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, 2002
                          ---------------------------------------

[   ]  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   X     No
                                          -----      -----

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
knowledge.

<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, 2002, 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.

              The  following is a summary of significant  transactions
involving the Registrant's interests:

              During  1994,  the  Registrant converted  the  Henderson
Riverfront  Apartments owned by 700 Commerce Mall General  Partnership
("CMGP"), a Louisiana general partnership in which the Registrant owns
a  95%  interest, into condominiums and began offering the  units  for
sale.  Because of mortgage underwriting and banking market conditions,
the  seller,  CMGP, provided financing for a large percentage  of  the
units sold. As of December 31, 1996, all 61 units had been sold for an
aggregate amount of $6,009,745 ($4,055,459 net of selling expenses and
capital expenditures). The units sold ranged in price from $71,250  to
$127,065.   Of the units sold, 46 of the buyers opted for  the  seller
provided  financing  with  loans  ranging  from  $62,700  to  $181,900
(represents one mortgage secured by two units).

           On  December 30, 1997, the mortgage loans were sold.  These
mortgages were "nonconforming" which means that they could not be sold
on  the  standard  secondary market. However, the Registrant  believed
that  then current favorable economic environment provided an  unusual
opportunity  to  sell the mortgages.  Any deterioration  in  the  real
estate   markets   or  the  interest  rate  environment   would   have
substantially decreased the value of the mortgage loans and would have
increased  the likelihood of defaults thereunder. The loans were  sold
for 85.5% of their aggregate face value.

          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.  At  this
time it is anticipated that the two remaining properties will continue
to be held for this purpose until such time as real property values in
the areas in which these properties are located begin to increase.  At
that  time,  the  Registrant will re-evaluate its investment  strategy
regarding the properties.

             As of December 31, 2002, Registrant owned two properties,
one  each  located in North Carolina and Pennsylvania. In  total,  the
properties contain 22 apartment units.  As of December 31, 2002, 19 of
the  apartment units were under lease at monthly rental rates  ranging
from  $500 to $1,125.  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, 2002, 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, 2002,
11  of  the apartment units were under lease (92%) with monthly  rents
ranging  from  $850  to  $1,125.  All leases are  renewable,  one-year
leases.  The occupancy for the previous four years was 99%  for  2001,
100%  for  2000,  100% for 1999 and 100% for 1998. The monthly  rental
range for the previous four years was $650 to $1,095 during 2001, $650
to $925 during 2000, $690 to $875 during 1999, and $665 to $815 during
1998.  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  $1,114,068 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 $8.264 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,
2002,  8 units were under lease (80%) with monthly rates ranging  from
$500 to $560. All leases are renewable, one-year leases. The occupancy
as  of year end for the previous four years was 100% for 2001, 60% for
2000,  80%  for 1999, and 100% for 1998. The monthly rental range  has
been  approximately  the  same  since 1998.   For  tax  purposes,  the
building  and  land  have  a federal tax basis  of  $661,862  and  the
building  is depreciated using the straight-line method with a  useful
life  of 27.5 years. The annual real estate taxes are $4,803 which  is
based  on  an assessed value of $475,550 taxed at a rate of $1.01  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.

Item 3.   Legal Proceedings

           a.  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 65 units were sold or exchanged  in
2002.

           b. As of December 31, 2002, there were 1,012 record holders
of Units.

          c.   Registrant did not declare any cash dividends in 2002 or 2001.

Item 6.   Selected Financial Data

          The following selected financial data are for the five years
ended  December 31, 2002. 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.

                     2002       2001       2000       1999       1998
                     ----       ----       ----       ----       ----
 Rental income    $199,638   $203,679    $188,729   $194,123   $190,058
 Interest
  income             5,604      8,944      10,061     11,328     35,117
 Net loss         (116,040)   (69,298)    (86,597)   (92,209)   (60,005)
Net loss per
 unit               (13.86)     (8.28)     (10.35)    (11.02)     (7.17)
Total assets
 (net of
 depreciation
 and
 amortization)   1,411,051   1,520,361  1,590,514  1,675,218  2,029,350
 Dividends
 (distributions)         0           0          0    276,190  2,529,533

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

          (1)  Liquidity

               At   December  31,  2002,  Registrant   had   cash   of
approximately $307,657.  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, 2002, Registrant had restricted cash
of  $27,890  consisting primarily of funds held as security  deposits,
replacement   reserves,  escrows  for  taxes  and  insurance.   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  2002, Registrant incurred a net loss of $116,040
($13.86  per limited partnership unit) compared to a loss  of  $69,298
($8.28  per  limited partnership unit) in 2001 and a loss  of  $86,597
($10.35 per limited partnership unit) in 2000.

