Net cash provided by
Operating activities               2,298,830  1,928,641    2,343,841

Investing activities:
Additions to fixed assets    (1,498,413)       (530,823)   (427,362)
Deposits to replacement reserve and
 repair escrows             (962,861)           (62,861)    (62,861)
 Withdrawals from replacement reserve
 and repair escrows           691,827            49,976       64,135
Increase (decrease) in accounts payable
 for fixed asset additions      (6,289)           6,289          -


       Net cash used in investing
         activities     (1,775,736)            (537,419)   (426,088)

Financing activities:
Proceeds from note payable  900,000                -            -
Principal payments on mortgage
 notes payable              (764,552)          (746,022)   (729,129)
Increase in deferred expenses(33,082)              -          (1,942)
Distributions             (1,178,851)        (2,491,882)   (884,062)

Net cash used in financing
activities              (1,076,485)          (3,237,904) (1,615,133)

Net increase (decrease) in cash and
cash equivalents         (553,391)           (1,846,682)    302,620

Cash and cash equivalents,
beginning of year          956,012            2,802,694    2,500,074

Cash and cash equivalents,
end of year           $    402,621          $   956,012  $ 2,802,694


</TABLE>



           The accompanying notes are an integral
    part of the consolidated financial statements.<PAGE>
    KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES

         NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

A.Organization

Krupp Realty Limited Partnership-IV ("KRLP-IV")
was formed on December 1, 1982 by filing a
Certificate of Limited Partnership in The
Commonwealth of Massachusetts.  KRLP-IV
terminates on December 31, 2020, unless earlier
terminated upon the sale of the last of KRLP-IV
and Subsidiaries' properties or  the occurrence
of certain other events as set forth in the
Partnership Agreement.

KRLP-IV issued all of the General Partner
Interests to The Krupp Corporation, a
Massachusetts corporation, and The Krupp Company
Limited Partnership-II, a Massachusetts limited
partnership, in exchange for capital
contributions aggregating $1,000.  Except under
certain limited circumstances upon termination
of KRLP-IV, the General Partners are not
required to make any additional capital
contributions.  KRLP-IV also issued all of the
Original Limited Partner Interests to The Krupp
Company Limited Partnership-II in exchange for
a capital contribution of $4,000.  The Original
Limited Partner is not required to make any
additional capital contributions to KRLP-IV.  On
January 18, 1983, KRLP-IV commenced the offering
of up to 30,000 Units of Investor Limited
Partner Interests (the "Units").  As of March
31, 1983, KRLP-IV received subscriptions for all
30,000 Units at $1,000 per Unit and therefore,
the public offering was successfully completed
on that date.

In 1990, the General Partners on behalf of KRLP-
IV formed three limited partnerships:  Pavillion
Partners, Ltd., Copper Creek Partners, Ltd. and
Westbridge Partners, Ltd.  At the same time, the
General Partners transferred ownership of
Pavillion Apartments to Pavillion Partners,
Ltd., Copper Creek Apartments to Copper Creek
Partners, Ltd., and Walden Pond Apartments to
Westbridge Partners, Ltd. in exchange for KRLP-
IV's 99% Limited Partner Interest in the new
entities.  Westcop Corporation, an affiliate of
the General Partners, contributed a total of
$11,216 in cash to the entities and is the
General Partner in each, with a 1% interest.  On
March 3, 1992, Copper Creek was foreclosed upon
by the holder of the first and second mortgage
notes pursuant to an agreement approved by the
Bankruptcy Court.

KRLP-IV, Pavillion Partners, Ltd., and
Westbridge Partners, Ltd. are collectively known
as Krupp Realty Limited Partnership-IV and
Subsidiaries (collectively the "Partnership").

As of December 31, 1997, the Partnership owned
four multi-family apartment complexes.

B.Significant Accounting Policies

The Partnership uses the following accounting
policies for financial reporting purposes, which
may differ in certain respects from those used
for federal income tax purposes (see Note G).

Basis of Presentation

The consolidated financial statements present
the consolidated assets, liabilities and
operations of Pavillion Partners, Ltd.,
Westbridge Partners, Ltd. and KRLP-IV (see Note
A).  All intercompany balances and transactions
have been eliminated.  At December 31, 1997 and
1996, minority interest of $21,736 and $25,971,
respectively, was included in other assets.

