| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES |
|---|--------------------------------------------------------------------|

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

| Maryland                                 | 52-1328767                           |
|------------------------------------------|--------------------------------------|
| (State of Incorporation)                 | (I.R.S. Employer Identification No.) |
|                                     |                                 |
| 11200 Rockville Pike                     |                                 |
| Rockville, MD                            | 20852                                |
| (Address of Principal Executive Offices) | (ZIP Code)                           |

----

|      |                                                                   | Page   |
|-----------|------------------------------------------------------------------------|--------|
|      |                                                                   |   |
| Part I    | FINANCIAL INFORMATION                                                  |   |
|      |                                                                   |   |
| Item 1.   | Financial Statements                                                   |   |
|      | Condensed Consolidated Balance Sheets                                  |   |
|      | - September 30, 2012 and December 31, 2011                             | 1      |
|      | Condensed Consolidated Statements of Operations and Accumulated Losses |   |
|      | - for the three and nine months ended September 30, 2012 and 2011      | 2      |
|      | Condensed Consolidated Statements of Cash Flows                        |   |
|      | - for the nine months ended September 30, 2012 and 2011                | 3      |
|      | Notes to Condensed Consolidated Financial Statements                   |   |
|      | - September 30, 2012 and 2011                                          | 4      |
|      |                                                                   |   |
| Item 2.   | Management's Discussion and Analysis of Financial Condition            | 14     |
|      | and Results of Operations                                              |   |
|      |                                                                   |   |
| Item 4.   | Controls and Procedures                                                | 16     |
|      |                                                                   |   |
|      |                                                                   |   |
| Part II   | OTHER INFORMATION                                                      |   |
|      |                                                                   |   |
| Item 1.   | Legal Proceedings                                                      | 16     |
|      |                                                                   |   |
| Item 3.   | Defaults upon Senior Securities                                        | 16     |
|      |                                                                   |   |
| Item 5.   | Other Information                                                      | 17     |
|      |                                                                   |   |
| Item 6.   | Exhibits                                                               | 17     |
|      |                                                                   |   |
| Signature |                                                                   | 18     |

----

| Part I. | FINANCIAL INFORMATION |
|---------|-----------------------|
| Item 1. | Financial Statements  |

|                                                                |   | September 30, |       |   | December 31, |   |
|---------------------------------------------------------------------|--------|---------------|------------|--------|--------------|--------|
|                                                                |   | 2012          |       |   | 2011         |   |
|                                                                |   |          |       |   |         |   |
| Investments in partnerships                                         |   | $             | 1,200,632  |   |         | $      | 1,192,336 |   |
| Investment in partnerships held for sale or transfer                |   |          | -          |   |         |   | 4,767,709 |   |
| Cash and cash equivalents                                           |   |          | 8,863,783  |   |         |   | 3,962,648 |   |
| Acquisition fees, principally paid to related parties,              |   |          |       |   |         |   |   |   |
| net of accumulated amortization of $53,726 and $52,268 respectively |   |          | 24,033     |   |         |   | 25,491 |   |
| Property purchase costs,                                            |   |          |       |   |         |   |   |   |
| net of accumulated amortization of $76,456 and $75,451 respectively |   |          | 16,636     |   |         |   | 17,641 |   |
|                                                                |   |          |       |   |         |   |   |   |
| Total assets                                                        |   | $             | 10,105,084 |   |         | $      | 9,965,825 |   |
|                                                                |   |          |       |   |         |   |   |   |
|                                                                |   |          |       |   |         |   |   |   |