             Rental income was $199,638 in 2002, $203,679 in 2001, and
$188,729 in 2000. The decrease in rental income from 2001 to  2002  is
due  to a decrease in average occupancy at Locke Mill (88% to 80%) and
a  decrease in average occupancy at the Brass Works (99% to 91%).  The
increase  in rental income from 2000 to 2001 is due to an increase  in
average  occupancy (71% to 88%) at Locke Mill Plaza combined  with  an
increase in average rental rates at the Brass Works.

              Interest income was $5,604 in 2002, $8,944 in 2001,  and
$10,061 in 2000. The decrease in interest income from 2001 to 2002  is
due to a decrease in average invested cash balances and a decrease  in
interest  rates on money market accounts. The decrease  from  2000  to
2001  is  due  to  the  decrease in interest  rates  on  money  market
accounts.

             Rental operations expense was $ 151,436 in 2002, $117,380
in  2001,  and  $119,337 in 2000. The increase  in  rental  operations
expense  from 2001 to 2002 is due to an increase in insurance  expense
at the Registrants two properties, an increase in maintenance expense,
leasing  commissions, and real estate tax expense at the Brass  Works,
and  an increase in wages and salaries and condominium fees, partially
offset  by  a  decrease  in leasing commissions  at  Locke  Mill.  The
increase in insurance expense at the Brass Works and Locke Mill is due
to  an  increase  in premiums due to insurance market conditions.  The
increase  in maintenance expense and leasing commissions at the  Brass
Works  is  due  to  an  increase in turnover of apartment  units.  The
increase  in real estate tax expense at the Brass Works is due  to  an
increase  in  the property's appraised value on which  the  taxes  are
based. The increase in wages and salaries expense at Locke Mill is due
to  an increase in maintenance wages. The increase in condominium fees
are  due to an increase in budgeted operating expenses at Locke  Mill.
The decrease in leasing commissions at Locke Mill is due to a decrease
in  turnover  of  apartment units. The decrease  in  rental  operation
expense  from 2000 to 2001 is due to a decrease in maintenance expense
at  the Brass Works, partially offset by an increase in marketing  and
leasing expense at Locke Mill. The decrease in maintenance expense  at
the Brass Works is due to a decrease in apartment preparation expense.
The increase in marketing and leasing expense at Locke Mill is due  to
the increase in unit occupancy.

              Bad debt expense of $2,861 was incurred during 2002  due
to  the  write  off  of tenant accounts receivable  that  were  deemed
uncollectible.

              General and administrative expense was $72,000  in  both
2002  and  2001,  and  $74,425 in 2000. The decrease  in  general  and
administrative expense from 2000 to 2001 is due to a decrease in  fees
paid to the general partner.

             During 2002, a loss of approximately $11,000 was incurred
at   the   Registrants  three  properties  compared   to   income   of
approximately $36,000 during 2001, and income of $19,000  in  2000.  A
discussion of property operations/activities follows:

