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

                                    FORM 10-Q


QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934

For the quarterly period ended    September 30, 1996

                                       OR

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
OF 1934

For the transition period from                         to                

                 Commission file number          0-11987        

                    Krupp Realty Limited Partnership-IV                        


            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)


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


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      

<PAGE>
                        PART I.  FINANCIAL INFORMATION

Item 1. CONSOLIDATED FINANCIAL STATEMENTS

This Form 10-Q 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.

             KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES

                          CONSOLIDATED BALANCE SHEETS
<TABLE>
<CAPTION>
                                             

                                    ASSETS
                                                September 30,  December 31,
                                                    1996          1995    
<S>                                             <C>            <C>
Multi-family apartment complexes, 
   net of accumulated depreciation of 
   $24,219,252 and $22,689,200, respectively    $ 15,967,267   $17,088,634
Cash and cash equivalents                            794,799     2,802,694
Cash restricted for capital improvements              16,236        19,066
Prepaid expenses and other assets                    637,603       653,387
Deferred expenses, net of accumulated
   amortization of $143,449 and $103,355,
   respectively                                      255,209       295,303

      Total assets                              $ 17,671,114   $20,859,084    
      

                       LIABILITIES AND PARTNERS' DEFICIT

Mortgage notes payable                          $ 20,380,314   $20,938,160
Accounts payable                                      11,066        61,162
Due to affiliates (Note 3)                            16,295        97,840
Other liabilities                                  1,025,889       954,992

      Total liabilities                           21,433,564    22,052,154

Partners' equity (deficit) (Note 2):

   Investor Limited Partners 
      (30,000 Units outstanding)                  (2,170,900)       322,527
   Original Limited Partner                       (1,295,377)    (1,245,119)
   General Partners                                 (296,173)      (270,478)

      Total Partners' deficit                     (3,762,450)    (1,193,070)

      Total liabilities and Partners' 
         deficit                                $ 17,671,114   $20,859,084
</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
                                             
<TABLE>
<CAPTION>
                                       
                                For the Three Months     For the Nine Months
                                Ended September 30,      Ended September 30, 
                                  1996        1995        1996        1995   
Revenue:
   <S>                         <C>         <C>         <C>         <C>
   Rental                      $1,803,079  $1,726,117  $5,414,210  $5,172,739
   Other income                    18,740      43,634      97,612     123,553

      Total revenue             1,821,819   1,769,751   5,511,822   5,296,292

Expenses:
   Operating (Note 3)             589,301     512,217   1,690,157   1,397,067
   Maintenance                    202,736     177,516     519,763     452,916
   Real estate taxes              224,773     184,993     558,172     483,799
   General and adminis-
      trative (Note 3)             22,670      44,344      65,307      97,136
   Management fees (Note 3)        71,196      75,161     211,185     215,260
   Depreciation and
      amortization                534,432     528,846   1,570,146   1,568,300
   Interest                       323,022     327,293     972,356     984,878
      Total expenses            1,968,130   1,850,370   5,587,086   5,199,356

Income (loss) before minority
   interest                      (146,311)    (80,619)    (75,264)     96,936

Minority interest                     165         481      (2,234)     (1,017)

Net income (loss)              $ (146,146) $  (80,138) $  (77,498) $   95,919

Allocation of net income (loss) 
   (Note 2):

   Investor Limited Partners
      (30,000 Units 
      outstanding)             $ (138,839) $  (76,131) $  (73,623) $   91,123

   Per Unit of Investor Limited
      Partner Interest         $    (4.62) $    (2.54) $    (2.45) $     3.04

   Original Limited Partner    $   (5,846) $   (3,206) $   (3,100) $    3,836

   General Partners            $   (1,461) $     (801) $     (775) $      960

</TABLE>
                    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
                                  __________
<TABLE>
<CAPTION>
                                                      For the Nine Months
                                                       Ended September 30,  
                                                        1996          1995   


<S>                                                 <C>           <C>
Operating activities:
   Net income (loss)                                $   (77,498)  $    95,919
   Adjustments to reconcile net income (loss) to
      net cash provided by operating activities:
         Depreciation and amortization                1,570,146     1,568,300
         Decrease in prepaid expenses and
            other assets                                 15,784        87,105
         Increase in other liabilities                   70,897        13,035
         Increase (decrease) in accounts payable        (52,083)       29,593
         Increase (decrease) in due to affiliates       (81,545)       39,433

            Net cash provided by operating
               activities                             1,445,701     1,833,385

Investing activities:
   Decrease (increase) in cash restricted for
      capital improvements                                2,830        (1,374)
   Increase in other investments                          -          (246,429)
   Additions to fixed assets                           (408,685)     (302,435)
   Increase in accounts payable for fixed asset
      additions                                           1,987         -    

