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

                  FORM 10-Q
(Mark One)
 
  QUARTERLY REPORT PURSUANT TO SECTION 13 OR
  15(d) OF THE SECURITIES EXCHANGE ACT OF
  1934

For the quarterly period ended    June 30,1997 
                                     
                     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          0-14393      
 


 Krupp Cash Plus Limited Partnership          
         

             Massachusetts                    
              04-2865878      
(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
13.















PART I.  FINANCIAL INFORMATION

Item 1.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 CASH PLUS LIMITED PARTNERSHIP 

BALANCE SHEETS
           

ASSETS

<TABLE>
<CAPTION>
                                         June 30,   December 31,
                                           1997         1996   

Real estate assets:
 Retail centers, less accumulated                   
  depreciation of $18,348,165 and 
<S>                                     <C>         <C>
  $17,342,753, respectively             $27,993,786 $28,908,119
 Mortgage-backed securities ("MBS"), net
  of accumulated amortization (Note 5)    4,078,311   4,373,246
 
      Total real estate assets           32,072,097  33,281,365

Cash and cash equivalents (Note 2)        4,774,801   4,043,066
Other assets                                726,150     616,379

      Total assets                      $37,573,048 $37,940,810


LIABILITIES AND PARTNERS' EQUITY
       
Liabilities:
 Accounts payable                       $    32,376 $    46,238
 Due to affiliates (Note 6)                    -         26,735
 Accrued expenses and other liabilities
   (Note 3)                               1,096,060     843,385

      Total liabilities                   1,128,436     916,358

Partners' equity (deficit) (Note 4):
  Unitholders (4,000,000 Units outstanding)36,621,367 37,188,551
  Corporate Limited Partner (100 Units
  outstanding)                                1,144       1,159
  General Partners                         (177,899)   (165,258)

      Total Partners' equity             36,444,612  37,024,452

      Total liabilities and Partners'
      equity                            
                                        $37,573,048 $37,940,810 

</TABLE>


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

>page>
               KRUPP CASH PLUS LIMITED PARTNERSHIP

                    STATEMENTS OF OPERATIONS
                                       
 

    For the Three Months                For the Six Months
       Ended June 30,                     Ended June 30,   
     1997         1996                  1997         1996  
<TABLE>
<CAPTION>

Revenue:
  <S>                  <C>          <C>        <C>       <C> 
  Rental               $1,452,943   $1,471,040 $2,904,956$3,018,076
  Interest income - MBS
     (Note 5)              86,814     100,160    178,724   206,545
  Interest income - other  67,111    51,235      127,517    95,734

     Total revenue      1,606,868   1,622,435  3,211,197  3,320,355
   

Expenses:
  Operating (Note 6)      335,879     332,833    616,184   594,060
  Maintenance              78,867      82,361    153,163   158,193
  General and administra-
     tive (Note 6)        101,262      27,264    199,617    71,943
  Real estate taxes       246,810     293,355    551,268   588,607
  Management fees (Note 6) 70,193      81,585   141,838    144,084
  Depreciation            507,262     512,833  1,005,412 1,005,750
  
     Total expenses     1,340,273   1,330,231  2,667,482 2,562,637
  
Net income             $  266,595  $  292,204 $  543,715$  757,718
  

Allocation of net income
  (Note 4):

  Unitholders (4,000,000
     Units outstanding)$  261,256  $  286,353 $  532,827$ 742,545

  Net income per Unit of 
     Depositary Receipt$      .06  $      .08 $      .13$     .19

  Corporate Limited
     Partner (100 Units
     outstanding)      $        6  $        8 $       13$      19

  General Partners     $    5,333  $    5,843 $   10,875$  15,154

</TABLE>













             The accompanying notes are an integral
                part of the financial statements.
<PAGE>
               KRUPP CASH PLUS LIMITED PARTNERSHIP

                    STATEMENTS OF CASH FLOWS
                                          

                                             For the Six Months
                                                Ended June 30,    
<TABLE>
<CAPTION>
  
                                              1997          1996  


Operating activities:
  <S>                                     <C>          <C> 
  Net income                              $   543,715  $   757,718
  Adjustments to reconcile net income to net
     cash provided by operating activities:
      Depreciation                          1,005,412    1,005,750
      Amortization of MBS premium, net            961          994
      Changes in assets and liabilities:  
        Decrease (increase) in other assets (109,771)       11,324
       Decrease in accounts payable            (3,298)     (3,558)
          Decrease in due to affiliates       (26,735)       -
          Increase in accrued expenses and other
          liabilities                         252,675      224,425
  
            Net cash provided by operating
               activities                   1,662,959    1,996,653
  
