UNITED STATES
                  SECURITIES AND EXCHANGE COMMISSION
                        WASHINGTON, DC.  20549
                               FORM 10-K


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

For the fiscal year ended         December 31, 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                 33-11907
                       -----------------------------------------------

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

     Pennsylvania                                        23-2440837
-------------------------------                    -------------------
(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
                                                    ------------------

Securities registered pursuant to Section 12(b) of the Act:   NONE
                                                            ----------

Securities registered pursuant to section 12(g) of the Act: 8,285.7 Units
                                                            ------------

                 Units of Limited Partnership Interest
----------------------------------------------------------------------
                           (Title of Class)

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          No   X
                                                     -----       -----

Indicate by check mark if disclosure of delinquent filers pursuant  to
Item  405 of Regulation S-K is not contained herein, and will  not  be
contained  to the best of registrant's knowledge, in definitive  proxy
or  information statements incorporated by reference in  Part  III  of
this Form 10-K or any amendment to this Form 10-K.  [X]

Aggregate  market  value  of  Units  held  by  non-affiliates  of  the
Registrant:                                           Not Applicable *
                                                      ----------------
*Securities not quoted in any trading market to Registrant's knowlege.

Indicate by check mark whether the registrant is an accelerated filer
(as defined in Rule 12b-2 of the Act).   Yes ___ No_X_

This  Form  10-K  contains "unaudited" financial  statements  for  the
period ended December 31, 2003 and 2004. Refer to the Explanatory Note
below.

<PAGE>


                           EXPLANATORY NOTE
                           ----------------

Diversified  Historic Investors IV (the "Registrant")  is  filing  the
following Annual Report on Form 10-K for the period ended December 31,
2003   and   2004   containing  "unaudited"   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. The audit fieldwork began  in  July
2005;  however, because of the time expected to be involved in  having
the  new  auditor  perform the audit and review  of  the  consolidated
financial statements, the Registrant cannot advise as to the  date  of
completion of the audit and the filing date of the amendment  to  this
annual report. The Registrant will endeavor to proceed with this audit
as expeditiously as possible.

In  the  interim, the Registrant is filing the consolidated  financial
statements, for the period ended December 31, 2003 and 2004, contained
throughout  this annual report as "unaudited" and has  furnished  such
financial statements without a Certified Independent Auditor's Report.
The  Registrant  intends to make its report fully compliant  with  SEC
rules  and  promptly thereafter will file an amendment to this  report
with the SEC.

<PAGE>

                                PART I
                                ------

Item 1.   Business
          --------

          a. General Development of Business

              Diversified  Historic Investors IV ("Registrant")  is  a
limited  partnership  formed in 1987 under Pennsylvania  law.   As  of
December 31, 2004, Registrant had outstanding 8,285.7 units of limited
partnership interest (the "Units").

              Registrant  is  presently in its  operating  stage.   It
originally owned three properties or interests therein.  One  property
has  been  sold.   It  currently  owns two  properties.  See  Item  2.
Properties,  for  a  description thereof.  For  a  discussion  of  the
operations  of  the  Registrant, See Part  II,  Item  7.  Management's
Discussion  and  Analysis  of  Financial  Condition  and  Results   of
Operations.

          b. Financial Information about Industry Segments

             The Registrant operates in one industry segment.

          c. Narrative Description of Business

              Registrant  is  in  the business of operating,  holding,
selling,  exchanging and otherwise dealing in and with real properties
containing  improvements that are "Certified Historic Structures,"  as
such term is defined in the Internal Revenue Code (the "Code") for use
as   apartments,  offices,  hotels  and  commercial  spaces,  or   any
combination thereof, or low income housing eligible for the tax credit
provided  by  Section  42  of the Code, and such  other  uses  as  the
Registrant's general partner may deem appropriate.

              Since  the  Registrant's inception, all  the  properties
either  acquired by the Registrant, or the subsidiary partnerships  in
which  it  has  an interest, have been rehabilitated and certified  as
historic  structures  and  have received the  related  investment  tax
credit.  All the properties are held for rental operations.

             As of December 31, 2004, Registrant owned two properties,
one  each  located in North Carolina and Pennsylvania. In  total,  the
properties contain 22 apartment units.  As of December 31, 2004, 18 of
the  apartment units were under lease at monthly rental rates  ranging
from  $460 to $1,210.  Rental of the apartments is not expected to  be
seasonal.   For a further discussion of the properties,  see  Item  2.
Properties.

              The Registrant is affected by and subject to the general
competitive conditions of the residential real estate industry.  As  a
result   of  the  overbuilding  that  occurred  in  the  1980's,   the
competition  for  residential tenants in the local markets  where  the
Registrant's   properties  are  located  is  generally   strong.   The
properties  held for rental by the Registrant are located in  the  Old
City  Historic  District  in Philadelphia, Pennsylvania  and  Concord,
North  Carolina. In both areas there are several similar  historically
certified  rehabilitated buildings. However, there is no  organization
which  holds a dominant position in the residential housing market  in
either  of  the geographic areas in which the Registrant's  properties
are located. The apartment market remains stable in both areas and new
construction remains virtually nonexistent in Concord, North  Carolina
although  the  availability  of favorable home  financing  has  placed
pressure  on the rental tenant base. The Registrant is able  to  raise
rental rates and stay fully occupied in the Philadelphia property  but
at  the same time, competitive pressure exists from other buildings in
the Old City area and the emerging Northern Liberties neighborhood.

             Registrant has no employees.  Registrant's activities are
overseen  by  Brandywine Construction & Management, Inc., ("BCMI"),  a
real estate management firm.

            d.   Financial  Information  About  Foreign  and  Domestic
Operations and Export Sales.

             See Item 8. Financial Statements and Supplementary Data.



Item 2.   Properties
          ----------

          As of December 31, 2004, Registrant owned two properties, or
interests therein, as follows:

           a.  The Brass Works - consists of 12 apartments located  at
231-237  Race  Street,  Philadelphia,  Pennsylvania.   In  May   1987,
Registrant  acquired  and  rehabilitated the Property  for  $1,200,000
($111 per square foot)("sf") funded by its equity contribution.