              In  2002,  Registrant recognized net income  of  $12,000
including $51,000 in depreciation expense at the Brass Works, compared
to  net income of $36,000 including $49,000 in depreciation expense in
2001,  and  net  income of $21,000, including $49,000 in  depreciation
expense in 2000. The decrease in net income from 2001 to 2002  is  due
to  a  decrease in rental income and an increase in rental  operations
expense and bad debt expense. The decrease in rental income is due  to
a  decrease in average occupancy (99% to 92%). The increase in  rental
operations  expense  is  due to an increase  in  maintenance  expense,
leasing  commissions, insurance expense, and real estate tax  expense.
The increase in maintenance expense and leasing commissions are due to
an  increase in turnover of apartment units. The increase in insurance
expense  is  due  to an increase in premiums due to  insurance  market
conditions.  The  increase in real estate tax expense  is  due  to  an
increase  in  the property's appraised value on which  the  taxes  are
based. The bad debt expense is due to the write off of tenant accounts
receivables that were deemed uncollectible. The increase in net income
from 2000 to 2001 is due to an increase in rental income combined with
a  decrease in maintenance expense. The increase in rental  income  is
due  to  an  increase  in  average  rental  rates.  The  decrease   in
maintenance  expense  is  due to a decrease in  apartment  preparation
expense.

              In  2002, Registrant incurred a loss of $22,000 at Locke
Mill  Plaza including $28,000 of depreciation expense, compared  to  a
loss of $7,000 including $27,000 of depreciation expense in 2001,  and
a  loss  of $9,000 including $27,000 of depreciation expense in  2000.
The  increase in loss from 2001 to 2002 is due to a decrease in rental
income  and an increase in rental operations expense. The decrease  in
rental income is due to a decrease in average occupancy (88% to  80%).
The  increase  in rental operations expense is due to an  increase  in
wages  and  salaries expense, condominium fees and insurance  expense,
partially offset by a decrease in leasing commissions. The increase in
wages and salaries expense is due to an increase in maintenance wages.
The  increase in condominium fees are due to an increase  in  budgeted
operating expenses at Locke Mill. The increase in insurance expense is
due to an increase in premiums due to insurance market conditions. The
decrease  in  leasing commissions is due to a decrease in turnover  of
apartment units. The decrease in loss from 2000 to 2001 is due  to  an
increase  in  rental  income,  partially  offset  by  an  increase  in
marketing and leasing expense. The increase in rental income is due to
an  increase  in  average  occupancy (71% to  88%).  The  increase  in
marketing  and  leasing  expense  is  due  to  the  increase  in  unit
occupancy.

Item 7A.  Quantitative and Qualitative Disclosures about Market Risk
          Not applicable.

Item 8.   Financial Statements and Supplementary Data
           Registrant  is  not required to furnish  the  supplementary
financial  information referred  to  in  Item  302  of Regulation S-K.

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 within the time periods specified in the SEC's rules and
  forms, 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>


                     Independent Auditor's Report



To the Partners of
Diversified Historic Investors IV

We  have  audited  the  accompanying  consolidated  balance  sheet  of
Diversified Historic Investors IV (a Pennsylvania Limited Partnership)
and  subsidiaries  as of December 31, 2002 and 2001  and  the  related
statements  of  operations and changes in partners'  equity  and  cash
flows  for  the years ended December 31, 2002, 2001 and  2000.   These
consolidated  financial  statements  are  the  responsibility  of  the
Partnership's management.  Our responsibility is to express an opinion
on these financial statements based on our audit.

We conducted our audit in accordance with auditing standards generally
accepted  in  the  United States of America.  Those standards  require
that  we  plan  and  perform the audit to obtain reasonable  assurance
about  whether  the  consolidated financial  statements  are  free  of
material misstatement.  An audit includes examining, on a test  basis,
evidence  supporting  the  amounts and disclosures  in  the  financial
statements.    An   audit  also  includes  assessing  the   accounting
principles used and significant estimates made by management, as  well
as  evaluating  the  overall  financial  statement  presentation.   We
believe that our audit provides a reasonable basis for our opinion.

In  our  opinion,  the consolidated financial statements  referred  to
above present fairly, in all material respects, the financial position
of Diversified Historic Investors IV as of December 31, 2002 and 2001,
and  the  results  of operations and cash flows for  the  years  ended
December  31,  2002,  2001  and 2000, in  conformity  with  accounting
principles generally accepted in the United States of America.

Our  audits  were made for the purpose of forming an  opinion  on  the
basic  financial  statements taken as a whole.  The Schedule  of  Real
Estate  and Accumulated Depreciation beginning on page 19 is presented
for the purposes of additional analysis and is not a required part  of
the  basic  financial statements.  Such information has been subjected
to the auditing procedures applied in the audit of the basic financial
statements  and,  in  our opinion, is fairly stated  in  all  material
respects  in  relation to the basic financial statements  taken  as  a
whole.



