UNITED STATES
                  SECURITIES AND EXCHANGE COMMISSION
                        WASHINGTON, DC.  20549

                             FORM 10-Q / A
                           Amendment No. 1

(Mark One)

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

For the quarterly period ended           September 30, 2004
                               ---------------------------------------

                                  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                       0-14934
                       -----------------------------------------------

                     DIVERSIFIED HISTORIC INVESTORS
----------------------------------------------------------------------
        (Exact name of registrant as specified in its charter)

     Pennsylvania                                        23-2312037
-------------------------------                    -------------------
(State or other jurisdiction of                    (I.R.S. Employer
incorporation or organization)                      Identification No.)

                 1521 Locust Street, Philadelphia, PA   19102
----------------------------------------------------------------------
           (Address of principal executive offices)   (Zip Code)

Registrant's telephone number, including area code (215) 557-9800
                                                   -------------------


                                    N/A
----------------------------------------------------------------------
(Former name, former address and former fiscal year, if changed since
                             last report)

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

Indicate by check mark whether the registrant is an accelerated filer
(as defined in Rule 12b-2 of the Exchange Act).  Yes       No   X
                                                     -----    -----

<PAGE>

                        EXPLANATORY NOTE

Diversified Historic Investors  (the "Registrant") is filing  the
following  Quarterly  Report on Form 10-Q for  the  period  ended
September  30,  2004 containing consolidated financial statements.

On July 11th, 2005 the Securities and Exchange Commission ("SEC")
notified   the  Registrant  of  its  non-compliance  in   meeting
reporting  requirements  under Section  13(a)  or  15(d)  of  the
Securities  and Exchange Act of 1934. The Registrant's  inability
to  meet its reporting requirements is due to the dissolution  of
its  former auditor, Gross Kreger & Passio, LLC. This  event  was
discussed in Item 4.01 of the Registrant's Form 8-K filed on June
27th, 2005.

The  Registrant  recently  engaged a new  firm,  Russell  Bedford
Stefanou  Mirchandani, LLP to audit and review  the  Registrants'
outstanding  consolidated financial statements. Accordingly,  the
Company is re-filing the Original Filing in its entirety with  an
updated Item 1 of the Original Filing.  The Company has not  made
any other changes to the Original Filing. This Amendment No. 1 on
Form  10-Q/A  continues to speak as of the date of  the  Original
Filing, and the Company has not updated the disclosures contained
therein to reflect any events that occurred at a later date.

 <PAGE>


                 PART I - FINANCIAL INFORMATION

Item 1.   Financial Statements

                 DIVERSIFIED HISTORIC INVESTORS
                 ------------------------------
              (a Pennsylvania limited partnership)

                   CONSOLIDATED BALANCE SHEETS
                   ---------------------------
                             Assets


                              September 30, 2004    December 31, 2003
                              ------------------    -----------------
                                  (Unaudited)


Cash and cash equivalents      $    7,962          $    6,474
Restricted cash                    46,746              78,679
Accounts receivable                13,063               2,559
Other assets (net of
 amortization of
 $39,729 and $38,305)              38,496              21,451
                               ----------          ----------
                                  106,267             109,163
                               ----------          ----------
Rental properties, at cost:
 Land                             294,000             294,000
 Buildings and improvements     3,899,165           3,899,165
 Furniture and fixtures           202,374             202,374
                               ----------          ----------
                                4,395,539           4,395,539
Less - accumulated
 depreciation                  (3,189,441)         (3,061,970)
                               ----------          ----------
                                1,206,098           1,333,569
                               ----------          ----------
     Total                     $1,312,365          $1,442,732
                               ==========          ==========


                Liabilities and Partners' Equity

Liabilities:
 Debt obligations              $3,500,043          $3,500,043
 Accounts payable:
  Trade                           439,929             388,662
  Related parties                 577,356             565,254
  Interest payable              1,190,606           1,157,368
  Tenant security deposits         52,190              39,950
  Other liabilities                 7,957               9,618
                               ----------          ----------
    Total liabilities           5,768,081           5,660,895
Partners' deficit              (4,455,716)         (4,218,163)
                               ----------          ----------
     Total                     $1,312,365          $1,442,732
                               ==========          ==========

The accompanying notes are an integral part of these financial statements.