|                                    |   |   |        |   |   |   |
|-----------------------------------------|--------|--------|-------------|--------|--------|--------|
| Due on investments in partnerships      |   | $      | 1,340,000   |   |   | $      | 1,340,000 |   |
| Accrued interest payable                |   |   | 7,598,852   |   |   |   | 7,225,145 |   |
| Accounts payable and accrued expenses   |   |   | 137,069     |   |   |   | 206,365 |   |
|                                    |   |   |        |   |   |   |   |   |
| Total liabilities                       |   |   | 9,075,921   |   |   |   | 8,771,510 |   |
|                                    |   |   |        |   |   |   |   |   |
| Commitments and contingencies           |   |   |        |   |   |   |   |   |
|                                    |   |   |        |   |   |   |   |   |
| Partners' capital                       |   |   |        |   |   |   |   |   |
|                                    |   |   |        |   |   |   |   |   |
| Capital paid-in:                        |   |   |        |   |   |   |   |   |
| General Partners                        |   |   | 2,000       |   |   |   | 2,000 |   |
| Limited Partners                        |   |   | 73,501,500  |   |   |   | 73,501,500 |   |
|                                    |   |   |        |   |   |   |   |   |
|                                    |   |   | 73,503,500  |   |   |   | 73,503,500 |   |
|                                    |   |   |        |   |   |   |   |   |
| Less:                                   |   |   |        |   |   |   |   |   |
| Accumulated distributions to partners   |   |   | (23,219,810 | )      |   |   | (23,219,810 | ) |
| Offering costs                          |   |   | (7,562,894  | )      |   |   | (7,562,894 | ) |
| Accumulated losses                      |   |   | (41,691,633 | )      |   |   | (41,526,481 | ) |
|                                    |   |   |        |   |   |   |   |   |
| Total partners' capital                 |   |   | 1,029,163   |   |   |   | 1,194,315 |   |
|                                    |   |   |        |   |   |   |   |   |
| Total liabilities and partners' capital |   | $      | 10,105,084  |   |   | $      | 9,965,825 |   |
|                                    |   |   |        |   |   |   |   |   |

----

| Part I. | FINANCIAL INFORMATION |
|---------|-----------------------|
| Item 1. | Financial Statements  |

|                                            |   | For the nine months ended |        |   | For the three months ended |   |
|-------------------------------------------------|--------|---------------------------|-------------|--------|----------------------------|--------|
|                                            |   | September 30,             |        |   | September 30,              |   |
|                                            |   | 2012                      |        |   | 2011                       |   |   | 2012 |   |   | 2011 |   |
|                                            |   |                      |        |   |                       |   |   |   |   |   |   |   |
| Share of income from partnerships               |   | $                         | 782,530     |   |                       | $      | 884,703 |   |   | $ | 179,945 |   |   | $ | 175,968 |   |
|                                            |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Other revenue and expenses                      |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|                                            |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Revenue:                                        |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Interest                                        |   |                      | 7,733       |   |                       |   | 7,689 |   |   |   | 4,245 |   |   |   | 2,485 |   |
| Other Income                                    |   |                      | 50,916      |   |                       |   | - |   |   |   | 5,000 |   |   |   | - |   |
|                                            |   |                      | 58,649      |   |                       |   | 7,689 |   |   |   | 9,245 |   |   |   | 2,485 |   |
|                                            |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Expenses:                                       |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Interest                                        |   |                      | 373,707     |   |                       |   | 352,071 |   |   |   | 124,569 |   |   |   | 117,357 |   |
| Management fee                                  |   |                      | 281,250     |   |                       |   | 281,250 |   |   |   | 93,750 |   |   |   | 93,750 |   |
| General and administrative                      |   |                      | 177,153     |   |                       |   | 188,060 |   |   |   | 72,842 |   |   |   | 49,774 |   |
| State tax                                       |   |                      | 300         |   |                       |   | 9,765 |   |   |   | - |   |   |   | 8,064 |   |
| Professional fees                               |   |                      | 171,458     |   |                       |   | 178,169 |   |   |   | 62,645 |   |   |   | 29,344 |   |
| Amortization of deferred costs                  |   |                      | 2,463       |   |                       |   | 2,463 |   |   |   | 821 |   |   |   | 821 |   |
|                                            |   |                      | 1,006,331   |   |                       |   | 1,011,777 |   |   |   | 354,627 |   |   |   | 299,110 |   |
|                                            |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Total other revenue and (expenses)              |   |                      | (947,682    | )      |                       |   | (1,004,088 | ) |   |   | (345,382 | ) |   |   | (296,625 | ) |
|                                            |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|                                            |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                                        |   | $                         | (165,152    | )      |                       | $      | (119,385 | ) |   | $ | (165,437 | ) |   | $ | (120,657 | ) |
|                                            |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Accumulated losses, beginning of period         |   |                      | (41,526,481 | )      |                       |   | (43,088,158 | ) |   |   | (41,526,196 | ) |   |   | (43,086,886 | ) |
|                                            |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Accumulated losses, end of period               |   | $                         | (41,691,633 | )      |                       | $      | (43,207,543 | ) |   | $ | (41,691,633 | ) |   | $ | (43,207,543 | ) |
|                                            |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
|                                            |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Net loss allocated to General Partners (1.51%)  |   | $                         | (2,494      | )      |                       | $      | (1,803 | ) |   | $ | (2,499 | ) |   | $ | (1,822 | ) |
|                                            |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Net loss allocated to Initial and               |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Special Limited Partners (1.49%)                |   | $                         | (2,461      | )      |                       | $      | (1,779 | ) |   | $ | (2,465 | ) |   | $ | (1,798 | ) |
|                                            |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Net loss allocated to                           |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Additional Limited Partners (97%)               |   | $                         | (160,197    | )      |                       | $      | (115,803 | ) |   | $ | (160,474 | ) |   | $ | (117,037 | ) |
|                                            |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Net loss per unit of Additional Limited Partner |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |
| Interest based on 73,337 units outstanding      |   | $                         | (2.18       | )      |                       | $      | (1.58 | ) |   | $ | (2.19 | ) |   | $ | (1.60 | ) |
|                                            |   |                      |        |   |                       |   |   |   |   |   |   |   |   |   |   |   |