Gross, Kreger & Passio
Philadelphia, Pennsylvania
May 21, 2003

<PAGE>


                   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, 2002
   and 2001                                                 11

   Consolidated Statements of Operations for  the  Years
Ended December 31, 2002, 2001, and 2000                     12

   Consolidated  Statements  of  Changes  in   Partners'
Equity  for the Years Ended December 31, 2002,  2001,
and 2000                                                    13

   Consolidated Statements of Cash Flows for  the  Years
Ended December 31, 2002, 2001, and 2000                     14

   Notes to consolidated financial statements             15-18

Financial statement schedules:

   Schedule XI - Real Estate and Accumulated Depreciation   20

   Notes to Schedule XI                                     21






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, 2002 and 2001

                                Assets

                                           2002        2001
                                           ----        ----
Rental properties at cost:
 Land                                  $   74,324  $   74,324
 Buildings and improvements             2,246,555   2,246,555
 Furniture and fixtures                    54,251      44,660
                                       ----------  ----------
                                        2,375,130   2,365,539
  Less - accumulated depreciation      (1,322,696) (1,227,712)
                                       ----------  ----------
                                        1,052,434   1,137,827
Cash and cash equivalents                 307,657     336,033
Restricted cash                            27,890      25,042
Other assets                               23,070      21,459
                                       ----------  ----------
Total                                  $1,411,051  $1,520,361
                                       ==========  ==========

                   Liabilities and Partners' Equity

Liabilities:
 Accounts payable - trade              $   18,826  $   16,268
 Other liabilities                         30,749      28,909
 Tenant security deposits                  14,622      12,290
                                       ----------  ----------
          Total liabilities                64,197      57,467
Partners' equity                        1,346,854   1,462,894
                                       ----------  ----------
          Total                        $1,411,051  $1,520,361
                                       ==========  ==========

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, 2002, 2001 and 2000



                                    2002       2001       2000
                                    ----       ----       ----
Revenues:
 Rental income                   $199,638   $203,679    $188,729
 Interest income                    5,604      8,944      10,061
                                 --------   --------    --------
  Total revenues                  205,242    212,623     198,790
                                 --------   --------    --------
Costs and expenses:
 Rental operations                151,436    117,380     119,337
 General and administrative        72,000     72,000      74,425
 Bad debt                           2,861          0           0
 Depreciation and amortization     94,985     92,541      91,625
                                 --------   --------    --------
  Total costs and expenses        321,282    281,921     285,387
                                 --------   --------    --------
Net loss                        ($116,040) ($ 69,298)  ($ 86,597)
                                 ========   ========    ========

Net loss per limited
 partnership unit               ($  13.86) ($   8.28)  ($  10.35)
                                 ========   ========    ========

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, 2002, 2001 and 2000



                                       Dover
                                    Historic     Limited
                                    Advisors     Partners
                                     III(1)        (2)         Total
                                    --------     --------      -----
Percentage participation in
 profit or loss                       1%           99%          100%
                                      ==           ===          ====
Balance at December 31, 1999      ($455,884)   $2,074,673    $1,618,789
Net loss                               (866)      (85,731)      (86,597)
                                   --------    ----------    ----------
Balance at December 31, 2000       (456,750)    1,988,942     1,532,192
Net loss                               (693)      (68,605)      (69,298)
                                   --------    ----------    ----------
Balance at December 31, 2001       (457,443)    1,920,337     1,462,894
Net loss                             (1,160)     (114,880)     (116,040)
                                   --------    ----------    ----------
Balance at December 31, 2002      ($458,603)   $1,805,457    $1,346,854
                                   ========    ==========    ==========

 (1) General Partner

 (2) 8,285.7  limited partnership units outstanding at December  31,
     2002, 2001, and 2000.