              The  property is managed by BCMI.  At December 31, 2004,
12  of  the apartment units were under lease (100%) with monthly rents
ranging  from  $895  to  $1,210.  All leases are  renewable,  one-year
leases.  The occupancy for the previous four years was 92%  for  2003,
92% for 2002, 99% for 2001 and 100% for 2000. The monthly rental range
for  the  previous four years was $875 to $1,150 during 2003, $850  to
$1,125 during 2002, $650 to $1,095 during 2001 and $650 to $925 during
2000.  The monthly rental range increased to its present level due  to
the  increase in popularity of the Old City neighborhood in which  the
property is located, and the sustained ability of the property  to  be
fully occupied (other than transitory vacancies) at increasing monthly
rental  rates. For tax purposes, the building and land have a  federal
tax  basis  of  $1,136,277 and the building is depreciated  using  the
straight-line method with a useful life of 27.5 years. The annual real
estate  taxes  are  $12,694, which is based on an  assessed  value  of
$153,600  taxed  at a rate of $82.64 per $100. No one tenant  occupies
ten  percent  or  more  of the building. It  is  the  opinion  of  the
management  of the Registrant that the property is adequately  covered
by insurance.

           b.  Locke Mill Plaza - consists of 10 residential apartment
condominium units in a 169 condominium unit project located on Buffalo
Avenue  at Union Street in Concord, North Carolina. In November  1988,
Registrant  acquired  the  units for $665,000  funded  by  its  equity
contribution.

              The  property  is managed by BCMI.  As of  December  31,
2004,  6 units were under lease (60%) with monthly rates ranging  from
$413 to $560. All leases are renewable, one-year leases. The occupancy
as  of year end for the previous four years was 100% for 2003, 80% for
2002,  100%  for 2001 and 60% for 2000. The monthly rental  range  was
$413 to $560 for 2003, $500 to $560 for 2002, 2001 and 2000.  For  tax
purposes,  the building and land have a federal tax basis of  $666,271
and the building is depreciated using the straight-line method with  a
useful  life  of 27.5 years. The annual real estate taxes  are  $4,926
which  is  based on an assessed value of $513,100 taxed at a  rate  of
$.96  per  $100.  No one tenant occupies ten percent or  more  of  the
building.  It is the opinion of the management of the Registrant  that
the property is adequately covered by insurance.

           On February 25, 2005. the 10 units in Locke Mill Plaza were
sold for $275,000 to an unrelated party.



Item 3.   Legal Proceedings
          -----------------

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


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

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

<PAGE>

                                PART II
                                -------

Item   5.     Market  for  Registrant's  Common  Equity  and   Related
              Stockholder Matters
              --------------------------------------------------------

           a.  There is no established public trading market  for  the
Units.   Registrant does not anticipate any such market will  develop.
Trading  in the Units occurs solely through private transactions.  The
Registrant  is  not  aware  of  the  prices  at  which  trades  occur.
Registrant's  records indicate that 6 units were sold or exchanged  in
2004.

           b. As of December 31, 2004, there were 1,011 record holders
of Units.

           c. Registrant did not declare any cash dividends in 2004 or
2003.


Item 6.   Selected Financial Data
          -----------------------

          The following selected financial data are for the five years
ended  December 31, 2004. The data should be read in conjunction  with
the  consolidated financial statements included elsewhere herein. This
data is not covered by the independent auditors' report.

                    2004        2003        2002        2001        2000
                    ----        ----        ----        ----        ----
                (Unaudited)  (Unaudited)

Rental income   $  215,916  $  208,819  $  199,638  $  203,679  $  188,729
Interest income      1,233       2,792       5,604       8,944      10,061
Net loss          (136,375)   (126,413)   (116,040)    (69,298)    (86,597)
Net loss per unit   (16.29)     (15.10)     (13.86)      (8.28)     (10.35)
Total assets
 (net of
 depreciation and
 amortization)   1,137,382   1,270,581   1,411,051   1,520,361   1,590,514
 Dividends
 (distributions)         0           0           0           0           0

Note: See Part II, Item 7(3) Results of Operations for a discussion of
factors  which materially affect the comparability of the  information
reflected in the above tables.


Item 7.   Management's Discussion and Analysis of Financial
          Conditions and Results of Operations
          -------------------------------------------------

          (1)  Liquidity

               At   December  31,  2004,  Registrant   had   cash   of
approximately $196,245.  The Registrant expects that those funds  plus
the cash generated from operations at each property will be sufficient
to fund the operating expenses of the properties.

              As  of December 31, 2004, Registrant had restricted cash
of $28,104 consisting primarily of funds held as security deposits 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.

          (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 is not aware of any  factors  which
would cause historical capital expenditure levels not to be indicative
of  capital  requirements  in the future  and  accordingly,  does  not
believe  that  it  will have to commit material resources  to  capital
investments for the foreseeable future.

          (3)  Results of Operations

              During  2004, Registrant incurred a net loss of $136,375
($16.29  per limited partnership unit) compared to a loss of  $126,413
($15.10  per limited partnership unit) in 2003 and a loss of  $116,040
($13.86 per limited partnership unit) in 2002.

             Rental income was $215,916 in 2004, $208,819 in 2003, and
$199,638 in 2002. The increase in rental income from 2003 to  2004  is
due to an increase in average occupancy at Brass Works (96% to 97%) as
well  as  an  increase  in average rental rates, partially  offset  by
decreased  average  occupancy at Locke Mill. The  increase  in  rental
income from 2002 to 2003 is due to an increase in average occupancy at
Brass  Works (91% to 96%), partially offset by a decrease  in  average
rental rates at Locke Mill

              Interest income was $1,233 in 2004, $2,792 in 2003,  and
$5,604 in 2002. The decrease in interest income from both 2003 to 2004
and  from  2002 to 2003 is due to a decrease in average invested  cash
balances and a decrease in interest rates on money market accounts.