            Net cash used in investing
               activities                              (403,868)     (550,238)

Financing activities:
   Principal payments on mortgage notes payable        (557,846)     (545,324)
   Distributions                                     (2,491,882)     (884,062)
   Increase in deferred expenses                          -            (1,941)

            Net cash used in financing
               activities                            (3,049,728)   (1,431,327)

Net decrease in cash and cash equivalents            (2,007,895)     (148,180)

Cash and cash equivalents, beginning of period        2,802,694     2,500,074

Cash and cash equivalents, end of period            $   794,799   $ 2,351,894

</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
                                            


(1)  Accounting Policies

    Certain information and footnote disclosures normally included in
    financial statements prepared in accordance with generally accepted
    accounting principles have been condensed or omitted in this report.  In
    the opinion of the General Partners of Krupp Realty Limited Partnership-
    IV and Subsidiaries (the "Partnership"), the disclosures contained in
    this report are adequate to make the information presented not
    misleading.  See Notes to Consolidated Financial Statements included in
    the Partnership's Annual Report for the year ended December 31, 1995 for
    additional information relevant to significant accounting policies
    followed by the Partnership.  

    The consolidated financial statements present consolidated assets,
    liabilities and operations of Pavillion Partners, Ltd., Westbridge
    Partners, Ltd., and Krupp Realty Limited Partnership-IV.  Westcop 
    Corporation has a 1% interest in the operations of Westbridge Partners,
    Ltd. and Pavillion Partners, Ltd.  At September 30, 1996,  minority
    interest of $26,560 is included in other liabilities.           

    In the opinion of the General Partners of the Partnership, the
    accompanying unaudited consolidated financial statements reflect all
    adjustments (consisting of only normal recurring accruals) necessary to
    present fairly the Partnership's consolidated financial position as of
    September 30, 1996, its results of operations for the three and nine
    months ended September 30, 1996 and 1995 and its cash flows for the nine
    months ended September 30, 1996 and 1995.  Certain prior year balances
    have been reclassified to conform with current year consolidated
    financial statement presentation.
  
    The results of operations for the three and nine months ended September
    30, 1996 are not necessarily indicative of the results which may be
    expected for the full year.  See Partnership Operations included in this
    report.

(2) Changes in Partners' Deficit

    A summary of changes in Partners' equity (deficit) for the nine months
    ended September 30, 1996 is as follows:
<TABLE>
<CAPTION>
                                                                   
                             Investor       Original                  Total
                             Limited        Limited     General     Partners'
                             Partners       Partner     Partners     Deficit  

     <S>                    <C>           <C>          <C>        <C>
     Balance at
       December 31, 1995    $   322,527   $(1,245,119) $(270,478) $(1,193,070)

     Net income                 (73,623)       (3,100)      (775)     (77,498)

     Distributions:
       Operations            (1,119,903)      (47,158)   (11,790)  (1,178,851)
       Capital transaction   (1,299,901)        -        (13,130)  (1,313,031)

     Balance at
       September 30, 1996   $(2,170,900)  $(1,295,377) $(296,173) $(3,762,450)

</TABLE>
Continued

<PAGE>
             KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES
            NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued
                                            


(3) Related Party Transactions

    Commencing with the date of acquisition of the Partnership's properties,
    the Partnership entered into agreements under which property management
    fees are paid to an affiliate of the General Partners for services as
    management agent.  Such agreements provide for management fees payable
    monthly at a rate of 5% of the gross receipts from the properties under
    management.  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 accounting, computer,
    insurance, travel, legal and payroll, and with the preparation and
    mailing of reports and other communications to the Limited Partners.

    Amounts accrued or paid to the General Partners or their affiliates are
    as follows:
<TABLE>
<CAPTION>
                                 For the Three Months    For the Nine Months
                                  Ended September 30,    Ended September 30,
                                   1996        1995        1996       1995 

       <S>                       <C>         <C>         <C>       <C>
       Property management
          fees                   $ 71,196    $ 75,161    $211,185  $215,260

       Expense reimbursements      64,030      43,078     189,732    99,067

       Charged to operations     $135,226    $118,239    $400,917  $314,327
</TABLE>
    Due to affiliates consists of the following:

<TABLE>
<CAPTION>
                                                 September 30,  December 31,
                                                     1996           1995   

       <S>                                       <C>   <C>      <C>  <C>

       Expense reimbursements                    $     16,295   $    97,840
</TABLE>
<PAGE>

             KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES
                                            

Item 2. PARTNERSHIP 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 on the operations of its remaining real estate
investments.  Such ability would also be impacted by the future availability
of bank borrowings, and upon future refinancing and sale of the Partnership's
real estate investments and the collection of any mortgage receivables which
may result from such sales.  These sources of liquidity will be used by the
Partnership for payment of expenses related to real estate operations, capital
improvements, refinancing and 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.  Due to improvements in the operations of the
properties and reduced debt service, the Partnership has been able to increase
semi-annual distributions from an annual rate of $28.00 per Unit in 1995, to
approximately $37.33 per Unit in 1996.  In addition, the Partnership made a
special distribution of $1,313,031 during the second quarter of 1996,
representing a capital distribution, based on the remaining proceeds from the
sale of Lakeview Tower in 1992.  In accordance with Section 8.3(a) of the
Partnership Agreement, the distribution was allocated 99% to the Investor
Limited Partners and 1% to the General Partners.