Risks and Uncertainties

The Partnership invests its cash primarily in
deposits and money market funds with commercial
banks.  The Partnership has not experienced any
losses to date on its invested cash.
Continued<PAGE>
    KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES

    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, Continued


B.Significant Accounting Policies, Continued

Risks and Uncertainties, Continued

The preparation of financial statements in
conformity with generally accepted accounting
principles requires management to make estimates
and assumptions that affect the reported amount
of assets and liabilities, contingent assets and
liabilities and revenues and expenses during the
reporting period.  Actual results could differ
from those estimates.

Cash and Cash Equivalents

The Partnership includes all short-term
investments with maturities of three months or
less from the date of acquisition in cash and
cash equivalents.  The cash investments are
recorded at cost, which approximates current
market values.

Rental Revenues

Leases require the payment of base rent monthly
in advance.  Rental revenues are recorded on the
accrual basis.

Impairment of Long-Lived Assets

Real estate assets and equipment are stated at
depreciated cost.  Pursuant to Statement of
Financial Accounting Standards Opinion No. 121
"Accounting for the Impairment of Long-Lived
Assets and for Long-Lived Assets to be Disposed
of", impairment losses are recorded on long-
lived assets used in operations on a property by
property basis, when events and circumstances
indicate that the assets might be impaired and
the estimated undiscounted cash flows to be
generated by those assets are less than the
carrying amount of those assets.  Upon
determination that an impairment has occurred,
those assets shall be reduced to fair value.

Depreciation
Depreciation is provided for by the use of the
straight-line method over estimated useful lives
of the related assets as follows:

Buildings and improvements 3 to 25 years
Appliances, carpeting and equipment 3 to 8 years

Deferred Expenses

The Partnership amortizes the costs incurred in
connection with the organization of its
Subsidiaries over a 5-year period using the
straight-line method.

Costs of obtaining and recording mortgages on
the properties are amortized over the term of
the related mortgage notes, using the straight-
line method.

Income Taxes

The Partnership is not liable for federal or
state income taxes as Partnership's income or
loss is allocated to the Partners for income tax
purposes.  In the event that the Partnership's
tax returns are examined by the Internal Revenue
Service or state taxing authority and the
examination results in a change in Partnership
taxable income or loss, such change will be
reported to the Partners.
Continued
    KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES

    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, Continued


B.Significant Accounting Policies, Continued

Reclassifications

Certain prior year balances have been
reclassified to conform with current year
consolidated financial statement presentation.

C.Cash and Cash Equivalents

Cash and cash equivalents consisted of the
following:
<TABLE>
<CAPTION>
                                     December 31,     December 31,
                                         1997             1996


   <S>                               <C>              <C>
   Cash and money market accounts    $    402,621     $    458,337
   Commercial paper                          -             497,675
                                     $  402,621   $    956,012

</TABLE>
D.Mortgage Notes Payable

The properties owned by the Partnership are pledged as collateral
for the respective non-recourse mortgage notes payable outstanding
at December 31, 1997 and 1996.  Mortgage notes payable consisted
of the following:
<TABLE>
<CAPTION>
                Principal                     Annual Interest
   Property      1997          1996       Rate      Maturity Date


Fenland Field
<S>        <C>          <C>             <C>       <C>
Apartments $ 4,142,659  $ 4,259,525     9.25%     June 1, 2000

Indian Run
   Apartments  2,647,719  2,682,342     9.51%     October 1, 2004

Walden Pond
   Apartments  6,726,440  6,381,404        see belowFebruary 28, 1999

Pavillion
   Apartments  6,810,768  6,868,867     9.25%     May 1, 2001

   Total     $20,327,586$20,192,138
</TABLE>

Fenland Field Apartments

The property is subject to a non-recourse
mortgage note payable, based on a 20-year
amortization, in equal monthly installments of
principal and interest of $42,167.  At maturity,
all unpaid principal ($3,824,206) and any
accrued and unpaid interest are due.  The note
may not be prepaid prior to June 1, 1998 and
thereafter, may be prepaid subject to certain
prepayment premiums.  The mortgage note is
collateralized by the property.

Since the mortgage note cannot be prepaid prior
to June 1, 1998, the fair market value cannot be
determined.