              Rental operations expense was $157,711 in 2004, $152,112
in 2003, and $151,436 in 2002.

              The  increase in rental operations expense from 2003  to
2004 is due to an increase in capital assessment expense and utilities
expense  at  Locke Mill, partially offset by a decrease in maintenance
expense  at  Brass Works and wages and salaries at  Locke  Mill.   The
increase  in  capital assessment expense at Locke Mill is  due  to  an
assessment  to  raise  funds  for capital projects.  The  increase  in
utilities expense at Locke Mill is due to a major water leak in one of
the  units. The decrease in maintenance expense at Brass works is  due
to  a  reduced  number  of  snow events  as  well  as  less  apartment
preparation  work  needed as occupancy increased. Wages  and  salaries
expense  at Locke Mill decreased due to a reduction in the maintenance
and administrative staff.

              The  increase in rental operations expense from 2002  to
2003  is  due to an increase in insurance expense at Brass  Works  and
Locke  Mill, an increase in maintenance expense and utilities  expense
at  Brass  Works  and an increase in condominium fees at  Locke  Mill,
partially  offset by a decrease in maintenance expense and  wages  and
salaries  at Locke Mill.  The increase in insurance expense  at  Brass
Works  and  Locke  Mill  is due to insurance  market  conditions.  The
increase  in maintenance expense at Brass Works is due to an  increase
in  maintenance service and snow removal.  The increase  in  utilities
expense at Brass Works is due to an increase in electricity, water and
sewer  charges.   The  increase in condominium  fees  are  due  to  an
increase  in budgeted operating expenses at Locke Mill.  The  decrease
in maintenance expense at Locke Mill is due to a decrease in apartment
painting and maintenance supplies.  The decrease in wages and salaries
expense at Locke Mill is due to a decrease in maintenance wages.

                  Bad debt expense was $1,345 in 2004, $15,823 in 2003
and  2,861 in 2002 Bad Debt expense was high in 2003 due to the write-
off of tenant accounts receivable that were deemed uncollectible.

              General and administrative expense was $94,379 in  2004,
$72,000  in  2003  and $72,000 in 2002. The increase  in  general  and
administrative  expense  from  2003 to  2004  is  due  to  payment  of
administrative  fees for the years 1997-1998 that had  not  previously
been accrued.

             During 2004, a loss of approximately $36,000 was incurred
at   the   Registrants  three  properties  compared  to  a   loss   of
approximately  $20,000  during  2003  and  $11,000  during   2002.   A
discussion of property operations/activities follows:

              In  2004, Registrant recognized net income of 25,000  at
Brass  Works  including a depreciation of 55,000  compared  to  a  net
income  of $11,000 including $53,000 in depreciation expense in  2003,
and   compared  to  net  income  of  $12,000  including   $51,000   in
depreciation expense in 2002.

              The  increase in net income at Brass Works from 2003  to
2004  is  due  to  an  increase in rental income  and  a  decrease  in
maintenance  expense  and bad debt expense.  The  increase  in  rental
income is due to an increase in average occupancy (96% to 97%) as well
as  an  increase in average rental rates. The decrease in  maintenance
expense  is due to a reduced number of snow events at Brass  Works  as
well as less apartment preparation work needed as occupancy increased.
The  decrease  in  bad  debt expense is due  to  lower  write-offs  of
accounts  receivable deemed uncollectible. The decrease in net  income
from  2002 to 2003 is due to an increase in rental operations  expense
and  bad  debt  expense,  partially offset by an  increase  in  rental
income.  The  increase  in rental operations  expense  is  due  to  an
increase  in  maintenance  expense, utilities  expense  and  insurance
expense.  The increase in maintenance expense is due to an increase in
maintenance  service  and  snow removal.  The  increase  in  utilities
expense is due to an increase in electricity, water and sewer charges.
The   increase  in  insurance  expense  is  due  to  insurance  market
conditions. The increase in bad debt expense is due to an increase  in
tenant  delinquencies. The increase in rental income  is  due  to  the
increase in average occupancy (91% to 96%).

              In  2004, Registrant incurred a loss of 29,000 in  Locke
Mill  Plaza  including 29,000 in depreciation compared to  a  loss  of
$33,000 including $28,000 of depreciation expense in 2003, and a  loss
of $22,000 including $28,000 of depreciation expense in 2002.

              The decrease in loss at Locke Mill from 2003 to 2004  is
due  to a decrease in bad debt expense, partially offset by a decrease
in  rental income and an increase in utility expense. The decrease  in
bad  debt  expense  is due to lower write-offs of accounts  receivable
deemed  uncollectible.  The  decrease  in  rental  income  is  due  to
decreased  average  occupancy (86% to 68%). The  increase  in  utility
expense is due to a major water leak in one of the units.
The  increase  in loss at Locke Mill from 2002 to 2003  is  due  to  a
decrease  in  rental  income  and an increase  in  bad  debt  expense,
partially  offset  by  a decrease in rental operations  expense.   The
decrease  in  rental  income is due to a decrease  in  average  rental
rates. The bad debt expense is due to the write off of tenant accounts
receivables  that were deemed uncollectible.  The decrease  in  rental
operations is due to the decrease in maintenance expense and wages and
salaries expense, partially offset by an increase condominium fees and
insurance  expense. The decrease in maintenance expense is  due  to  a
decrease  in apartment painting and maintenance supplies. The decrease
in wages and salaries is due to the decrease in maintenance wages. The
increase  in  condominium  fees is due  to  an  increase  in  budgeted
operating  expenses.  The  increase in insurance  expense  is  due  to
insurance market conditions.

              On  February 25, 2005. the 10 units in Locke Mill  Plaza
were sold for $275,000 to an unrelated party.


Item 7A.  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.

