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    March 31, 1997

                                    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

The total number of pages in this document is 10.
<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
                                                  March 31,    December 31,
                                                    1997           1996    

<S>                                            <C>            <C>
Multi-family apartment complexes, 
 net of accumulated depreciation of 
 $25,236,376 and $24,742,332, respectively      $15,202,721    $15,566,325
Cash and cash equivalents                           640,022        956,012
Replacement reserve escrow                           20,254         31,951
Prepaid expenses and other assets                   396,321        809,579
Deferred expenses, net of accumulated
 amortization of $170,178 and $156,813,
 respectively                                       228,480        241,845

     Total assets                               $16,487,798    $17,605,712    
     

                       LIABILITIES AND PARTNERS' DEFICIT

Liabilities:
  Mortgage notes payable                        $20,002,805    $20,192,138
  Accounts payable                                   20,249         16,938
  Due to affiliates (Note 3)                         40,504         32,392
  Other liabilities                                 751,564      1,206,076

     Total liabilities                           20,815,122     21,447,544

Partners' deficit (Note 2):
  Investor Limited Partners 
   (30,000 Units outstanding)                    (2,707,528)     (2,246,313)
  Original Limited Partner                       (1,317,974)     (1,298,552)
  General Partners                                 (301,822)       (296,967)

     Total Partners' deficit                     (4,327,324)     (3,841,832)

     Total liabilities and Partners' deficit    $16,487,798    $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
<TABLE>
<CAPTION>
                                           

                                                   For the Three Months    
                                                      Ended March 31,    
                                                   1997           1996   
<S>                                            <C>            <C>
Revenue:
 Rental                                         $1,888,824     $1,802,209
 Other income                                       13,833         41,941
        Total revenue                            1,902,657      1,844,150
 
Expenses:
 Operating (Note 3)                                554,268        566,621
 Maintenance                                       116,187        130,977
 Real estate taxes                                 182,954        168,713
 Management fees (Note 3)                           74,293         68,636
 General and administrative (Note 3)                41,202         23,034
 Depreciation and amortization                     507,409        513,998
 Interest                                          320,734        325,207

        Total expenses                           1,797,047      1,797,186

Income before minority interest                    105,610         46,964

Minority interest                                   (1,677)        (1,315)

Net income                                      $  103,933     $   45,649

Allocation of net income (Note 2):

 Investor Limited Partner
  Interest (30,000 Units outstanding)           $   98,737     $   43,367

 Per Unit of Investor Limited 
  Partner Interest                              $     3.29     $     1.45

 Original Limited Partner                       $    4,157     $    1,826
     
 General Partners                               $    1,039     $      456
                                                                         

</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 Three Months
                                                      Ended March 31,    
                                                        1997          1996  

<S>                                                 <C>          <C>
Operating activities:
 Net income                                          $  103,933   $   45,649
 Adjustments to reconcile net income to net
  cash provided by operating activities:
     Depreciation and amortization                      507,409      513,998
     Changes in assets and liabilities:
       Decrease in prepaid expenses and other
        assets                                          413,258      228,628 
       Decrease in other liabilities                   (454,512)    (264,760)
       Increase (decrease) in accounts payable            4,110      (40,095)
       Increase (decrease) in due to affiliates           8,112      (60,312)

         Net cash provided by operating activities      582,310      423,108
Investing activities:
 Deposits to replacement reserve escrow                 (15,715)     (15,715)
 Withdrawals from replacement reserve escrow             27,412       18,186 
 Increase (decrease) in accounts payable for fixed
  asset additions                                          (799)       6,166
 Additions to fixed assets                             (130,440)     (54,561)

         Net cash used in investing activities         (119,542)     (45,924)

Financing activities:
 Principal payments on mortgage notes payable          (189,333)    (184,860)
 Distributions                                         (589,425)    (589,425)

         Net cash used in financing activities         (778,758)    (774,285)

Net decrease in cash and cash equivalents              (315,990)    (397,101)

Cash and cash equivalents, beginning of period          956,012    2,802,694

Cash and cash equivalents, end of period             $  640,022   $2,405,593

</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 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, 1996 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 March 31, 1997, minority interest
   of $24,294 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
   March 31, 1997 and its results of operations and cash flows for the
   three months ended March 31, 1997 and 1996.  Certain prior period
   balances have been reclassified to conform with current period financial
   statement presentation.
  