In the third quarter of 1996, the Partnership continued capital improvements
at its properties and anticipates that these improvements will continue
throughout the year.  These improvements consist of interior enhancements
which include replacement of appliances, carpeting and vinyl flooring as well
as exterior improvements consisting of painting, roof repairs, paving of
parking lots and the building of perimeter walls and fences.  The Partnership
believes that these improvements are necessary to compete with current market
conditions, produce quality rental units and absorb excess market supply at
the properties' respective locations.

Cash Flow

Shown below is the calculation of Cash Flow as defined by Section 8.2(a) of
the Partnership Agreement for the nine months ended September 30, 1996.  The
General Partners provide certain of the information below to meet requirements
of the Partnership Agreement and because they believe that it is an
appropriate supplemental measure of operating performance.  However, Cash Flow
should not be considered by the reader as a substitute to net income (loss),
as an indicator of the Partnership's operating performance or to cash flows as
a measure of liquidity.
<TABLE>
<CAPTION>
                                                       Rounded to $1,000

   <S>                                                   <C>
   Net loss for tax purposes                             $  (325,000)

   Items not requiring or (requiring) 
      the use of operating funds:
         Tax basis depreciation and amortization           1,437,000         
         Tax basis principal payments on mortgage           (178,000) 
         Expenditures for capital improvements              (409,000)
         Releases from working capital reserves              654,000  

   Cash Flow                                             $ 1,179,000
</TABLE>
                                   Continued
<PAGE>
KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES
                                            

Operations                                                                     
 
Cash Flow, before additions to working capital reserves, decreased in the
first three quarters of 1996 as compared to the same period in 1995 as a
result of both increased capital improvement expenditures and a decrease in
net income, as the increase in expenses more than offset the increase in
revenue.  Rental revenue during the three and nine months ended September 30,
1996, as compared to the same periods in 1995, increased as a result of
increased rental rates at the Partnership's properties instituted in 1995.

For the three and nine months ended September 30, 1996 as compared with the
same period in 1995, the Partnership experienced increases in operating,
maintenance and real estate tax expenses.  Operating expense increased due to
both higher insurance expense, attributable to prior years' insurance refunds
received in 1995, and greater utility rates and consumption levels at
Pavillion, Walden Pond and Fenland Field.  The increase in operating expense
is also due to an adjustment of 1994 reimbursable expenses recorded in 1995,
relating to the operation of the Partnership and its properties.  Maintenance
expense increased due to external wall repairs, paving and landscaping at
Indian Run, driveway, siding and stairway repairs at Walden Pond, roof repairs
at Pavillion, and snow removal expenditures at Fenland Field as a result of
the harsh winter weather conditions.  Real estate taxes increased due to
increases in the assessed values of Walden Pond, Indian Run and Pavillion. 

General

In accordance with Financial Accounting Standard No. 121, "Accounting for the
Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of",
which is effective for fiscal years beginning after December 15, 1995, the
Partnership has implemented policies and practices for assessing impairment of
its real estate assets.

The investments in properties are carried at cost less accumulated
depreciation unless the General Partners believe there is a significant
impairment in value, in which case a provision to write down investments in
properties to fair value will be charged against income.  At this time, the
General Partners do not believe that any assets of the Partnership are
significantly impaired.

<PAGE>
             KRUPP REALTY LIMITED PARTNERSHIP-IV AND SUBSIDIARIES

                          PART II - OTHER INFORMATION
                                             

Item 1. Legal Proceedings
        Response:  None

Item 2. Changes in Securities
        Response:  None

Item 3. Defaults upon Senior Securities
        Response:  None

Item 4. Submission of Matters to a Vote of Security Holders
        Response:  None

Item 5. Other Information
        Response:  None

Item 6. Exhibits and Reports on Form 8-K
        Response:  None

                                   SIGNATURE


Pursuant to the requirements 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.



                                      Krupp Realty Limited Partnership-IV
                                               (Registrant)


                                      BY: /s/Robert A. Barrows                

                                          Robert A. Barrows
                                          Treasurer and Chief Accounting
                                          Officer of the Krupp Corporation, a
                                          General Partner.

DATE: November 5, 1996