<PAGE>

Item 8.   Financial Statements and Supplementary Data
          -------------------------------------------

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

              INDEX TO CONSOLIDATED FINANCIAL STATEMENTS
              ------------------------------------------

                   AND FINANCIAL STATEMENT SCHEDULES
                   ---------------------------------


Consolidated financial statements:                            Page
                                                              ----

   Consolidated Balance Sheets at December 31, 2004-2003       11
(unaudited)

   Consolidated Statements of Operations for  the  Years       12
Ended December 31, 2004 - 2003 (unaudited), and 2002

   Consolidated  Statements  of  Changes  in   Partners'       13
Equity  for the Years Ended December 31, 2004 -  2003
(unaudited), and 2002

   Consolidated Statements of Cash Flows for  the  Years       14
Ended December 31, 2004-2003 (unaudited), and 2002

   Notes   to   consolidated  financial   statements   -       15-17
(unaudited)


Financial statement schedules: - (unaudited)

   Schedule   XI   -   Real   Estate   and   Accumulated       21
Depreciation - (unaudited)

   Notes to Schedule XI - (unaudited)                          22











All other schedules are omitted because they are not applicable or the
required information is shown in the consolidated financial statements
or notes thereto.

<PAGE>





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

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

                      December 31, 2004 and 2003
                      --------------------------
                              (Unaudited)

                                Assets
                                ------

                                           2004        2003
                                           ----        ----
                                        (Unaudited) (Unaudited)
Rental properties at cost:
 Land                                 $   74,324   $   74,324
 Buildings and improvements            2,246,555    2,246,555
 Furniture and fixtures                   80,869       77,897
                                      ----------   ----------
                                       2,401,748    2,398,776
  Less - accumulated depreciation     (1,520,874)  (1,420,786)
                                      ----------   ----------
                                         880,874      977,990
Cash and cash equivalents                196,245      249,100
Restricted cash                           28,104       26,761
Accounts receivable                       15,282        3,682
Other assets                              16,877       13,048
                                      ----------   ----------
Total                                 $1,137,382   $1,270,581
                                      ==========   ==========


                   Liabilities and Partners' Equity
                   --------------------------------

Liabilities:
 Accounts payable - trade             $    8,074   $    8,502
 Other liabilities                        30,619       28,000
 Tenant security deposits                 14,620       13,635
                                      ----------   ----------
          Total liabilities               53,313       50,137
Partners' equity                       1,084,069    1,220,444
                                      ----------   ----------
          Total                       $1,137,382   $1,270,581
                                      ==========   ==========



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

<PAGE>




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

                 CONSOLIDATED STATEMENTS OF OPERATIONS
                 -------------------------------------

         For the years ended December 31, 2004, 2003 and 2002

                                      2004         2003         2002
                                      ----         ----         ----
                                  (Unaudited)   (Unaudited)

Revenues:
 Rental income                      $215,916     $208,819     $199,638
 Interest income                       1,233        2,792        5,604
                                    --------     --------     --------
  Total revenues                     217,149      211,611      205,242
                                    --------     --------     --------
Costs and expenses:
 Rental operations                   157,711      152,112      151,436
 General and administrative           94,379       72,000       72,000
 Bad debt                              1,346       15,823        2,861
 Depreciation and amortization       100,088       98,089       94,985
                                    --------     --------     --------
  Total costs and expenses           353,524      338,024      321,282
                                    --------     --------     --------
Net loss                           ($136,375)   ($126,413)   ($116,040)
                                    ========     ========     ========

Net loss per limited partnership
 unit                              ($  16.29)   ($  15.10)   ($  13.86)
                                    ========     ========     ========

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

<PAGE>




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

        CONSOLIDATED STATEMENTS OF CHANGES IN PARTNERS' EQUITY
        ------------------------------------------------------
         For the years ended December 31, 2004, 2003 and 2002


                                      Dover
                                    Historic
                                    Advisors     Limited
                                     III (1)   Partners (2)    Total
                                    --------   ------------    -----

Percentage participation in
 profit or loss                       1%           99%          100%
                                      ==           ===          ====

Balance at December 31, 2001        $14,483    $1,448,268    $1,462,897
Net loss                             (1,160)     (114,880)     (116,040)
                                    -------    ----------    ----------
Balance at December 31, 2002        $13,323    $1,333,388    $1,346,857
Net loss                             (1,264)     (125,149)     (126,413)
                                    -------    ----------    ----------
Balance at December 31, 2003
 (Unaudited)                        $12,059    $1,208,239    $1,220,444
Net loss                             (1,364)     (135,011)     (136,375)
                                    -------    ----------    ----------
Balance at December 31, 2004
 (Unaudited)                        $10,695    $1,073,228    $1,084,069
                                    =======    ==========    ==========


 (1) General Partner

 (2)  8,285.7  limited partnership units outstanding at December  31,
      2004, 2003, and 2002.

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

<PAGE>

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

                 CONSOLIDATED STATEMENTS OF CASH FLOWS
                 -------------------------------------

         For the years ended December 31, 2004, 2003 and 2002


                                          2004      2003       2002
                                          ----      ----       ----
                                      (Unaudited) (Unaudited)

Cash flows from operating
 activities:
 Net loss                             ($136,375) ($126,413)  ($116,040)
 Adjustments to reconcile net loss
  to net cash (used in) provided by
  operating activities:
 Depreciation and amortization          100,088     98,089      94,985
Changes in assets and liabilities:
  Decrease (increase) restricted cash    (1,344)     1,129      (2,847)
  (Increase) decrease in accounts
   receivable                           (11,600)    14,388           0
  (Increase) decrease in other assets    (3,829)    (8,047)     (1,612)
  (Decrease) increase in accounts
   payable - trade                         (428)   (10,323)      2,557
  (Decrease) increase in other
   liabilities                            2,620     (2,749)      1,842
  (Decrease) increase in tenant
   security deposits                        985       (985)      2,330
                                       --------   --------    --------
  Net cash (used in) provided by
   operating activities                 (49,883)   (34,911)    (18,785)
                                       --------   --------    --------
Cash flows from investing activities:
 Capital expenditures                    (2,972)   (23,646)     (9,591)
                                       --------   --------    --------
Net cash used in investing activities    (2,972)   (23,646)     (9,591)
                                       --------   --------    --------
(Decrease) increase in cash and
 cash equivalents                       (52,855)   (58,557)    (28,376)
Cash and cash equivalents at
 beginning of year                      249,100    307,657     336,033
                                       --------   --------    --------
Cash and cash equivalents at end of
 year                                  $196,245   $249,100    $307,657
                                       ========   ========    ========