<PAGE>

                    DIVERSIFIED HISTORIC INVESTORS
                  ---------------------------------
                 (a Pennsylvania limited partnership)

                 CONSOLIDATED STATEMENTS OF OPERATIONS
                 -------------------------------------
                              (Unaudited)

                           Three months            Nine months
                        ended September 30,     ended September 30,
                         2004        2003        2004        2003
                         ----        ----        ----        ----
Revenues:
 Rental income        $134,243    $142,501    $378,520     $429,871
 Interest income           133         426         996          903
                      --------    --------    --------     --------
  Total revenues       134,376     142,927     379,516      430,774
                      --------    --------    --------     --------
Costs and expenses:
 Rental operations      80,854      62,386     274,335      247,969
 Interest               66,899     132,043     213,840      397,802
 Bad debt expense            0         120           0          120
 Depreciation and
  amortization          42,965      49,377     128,895      148,133
                      --------    --------    --------     --------
  Total costs and
   expenses            190,718     243,926     617,070      794,024
                      --------    --------    --------     --------
     Net loss        ($ 56,342)  ($100,999)  ($237,554)   ($363,250)
                      ========    ========    ========     ========


Net loss per limited
partnership unit
                     ($   4.81)  ($   8.61)  ($  20.26)   ($  30.97)
                      ========    ========    ========     ========

The accompanying notes are an integral part of these financial statements.

<PAGE>

                    DIVERSIFIED HISTORIC INVESTORS
                  ---------------------------------
                 (a Pennsylvania limited partnership)

                 CONSOLIDATED STATEMENTS OF CASH FLOWS
                 -------------------------------------
                              (Unaudited)

                                             Nine months ended
                                               September 30,
                                             2004          2003
                                             ----          ----

Cash flows from operating activities:
 Net loss                                  ($237,554)   ($363,250)
 Adjustments to reconcile net loss to
  net cash provided by (used in)
  operating activities:
  Depreciation and amortization              128,895      148,133
 Changes in assets and liabilities:
  Decrease in restricted cash                 31,934       12,671
  (Increase) decrease in accounts            (10,504)       2,497
   receivable                                (18,469)     (18,093)
  Increase in other assets
  Increase in accounts payable - trade        51,267       35,374
  Increase in accounts payable - related      12,102       27,531
   parties
  Increase in interest payable                33,238      164,471
  (Decrease) increase in accrued
   liabilities                                (1,661)         821
  Increase in tenant security deposits        12,240        1,100
                                           ---------   ----------
Net cash provided by operating activities      1,488       11,255
                                           ---------   ----------
Net cash used in investing activities:
 Capital expenditures                              0      (15,377)
                                           ---------   ----------
Net cash used in investing activities              0      (15,377)
                                           ---------   ----------
Increase (decrease) in cash and cash
 equivalents                                   1,488       (4,122)
Cash and cash equivalents at beginning
 of period                                     6,474       13,077
                                           ---------   ----------
Cash and cash equivalents at end of period $   7,962   $    8,955
                                           =========   ==========


The accompanying notes are an integral part of these financial statements.

<PAGE>




                 DIVERSIFIED HISTORIC INVESTORS
                 ------------------------------
              (a Pennsylvania limited partnership)

           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                           (Unaudited)



NOTE 1 - BASIS OF PRESENTATION
------------------------------


The  unaudited  consolidated financial statements of  Diversified
Historic Investors (the "Registrant") and related notes have been
prepared  pursuant to the rules and regulations of the Securities
and  Exchange  Commission.  Accordingly, certain information  and
footnote  disclosures  normally included in financial  statements
prepared   in  accordance  with  generally  accepted   accounting
principles  have  been  omitted  pursuant  to  such   rules   and
regulations.  The accompanying consolidated financial  statements
and  related notes should be read in conjunction with the audited
financial  statements  on  Form 10-Q and  notes  thereto  of  the
Registrant for the year ended December 31, 2003.

The information furnished reflects, in the opinion of management,
all   adjustments,  consisting  of  normal  recurring   accruals,
necessary  for a fair presentation of the results of the  interim
periods presented.