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, 2002, 2001 and 2000

                                      2002       2001       2000
                                      ----       ----       ----
Cash flows from operating
 activities:
 Net loss                         ($116,040) ($ 69,298) ($ 86,597)
 Adjustments to reconcile net loss
  to net cash (used in) provided by
  operating activities:
  Depreciation and amortization      94,985     92,541     91,625
Changes in assets and liabilities:
 (Increase) decrease restricted
  cash                               (2,847)    (2,255)     2,382
 (Increase) decrease in other
  assets                             (1,611)       596     (5,044)
 Increase (decrease) in accounts
  payable - trade                     2,557    (28,408)     1,223
 Increase (decrease) in other
  liabilities                         1,842     27,529       (160)
 Increase in tenant security
  deposits                            2,330         25        830
                                   --------   --------   --------
 Net cash (used in) provided by
  operating activities              (18,784)    20,730      4,259
                                   --------   --------   --------
Cash flows from investing
 activities:
 Capital expenditures                (9,591)   (14,846)         0
                                   --------   --------   --------
Net cash used in investing
 activities                          (9,591)   (14,846)         0
                                   --------   --------   --------
(Decrease) increase in cash and
 cash equivalents                   (28,375)     5,884      4,259
Cash and cash equivalents at
 beginning of year                  336,033    330,149    325,890
                                   --------   --------   --------
Cash and cash equivalents at end
 of year                           $307,658   $336,033   $330,149
                                   ========   ========   ========


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

<PAGE>

                   DIVERSIFIED HISTORIC INVESTORS IV
                        (a limited partnership)

              NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

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  therefor 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 2002, 2001, and 2000).

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,  2002,
uninsured funds held at one institution are approximately $200,000.

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,
                              2002        2001        2000
                              ----        ----        ----
Net loss - book           ($116,040)   ($69,298)   ($86,597)
Excess of book over
 tax depreciation            19,415      20,302      21,726
Minority interest
 (tax only)                      70        (372)       (339)
                           --------     -------     -------
Net loss - tax            ($ 96,555)   ($49,368)   ($65,210)
                           ========     =======     =======

                            For the years ended December 31,
                              2002        2001        2000
                              ----        ----        ----
Partners' equity - book  $1,346,856  $1,462,894   $1,532,192
Costs of issuance         1,077,141   1,077,141    1,077,141
Cumulative tax over
 book loss                  294,142     274,659      254,730
                         ----------  ----------   ----------
Partners' equity - tax   $2,718,139  $2,814,694   $2,864,063
                         ==========  ==========   ==========

<PAGE>


                       SUPPLEMENTAL INFORMATION


<PAGE>



              DIVERSIFIED HISTORIC INVESTORS IV
                   (a limited partnership)

    SCHEDULE XI - REAL ESTATE AND ACCUMULATED DEPRECIATION
                      DECEMBER 31, 2002


                               Cost
            Initial Cost    Capitalized
           to Partnership  Subsequent to
                 (b)         Aquisition

              Buildings
                and
Descrip-      Improve-   Improve-          Date of   Date
  tion   Land  ments      ments    Total    Constr. Acquired
-------  ---- ---------  --------  -----    ------- --------
  (a)                       (d)    (b)(d)     (a)

12
apart-
ment
units
in
Phila-
delphia,
PA    $54,000 $1,209,858 $385,440 $1,595,298  1988   5/22/87

10
apartment
units in
Concord,
NC     20,324    692,522   12,986    705,508  1988  11/30/88
      ------- ---------- -------- ----------
      $74,324 $1,902,380 $398,426 $2,300,806
      ======= ========== ======== ==========


                           Gross Amount Which
                               carried at
                            December 31, 2002

                  Buildings
                    and
Descrip-          Improve-                Accumulated
  tion    Land     ments         Total        Depr.
-------   ----    ---------      -----    -----------
  (a)                            (d)(e)     (d)(e)

12
apart-
ment
units
in
Phila-
delphia,
PA     $54,000 $1,595,298    $1,649,298   $  929,702

10 apartment
units in
North
Concord,
NC      20,324    705,508       725,832      392,994
       ------- ----------    ----------   ----------
       $74,324 $2,300,806    $2,375,130   $1,322,696
       ======= ==========    ==========   ==========

<PAGE>

                   DIVERSIFIED HISTORIC INVESTORS IV
                        (a limited partnership)