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

<PAGE>



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

           NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
           ------------------------------------------
                           (Unaudited)


NOTE A - ORGANIZATION
---------------------

Diversified  Historic Investors IV (the "Partnership") was  formed  in
January  1987, with Dover Historic Advisors III as the General Partner
and  DHP,  Inc., (formerly Dover Historic Properties,  Inc.,)  as  the
limited  partner.  Upon the admission of additional limited  partners,
the initial limited partner withdrew.

The  Partnership was formed to acquire, rehabilitate, and manage  real
properties which are certified historic structures as defined  in  the
Internal  Revenue  Code  (the  "Code"), or  which  were  eligible  for
designation  as  such, utilizing the net proceeds  from  the  sale  of
limited  partnership  units.  Any rehabilitations  undertaken  by  the
Partnership  were  done  with  a view to  obtaining  certification  of
expenditures  therefore as "qualified rehabilitation expenditures"  as
defined in the Code.


NOTE B - SIGNIFICANT ACCOUNTING POLICIES
----------------------------------------

A  summary  of  the  significant accounting policies  applied  in  the
preparation  of  the  accompanying consolidated  financial  statements
follows:

1.   Principles of Consolidation

The  accompanying consolidated financial statements of the Partnership
include  the  accounts  of  one subsidiary partnership  in  which  the
Partnership  had a controlling interest, with appropriate  elimination
of  inter-partnership  transactions  and  balances.   These  financial
statements  reflect  all  adjustments  (consisting  only   of   normal
recurring  adjustments)  which, in the opinion  of  the  Partnership's
General Partner, are necessary for a fair statement of the results for
the year.

2.   Costs of Issuance

Costs  incurred  in connection with the offering and sale  of  limited
partnership units were charged against partners' equity as incurred.

3.   Depreciation

Depreciation  is  computed  using the straight-line  method  over  the
estimated useful lives of the assets.  Buildings and improvements  are
depreciated over 25 years and furniture and fixtures over five years.

4.   Net Loss Per Limited Partnership Unit

The  net loss per limited partnership interest (a "Unit") is based  on
the  weighted average number of limited partnership Units  outstanding
during the period (8,285.7 Units in 2004, 2003, and 2002).

5.   Income Taxes

Federal and state income taxes are payable by the individual partners;
therefore, no provision or liability for income taxes is reflected  in
the financial statements.

6.   Cash and Cash Equivalents

The Partnership considers all highly liquid investments purchased with
a maturity of less than three months to be cash equivalents.

7.   Concentration of Credit Risk

Financial  instruments which potentially subject  the  Partnership  to
concentration  of  credit risk consist principally of  cash  and  cash
equivalents.  The Partnership maintains its cash and cash  equivalents
in  financial  institutions insured by the Federal  Deposit  Insurance
Corporation  up  to  $100,000  per  company.  At  December  31,  2004,
uninsured funds held at one institution are approximately $55,000.

8.   Restricted Cash

Restricted  cash  includes amounts held for tenant security  deposits,
real estate tax reserves and other cash restricted as to use.

9.   Revenue Recognition

Revenues  are recognized when rental payments are due on  a  straight-
line  basis.   Rental payments received in advance are deferred  until
earned.

10.  Rental Properties

Rental  properties are stated at cost.  A provision for impairment  of
value  is  recorded  when  a decline in the value  of  a  property  is
determined  to be other than temporary as a result of one or  more  of
the following: (1) a property is offered for sale at a price below its
current  carrying  value;  (2)  a mortgage  loan  on  a  property  has
significant  balloon payments due within the foreseeable future  which
the  Partnership does not have the resources to meet, and  anticipates
it will be unable to obtain replacement financing or debt modification
sufficient  to  allow  it  to continue to hold  the  property  over  a
reasonable period of time; (3) a property has been, and is expected to
continue,   generating   significant  operating   deficits   and   the
Partnership is unable or unwilling to sustain such deficits,  and  has
been  unable,  or  anticipates  it will  be  unable,  to  obtain  debt
modification,  financing  or refinancing sufficient  to  allow  it  to
continue to hold the property for a reasonable period of time, or  (4)
a  property's  value  has declined based on management's  expectations
with respect to projected future operational cash flows and prevailing
economic  conditions.   An  impairment  loss  is  indicated  when  the
undiscounted  sum  of  estimated future  cash  flows  from  an  asset,
including  estimated sales proceeds, and assuming a reasonable  period
of  ownership up to 5 years, is less than the carrying amount  of  the
asset.  The impairment loss is measured as the difference between  the
estimated  fair  value and the carrying amount of the  asset.  In  the
absence  of  the above circumstances, properties and improvements  are
stated  at  cost.  An analysis is done on an annual basis at  December
31.

11.  Use of Estimates

The  preparation  of  the  financial  statements  in  conformity  with
generally accepted accounting principles requires management  to  make
estimates  and  assumptions that affect the amounts  reported  in  the
financial  statements  and accompanying notes.  Actual  results  could
differ from those estimates.


NOTE C - PARTNERSHIP AGREEMENT
------------------------------

The significant terms of the amended and restated Agreement of Limited
Partnership  (the  "Agreement"),  as  they  relate  to  the  financial
statements, follow:

The  Agreement provides that beginning with the date of the  admission
of  subscribers  as  limited  partners, all  distributable  cash  from
operations  (as  defined)  will  be distributed  90%  to  the  limited
partners and 10% to the General Partner.