   The results of operations for the three months ended March 31, 1997 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) Changes in Partners' Deficit

   A summary of changes in Partners' deficit for the three months ended
   March 31, 1997 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, 1996   $(2,246,313) $(1,298,552)  $(296,967) $(3,841,832)
     Net income                 98,737        4,157       1,039      103,933
     Distributions            (559,952)     (23,579)     (5,894)    (589,425)

     Balance at
       March 31, 1997      $(2,707,528) $(1,317,974)  $(301,822) $(4,327,324)

</TABLE>
(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.  These
           management agreements were sold to BRI OP Limited Partnership, 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 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 were as follows:

<TABLE>
<CAPTION>
                                                   For the Three Months
                                                      Ended March 31,  
                                                     1997     1996  

         <S>                                       <C>       <C>
         Property management fees                  $ 74,293  $ 68,636   
       
         Expense reimbursements                      62,337   63,236

            Charged to operations                  $136,630 $131,872    
</TABLE>
     Due to affiliates consisted of expense reimbursements of $40,504 and
$32,392   at March 31, 1997 and December 31, 1996, respectively.


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 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 expects to spend approximately $1,492,000 for capital
improvements in 1997.  In order to fund the improvements, the Partnership
will use its existing cash reserves, reserve for replacement, cash flow
from operations as well as any proceeds received from refinancing.  These
improvements consist of internal and external enhancements which include
the replacement of appliances, carpeting and vinyl flooring at various
properties as well as extensive painting of the building exteriors at
Walden Pond Apartments ("Walden Pond").  The Partnership believes that the
improvements are necessary to compete with current market conditions,
produce quality rental units and absorb excess market demand at the
properties' respective locations and to both maintain and increase its
current occupancy levels.

Currently, the General Partners are reviewing refinancing options for the
Walden Pond mortgage note.  Increased liquidity which may result from this
refinancing will be used to fund capital improvements at the Partnership's
properties.

Cash Flow

Shown below is the calculation of Cash Flow as defined by Section 8.2(a) of
the Partnership Agreement for the three months ended March 31, 1997.  The
General Partners provide 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                             $  (1,000) 

 Items not requiring or (requiring) 
  the use of operating funds:
    Tax basis depreciation and amortization              486,000
    Tax basis principal payments on mortgage             (64,000)
    Expenditures for capital improvements               (130,000)
    Releases from working capital reserves               298,000 

 Cash Flow                                             $ 589,000

</TABLE>
Operations
                          
In comparing the first quarter of 1997 as compared to the same period in
1996,  Cash Flow, as calculated by Section 8.2(a) of the Partnership
Agreement, before releases from working capital reserves, decreased, as the
increase in capital improvements more than offset the increase in net
income.

Total revenue increased for the three months ended March 31, 1997, as
compared to the same period in 1996, as a result of rental rate increases
implemented at all of the Partnership's properties.  This increase is
partially offset by a decrease in interest income due to lower cash and
cash equivalents available for investment.

Total expenses remained stable for the three months ended March 31, 1997,
as compared to the three months ended March 31, 1996, with increases in
real estate taxes, management fees, and general and administrative expense
offset by decreases in operating and maintenance expenses.   Real estate
taxes increased due to increased property value assessments for Indian Run
Apartments and Pavillion Apartments.  Management fees increased in
conjunction with the rise in rental revenue.  General and administrative
expense increased with the increase in legal, mailing and printing costs
related to the Partnership's response to the recent unsolicited tender
offer to purchase Partnership Units.  In addition, increased charges were
incurred in connection with the preparation and mailing of Partnership
reports and other investor communications. These increases are offset by
decreases in operating expense, due to lower advertising and leasing
expenses, and maintenance expense, as a result of external wall repairs,
stairway repairs, paving and landscaping completed in 1996, and increased
snow removal expenditures incurred in 1996.

<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

<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/Wayne H. Zarozny                   
                 Wayne H. Zarozny    
                 Treasurer and Chief Accounting Officer of the Krupp
                 Corporation,a General Partner.

DATE:  May 13, 1997