                         NOTES TO SCHEDULE XI

                           December 31, 2002

(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, 2002, for
     Federal  income  tax  purposes is approximately  $1,775,930.  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:

                                        2002        2001        2000
                                        ----        ----        ----

Balance at beginning of year       $2,365,539  $2,350,693  $2,350,693
Additions during the year:
 Improvements                           9,591      14,846           0
                                   ----------  ----------  ----------
Balance at end of year             $2,375,130  $2,365,539  $2,350,693
                                   ==========  ==========  ==========

Reconciliation of accumulated depreciation:

                                        2002        2001        2000
                                        ----        ----        ----
Balance at beginning of year       $1,227,712  $1,135,171  $1,043,546
Depreciation expense for the year      94,984      92,541      91,625
                                   ----------  ----------  ----------
Balance at end of year             $1,322,696  $1,227,712  $1,135,171
                                   ==========  ==========  ==========

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

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

          None.


<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:

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

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

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

              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 2002, 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  2002 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 2002, 2001 and 2000 was $0.

           a. Transactions with Management - Fees paid during 2002  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.

<PAGE>

                                PART IV

Item  14.  (A) Exhibits, Financial Statement Schedules and Reports  on
Form 8-K.

             1.     Financial Statements:

                            a.     Consolidated  Balance  Sheets   at
                 December 31, 2002 and 2001.

                            b.   Consolidated Statements of Operations
                 for  the Years Ended      December 31, 2002, 2001 and
                 2000.

                            c.   Consolidated Statements of Changes in
                 Partners'  Equity for the      Years  Ended  December
                 31, 2002, 2001 and 2000.

                            d.   Consolidated Statements of Cash Flows
                 for  the Years Ended      December 31, 2002, 2001 and
                 2000.

                            e.     Notes  to  consolidated  financial
                 statements.

                      2.   Financial statement schedules:

                            a.     Schedule  XI  -  Real  Estate  and
                 Accumulated Depreciation.

                            b.   Notes to Schedule XI.

                      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.

             (b)  Reports on Form 8-K:

                  No  reports  were  filed  on Form 8-K during the
                  quarter ended December 31, 2002.

             (c)  Exhibits:

                 See Item 14(A)(3) above.


<PAGE>


                              SIGNATURES

      Pursuant  to  the  requirement of Section 13  or  15(d)  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:  January 14, 2004   DIVERSIFIED HISTORIC INVESTORS IV Income Fund
       ----------------   ---------------------------------------------
                           By: Dover Historic Advisors III,
                               General Partner

                               By:  EPK, Inc., General Partner

                                    By: /s/ Spencer Wertheimer
                                        ----------------------
                                        SPENCER WERTHEIMER
                                        President

                                    By: /s/ Michele F. Rudoi
                                        --------------------
                                        MICHELE F. RUDOI,
                                        Assistant Secretary

      Pursuant to the requirements of the Securities Exchange Act
of  1934,  this  report has been signed below  by  the  following
persons on behalf of Registrant and in the capacities and on  the
dates indicated.

        Signature               Capacity             Date

DOVER HISTORIC ADVISORS III   General Partner

By:  EPK, Inc., General Partner

     By: /s/ Spencer Wertheimer                     January 14, 2004
         ----------------------                     ----------------
         SPENCER WERTHEIMER,
         President

   By:  /s/ Michele F. Rudoi                        January 14, 2004
        -----------------------                     ----------------
        MICHELE F. RUDOI,
        Assistant Secretary


<PAGE>

                                                            Exhibit 31

                             CERTIFICATION

  I, Spencer Wertheimer, certify that:

1.     I  have reviewed this annual report on Form 10-K for the period
 ended December 31, 2002   of Diversified Historic Investors IV;

2.      Based on my knowledge, this report does not contain any untrue
 statement  of  a  material  fact or omit to  state  a  material  fact
 necessary  to make the statements made, in light of the circumstances
 under  which  such statements were made, not misleading with  respect
 to the period covered by this report;

3.      Based  on  my knowledge, the financial statements,  and  other
 financial information included in this report, fairly present in  all
 material respects the financial condition, results of operations  and
 cash  flows  of the registrant as of, and for, the periods  presented
 in this report;