All distributable cash from sales or dispositions (as defined) will be
distributed  to  the  limited partners up to  their  original  capital
contributions  plus an amount equal to six percent of  their  original
capital contributions per annum on a cumulative basis, less the sum of
all  prior  distributions to them; thereafter, after  receipt  by  the
General  Partner  or  its affiliates of any accrued  but  unpaid  real
estate   brokerage  commissions,  the  distributable  cash   will   be
distributed  15%  to  the  General Partner  and  85%  to  the  limited
partners.

Net income or loss from operations of the Partnership is allocated  1%
percent to the General Partner and 99% to the limited partners.


NOTE D - ACQUISITIONS
---------------------

The  Partnership  acquired two properties and one general  partnership
interest  in a partnership owning a third property during  the  period
from May 1987 to November 1988, as discussed below.

In  May 1987, the Partnership purchased a three-story building located
in  Philadelphia, Pennsylvania consisting of 12 apartment units.   The
cost  to  acquire  and  rehabilitate this property  was  approximately
$1,200,000.

In  July  1987,  the  Partnership was admitted,  with  a  95%  general
partnership  interest,  to  a Pennsylvania general  partnership  which
owned  a building located in New Orleans, Louisiana consisting  of  61
apartment units, for cash contributions of $4,620,000.  As of December
31,  1996,  all of the units were sold. As of December 31,  1997,  the
mortgages  from the seller provided financing in connection  with  the
sale of the units were sold.

In November 1988, the Partnership purchased 10 condominium units, in a
building located in Concord, North Carolina, for $665,000.


NOTE E - INCOME TAX BASIS RECONCILIATION
----------------------------------------

Certain  items  enter  into  the  determination  of  the  results   of
operations in different time periods for financial reporting  ("book")
purposes and for income tax ("tax") purposes.  A reconciliation of net
loss and partners' equity follows:

                                  For the Years Ended December 31,
                                    2004         2003        2002
                                    ----         ----        ----
                                (Unaudited)   (Unaudited)

Net loss - book                ($  136,375) ($ 126,413) ($  116,040)
Excess of book over tax
 depreciation                       18,658      18,539       19,415
Minority interest (tax only)             0           0           70
                                ----------   ---------   ----------
Net loss - tax                 ($  117,717) ($ 107,874) ($   96,555)
                               ==========   ==========   ==========


                                  For the Years Ended December 31,
                                    2004         2003        2002
                                    ----         ----        ----

Partners' equity - book        $1,084,069   $1,220,444   $1,346,856
Costs of issuance               1,077,141    1,077,141    1,077,141
Cumulative tax over book loss     331,343      312,683      294,142
                                ---------   ----------   ----------
Partners' equity - tax         $2,492,553   $2,610,268   $2,718,139
                               ==========   ==========   ==========


NOTE F - SUBSEQUENT EVENT
-------------------------

In  February  2005,  the  Partnership sold the  10  condominium  units
located in Concord, North Carolina to an unrelated party for $275,000.


NOTE G - QUARTERLY FINANCIAL DATA (UNAUDITED)
---------------------------------------------

     The  following represents summarized quarterly financial data  of
the  Registrant  which,  in  the opinion of management,  reflects  all
adjustments,   consisting  only  of  normal   recurring   adjustments,
necessary  for  a  fair  presentation of the Registrant's  results  of
operations:


                      For The Three Months Ended - (Unaudited)
                  December 31, September 30,  June 30,   March 31,
                  ------------ -------------  --------   ---------
                                           2004
                  ------------------------------------------------
Revenues:
 Rental income       $52,706    $55,135       $ 51,484    $56,591
 Interest income         147        269            343        474
                     -------    -------       --------    -------
  Total revenues      52,853     55,404         51,827     57,065
                     -------    -------       --------    -------
Costs and expenses:
 Rental operations    29,981     39,043         55,251     33,436
 Bad debt              1,346          0              0          0
 General and
  administrative      18,000     18,000         40,379     18,000
 Depreciation and
  amortization        25,499     24,948         24,948     24,693
                     -------    -------       --------    -------
  Total costs and
   expenses           74,826     81,991        120,578     76,129
                     -------    -------       --------    -------
Net income (loss)   ($21,973)  ($26,587)     ($ 68,751)  ($19,064)
                     =======    =======       ========    =======

Net loss per limited
 partnership unit   ($ 2.63)   ($  3.18)     ($   8.22)  ($  2.28)
                     =======    =======       ========    =======


                      For The Three Months Ended - (Unaudited)
                  December 31, September 30,  June 30,   March 31,
                  ------------ -------------  --------   ---------
                                           2003
                  ------------------------------------------------
Revenues:
 Rental income      $ 54,648    $50,665       $ 50,773    $52,733
 Interest income         488        516            842        946
                     -------    -------       --------    -------
  Total revenues      55,136     51,181         51,615     53,679
                     -------    -------       --------    -------
Costs and expenses:
 Rental operations    14,497     31,238         36,130     70,247
 Bad debt             15,823          0              0          0
 General and
  administrative      18,000     24,000         12,000     18,000
 Depreciation and
  amortization        26,296     23,886         23,931     23,976
                     -------    -------       --------    -------
  Total costs and
   expenses           74,616     79,124         72,061    112,223
                     -------    -------       --------    -------
Net income (loss)  ($ 19,480)  ($27,943)     ($ 20,446)  ($58,544)
                     =======    =======       ========    =======

Net loss per
limited
 partnership unit   ($  1.66)  ($  3.34)     ($   2.44)  ($  7.00)
                     =======    =======       ========    =======


<PAGE>




                       SUPPLEMENTAL INFORMATION

<PAGE>


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

        SCHEDULE XI - REAL ESTATE AND ACCUMULATED DEPRECIATION
        ------------------------------------------------------
                          DECEMBER 31, 2004
                             (Unaudited)