Investing activities:
  Increase in other investments                  -       (492,256)
  Additions to fixed assets                   (91,079)    (421,274)
  Decrease in accounts payable for fixed
     asset additions                          (10,564)       -
  Principal collections on MBS                293,974      453,882
  
            Net cash provided by (used in) 
               investing activities           192,331    (459,648)
  
Financing activity:
  Distributions                                        
                                          (1,123,555)   (1,110,841)

Net increase in cash and cash equivalents    731,735       426,164
  
Cash and cash equivalents, beginning of period 4,043,066 2,841,353
  
Cash and cash equivalents, end of period  $ 4,774,801  $ 3,267,517
</TABLE>

















              The accompanying notes are an integral
                 part of the financial statements.
<PAGE>
               KRUPP CASH PLUS LIMITED PARTNERSHIP

                  NOTES TO 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 Cash Plus
Limited Partnership (the "Partnership"), the
disclosures contained in this Report are
adequate to make the information presented not
misleading.  See Notes to 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.

In the opinion of the General Partners of the
Partnership, the accompanying unaudited
financial statements reflect all adjustments
(consisting of only normal recurring accruals)
necessary to present fairly the Partnership's
financial position as of June 30, 1997, its
results of operations for the three and six
months ended June 30, 1997 and 1996 and its
cash flows for the six months ended June 30,
1997 and 1996. 

The results of operations for the three and
six months ended June 30, 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)Cash and Cash Equivalents

Cash and cash equivalents consisted of the
following:
<TABLE>
<CAPTION>
                                        June 30,    December 31, 
                                          1997          1996     

      <S>                             <C>           <C>
      Cash and money market accounts  $  819,008    $   579,264
      Commercial paper                 3,955,793      3,463,802
   
                                      $4,774,801    $ 4,043,066
</TABLE>
At June 30, 1997, commercial paper represents
corporate issues complying with Section 6.2(a)
of the Partnership Agreement purchased through
a corporate issuer maturing in the third
quarter of 1997.  At June 30, 1997, the
carrying value of the Partnership's investment
in commercial paper approximates fair value.

(3)Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities
consisted of the following:
<TABLE>
<CAPTION>
                                        June 30,   December 31, 
                                          1997         1996   

   <S>                                <C>          <C> 
   Accrued real estate taxes          $   802,013  $   582,835
   Deferred income and other accrued               
     expenses                             236,620      211,606
   Tenant security deposits                57,427       48,944

                                      $ 1,096,060  $   843,385
</TABLE>

Continued
               KRUPP CASH PLUS LIMITED PARTNERSHIP

            NOTES TO FINANCIAL STATEMENTS - Continued
                                      


(4)Changes in Partners' Equity

A summary of changes in Partners' equity
(deficit) for the six months ended June 30,
1997 is as follows:
<TABLE>
<CAPTION>
      Corporate                        Total 
      Limited             General     Partners'
      Unitholders        Partner     Partners    Equity   

    Balance at 
      <C>                <C>         <C>       <C>       <C>
      December 31, 1996  $37,188,551 $   1,159 $(165,258)$37,024,452

    Net income               532,827        13    10,875     543,715

    Distributions         (1,100,011)      (28)  (23,516) (1,123,555)

    Balance at June 30, 1997$36,621,367$   1,144$(177,899)$36,444,612

</TABLE>
(5)Mortgage Backed Securities
                                          
The MBS held by the Partnership are issued by
the Federal Home Loan Mortgage Corporation and
the Government National Mortgage Association. 
Additional information on the MBS held is as
follows:

<TABLE>
<CAPTION>
                                         June 30,   December 31,
                                           1997        1996   

      <S>                               <C>         <C>
      Face Value                        $4,063,988  $4,357,962

      Amortized Cost                    $4,078,311  $4,373,246

      Estimated Market Value            $4,225,000  $4,516,000
</TABLE>
Coupon rates of the MBS range from 8.5% to
9.0% per annum and mature in the years 2008
through 2017.  The Partnership's MBS portfolio
had gross unrealized gains of approximately
$147,000 and $143,000 at June 30, 1997 and
December 31, 1996, respectively.  The
Partnership does not expect to realize these
gains as it currently has the ability to hold
the MBS until maturity.
                                          
(6)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
up to 6% of the gross receipts, net of leasing
commissions from commercial properties under
management.  The Partnership also reimburses
affiliates of the General Partners for certain
expenses incurred in connection with the
operation of the Partnership and its 
properties including accounting, computer,
insurance, travel, legal and payroll; and with
the preparation and mailing of reports and
other communications to the Unitholders.