----

| Part I. | FINANCIAL INFORMATION |
|---------|-----------------------|
| Item 1. | Financial Statements  |

|                                                           |   | For the nine months ended |      |
|----------------------------------------------------------------|--------|---------------------------|-----------|
|                                                           |   | September 30,             |      |
|                                                           |   | 2012                      |      |   | 2011 |   |
|                                                           |   |                      |      |   |   |   |
|                                                           |   |                      |      |   |   |   |
| Cash flows from operating activities:                          |   |                      |      |   |   |   |
| Net loss                                                       |   | $                         | (165,152  | ) |   | $ | (119,385 | ) |
|                                                           |   |                      |      |   |   |   |   |   |
| Adjustments to reconcile net income to net cash                |   |                      |      |   |   |   |   |   |
| used in operating activities:                                  |   |                      |      |   |   |   |   |   |
| Share of income from partnerships                              |   |                      | (782,530  | ) |   |   | (884,703 | ) |
| Amortization of deferred costs                                 |   |                      | 2,463     |   |   |   | 2,463 |   |
|                                                           |   |                      |      |   |   |   |   |   |
|                                                           |   |                      |      |   |   |   |   |   |
| Changes in assets and liabilities:                             |   |                      |      |   |   |   |   |   |
| Decrease in other assets                                       |   |                      | -         |   |   |   | 2,382 |   |
| Increase in accrued interest payable                           |   |                      | 373,707   |   |   |   | 352,071 |   |
| Increase (decrease) in accounts payable                        |   |                      |      |   |   |   |   |   |
| and accrued expenses                                           |   |                      | 704       |   |   |   | (28,438 | ) |
|                                                           |   |                      |      |   |   |   |   |   |
|      Net cash used in operating activities |   |                      | (570,808  | ) |   |   | (675,610 | ) |
|                                                           |   |                      |      |   |   |   |   |   |
| Cash flows from investing activities:                          |   |                      |      |   |   |   |   |   |
| Receipt of distributions from partnerships                     |   |                      | 5,541,943 |   |   |   | 415,550 |   |
| Disposition fee paid                                           |   |                      | (70,000   | ) |   |   | - |   |
|                                                           |   |                      |      |   |   |   |   |   |
| Net cash provided by investing activities                      |   |                      | 5,471,943 |   |   |   | 415,550 |   |
|                                                           |   |                      |      |   |   |   |   |   |
|                                                           |   |                      |      |   |   |   |   |   |
| Net increase (decrease) in cash and cash equivalents           |   |                      | 4,901,135 |   |   |   | (260,060 | ) |
|                                                           |   |                      |      |   |   |   |   |   |
| Cash and cash equivalents, beginning of year                   |   |                      | 3,962,648 |   |   |   | 4,359,494 |   |
|                                                           |   |                      |      |   |   |   |   |   |
| Cash and cash equivalents, end of year                         |   | $                         | 8,863,783 |   |   | $ | 4,099,434 |   |

----

----

| PROPERTY         | CITY          | STATE | UNITS |
|------------------|---------------|-------|-------|
| Fairways         | Naperville    | IL    | 210   |
| Northridge Park  | Salinas       | CA    | 104   |
| Tradewinds       | Traverse City | MI    | 122   |
| Westport Village | Freeport      | IL    | 121   |