                                            Costs
                                         Capitalized
                                         Subsequent
                  Initial Cost to            to
                  Partnership (b)        Acquisition
                  ---------------        -----------


                             Buildings
                               and                          Date of
                             Improve-  Improve-    Total    Constr.   Date
Description (a)      Land     ments    ments (d)  (b) (d)     (a)   Acquired
---------------      ----    --------- --------   ------- --------  --------
12 apartment
units in
Phila, PA          $54,000  $1,209,858 $407,649 $1,617,507   1988    5/22/87

10 apartment
units in
Concord,  NC        20,324     692,522   17,395    709,917   1988   11/30/88
                   -------  ---------- -------- ----------
 TOTAL             $74,324  $1,902,380 $425,044 $2,327,424
                   =======  ========== ======== ==========


                             Gross Amount at which Carried at
                                    December 31, 2004
                             --------------------------------
                                     (Unaudited)


                               Buildings
                                  and                   Accumulated
                                Improv-      Total      Depreciation
Description           Land       ments      (d) (e)       (d) (e)
------------          ----     ---------    -------     -----------
12 apartment
units in
Philadelphia, PA   $54,000    $1,617,507   $1,671,507    $1,067,149

10 apartment
units in
North Concord, NC  $20,324       709,917      730,241       453,725
                   -------    ----------   ----------    ----------
                   $74,324    $2,327,424   $2,401,748    $1,520,874
                   =======    ==========   ==========    ==========

<PAGE>

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

                      NOTES TO SCHEDULE XI
                      --------------------
                        December 31, 2004


(A)  Each property is a certified historic structure as defined in the
     Internal Revenue Code of 1986.  The "date of construction" refers
     to the period in which the properties were rehabilitated.

(B)  Includes  development/rehabilitation costs incurred  pursuant  to
     development  agreements  entered into when  the  properties  were
     acquired.

(C)  The aggregate cost of real estate owned at December 31, 2004, for
     Federal  income  tax  purposes is approximately  $1,802,548.  The
     depreciable  basis of buildings and improvements is  reduced  for
     Federal income tax purposes by the historic rehabilitation credit
     obtained.

(D)  Reconciliation of land, buildings and improvements:


                                        2004        2003         2002
                                        ----        ----         ----
                                    (Unaudited)  (Unaudited)

Balance at beginning of year         $2,398,776  $2,375,130   $2,365,539
Additions during the year:
 Improvements                             2,972      23,646        9,591
                                     ----------  ----------   ----------
 Balance at end of year              $2,401,748  $2,398,776   $2,375,130
                                     ==========  ==========   ==========


Reconciliation of accumulated depreciation:


Balance at beginning of year         $1,420,786  $1,322,696   $1,227,712
Depreciation expense for the year       100,088      98,090       94,984
                                     ----------  ----------   ----------

Balance at end of year               $1,520,874  $1,420,786   $1,322,696
                                     ==========  ==========   ==========

(E)  See   Note  B  to  the  consolidated  financial  statements   for
     depreciation methods and lives.

<PAGE>


Item  9.   Changes in and Disagreements with Accountants on Accounting
           and Financial Disclosure
           -----------------------------------------------------------

          None.


Item 9A.   Controls 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 III
                               --------

Item 10.  Directors and Executive Officers of Registrant

            a.  Identification  of  Directors  -  Registrant  has   no
directors.

          b. Identification of Executive Officers


              The  General Partner of the Registrant is Dover Historic
Advisors  III  (DoHA-III),  a Pennsylvania general  partnership.   The
partners of DoHA-III are as follows:


                                  Term of
Name            Age  Position     Office      Period Served
----            ---  --------     -------     -------------

SWDHA, Inc.      --  Partner in  No fixed     Since May 1997
                     DoHA-III      term

EPK, Inc.        --  Partner in  No fixed     Since May 1997
                     DoHA-III      term

              For further description of DoHA-III, see paragraph e. of
this  Item.   There is no arrangement or understanding between  either
person  named above and any other person pursuant to which any  person
was or is to be selected as an officer.

          c.   Identification  of  Certain  Significant   Employees.
Registrant  has  no  employees.   Its administrative  and  operational
functions  are  carried out by a property management  and  partnership
administration firm.

          d. Family Relationships.  None.

          e.  Business Experience.  DoHA-III is a general partnership
formed  in  1987.  The partners of DoHA-III are EPK, Inc.  and  SWDHA,
Inc.   EPK,  Inc.,  is  managing partner  of  DoHA  III  and  is  thus
responsible for management and control of DoHA III, which in  turn  is
responsible for the management and control of the Registrant  and  has
general responsibility and authority for conducting its operations.

              On May 13, 1997, SWDHA, Inc. replaced Gerald Katzoff and
EPK,  Inc.  replaced  DHP,  Inc.  as partners  of  DoHA-III.   Spencer
Wertheimer,  the  President  of  SWDHA,  Inc.,  is  an  attorney  with
extensive experience in real estate activities and ventures.

              EPK,  Inc.  is  a Delaware corporation  formed  for  the
purpose of managing properties or interests therein.  EPK, Inc.  is  a
wholly-owned subsidiary of D, LTD, an entity formed in 1985 to act  as
the   holding  company  for  various  corporations  engaged   in   the
development  and management of historically certified  properties  and
conventional  real  estate as well as a provider  of  financial  (non-
banking) services.

              The  officers  and directors of EPK, Inc. are  described
below.

              Spencer  Wertheimer was appointed on  May  13,  1997  as
President, Treasurer and Sole Director of EPK, Inc.  Mr. Wertheimer is
an  attorney  with extensive experience in real estate activities  and
ventures.

             Donna M. Zanghi (age 45) was appointed on May 13, 1997 as
Vice  President  and  Secretary of EPK, Inc.   Ms.  Zanghi  previously
served as Secretary and Treasurer of DHP, Inc. since June 14, 1993 and
as  a  Director  and  Secretary/Treasurer of D,  LTD.   She  has  been
associated with DHP, Inc. and its affiliates since 1984 except for the
period from December 1986 to June 1989 and the period from November 1,
1992 to June 14, 1993.