NOTE 2 - EXTRAORDINARY GAIN
---------------------------

During 2003, the remaining Smythe Store units were foreclosed  by
the  mortgage holder resulting in an extraordinary  gain  on  the
extinguishment of debt of $1,929,755.



Item 2.   Management's Discussion and Analysis of Financial
          Condition and Results of Operations

     (1)     Liquidity

              As  of  September 30, 2004, Registrant had cash  of
approximately  $7,962.  Cash generated from  operations  is  used
primarily to fund operating expenses and debt service.   If  cash
flow  proves to be insufficient, the Registrant will  attempt  to
negotiate with the various lenders in order to remain current  on
all  obligations.  The Registrant is not aware of any  additional
sources of liquidity.

              As of September 30, 2004, Registrant had restricted
cash  of  $46,746 consisting primarily of funds held as  security
deposits,  replacement  reserves and  escrows  for  taxes.  As  a
consequence of these restrictions as to use, Registrant does  not
deem these funds to be a source of liquidity.

               In   recent  years  the  Registrant  has  realized
significant  losses, including the foreclosure of six  properties
due to the properties' inability to generate sufficient cash flow
to pay their operating expenses and debt service.  The Registrant
has  first  mortgages  in  place in each  of  its  remaining  two
properties that are cash-flow mortgages, requiring all  available
cash  after payment of operating expenses to be paid to the first
mortgage holder.  Therefore it is unlikely that any cash will  be
available to the Registrant to pay its general and administrative
expenses,  to  pay  debt  service  on  the  past-due  subordinate
mortgage  with respect to the Third Quarter or to  pay  any  debt
service  on  the  two accrual mortgages with  respect  to  Wistar
Alley.

             It is the Registrant's intention to continue to hold
the  properties  until  the lenders on the past  due  subordinate
mortgages seek payment and the properties are foreclosed, or  the
market value of the properties increase to a point where they can
be  sold  at  a price which is sufficient to repay the underlying
indebtedness.

              Since  the  lenders have agreed either to  forebear
from  taking any foreclosure action as long as cash flow payments
are  made, to accrue all debt service in lieu of payment, or have
(in the case of Third Quarter) not moved to declare a default for
a  substantial  period of time after the mortgage due  date,  the
Registrant believes it is appropriate to continue presenting  its
financial statements on a going concern basis.


     (2)     Capital Resources

               Any  capital  expenditures  needed  are  generally
replacement  items and are funded out of cash from operations  or
replacement  reserves,  if  any.  The  Registrant  believes  that
historical  capital expenditure levels are indicative of  capital
requirements in the future and accordingly, does not believe that
it  will  have to commit material resources to capital investment
for the foreseeable future.  If the need for capital expenditures
does  arise,  the  first mortgage holder for  Third  Quarter  and
Wistar  Alley  has agreed to fund capital expenditures  at  terms
similar to the first mortgage.


     (3)     Results of Operations

               During  the  third  quarter  of  2004,  Registrant
incurred  a  net  loss of $56,342 ($4.81 per limited  partnership
unit)  compared  to  a net loss of $100,999  ($8.61  per  limited
partnership  unit) for the same period in 2003.   For  the  first
nine  months  of  2004, the Registrant incurred  a  net  loss  of
$237,554 ($20.26 per limited partnership unit) compared to a  net
loss  of  $363,250 ($30.97 per limited partnership unit) for  the
same period in 2003.

              Rental income decreased $8,258 from $142,501 in the
third quarter of 2003 to $134,243 in the same period in 2004  and
for the first nine months of 2003 decreased $51,351 from $429,871
for the first nine months of 2003 to $378,520 for the same period
in  2004.  The  decreased in rental income from  both  the  third
quarter  and the first nine months of 2003, compared to the  same
periods  in 2004, is due to the foreclosure of the Smythe  Stores
on  October  2, 2003 and a decrease in average occupancy  at  the
Third  Quarter Apartments (98% to 94%) and Wistar Alley  (94%  to
88%).