----

|                                      |   |  For the three months ended |    |
|-------------------------------------------|--------|----------------------------------|---------|
|                                      |   |  September 30,              |    |
|                                      |   | 2012                             |    |   |   2011 |   |
|                                      |   | Equity                           |    |   |   |   |   | Equity |   |   |
|                                      |   | Method                           |    |   | Suspended |   |   | Method | Suspended |   |
|                                      |   |                             |    |   |   |   |   |   |   |
| Number of Local Partnerships              |   |                             | 1       | (c) |   |   | 3 | (b) |   |   | 2 | (a) |   |   | 3 | (b) |
|                                      |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenue:                                  |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Rental                                    |   | $                                | 177,839 |   |   | $ | 1,075,362 |   |   | $ | 420,884 |   |   | $ | 1,049,851 |   |
| Other                                     |   |                             | 36,611  |   |   |   | 67,306 |   |   |   | 71,072 |   |   |   | 66,653 |   |
|                                      |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total revenue                             |   |                             | 214,450 |   |   |   | 1,142,668 |   |   |   | 491,956 |   |   |   | 1,116,504 |   |
|                                      |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Expenses:                                 |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating                                 |   |                             | 180,572 |   |   |   | 579,000 |   |   |   | 265,705 |   |   |   | 596,274 |   |
| Interest                                  |   |                             | --      |   |   |   | 156,185 |   |   |   | -- |   |   |   | 175,767 |   |
| Depreciation and amortization             |   |                             | 31,083  |   |   |   | 166,280 |   |   |   | 47,268 |   |   |   | 207,418 |   |
|                                      |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total expenses                            |   |                             | 211,655 |   |   |   | 901,465 |   |   |   | 312,973 |   |   |   | 979,459 |   |
|                                      |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                                |   | $                                | 2,795   |   |   | $ | 241,203 |   |   | $ | 178,983 |   |   | $ | 137,045 |   |
|                                      |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash distribution                         |   | $                                | --      |   |   | $ | 177,180 |   |   | $ | -- |   |   | $ | -- |   |
|                                      |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash distribution recorded                |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| as income                                 |   | $                                | --      |   |   | $ | 177,180 |   |   | $ | -- |   |   | $ | -- |   |
|                                      |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Partnership's share of Local              |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Partnership net income |   |                             | 2,765   |   |   |   | -- |   |   |   | 175,968 |   |   |   | -- |   |
|                                      |   |                             |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Share of income from partnerships         |   |  $179,945              |    |   |  $175,968 |   |

----

|                                 |   | For the nine months ended |    |
|--------------------------------------|--------|---------------------------|---------|
|                                 |   | September 30,             |    |
|                                 |   | 2012                      |    |   | 2011 |   |
|                                 |   | Equity                    |    |   |   |   |   | Equity |   |   |   |   |
|                                 |   | Method                    |    |   | Suspended |   |   | Method |   |   | Suspended |   |
|                                 |   |                      |    |   |   |   |   |   |   |   |   |   |
| Number of Local Partnerships         |   |                      | 1       | (c) |   |   | 3 | (b) |   |   | 2 | (a) |   |   | 3 | (b) |
|                                 |   |                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenue:                             |   |                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Rental                               |   | $                         | 533,516 |   |   | $ | 3,188,620 |   |   | $ | 1,322,497 |   |   | $ | 3,141,318 |   |
| Other                                |   |                      | 109,831 |   |   |   | 173,733 |   |   |   | 147,060 |   |   |   | 163,386 |   |
|                                 |   |                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total revenue                        |   |                      | 643,347 |   |   |   | 3,362,353 |   |   |   | 1,469,557 |   |   |   | 3,304,704 |   |
|                                 |   |                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Expenses:                            |   |                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Operating                            |   |                      | 541,715 |   |   |   | 1,746,770 |   |   |   | 850,133 |   |   |   | 1,720,381 |   |
| Interest                             |   |                      | --      |   |   |   | 468,555 |   |   |   | -- |   |   |   | 527,302 |   |
| Depreciation and amortization        |   |                      | 93,251  |   |   |   | 498,839 |   |   |   | 141,803 |   |   |   | 622,253 |   |
|                                 |   |                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total expenses                       |   |                      | 634,966 |   |   |   | 2,714,164 |   |   |   | 991,936 |   |   |   | 2,869,936 |   |
|                                 |   |                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net income                           |   | $                         | 8,381   |   |   | $ | 648,189 |   |   | $ | 477,621 |   |   | $ | 434,768 |   |
|                                 |   |                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash distribution                    |   | $                         | --      |   |   | $ | 774,234 |   |   | $ | -- |   |   | $ | 415,550 |   |
|                                 |   |                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash distribution recorded as income |   | $                         | --      |   |   | $ | 774,234 |   |   | $ | -- |   |   | $ | 415,550 |   |
|                                 |   |                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Partnership’s share of Local   |   |                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Partnership net income               |   |                      | 8,296   |   |   |   | -- |   |   |   | 469,153 |   |   |   | -- |   |
|                                 |   |                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Share of income from partnerships    |   | $782,530                  |    |   | $884,703 |   |
|                                 |   |                      |    |   |   |   |   |   |   |   |   |   |   |   |   |   |