              Michele F. Rudoi (age 37) was appointed on May 13,  1997
as  Assistant  Secretary of EPK, Inc.  Ms. Rudoi has  also  served  as
Assistant  Secretary and Director of both D, LTD and  DHP,  Inc.  from
January 27, 1993.


Item 11.  Executive Compensation
          ----------------------

           a.  Cash Compensation - During 2004, Registrant did not pay
any cash compensation to DoHA-III.

           b.  Compensation Pursuant to Plans - Registrant has no plan
pursuant to which compensation was paid or distributed, or is proposed
to  be  paid  or distributed in the future, to DoHA-III,  any  partner
therein,  or  any  person named in paragraph c. of  Item  10  of  this
report.

           c.  Other  Compensation - Compensation not referred  to  in
paragraph  a. or paragraph b. of this Item was not paid or distributed
during  2004 to DoHA-III, any partner therein, or any person named  in
paragraph c. of Item 10.

          d. Compensation of Directors - Registrant has no directors.

          e.   Termination  of  Employment  and  Change  of  Control
Arrangement - Registrant has no compensatory plan or arrangement, with
respect  to  any  individual, which results or will  result  from  the
resignation  or  retirement of any individual, or any  termination  of
such  individual's  employment with Registrant or  from  a  change  in
control   of   Registrant   or   a   change   in   such   individual's
responsibilities following such a change in control.


Item  12.   Security  Ownership  of  Certain  Beneficial  Owners   and
            Management
            ----------------------------------------------------------

           a.  Security Ownership of Certain Beneficial  Owners  -  No
person is known to Registrant to be the beneficial owner of more  than
five percent of the issued and outstanding Units.

           b.  Security Ownership of Management - No equity securities
of  Registrant are beneficially owned by any person named in paragraph
c. of Item 10.

           c.  Changes  in Control - Registrant does not know  of  any
arrangement, the operation of which may at a subsequent date result in
a change in control of Registrant.


Item 13.  Certain Relationships and Related Transactions
          ----------------------------------------------

           Pursuant to Registrant's Amended and Restated Agreement  of
Limited  Partnership,  DoHA-III is entitled  to  10%  of  Registrant's
distributable cash from operations in each year.  The amount allocable
to DoHA-III for 2004, 2003 and 2002 was $0.

           a. Transactions with Management - Fees paid during 2004  to
the general partner were $0.

           b.  Certain  Business Relationships  -  Registrant  has  no
directors.

           c.   Indebtedness of Management - No employee of Registrant,
Registrant's general partner (or any employee thereof), or any
affiliate of any such person, is or has at any time been indebted to
Registrant.


Item 14.  Principal Accountant Fees and Services
          --------------------------------------

           The following table presents the aggregate fees billed  for
each  of  the services listed below for each of the Registrant's  last
two fiscal years.



                                             2004        2003
                                             ----        ----
                                          (Unaudited)  (Unaudited)

Audit Fees (1).........................        -           -
Audit - Related Fees (2)...............        -           -
Tax Fees (3)...........................        -           -
All Other Fees (4).....................        -           -
                                              --          --
Total..................................       $-          $-
                                              ==          ==


       1.   Audit Fees  - (unaudited)

       2.   Audit-Related Fees - (unaudited)

       3.   Tax Fees - (unaudited)

       4.   All Other Fees  - (unaudited)



<PAGE>



                                PART IV
                                -------

Item 15. (A) Exhibits, Financial Statement Schedules and Reports
         -------------------------------------------------------

             1.     Financial Statements:

                            a.     Consolidated  Balance  Sheets   at
                 December 31, 2004-2003 (unaudited).

                            b.   Consolidated Statements of Operations
                 for  the  Years  Ended       December  31,  2004-2003
                 (unaudited)  and 2002.

                            c.   Consolidated Statements of Changes
                    in  Partners' Equity for the Years Ended  December
                    31, 2004-2003 (unaudited)  and 2002.

                            d.   Consolidated Statements of Cash Flows
                 for  the  Years  Ended       December  31,  2004-2003
                 (unaudited) and 2002.

                            e.     Notes  to  consolidated  financial
                 statements. - (unaudited)


            2.     Financial   statement   schedules: - (unaudited)

                           a.     Schedule  XI  -  Real  Estate  and
                 Accumulated Depreciation. - (unaudited)

                           b.   Notes to Schedule XI. - (unaudited)

            3.  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.   1   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 of this
                                    Form 10-K.

                  31 (Not attached) General   Partners  Opinion
                                    Certification
                                    (To  be  filed with amended
                                    from 10-K/A)

                  32 (Not attached) Certification  Pursuant  to
                                    18  U.S.C. Section 1350, As
                                    Adopted     Pursuant     to
                                    Section    906    of    the
                                    Sarbanes-Oxley Act of 2002
                                    (To  be  filed with amended
                                    from 10-K/A)

         (c)  Exhibits:
                 See Item 14(A)(3) above.


<PAGE>
                              SIGNATURES
                              ----------


           Pursuant to the requirements of Section 13 or 15(d) 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.

Date:  September 7, 2005   DIVERSIFIED HISTORIC INVESTORS IV
       -----------------
                           By: Dover Historic Advisors III, its
                               general partner

                               By: EPK, Inc., managing partner

                                   By: /s/ Spencer Wertheimer
                                       ----------------------
                                       SPENCER WERTHEIMER
                                       President (principal executive
                                       officer, principal financial
                                       officer)






     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.


                              DIVERSIFIED HISTORIC INVESTORS IV

                             By: Dover Historic Advisors III, its
                                 general partner

                                 By: EPK, Inc., managing partner


Date: September 7, 2005           By: /s/ Spencer Wertheimer
      -----------------               -----------------------
                                      SPENCER WERTHEIMER
                                      President (principal executive
                                      officer, principal financial
                                      officer)

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