UNITED STATES
                  SECURITIES AND EXCHANGE COMMISSION
                        WASHINGTON, DC.  20549
                               FORM 10-K/A
                            Amendment No. 1


(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   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 knowlege.

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


<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,  2004  and  2003 containing consolidated  financial
statements.

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

The Registrant engaged a new firm, Russell Bedford Stefanou
Mirchandani, LLP to audit and review the Registrants' outstanding
consolidated financial statements.  Accordingly, the Company is
re-filing the Original Filing in its entirety with an updated
Item 8 and 14 of the Original Filing.  The Company has not made
any other changes to the Original Filing.   This Amendment No. 1
on Form 10-K/A continues to speak as of the date of the Original
Filing, and the Company has not updated the disclosures contained
therein to reflect any events that occurred at a later date.


                             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 $413 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 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.


                             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
                   ----        ----       ----        ----         ----

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 $1,346 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 two properties compared to a loss  of
approximately $20,000 during 2003 and $11,000 during 2002.

              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
                                                          ----


 Report of Certified Public Accountants                     10

 Consolidated Balance Sheets at December 31, 2004  and      11
  2003

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

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

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

 Notes to consolidated financial statements               15-19


Financial statement schedules:

 Schedule   XI   -   Real   Estate   and   Accumulated      21
  Depreciation

  Notes to Schedule XI                                      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>




                  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, 2004  and  2003
and  the  related statements of operations, changes in  partners'
equity  and cash flows for the years ended December 31, 2004  and
2003.   These   consolidated   financial   statements   are   the
responsibility    of    the   Partnership's    management.    Our
responsibility  is  to express an opinion on  these  consolidated
financial statements based on our audit.

We conducted our audit in accordance with standards of the Public
Company  Accounting Oversight Board (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 consolidated 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,
2004  and  2003 and the results of operations and cash flows  for
the  years  ended  December 31, 2004 and 2003 in conformity  with
accounting principles generally accepted in the United States.

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 on page 21 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.



Russell Bedford Stefanou Mirchandani, LLP
New York, New York
March 10, 2006

<PAGE>


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

                      CONSOLIDATED BALANCE SHEETS
                      ---------------------------
                      December 31, 2004 and 2003

                                Assets
                                ------

                                              2004          2003
                                              ----          ----
Assets:
 Cash and cash equivalents                $  196,245   $  249,100
 Restricted cash                              28,104       26,761
 Accounts receivable                          15,282        3,682
 Other assets                                 16,877       13,047
                                          ----------   ----------
                                             256,508      292,590
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)  (1,420,785)
                                          ----------   ----------
                                             880,874      977,991
Total                                     $1,137,382   $1,270,581
                                          ==========   ==========


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

Liabilities:
 Accounts payable - trade                 $    8,074   $    8,502
 Other liabilities                            30,622       28,003
 Tenant security deposits                     14,620       13,635
                                          ----------   ----------
 Total liabilities                            53,316       50,140
Partners' equity                           1,084,066    1,220,441
                                          ----------   ----------
          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
                                      ----         ----         ----
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      ($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
Net loss                             (1,264)    (125,149)      (126,413)
                                   --------   ----------     ----------
Balance at December 31, 2003       (459,867)   1,680,308      1,220,441
Net loss                             (1,364)    (135,011)      (136,375)
                                   --------   ----------     ----------
Balance at December 31, 2004      ($461,231)  $1,545,297     $1,084,066
                                   ========   ==========     ==========


 (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
                                          ----      ----         ----
Cash flows from operating
 activities:
 Net loss                             ($136,375)   ($126,413) ($116,040)
Adjustments to reconcile net loss
 to net cash used in operating
 activities:
 Depreciation and amortization          100,088       98,089     94,985
Changes in assets and liabilities:
 (Increase) decrease in restricted
  cash                                   (1,343)       1,129     (2,847)
 (Increase) decrease in
  accounts receivable                   (11,600)      14,388          0
 Increase in other assets                (3,829)      (8,047)    (1,612)
 (Decrease) increase in accounts
  payable - trade                          (428)     (10,324)     2,557
  Increase (decrease) in other
   liabilities                            2,619       (2,746)     1,842
  Increase (decrease) in tenant
   security deposits                        985         (987)     2,330
                                       --------     --------   --------
  Net cash used in 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 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
              ------------------------------------------


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.