                           Continued

              KRUPP CASH PLUS LIMITED PARTNERSHIP

           NOTES TO FINANCIAL STATEMENTS - Continued

                                      


(6)Related Party Transactions,            
Continued

Amounts accrued or paid to the General
Partners or their affiliates were as follows:
<TABLE>
<CAPTION>
             For the Three Months       For the Six Months
                 Ended June 30,           Ended June 30, 
               1997           1996        1997    1996  

<S>                     <C>     <C>     <C>      <C>
Property management fees$70,193 $81,585 $141,838 $144,084
      
Expense reimbursements  100,285  65,697187,605    139,477

Charged to operations  $170,478 $147,282 $329,443 $283,561
</TABLE>
   Due to affiliates consisted of expense reimbursements of
$26,735 at   December 31, 1996.
      <PAGE>
KRUPP CASH PLUS LIMITED PARTNERSHIP
          

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 real
estate investments.  Liquidity is also
generated by the MBS portfolio.  The
Partnership's sources of future liquidity will
be used for payment of expenses related to
real estate operations, capital expenditures
including tenant build-outs to secure quality
tenants, and other administrative expenses. 
Cash flow, if any, as calculated under Section
17 of the Partnership Agreement, will then be
available for distribution to the Partners.

The Partnership continuously strives to
improve net income, maintain high occupancy
and retain quality tenants at its retail
centers.  However, to attain these objectives,
the Partnership has found it necessary to fund
a significant portion of tenant build-outs.

The Partnership completed improvements at High
Point National Furniture Mart ("High Point")
which were necessary to reconfigure space for
new tenants and comply with present building
code standards.  In 1996, renovations to
showrooms of the building were completed,
along with upgrades to the elevator system. 
The refurbished showroom spaces have enabled
the property to command higher rents and
maintain 100% occupancy.  In 1997, the
Partnership is planning to spend approximately
$217,000 for improvements, most of which are
enhancements to the exteriors of the building.

At Tradewinds Shopping Center ("Tradewinds"),
management has negotiated the expansion of an
anchor tenant from its existing 50,181 square
foot space to 66,000 square feet.  The
Partnership and the tenant each intend to
spend approximately $4,200,000 for the
buildout.  The Partnership's portion will
mainly fund exterior improvements, while the
tenant's portion will mainly fund interior
renovation specifications.  Completion of the
project is scheduled for the fourth quarter of
1997.  The new lease agreement with the anchor
tenant includes a significant increase in
lease rent which will favorably impact
Partnership liquidity.  In order to fund the
expansion, the Partnership plans to utilize
its cash reserves as well as any proceeds
received from the possible financing of its
mortgage backed securities portfolio in 1997.

At Luria's Plaza, the Partnership is planning
to spend approximately $120,000 for capital
improvements in 1997, most of which are tenant
build-outs which the General Partners believe
are necessary to maintain or increase its
current occupancy level.

Liquidity provided by the MBS is derived
primarily from interest income, scheduled
principal payments and prepayments of the
portfolio.  The level of prepayments is
contingent upon the interest rate environment,
which in turn, affects the Partnership's
liquidity.




Continued
KRUPP CASH PLUS LIMITED PARTNERSHIP
          


Liquidity and Capital Resources - Continued

The Partnership holds MBS that are guaranteed
by the Government National Mortgage
Association ("GNMA") and the Federal Home Loan
Mortgage Corporation ("FHLMC").  The principal
risks with respect to MBS are the credit
worthiness of GNMA and FHLMC and the risk that
the current value of any MBS may decline as a
result of changes in market interest rates. 
Currently, the General Partners believe that
the market interest rate risk is minimal due
to the fact that the Partnership has the
ability to hold these securities to maturity.

The General Partners, on an ongoing basis,
assess the current and future liquidity needs
in determining the levels of working capital
reserves the Partnership should maintain. 
Adjustments to distributions are made when
appropriate to reflect such assessments. 
Based on current assessments, the General
Partners have determined  that retaining the
current annualized distribution rate of $0.55
per Unit will allow the Partnership to
maintain adequate reserves.
