                            Continued
    KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES

    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, Continued


D. Mortgage Notes Payable, Continued

Indian Run Apartments

The property is subject to a non-recourse
mortgage note payable, based on a 25-year
amortization, in equal monthly installments of
principal and interest of $24,021.  At maturity,
all unpaid principal ($2,298,949) and any
accrued and unpaid interest are due.  The note
may be prepaid at any time, subject to certain
prepayment premiums.

Based on the borrowing rates currently available
to the Partnership for bank loans with similar
terms and average maturities, the fair value of
long-term debt is approximately $2,900,000 and
$3,200,000 at December 31, 1997 and 1996,
respectively.

Walden Pond Apartments

On February 28, 1992, the prior wrap-around
mortgage note was modified in bankruptcy court.
The modified first mortgage note with a
principal balance of $5,500,000, which has a
stated rate of 9.5%, is being amortized over a
30-year period and requires monthly payments of
$46,247.  For financial reporting purposes,
generally accepted accounting principles
required the Partnership to increase the
outstanding principal balance of the mortgage to
the sum of the future cash flow payments
required under the terms of the mortgage,
including a final payment on February 28, 1999
of approximately $5,200,000.  All cash payments
made subsequent to the restructure are recorded
as a reduction of the principal balance with no
interest expense recognized by the Partnership.
The note may be prepaid at any time, subject to
certain prepayment premiums.

On July 31, 1997, the General Partners obtained
a $900,000 non-recourse note (the "Note") for
Walden Pond Apartments from the same lender that
holds the first mortgage note.  The Note bears
interest at a rate of 9.5% per annum and,
commencing September 1, 1997, requires monthly,
interest-only payments until the maturity date.
The Note matures on February 28, 1999,
simultaneous with the first mortgage note, at
which time all outstanding principal and any
accrued interest are due.  The Note may be
prepaid in its entirety without penalty, upon 90
days written notice, and simultaneous payment of
the first mortgage note. Proceeds from the Note
were deposited into an escrow account and will
be used to fund capital improvements at the
property.  The Partnership paid closing costs of
$33,082 to obtain the Note.

Based on the borrowing rates currently available
to the Partnership for bank loans with similar
terms and average maturities, the fair value of
long-term debt is approximately $6,300,000 at
December 31, 1997.  At December 31, 1996, the
fair market value could not be determined since
the mortgage note could not prepaid until 1997.

Pavillion Apartments

The property is subject to a non-recourse
mortgage note payable, based on a 30-year
amortization, in equal monthly installments of
principal and interest of $57,587.  At maturity,
all unpaid principal ($6,580,326) and any
accrued and unpaid interest are due.  The note
may be prepaid at any time, subject to certain
prepayment premiums.

Based on the borrowing rates currently available
to the Partnership for bank loans with similar
terms and average maturities, the fair value of
long-term debt is approximately $7,200,000 at
December 31, 1997.  At December 31, 1996, the
fair market value could not be determined since
the mortgage note could not prepaid until
1997.
Continued
    KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES

    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, Continued


D. Mortgage Notes Payable, Continued


The aggregate scheduled principal amounts of
long-term borrowings due during  the five years
ending December 31, 2002 are $783,115,
$6,421,457, $4,007,863, $6,657,438 and 55,164,
respectively.

The Partnership paid interest on its mortgage
notes of $1,304,929, $1,294,247 and 1,311,140
during the years ended December 31, 1997, 1996
and 1995, respectively.

E.Partners' Deficit

Under the terms of the Partnership Agreement,
profits and losses from operations are allocated
95% to the Investor Limited Partners, 4% to the
Original Limited Partner and 1% to the General
Partners until such time that the Investor
Limited Partners have received a return of their
total invested capital plus a 9% per annum
cumulative return thereon.  Thereafter, profits
and losses will be allocated 65% to the Investor
Limited Partners, 28% to the Original Limited
Partner and 7% to the General Partners.

In accordance with the Partnership Agreement,
distributions are generally made on the same
basis as the allocations of profits and losses
described above.  Upon the occurrence of a
capital transaction, as defined in the
Partnership Agreement, proceeds will be applied
to the payment of all debts and liabilities of
the Partnership then due and then fund any
reserves for contingent liabilities.  Remaining
net cash proceeds will then be distributed 99%
to the Invested Limited Partners until they have
received a return of their total invested
capital and 1% to the General Partners,
thereafter net cash proceeds will be distributed
in accordance with the Partnership Agreement.