4.      I  am  responsible for establishing and maintaining disclosure
 controls  and procedures (as defined in Exchange Act Rules  13a-15(e)
 and  15d-15(e))  [Omission in accordance with SEC  Release  Nos.  33-
 8238,  34-47986  and IC-26068 (June 5, 2003)] for the registrant  and
 have:

  (a)     Designed such disclosure controls and procedures, or  caused
    such  disclosure controls and procedures to be designed  under  my
    supervision, to ensure that material information relating  to  the
    registrant,  including  its  consolidated  subsidiaries,  is  made
    known  to me by others within those entities, particularly  during
    the period in which this report is being prepared;

  (b)     [Omitted  in accordance with SEC Release Nos.  33-8238,  34-
    47986 and IC-26068 (June 5, 2003)];

  (c)     Evaluated  the effectiveness of the registrant's  disclosure
    controls   and  procedures  and  presented  in  this   report   my
    conclusions  about  the effectiveness of the  disclosure  controls
    and  procedures,  as  of  the end of the period  covered  by  this
    report based on such evaluation; and

  (d)     Disclosed  in  this  report any change in  the  registrant's
    internal  control  over financial reporting that  occurred  during
    the  registrant's  most  recent fiscal quarter  (the  registrant's
    fourth  fiscal quarter in the case of an annual report)  that  has
    materially   affected,  or  is  reasonably  likely  to  materially
    affect,   the   registrant's  internal  control   over   financial
    reporting; and

5.      I  have  disclosed,  based  on my most  recent  evaluation  of
 internal  control  over  financial  reporting,  to  the  registrant's
 auditors  and  the  audit  committee of  the  registrant's  board  of
 directors (or persons performing the equivalent functions):

  (a)     All significant deficiencies and material weaknesses in  the
    design  or  operation of internal control over financial reporting
    which  are  reasonably likely to adversely affect the registrant's
    ability   to  record,  process,  summarize  and  report  financial
    information; and

  (b)     Any fraud, whether or not material, that involves management
    or   other   employees  who  have  a  significant  role   in   the
    registrant's internal control over financial reporting.



Date: January 14, 2004                         /s/ Spencer Wertheimer
      ----------------                         ----------------------
                                        Name:  Spencer Wertheimer
                                       Title:  President (principal
                                               executive officer) of the
                                               registrant's managing
                                               partner, EPK, Inc.

Date: January 14, 2004                         /s/ Spencer Wertheimer
      ----------------                         ----------------------
                                        Name:  Spencer Wertheimer
                                       Title:  Treasurer (principal
                                               financial officer) of the
                                               registrant's managing
                                               partner, EPK, Inc.

<PAGE>
                                                            Exhibit 32

                       CERTIFICATION PURSUANT TO
                        18 U.S.C. SECTION 1350,
                        AS ADOPTED PURSUANT TO
             SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

  In  connection  with  the  Annual  Report  of  Diversified  Historic
Investors  IV on Form 10-K for the period ended December 31,  2002  as
filed  with the Securities and Exchange Commission on the date  hereof
(the "Report"), I, Spencer Wertheimer, President and Treasurer of  the
Company's managing partner, EPK, Inc., certify, pursuant to 18  U.S.C.
Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley
Act of 2002, that:

  (1) The Report fully complies with the requirements of section 13(a)
or 15(d) of the Securities Exchange Act of 1934, and

  (2)  The information contained in the Report fairly presents, in all
material  respects, the financial condition and results of  operations
of the Company.


Date: January 14, 2004                         /s/ Spencer Wertheimer
      ----------------                         ----------------------
                                        Name:  Spencer Wertheimer
                                       Title:  President (principal
                                               executive officer) of the
                                               registrant's managing
                                               partner, EPK, Inc.

Date: January 14, 2004                         /s/ Spencer Wertheimer
      ----------------                         ----------------------
                                        Name:  Spencer Wertheimer
                                       Title:  Treasurer (principal
                                               financial officer) of the
                                               registrant's managing
                                               partner, EPK, Inc.



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