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



                                    FORM 10-Q

(Mark One)

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

For the quarterly period ended               June 30, 2001
                               -------------------------------------------------

                                       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.)

 One Beacon Street, Boston, Massachusetts                       02108
--------------------------------------------------------------------------------
(Address of principal executive offices)                      (Zip Code)

                                 (617) 523-7722
--------------------------------------------------------------------------------
              (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 |_|

The total number of pages in this document is 11.











<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

                                     ASSETS
<TABLE>
<CAPTION>

                                                    (Unaudited)
                                                     June 30,      December 31,
                                                       2001            2000
                                                   ------------    ------------
<S>                                                <C>             <C>
Multi-family apartment communities, net of
  accumulated depreciation of $27,159,374 and
  $26,362,441, respectively                        $  9,536,020    $ 10,139,898
Cash and cash equivalents                             1,003,837         740,853
Real estate tax escrows                                 540,702         723,394
Prepaid expenses and other assets (Note 1)              136,110         277,631
Investment in securities (Note 2)                        95,516          95,516
Deferred expense, net of accumulated amortization
  of $359,216 and $341,854, respectively (Note 3)        22,938          40,300
                                                   ------------    ------------

         Total assets                              $ 11,335,123    $ 12,017,592
                                                   ============    ============

                        LIABILITIES AND PARTNERS' DEFICIT

Liabilities:
    Mortgage  notes payable (Note 3)               $ 16,048,491    $ 16,224,646
    Due to affiliates (Note 5)                           38,789            -
    Other liabilities                                   922,000       1,190,128

                                                   ------------    ------------
         Total liabilities                           17,009,280      17,414,774
                                                   ------------    ------------

Partners' deficit (Note 4):
    Investor Limited Partners
     (30,000 Units outstanding)                      (3,965,523)     (3,702,397)
    Original Limited Partner                         (1,393,340)     (1,382,261)
    General Partners                                   (315,294)       (312,524)
                                                   ------------    ------------

         Total partners' deficit                     (5,674,157)     (5,397,182)
                                                   ------------    ------------

         Total liabilities and partners' deficit   $ 11,335,123    $ 12,017,592
                                                   ============    ============

</TABLE>



                     The accompanying notes are an integral
                 part of the consolidated financial statements.

                                      2
<PAGE>

             KRUPP REALTY LIMITED PARTNERSHIP - IV AND SUBSIDIARIES

                      CONSOLIDATED STATEMENTS OF OPERATIONS

                                   (Unaudited)

<TABLE>
<CAPTION>
                             For the Three Month          For the Six Months
                                Ended June 30,              Ended June 30,
                           ------------------------    ------------------------
                              2001          2000          2001          2000
                           ----------    ----------    ----------    ----------

<S>                        <C>           <C>           <C>           <C>
Revenue:
    Rental                 $1,849,081    $1,806,649    $3,645,187    $3,590,724
    Other Income               10,497        18,499        28,719        36,599
                           ----------    ----------    ----------    ----------
         Total revenue      1,859,578     1,825,148     3,673,906     3,627,323
                           ----------    ----------    ----------    ----------

Expenses:
    Operating (Note 5)        481,755       453,400       993,860       877,642
    Maintenance               154,819       149,979       273,418       273,594
    Real estate taxes         195,279       188,285       379,314       421,768
    Management fees (Note 5)   78,265        72,136       153,669       145,375
    General and administrative
      (Note 5)                 72,074        71,708       194,898       106,265
    Depreciation and
      amortization            407,570       400,312       814,295       798,532
    Interest                  355,503       387,932       750,192       769,108
                           ----------    ----------    ----------    ----------

         Total expenses     1,745,265     1,723,752     3,559,646     3,392,284
                           ----------    ----------    ----------    ----------

Income before minority
  interest                    114,313       101,396       114,260       235,039

Minority interest              (1,030)         (892)       (1,451)       (1,697)
                           ----------    ----------    ----------    ----------

Net income                 $  113,283    $  100,504    $  112,809    $  233,342
                           ==========    ==========    ==========    ==========

Allocation of net income (Note 4):

 Investor Limited Partners
 (30,000 Units outstanding):
         Net income        $  107,619    $   95,479    $  107,169    $  221,675
                           ==========    ==========    ==========    ==========

 Investor Limited Partners
   Per Unit:
         Net Income        $     3.59    $     3.18    $     3.57    $     7.39
                           ==========    ==========    ==========    ==========

 Original Limited Partner
 (100 Units outstanding):
         Net income        $    4,531    $    4,020    $    4,512    $    9,334
                           ==========    ==========    ==========    ==========

 General Partners:
         Net income        $    1,133    $    1,005    $    1,128    $    2,333
                           ==========    ==========    ==========    ==========
</TABLE>

                     The accompanying notes are an integral
                 part of the consolidated financial statements.