|   | (a)    | Mary Allen West Tower; Tradewinds          |
|--------|--------|--------------------------------------------|
|   | (b)    | Fairway Park; Northridge; Westport Village |
|   | (c)    | Tradewinds                                 |
|   |   |                                       |

----

|   |   Property      |   Principal | Accrued Interestas ofSeptember 30, 2012 |   Maturity |
|--------|----------------------|------------------|-----------------------------------------|-----------------|
|   |
|   |
|   | Westport Village (1) | $840,000         | $3,137,285                              | 09/01/99        |

----

----

----

| Investments in partnerships at December 31, 2011:  | $      | 1,192,336 |   |
|----------------------------------------------------|--------|-----------|--------|
|                                               |   |      |   |
| Share of income from partnerships                  |   | 782,530   |   |
| Distribution from Local Partnership                |   | (774,234  | )      |
|                                               |   |      |   |
| Investments in partnerships at September 30, 2012: | $      | 1,200,632 |   |

| Investments in partnerships held for sale |   |       |
|-------------------------------------------|--------|------------|
| or transfer at December 31, 2011:         | $      | 4,767,709  |   |
|                                      |   |       |   |
| Distribution from Local Partnership       |   | (4,767,709 | ) |
|                                      |   |       |   |
| Investments in partnerships held for sale |   |       |   |
| or transfer at September 30, 2012:        | $      | --         |   |

----

| Tradewinds Terrace | 2012                               | 2011                               |
|--------------------|------------------------------------|------------------------------------|
| Total Assets       |     $1,398,924 |     $1,447,506 |
| Total Liabilities  |     $70,373    |     $88,256    |
| Revenue            |     $643,347   |     $682,074   |
| Net Income         |     $8,381     |     $109,530   |

----

----

| Part I. | FINANCIAL INFORMATION                            |
|---------|--------------------------------------------------|
| Item 2. | Management's Discussion and Analysis             |
|    | of Financial Condition and Results of Operations |

----

| Part I. | FINANCIAL INFORMATION                                        |
|---------|--------------------------------------------------------------|
| Item 2. | Management's Discussion and Analysis                         |
|    | of Financial Condition and Results of Operations - Continued |

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| Part I. | FINANCIAL INFORMATION   |
|---------|-------------------------|
| Item 4. | Controls and Procedures |

| Part II. | OTHER INFORMATION |
|----------|-------------------|
| Item 1.  | Legal Proceedings |

| Item 3. | Defaults upon Senior Securities |
|---------|---------------------------------|

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| Part II. | OTHER INFORMATION |
|----------|-------------------|
| Item 5.  | Other Information |

| Item 6. |  Exhibits |
|---------|----------------|

| Exhibit No. |   | Description                                                                                                                                                                             |
|-------------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|        |   |                                                                                                                                                                                    |
| 31.1        |   | Certification of Principal Executive Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                 |
|        |   |                                                                                                                                                                                    |
| 31.2        |   | Certification of Principal Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.                                 |
|        |   |                                                                                                                                                                                    |
| 32          |   | Certification of Principal Executive Officer and Principal Financial Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. |

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|             |   |   | CAPITAL REALTY INVESTORS-IV |
|------------------|--------|--------|-----------------------------|
|             |   |   |                        | LIMITED PARTNERSHIP |
|             |   |   | (Registrant)                |
|             |   |   |                        |
|             |   |   | by:                         | C.R.I., Inc. |
|             |   |   |                        | Managing General Partner |
|             |   |   |                        |   |
|             |   |   |                        |   |
|             |   |   |                        |   |
|             |   |   |                        | by: | /s/ H. William Willoughby |
| November 9, 2012 |   |   |                        |   | H. William Willoughby |
| DATE             |   |   |                        |   | Director, President, Secretary, |
|             |   |   |                        |   | Principal Financial Officer and |
|             |   |   |                        |   |   | Principal Accounting Officer |