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




                                    FORM 8-K


                                 CURRENT REPORT


                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

       Date of Report (Date of earliest event reported) August 30, 2005

                      CONSOLIDATED CAPITAL PROPERTIES IV
            (Exact name of Registrant as specified in its charter)


       California                0-11002                94-2768742
(State or other jurisdiction   (Commission           (I.R.S. Employer
   of incorporation)           File Number)       Identification Number)

                                55 Beattie Place
                              Post Office Box 1089
                        Greenville, South Carolina 29602
                    (Address of principal executive offices)


                                 (864) 239-1000
                           (Issuer's telephone number)

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously satisfy the filing obligations of the registrant under any of the
following provisions:

[ ]   Written  communications  pursuant to Rule 425 under the  Securities  Act
      (17 CFR 230.425)

[ ]   Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act (17
      CFR 240.14a-12)

[ ]   Pre-commencement  communications  pursuant  to Rule  14d-2(b)  under the
      Exchange Act (17 CFR 240.14d-2(b))

[ ]   Pre-commencement  communications  pursuant  to Rule  13e-4(c)  under the
      Exchange Act (17 CFR 240.13e-4(c))









Item 2.03 Creation of a Direct  Financial  Obligation or an Obligation  Under an
Off-Balance Sheet Arrangement of a Registrant.

Consolidated  Capital  Properties IV (the  "Registrant")  owns a 99% interest in
Foothill Chimney Associates Limited  Partnership,  a Georgia limited partnership
(the "Partnership"). On August 30, 2005, the Partnership refinanced the mortgage
encumbering one of its investment properties, Foothill Place Apartments. The new
mortgage  loan, in the principal  amount of  $17,700,000,  replaced the existing
mortgage loan,  which had an outstanding  balance at the time of the refinancing
of  approximately  $10,100,000.  The new mortgage  requires  monthly payments of
principal and interest of  approximately  $92,000,  beginning on October 1, 2005
until the loan matures on September 1, 2008, with a fixed interest rate of 4.72%
and a  balloon  payment  of  approximately  $16,836,000  due  at  maturity.  The
Partnership may extend the term of the loan for two successive  one-year periods
by  exercising  the  extension  options as defined  in the loan  agreement.  The
Partnership may prepay the loan with no penalty if prepayment in full is made no
more than  twelve  months  before  the  maturity  date or during  the  extension
periods.  However,  if the loan is  prepaid  prior to twelve  months  before the
maturity date then a prepayment penalty, as defined in the loan agreement,  will
apply.

In accordance with the terms of the loan agreement for the new loan,  payment of
the loan may be  accelerated at the option of the lender if an event of default,
as defined in the loan agreement, occurs. Events of default include, but are not
limited to: nonpayment of monthly principal and interest within 10 business days
after  the due  date;  nonpayment  of the  matured  balance  of the  loan on the
maturity date; and the occurrence of any breach or default in the performance of
any of the covenants or agreements made by the Partnership.

The foregoing  description is qualified in its entirety by reference to the Deed
of Trust,  Security  Agreement,  and Fixture Filing, and Secured Promissory Note
copies of which will be filed as exhibits to the Registrant's  Form 10-Q for the
quarterly period ended September 30, 2005.

In accordance with the  Registrant's  partnership  agreement,  the  Registrant's
General  Partner  is  evaluating  the cash  requirements  of the  Registrant  to
determine  what portion of the net proceeds from the above  transaction  will be
distributed to the Registrant's partners.













                                    SIGNATURE


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



                                    CONSOLDIATED CAPITAL PROPERTIES IV


                                    By:   Concap Equities, Inc.
                                          General Partner


                                    By:   /s/Martha L. Long
                                          Martha L. Long
                                          Senior Vice President


                                    Date: September 6, 2005