                                       3
<PAGE>

               KRUPP REALTY LIMITED PARTNERSHIP - IV SUBSIDUARIES

                      CONSOLIDATED STATEMENTS OF CASH FLOWS

                                   (Unaudited)

<TABLE>
<CAPTION>
                                                         For the Six Months
                                                            Ended June 30,
                                                     --------------------------
                                                         2001           2000
                                                     -----------    -----------
<S>                                                  <C>            <C>
Cash flows from operating activities:
    Net income                                       $   112,809    $   233,342
    Adjustment to reconcile net income to net cash
      provided by operating activities:
       Depreciation and amortization                     814,295        798,532
       Changes in assets and liabilities:
         Decrease in prepaid expenses and other
           assets                                        324,213        277,513
         Decrease in other liabilities                  (270,492)      (264,532)
         Increase (decrease) in due to affiliates         38,789        (20,196)
                                                     -----------    -----------

           Net cash provided by operating activities   1,019,614      1,024,659
                                                     -----------    -----------

Cash flows from investing activities:
    Increase (decrease) in other liabilities related
      to fixed asset additions                             2,364         (6,415)
    Fixed asset additions                               (193,055)      (344,994)
                                                     -----------    -----------

           Net cash used in investing activities        (190,691)      (351,409)
                                                     -----------    -----------

Cash flows from financing activities:
    Principal payments on mortgage notes payable        (176,155)      (158,088)
    Distributions                                       (389,784)      (389,784)
                                                     -----------    -----------

           Net cash used in financing activities        (565,939)      (547,872)
                                                     -----------    -----------

Net increase in cash and cash equivalents                262,984        125,378

Cash and cash equivalents, beginning of period           740,853        856,738
                                                     -----------    -----------

Cash and cash equivalents, end of period             $ 1,003,837    $   982,116
                                                     ===========    ===========
</TABLE>











                     The accompanying notes are an integral
                  part of the consolidated financial statements

                                       4
<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 on Form 10-Q
     pursuant  to the Rules  and  Regulations  of the  Securities  and  Exchange
     Commission.  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 on Form 10-K for the year ended  December 31,
     2000 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 June 30, 2001 and December 31, 2000,
     minority interest of $7,138 and $8,589, respectively,  is included in other
     assets.

     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 June 30, 2001, its
     results of operations  for the three and six months ended June 30, 2001 and
     2000 and its cash flows for the six months ended June 30, 2001 and 2000.

     The results of operations  for the three and six months ended June 30, 2001
     are not necessarily indicative of the results which may be expected for the
     full year. See Management's  Discussion and Analysis of Financial Condition
     and Results of Operations included in this report.

(2)  Investment in Securities

     On October 5, 2000,  the  Partnership,  as a member of an alliance of major
     multi-family  real  estate  companies,  executed a master  lease  agreement
     ("MLA") with a provider of high-speed internet, video and voice services to
     multi-family communities.  Pursuant to the MLA, the Partnership granted the
     provider  preferred  lease,  license  and  access  rights to  provide  data
     services,  consisting of  high-speed  broadband  internet  access and video
     services,  to the residents at some of its  multi-family  communities for a
     ten year period.  In exchange for these rights,  the  Partnership  received
     366,691  shares of common  stock  which were  valued at $.2285 per share or
     $83,823.  In  addition,  the  Partnership  will  receive  7.5% of the gross
     revenues that the provider obtains from providing its services as well as a
     fixed amount for each  resident that  executes a subscriber  agreement.  In
     conjunction  with  the  execution  of the  MLA,  the  Partnership  made  an
     investment  of $8,406 in exchange  for 36,785  additional  shares of common
     stock  also  valued  at  $.2285  per  share.   The   Partnership   incurred
     approximately  $3,287 in closing  costs related to the  acquisition  by the
     Partnership  and the closing costs  incurred were recorded as an investment
     in  securities  in the  financial  statements  as of June  30,  2001 and of
     December 31, 2000.