Continued
<PAGE>
KRUPP CASH PLUS LIMITED PARTNERSHIP
          

Distributable Cash Flow and Net Proceeds from
Capital Transactions

Shown below is the calculation of
Distributable Cash Flow and Net Proceeds from
Capital Transactions as defined by Section 17
of the Partnership Agreement for six months
ended June 30, 1997 and the period from
inception through June 30, 1997.  The General
Partners provide the information below to meet
requirements of the Partnership Agreement. 
However, Distributable Cash Flow and Net
Proceeds from Capital Transactions should not
be considered by the reader as a substitute to
net income, as an indicator of the
Partnership's operating performance or to cash
flows as a measure of liquidity.
<TABLE>
<CAPTION>
                                    (In $1,000's except per Unit amounts)
                                      For the Six MonthsInception to
                                        Ended June 30,  June 30,
                                             1997           1997    
  Distributable Cash Flow:           
  <S>                                     <C>          <C>
  Net income for tax purposes             $  712       $ 24,368 
  Items providing/not requiring or                
   (not providing) the use of operating funds:
    Tax basis depreciation and amortization  854         19,069
    Interest income on note receivable        -            (371)
    Gain on sale of assets                    -          (1,686)
    Additions to fixed assets                (91)        (8,861)
    Cash from vacancy guarantee on
     Luria's Plaza                            -             873
    Fixed asset additions funded from cash 
     reserves                                 -             865
    Operating reserve for fixed asset
     additions                                -          (1,070)

   Total Distributable Cash Flow ("DCF")  $1,475       $ 33,187
   Unitholders' Share of DCF              $1,445       $ 32,523
   Unitholders' Share of DCF per Unit     $  .36       $   8.13 (d)
   General Partners' Share of DCF         $   30       $    664
  Net Proceeds from Capital Transactions:
   Principal collections on MBS, net      $  295       $ 15,526
   Proceeds from sale of MBS                  -          19,018
   Net proceeds from sale of property 
    including interest on mortgage            
    note receivable                           -           1,208
   Mortgage note                              -           7,150
   Reinvestment of MBS principal 
    collections                               -         (16,141)
   Total Net Proceeds from Capital 
    Transactions                          $  295       $ 26,761
  Distributions:
   Unitholders                            $1,100 (a)   $ 57,083 (b)(c)
   Unitholders' Average per Unit          $  .28 (a)   $  14.28 (b)(c)(d)
   General Partners                       $   30 (a)   $    663 (b) 
   Total Distributions                    $1,130 (a)   $ 57,746 (b)(c)
</TABLE>
(a)   Represents distributions to be paid in 1997, including an
      estimate of the distribution to be paid in August, 1997.
(b)   Includes an estimate of the distribution to be paid in
      August, 1997.
(c)   Includes a $7,150,000 note which was distributed from the
      Partnership to the Evergreen Plaza Note-Holding Trust
      whose beneficiaries were the Partnership's Unitholders of
      record on May 31, 1990.
(d)   Unitholders' average per Unit return of capital as of
      August, 1997 is $6.15 [$14.28-$8.13].



                            Continued

KRUPP CASH PLUS LIMITED PARTNERSHIP
          

Operations

Distributable Cash Flow increased during the
six months ended June 30, 1997, as compared to
the six months ended June 30, 1996, due to a
decrease in capital improvements partially
offset by a decrease in net income.

The Partnership experienced a decrease in net
income during the three and six months ended
June 30, 1997 when compared to the same
periods in 1996 as revenue remained stable and
expenses increased.

Total revenue for the three and six months
ended June 30, 1997 as compared to the same
periods in 1996 remained relatively stable, as
the decreases in rental revenue and MBS
interest income were offset by the increase in
interest income.  The decline in rental
revenue primarily results from the spaces
which will be vacant during the expansion of
Dominicks, an anchor tenant at Tradewinds.  To
facilitate the expansion of Dominicks,
management negotiated the termination of the
Walgreens's lease effective December 31, 1996. 
As a result, rental revenue has decreased in
1997 as compared to 1996.  The decrease in MBS
interest income is a result of repayments and
prepayments of principal which occur on the
MBS portfolio throughout the year.  Interest
income increased as a result of higher cash
and cash equivalents available for
investments.

Total expenses increased for the three and six
months ended June 30, 1997 as compared to the
same periods in 1996 as the increase in
general and administrative expenses more than
offset the decrease in real estate taxes. 
General and administrative expenses increased
as costs incurred in connection with the
operation of the Partnership, including the
preparation of reports and other
communications to the Unitholders, increased
as did legal costs relating to the unsolicited
tender offers made to purchase Units of
Depositary Receipts.  The decrease in real
estate tax expense is due to a revised
estimate of Tradewinds's 1996 real estate
taxes. 
 

 


<PAGE>
KRUPP CASH PLUS LIMITED PARTNERSHIP

                   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 Cash Plus Limited Partnership
                                           
(Registrant)





 By:/s/Wayne H. Zarozny                   
                   Wayne H. Zarozny 
                                          
Treasurer and Chief Accounting Officer of The
Krupp Corporation, a General Partner.






Date: August   , 1997
<PAGE>