                Rental operations expense increased $18,468  from
$62,386  in  the  third quarter of 2003 to $80,854  in  the  same
period  in  2004 and for the first nine months increased  $26,366
from  $247,969 during the first nine months of 2003  to  $274,335
for  the  same period in 2004. The increase in rental  operations
expense from both the third quarter and the first nine months  of
2003, compared to the same periods in 2004, is due to an increase
in maintenance expense, utilities expense, insurance expense, and
legal and accounting expenses, partially offset by a decrease  in
leasing  commissions  and miscellaneous  operating  expense.  The
decrease in rental operations at the Smythe Stores is due to  the
foreclosure  of the building on October 2, 2003. The increase  in
maintenance expense is due to an increase in maintenance  service
and  plumbing  and  electrical expenses  at  Wistar  Alley.   The
increase   in  utilities  expense  is  due  to  an  increase   in
electricity  charges at Wistar Alley. The increase  in  insurance
expense at the Third Quarter Apartments is due to changing market
conditions.  The increase in legal and accounting expenses is due
to  the  payment of accrued accounting fees at the Third  Quarter
Apartments.  The  decrease in leasing commissions  at  the  Third
Quarter  Apartments  is due to a decrease in apartment  turnover.
The  decrease  in miscellaneous operating expense  is  due  to  a
decrease  in office expense and Visa/MC/MAC charges at the  Third
Quarter Apartments.

              Interest expense decreased $65,144 from $132,043 in
the  third quarter of 2003 to $66,899 in the same period in  2004
and decreased $183,962 from $397,802 for the first nine months of
2003  to  $213,840 for the same period in 2004. The decreased  in
interest  expense from both the third quarter and the first  nine
months  of 2003, compared to the same periods in 2004, is due  to
the foreclosure of the Smythe Stores on October 2, 2003.

              Losses  incurred during the third  quarter  at  the
Registrant's properties were approximately $57,000,  compared  to
losses of approximately $91,000 for the same period in 2003.  For
the first nine months of 2003 losses incurred at the Registrant's
properties  were  approximately $212,000 compared  to  losses  of
approximately $322,000 for the same period in 2003.

             In the third quarter of 2004, Registrant incurred no
loss at the Smythe Stores condominium complex, compared to a loss
of  $44,000,  including $6,000 of depreciation  expense,  in  the
third  quarter  of  2003.   In the first  nine  months  of  2004,
Registrant  incurred  no loss, compared to a  loss  of  $144,000,
including $19,000 of depreciation expense, for the same period in
2003.

              On  October  2, 2003, the remaining  Smythe  Stores
condominium units were foreclosed by the mortgage holder.   As  a
result  the  Registrant recognized an extraordinary gain  on  the
extinguishment of debt in the amount of $1,929,755, which is  the
excess  of  debt on the property over the net book value  of  the
asset.

              In the third quarter of 2004, Registrant incurred a
loss  of  $33,000  at  the  Third Quarter  Apartments,  including
$20,000 of depreciation and amortization expense, compared  to  a
loss   of   $29,000,   including  $20,000  of  depreciation   and
amortization  expense,  in  the  third  quarter  of  2003.    The
increase in loss from the third quarter of 2003, compared to  the
same  period  in  2004, is due to the decrease in  rental  income
combined  with  an increase in insurance expense  and  legal  and
accounting expenses.  The decrease in rental income is due  to  a
decrease  in  average occupancy (98% to 94%).   The  increase  in
insurance  expense  is  due to changing market  conditions.   The
increase  in legal and accounting expenses is due to the  payment
of accrued accounting fees.

                       For   the  first  nine  months  of   2004,
Registrant  incurred  a  loss  of $98,000  including  $59,000  of
depreciation  and amortization expense, compared  to  a  loss  of
$105,000  including  $59,000  in  depreciation  and  amortization
expense  for the same period in 2003. The decrease in  loss  from
the first nine months of 2003 compared to the same period in 2004
is  due  to  a  decrease in leasing commissions and miscellaneous
operating expense.  The decrease in leasing commissions is due to
a  decrease in apartment turnover.  The decrease in miscellaneous
operating  expense  is due to a decrease in  office  expense  and
Visa/MC/MAC charges.

