The purpose of this amended form is to include the Financial
Data Schedule, exhibit 27.


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


                           FORM 10-Q/A


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



For the quarter ended March 31,  Commission file number 0-14510
              1995



                   CEDAR  INCOME  FUND,  LTD.
     (Exact name of registrant as specified in its charter)



              Iowa                         42-1241468
(State or other jurisdiction of         (I.R.S. Employer
 incorporation or organization)       Identification No.)



 4333 Edgewood Road N.E., Cedar              52499
           Rapids, IA                      (Zip Code)
(Address of principal executive
            offices)


 Registrant's telephone number, including area code:  (319) 398-
                              8975


                               N/A
  (Former name, address and fiscal year, if changed since last
                             report)


Indicate by check-mark whether the registrant  (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to
file such reports), and (2) has been subject to such filing
requirements for the past 90 days.   Yes  X      No



The number of shares of common stock outstanding at May 10, 1995
was 2,245,411.


                          EXHIBIT INDEX


Exhibit Item                Title or Description
   27                       Financial Data Schedule



                            SIGNATURE

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


CEDAR INCOME FUND, LTD.


/s/ Alan F. Fletcher
Alan F. Fletcher

Vice President and Treasurer
(principal financial officer)


/s/ Edward J. Kittleson
Edward J. Kittleson
Controller
(principal accounting officer)


Dated:  June 1, 1995