As of December 31, 1997, the following
cumulative partner contributions and allocations
have been made since inception of KRLP-IV:
<TABLE>
<CAPTION>
                    Investor     Original
                    Limited      Limited    General
                    Partners     Partner    Partners     Total


<S>                  <C>          <C>      <C>     <C>
Capital contributions$ 30,000,000 $ 4,000  $ 1,000 $ 30,005,000
Syndication costs   (4,050,000)     -           -      (4,050,000)
Cash distributions:
   Operations       (7,134,116) (300,393)    (75,096)  (7,509,605)

   Capital
       transactions  (3,299,900)     -       (33,333)  (3,333,233)
Income (loss):
       Operations  (28,010,524) (1,340,954) (296,480) (29,647,958)
   Capital
   transactions      9,277,584    297,922     96,723    9,672,229
Balance at
   December 31, 1997$(3,216,956)$(1,339,425)$(307,186)$(4,863,567)

</TABLE>







                          Continued
    KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES

    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, Continued


F.Related Party Transactions

The Partnership pays property management fees
to an affiliate of the General Partners' for
management services.  Pursuant to the
management agreements, management fees are
payable monthly at a rate of 5% of the gross
receipts from the properties under management.
The affiliate of the General Partners sold the
management agreements to BRI OP Limited
Partnership, a subsidiary of Berkshire Realty
Company Inc., a publicly traded real estate
investment trust and an affiliate of the
General Partners, on February 28, 1997.  The
Partnership also reimburses affiliates of the
General Partners for certain expenses incurred
in connection with the operation of the
Partnership and its properties including
administrative expenses.

Amounts accrued or paid to the General Partners' affiliates for
the years ended December 31, 1997, 1996 and 1995 were as follows:
<TABLE>
<CAPTION>

<PAGE>
  1997                                         1996      1995
    <S>                          <C>          <C>       <C>
    Property management fees
<PAGE>
    $308,841     $269,428  $272,061
    Expense reimbursements
<PAGE>
       268,44       256,144   225,694
        Charged to operations 
<PAGE>
   $577,284    $525,572  $497,755
</TABLE>



<PAGE>
Due to affiliates consisted of expense reimbursements of $41,571
and $32,392 at December 31, 1997 and 1996, respectively.

In addition to the amounts above, refinancing costs of $101 were
paid to the General Partners' affiliates during the year ended
December 31, 1997.

G. Federal Income Taxes

For federal income tax purposes, the Partnership is depreciating
property using the Accelerated Cost Recovery System ("ACRS") and
the Modified Accelerated Cost Recovery System ("MACRS") depending
on which is applicable.

The reconciliation of the net income (loss) for each year reported
in the accompanying Consolidated Statement of Operations with the
net loss reported in the Partnership's federal income tax return
for the years ended December 31, 1997, 1996 and 1995 is as
follows:
<TABLE>
<CAPTION>
                               1997     1996     1995

Net income (loss) per Consolidated
  <S>                         <C>       <C>         <C>
  Statement of Operations     $ 157,116 $(156,880)$ (21,628)

  Difference in book to tax
    depreciation for Fenland
    Field and Indian Run         59,156    90,299    90,581

  Difference in Partnership's
    share of Pavillion Partners
    net loss for tax purposes    17,560    31,598    37,923

  Difference in Partnership's
    share of Westbridge Partners
    net income for tax purposes (401,876) (468,815) (448,394)

Net loss for federal income
  tax purposes                $(168,044)$(503,798)$(341,518)

Continued
    KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES

    NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, Continued



G.Federal Income Taxes, Continued

The allocation of the net loss for federal income tax purposes for
1997 is as  follows:

                   Portfolio   Passive     Income     Loss
Total

  Investor Limited
    Partners       $  49,776  $(209,418)  $(159,642)

  Original Limited
    Partner            2,096     (8,818)     (6,722)

  General Partners       524     (2,204)     (1,680)
                   $  52,396  $(220,440)  $(168,044)
</TABLE>
During the years ended December 31, 1997, 1996
and 1995 the per Unit net loss to the Investor
Limited Partners for federal income tax purposes
was $(5.32), $(15.95) and $(10.81),
respectively.