                                    Continued

                                      5
<PAGE>

             KRUPP REALTY LIMITED PARTNERSHIP - IV AND SUBSIDIARIES

              NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, Continued


(3)  Mortgage Notes Payable

     On November 9, 2000, the General Partners signed an agreement extending the
     mortgage note payable on Walden Pond  Apartments,  until  November 1, 2002.
     Under the terms of the  extension  agreement  the interest rate on the debt
     was  reduced  from prime + 0.5% to prime - 0.5%.  The  Partnership  paid an
     extension fee of $29,555 for this privilege.

     As of  December  31,  2000,  the  General  Partners  had signed  agreements
     extending the mortgage note payable on Fenland Field Apartments,  under the
     original terms,  until June 1, 2002. The Partnership  paid an extension fee
     of $5,000 for this privilege.

     On April 27, 2001, the General  Partners signed an agreement  extending the
     mortgage note payable on Pavillion  Apartments,  under the original  terms,
     until May 1, 2002.  The  Partnership  paid an extension  fee of $32,969 for
     this privilege.

(4)  Changes in Partners' Deficit

     A summary of changes in Partners' deficit for the six months ended June 30,
     2001 is as follows:


<TABLE>
<CAPTION>
                        Investor       Original                      Total
                        Limiteded      Limited        General        Partners'
                        Partners       Partner        Partners       Deficit
                       -----------    -----------    -----------    -----------
<S>                    <C>            <C>            <C>            <C>
Balance at
 December 31, 2000     $(3,702,397)   $(1,382,261)   $  (312,524)   $(5,397,182)


Net income                 107,169          4,512          1,128        112,809

Distributions             (370,295)       (15,591)        (3,898)      (389,784)
                       -----------    -----------    -----------    -----------
Balance at
 June 30, 2000         $(3,965,523)   $(1,393,340)   $  (315,294)   $(5,674,157)
                       ===========    ===========    ===========    ===========

</TABLE>


















                                    Continued

                                       6
<PAGE>

             KRUPP REALTY LIMITED PARTNERSHIP - IV AND SUBSIDIARIES

              NOTES TO CONSOLIDATED FINANCIAL STATEMENTS, Continued

(5)  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 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  were as
     follows:


<TABLE>
<CAPTION>
                                For the Three Months       For the Six Months
                                   Ended June 30,            Ended June 30,
                              ------------------------  ------------------------
                                  2001         2000         2001         2000
                              -----------  -----------  -----------  -----------

<S>                               <C>          <C>         <C>          <C>
   Property management fees       $78,265      $72,136     $153,669     $145,375

   Expense reimbursements         104,627       79,767      269,988      136,947
                              -----------  -----------  -----------  -----------

         Charge to operations    $182,892     $151,903     $423,657     $282,322
                              ===========  ===========  ===========  ===========
</TABLE>


     Due to (from) affiliates consisted of expense reimbursements of $38,789 and
     $(28,007) at June 30, 2001 and December 31, 2000, respectively.

(6)  Subsequent Event

     On August 1, 2001,  the  Partnership  sold Fenland  Field  Apartments to an
     unrelated third party for $14,500,000.  The carrying value of Fenland Field
     Apartments was  approximately  $2,250,000.  The sale included the payoff of
     the  mortgage  owed on the  property of  approximately  $3,640,000  and the
     assumption of the remaining assets and liabilities.




















                                       7
<PAGE>

Item 2. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION 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  risks 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 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
     remaining real estate investments.  These sources of liquidity will be used
     by 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.

     Over the past several  years,  real estate markets in general have improved
     and the  General  Partners  feel it is an  opportune  time to  formulate  a
     liquidation  strategy for the  Partnership.  As previously  disclosed,  the
     General  Partners have begun the process of more  thoroughly  assessing the
     real estate sales market in the Partnership's market areas and developing a
     disposition  strategy  which  will  yield the  highest  value to  investors
     through an efficient and orderly liquidation of the Partnership. In keeping
     with this  strategy,  the General  Partners  have  extended the term of the
     mortgage loan which would otherwise have matured with financing that leaves
     flexibility for the property sales.

     Assuming market conditions do not change, the assessment of the real estate
     sales market is consistent with the General Partners' expectations,  and an
     acceptable disposition plan can be implemented, the General Partners expect
     to complete the liquidation process over the next 9 months.  However, there
     can be no assurance that such a liquidation will occur, or what amounts may
     be realized by the Partnership.

     On April 27, 2001, the General  Partners signed an agreement  extending the
     mortgage notes payable on Pavillion  Apartments,  under the original terms,
     until May 1, 2002.  The  Partnership  paid an extension  fee of $24,962 for
     this privilege.