As  a result, of the sale of Locke Mill in 2005, the Company made
a special allocation of income and distributed the proceeds 1% to
the General Partner and 99% 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
                                        ----        ----        ----
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
---------------------------------

     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
                    ---------------------------------------------------
                    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 loss               ($21,973)       ($26,587)  ($68,751)    ($19,064)
                        =======         =======    =======      =======

Net loss per
 limited
 partnership unit      ($  2.62)       ($  3.18)  ($  8.21)    ($  2.28)
                        =======         =======    =======      =======


                                 For The Three Months Ended
                    ---------------------------------------------------
                    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 loss               ($19,480)       ($27,943)  ($20,446)   ($ 58,544)
                        =======         =======    =======     ========

Net loss per limited
 partnership unit      ($  2.33)       ($  3.34)  ($  2.44)   ($   6.99)
                        =======         =======    =======     ========





<PAGE>






                    SUPPLEMENTAL INFORMATION



<PAGE>



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



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

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


                       Buildings Furniture&            Date
                         and     Fixtures &             of
                       Improve-  Improve-    Total    Constr  Date
Description(a)  Land     ments    ments(d)   (b)(d)     (a)   Acq'd
-------------- ------- ---------- -------- ----------  ----- -------
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
               ------- ---------- -------- ----------
               $74,324 $1,902,380 $425,044 $2,327,424
               ======= ========== ======== ==========



                           Gross Amount at which Carried at
                                    December 31, 2004
                             --------------------------------

                             Buildings,
                             Furniture &
                             Fixtures &
                                  and
                                Improv-      Total      Accumulated
Description           Land       ments        (d)(e)      Depr (d)(e)
------------          ----     ---------    -------    -------------
12 apartment
units in
Phila, 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
                                      ----        ----         ----

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  $1,322,697    $1,227,712
Depreciation expense for the year     100,088      98,089        94,985
                                   ----------  ----------    ----------
Balance at end of year             $1,520,874  $1,420,786    $1,322,697
                                   ==========  ==========    ==========

(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.


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
                                             ----        ----


Audit Fees (1) .........................   $ 7,083     $ 7,083
Audit - Related Fees (2) ...............      -           -
Tax Fees (3) ...........................    14,300      14,300
All Other Fees (4) .....................      -           -
                                           -------     -------
Total...................................   $21,383     $21,383
                                           =======     =======

       1. Audit Fees - The audit fees for the year ended December 31,
          2004 and 2003, respectively, were for professional services
          rendered by RBSM, LLP. The fees represent audits of the
          consolidated financial statements of the Registrant, statutory
          audits and subsidiary audits, issuance of comfort letters related
          to financing transactions; and with review of documents filed
          with the SEC.

       2. Audit-Related Fees - Audit-related fees as of the years
          ended December 31, 2004 and 2003, respectively, would consist of
          the aggregate fees billed for assurance and related services that
          are reasonably related to the performance of the audit or review
          of the consolidated financial services and are not disclosed
          under "Audit Fees" above, however, no such assurance or services
          were provided in the relevant periods.

       3. Tax Fees - Tax fees as of the years ended December 31, 2004
          and 2003, respectively, were for services related to tax
          compliance, rendered by Brandywine Construction and Management
          Inc. including preparation of tax returns and claims for refund,
          tax planning and tax advice, including assistance with and
          representation in tax audits.

       4. All Other Fees - All other fees as of the years ended
          December 31, 2004 and 2003, respectively, would consist of the
          aggregate fees billed for products and services described under
          audit fees, audit - related fees and tax fees, however, no such
          products and services were provided in the relevant periods.

<PAGE>

                             PART IV
                             -------

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

             1.   Financial Statements:

                  a. Condensed Consolidated  Balance Sheets at
                     December 31, 2004 and 2003

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

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

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

                 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.

                  31                General   Partners  Opinion
                                    Certification

                  32                Certification  Pursuant  to
                                    18  U.S.C. Section 1350, As
                                    Adopted     Pursuant     to
                                    Section    906    of    the
                                    Sarbanes-Oxley Act of 2002
                                    (To  be  filed with amended
                                    from 10-K/A)

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

<PAGE>

                           SIGNATURES
                           ----------

Date: August 28, 2006      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: August 28, 2006              By: /s/ Spencer Wertheimer
      ---------------                  ----------------------
                                       SPENCER WERTHEIMER
                                       President (principal
                                       executive officer,
                                       principal financial
                                       officer)

<PAGE>