              In the third quarter of 2004, Registrant incurred a
loss   of   $24,000  at  Wistar  Alley,  including   $23,000   of
depreciation  and amortization expense, compared  to  a  loss  of
$18,000,  including  $23,000  of  depreciation  and  amortization
expense in the third quarter of 2003.  For the first nine  months
of  2004, Registrant incurred a loss of 114,000 including $70,000
of  depreciation and amortization expense, compared to a loss  of
$73,000   including  $70,000  in  depreciation  and  amortization
expense  for the same periods in 2003. The increase in loss  from
both the third quarter and first nine months of 2003 compared  to
the  same  periods in 2004 is due to a decrease in rental  income
combined  with  an increase in maintenance expense and  utilities
expense.   The decrease in rental income is due to a decrease  in
average  occupancy  (94%  to 88%).  The increase  in  maintenance
expense is due to an increase in maintenance service and plumbing
and  electrical expenses.  The increase in utilities  expense  is
due to an increase in electricity charges.



Item 3.   Quantitative and Qualitative Disclosures About Market
          Risk

             All of our assets and liabilities are denominated in
U.S. dollars, and as a result, we do not have exposure to
currency exchange risks.

             We do not engage in any interest rate, foreign
currency exchange rate or commodity price-hedging transactions,
and as a result, we do not have exposure to derivatives risk.


Item 4.    Control and Procedures

              We maintain disclosure controls and procedures that
are  designed to ensure that information required to be disclosed
in  our  Securities  Exchange Act of 1934  reports  is  recorded,
processed,  summarized and reported and that such information  is
accumulated  and  communicated to our management,  including  our
managing  partner's  principal executive  officer  and  principal
financial  officer,  as  appropriate, to allow  timely  decisions
regarding  required disclosure.  In designing and evaluating  the
disclosure  controls  and procedures, our  management  recognized
that any controls and procedures, no matter how well designed and
operated, can provide only reasonable assurance of achieving  the
desired  control  objectives, and our management necessarily  was
required  to  apply its judgment in evaluating  the  cost-benefit
relationship of possible controls and procedures.

              Under  the  supervision of our  managing  partner's
principal  executive officer and principal financial  officer  we
have  carried  out  an  evaluation of the  effectiveness  of  our
adopted disclosure controls and procedures as of the end  of  the
period  covered by this report.  Based upon that evaluation,  our
managing  partner's  president and treasurer concluded  that  our
disclosure controls and procedures are effective.

              There  have  been  no significant  changes  in  our
internal  controls over financial reporting that  has  materially
affected,  or  is  reasonably likely to  materially  affect,  our
internal control over financial reporting during our most  recent
fiscal quarter.

<PAGE>
                   PART II - OTHER INFORMATION

Item 1.   Legal Proceedings

              To  the best of its knowledge, Registrant is a  not
party  to, nor is any of its property the subject of, any pending
material legal proceedings.


Item 4.   Submission of Matters to a Vote of Security Holders

              No  matter was submitted during the quarter covered
by this report to a vote of security holders.


Item 5.   Other Information

             None.


Item 6.   Exhibits

  (a)     Exhibit  Number       Document
          ---------------       --------

              3                 Registrant's    Amended     and
                                Restated Certificate of Limited
                                Partnership  and  Agreement  of
                                Limited Partnership, previously
                                filed as part of Amendment  No.
                                2  of Registrant's Registration
                                Statement  on  Form  S-11,  are
                                incorporated     herein      by
                                reference.

            21                  Subsidiaries of the  Registrant
                                are    listed   in   Item    2.
                                Properties   on   Form    10-K,
                                previously      filed       and
                                incorporated     herein      by
                                reference.

            31                  General     Partners    Opinion
                                Certification

            32                  Certification  Pursuant  to  18
                                U.S.C. Section 1350, As Adopted
                                Pursuant to Section 906 of  the
                                Sarbanes-Oxley Act of 2002

<PAGE>


                           SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act
of  1934, Registrant has duly caused this report to be signed  on
its behalf by the undersigned, thereunto duly authorized.

Date:  August 16, 2006     DIVERSIFIED HISTORIC INVESTORS
       ---------------
                           By: Diversified Historic Advisors,
                               General Partner

                               By: EPK, Inc., Partner

                                   By: /s/  Spencer  Wertheimer
                                       ------------------------
                                        SPENCER WERTHEIMER
                                        President (principal
                                         executive officer,
                                         principal financial
                                         officer) of the
                                         registrant's managing
                                          partner, EPK, Inc.

<PAGE>