     On August 1, 2001,  the  Partnership  sold Fenland  Field  Apartments to an
     unrelated third party for $14,500,000.  The carrying value of Fenland Field
     Apartments was  approximately  $2,250,000.  The sale included the payoff of
     the  mortgage  owed on the  property of  approximately  $3,640,000  and the
     assumption of the remaining assets and liabilities.

     The General  Partners,  on an ongoing basis,  assess the current and future
     liquidity  needs to  determine  the level of working  capital  reserves the
     Partnership  should maintain.  Adjustments to  distributions  are made when
     appropriate to reflect such  assessments.  The current annual  distribution
     rate is $24.69 per Unit, and is paid semiannually in February and August.





                                       8
<PAGE>

     Operations

     The following  discussion  relates to the operation of the  Partnership and
     its properties  (Fenland Field,  Pavillion and Walden Pond  Apartments) for
     the three and six months ended June 30, 2001 and 2000.

     Net income  increased  during  the three  months  ended June 30,  2001 when
     compared to the three  months ended June 30, 2000 due to increases in total
     revenue more than offsetting  increases in total expenses.  The increase in
     total revenue is primarily a result of rental rate increases implemented at
     all of the  Partnership's  properties  at the end of the first  quarter  of
     2001.

     Total  expenses  for the three months  ended June 30, 2001  increased  when
     compared to the three  months  ended June 30,  2000,  due to  increases  in
     operating expenses, and real estate taxes partially offset by a decrease in
     interest expense.  Operating expenses increased as a result of increases in
     utilities  and payroll  expenses.  Real estate tax expense  increased  as a
     result of a reassessment of property  values by the local taxing  authority
     for Pavillion.  Interest expense  decreased as a result of decreases in the
     prime lending rate.

     Net  income  decreased  during  the six  months  ended  June 30,  2001 when
     compared to the six months  ended June 30, 2000 due to  increases  in total
     expenses more than offsetting  increases in total revenue.  The increase in
     total revenue is primarily a result of rental rate increases implemented at
     all of the  Partnership's  properties  at the end of the first  quarter  of
     2001.

     Total  expenses  for the six months  ended  June 30,  2001  increased  when
     compared  to the six  months  ended  June 30,  2000,  due to  increases  in
     operating  and  general  and  administrative  expense  partially  offset by
     decreases  in real estate taxes and interest  expense.  Operating  expenses
     increased  as a result of  increases  in  utilities  and payroll  expenses.
     General and  administrative  expenses  increased  as a result of  increased
     investor communication costs, including the annual true-up during the three
     months ended March 31, 2001,  which totaled  approximately  $49,000,  which
     includes printing and mailing of quarterly and annual reports.  Real estate
     tax  expense  decreased  as a result of an  adjustment  to the  prior  year
     accrual  for Walden Pond to correct  historical  under  accruals.  Interest
     expense decreased as a result of decreases in the prime lending rate

Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

     The Partnership's  future earnings,  cash flows and fair values relevant to
     financial  instruments  are dependent upon prevalent  market rates.  Market
     risk is the risk of loss from adverse changes in market prices and interest
     rates. The Partnership  manages its market risk by matching  projected cash
     inflows from  operating  activities,  investing  activities  and  financing
     activities   with   projected   cash   outflows  to  fund  debt   payments,
     acquisitions,   capital   expenditures,   distributions   and  other   cash
     requirements.  The majority of the Partnership's outstanding debt (maturing
     at various times through 2002) has a fixed interest rate,  which  minimizes
     the interest rate risk.

     A detailed  analysis of quantitative and qualitative  market risk exposures
     was provided in the  Partnership's  Annual Report on Form 10-K for the year
     ended December 31, 2000. There have been no material changes in market risk
     subsequent to that date.






                                       9
<PAGE>


             KRUPP REALTY LIMITED PARTNERSHIP - IV AND SUBSIDIARIES

                           PART II - OTHER INFORMATION



         Item 1.  Legal Proceedings
                    None

         Item 2.  Changes in Securities
                    None

         Item 3.  Defaults upon Senior Securities
                    None

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

         Item 5.  Other Information
                    None

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































                                       10
<PAGE>

                                    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/ David C. Quade
                                  ----------------------------------------------
                                  Treasurer (Principal Financial and Accounting
                                   Officer) of The Krupp Corporation,
                                   a General Partner






     DATE: August 6, 2001



































                                       11