The basis of the Partnership's assets for
financial reporting purposes exceeded its tax
basis by approximately $6,036,000 and $8,151,000
at December 31, 1997 and 1996, respectively.
The basis of the Partnership's liabilities for
financial reporting purposes is less that its
tax basis by approximately $7,966,000 and $0 at
December 31, 1997 and 1996, respectively.

H.Subsequent Event

On January 27, 1998, the General Partners
entered into a Purchase and Sale Agreement for
the sale of Indian Run Apartments to an
unaffiliated buyer, for the selling price of
$5,850,000.  The outstanding mortgage note
payable will be paid in conjunction with the
sale.  It is expected that the sale will be
consummated on March 31, 1998.
























    KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES

   SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION
                      December 31, 1997
<TABLE>
<CAPTION>


                                        Costs Capitalized
                                         Subsequent to
          Initial Cost to Partnership        Acquisition
              Buildings &              Buildings &       Depreciable
DescriptionEncumbrances   Land        Improvements Land Improvements     Life

Fenland Field
Apartments
<S>           <C>       <C>       <C>        <C>   <C>         <C>
Columbia, MD  $4,142,659$365,262  $4,852,767 $407  $2,391,3153 to 25 Years

Indian Run Apts.
Abilene, TX     2,647,719 503,574  6,690,341  902     828,3263 to 25 Years

Walden Pond Apts.
Houston, TX (a) 6,143,555   906,253 12,040,217 1,211  2,173,123  3 to 25 Years

Pavillion Apts.
Garland, TX     6,810,768   680,621  9,042,535 1,199  1,329,017  3 to 25 Years


Total       $19,744,701  $2,455,710 $32,625,860    $3,719    $6,721,781
</TABLE>


<PAGE>
                             Gross Amounts Carried at
                                       End of Year


Description

   Land   
<PAGE>
Buildings
and
Improvemen
ts

Total

Accumulated

Depreciation

<PAGE>
    Year
Constructi
on

Completed

 Year
Acquire
d
<PAGE>
Fenland
Field
Apartments
Columbia, MD

$  365,669

$
7,244,082

$
7,609,751

 $ 5,169,651

1970

1983
<PAGE>
Indian Run
Apts.
Abilene, TX
   504,476

7,518,667


8,023,143
   5,198,647
1982
1983
<PAGE>
Walden Pond
Apts.
Houston, TX
   907,464

14,213,340

15,120,804
   9,407,689
1982
1983
<PAGE>
Pavillion
Apts.
Garland, TX
   681,820

10,371,552


11,053,372
   7,083,580
1983
1983
<PAGE>
     Total
<PAGE>
$2,459,429
<PAGE>
$39,347,64
1
<PAGE>
$41,807,07
0
<PAGE>
$ 26,859,567

(a)      The mortgage note payable balance per the Consolidated Balance
         Sheets includes all interest payable through maturity (see
         Note D).








Continued
                  KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES

          SCHEDULE III - REAL ESTATE AND ACCUMULATED DEPRECIATION, Continued
                                         December 31, 1997




   Reconciliation of Real Estate and Accumulated Depreciation for
   each of the three years in the period ended December 31, 1997:
<TABLE>
<CAPTION>
       1997                         1996            1995
   Real Estate

   Balance at beginning
   <S>                          <C>             <C>             <C>
   of year                      $40,308,657     $ 39,777,834    $ 39,350,472

   Acquisition
        and improvements        1,498,413            530,823         427,362

   Balance at end of year     $ 41,807,070     $ 40,308,657     $ 39,777,834


             1997                    1996                            1995
   Accumulated Depreciation

   Balance at beginning
   of year                $ 24,742,332 $22,689,200     $ 20,636,291

   Depreciation expense   2,117,235      2,053,132        2,052,909

   Balance at end of year$ 26,859,567$ 24,742,332$ 22,689,200


The Partnership uses the cost basis for property
valuation for both income tax and financial
statement purposes.  The aggregate cost of the
Partnership's real estate for federal income tax
purposes at December 31, 1997 is $41,807,070 and
the aggregate accumulated depreciation for
federal income tax purposes is $34,834,968.


</TABLE>