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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Wr5+XO7vbe6U/4xrTFh6urCefJko0POXx2PG5jobn1HMnpQp8c/VCENb0ABzOcSe
 PuYeNdbeb9AtiDDm4nS6Xg==

<SEC-DOCUMENT>0001503480-10-000003.txt : 20101014
<SEC-HEADER>0001503480-10-000003.hdr.sgml : 20101014
<ACCEPTANCE-DATETIME>20101014160319
ACCESSION NUMBER:		0001503480-10-000003
CONFORMED SUBMISSION TYPE:	D
PUBLIC DOCUMENT COUNT:		1
ITEM INFORMATION:		Rule 506
ITEM INFORMATION:		Investment Company Act Section 3(c)
ITEM INFORMATION:		Section 3(c)(7)
FILED AS OF DATE:		20101014
DATE AS OF CHANGE:		20101014
EFFECTIVENESS DATE:		20101014

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			INDURE-NECA DIVERSIFIED UNDERWRITTEN REAL ESTATE FUND, LLC
		CENTRAL INDEX KEY:			0001503480
		IRS NUMBER:				263437991
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		D
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	021-149093
		FILM NUMBER:		101123936

	BUSINESS ADDRESS:	
		STREET 1:		900 7TH STREET, NW
		STREET 2:		SUITE 900
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20001
		BUSINESS PHONE:		202 496-1273

	MAIL ADDRESS:	
		STREET 1:		900 7TH STREET, NW
		STREET 2:		SUITE 900
		CITY:			WASHINGTON
		STATE:			DC
		ZIP:			20001

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INDURE/NECA DIVERSIFIED UNDERWRITTEN REAL ESTATE FUND, LLC
		DATE OF NAME CHANGE:	20101014
</SEC-HEADER>
<DOCUMENT>
<TYPE>D
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0704</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0001503480</cik>
        <entityName>INDURE-NECA DIVERSIFIED UNDERWRITTEN REAL ESTATE FUND, LLC</entityName>
        <issuerAddress>
            <street1>900 7TH STREET, NW</street1>
            <street2>SUITE 900</street2>
            <city>WASHINGTON</city>
            <stateOrCountry>DC</stateOrCountry>
            <stateOrCountryDescription>DISTRICT OF COLUMBIA</stateOrCountryDescription>
            <zipCode>20001</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>202 496-1273</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <edgarPreviousNameList>
            <previousName>INDURE/NECA DIVERSIFIED UNDERWRITTEN REAL ESTATE FUND, LLC</previousName>
        </edgarPreviousNameList>
        <entityType>Limited Liability Company</entityType>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2008</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>JEFFREY</firstName>
                <middleName>J.</middleName>
                <lastName>KANNE</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>NATIONAL REAL ESTATE ADVISORS, LLC</street1>
                <street2>900 SEVENTH ST., NW, SUITE 900</street2>
                <city>WASHINGTON</city>
                <stateOrCountry>DC</stateOrCountry>
                <stateOrCountryDescription>DISTRICT OF COLUMBIA</stateOrCountryDescription>
                <zipCode>20001</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>PRESIDENT AND CEO OF NATIONAL REAL ESTATE ADVISORS, LLC (ISSUER'S MANAGER)</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>JOHN</firstName>
                <middleName>C.</middleName>
                <lastName>OTSUKI</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>NATIONAL REAL ESTATE ADVISORS, LLC</street1>
                <street2>900 SEVENTH ST., NW, SUITE 900</street2>
                <city>WASHINGTON</city>
                <stateOrCountry>DC</stateOrCountry>
                <stateOrCountryDescription>DISTRICT OF COLUMBIA</stateOrCountryDescription>
                <zipCode>20001</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>LAURIE</firstName>
                <lastName>MULLETT</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>NATIONAL REAL ESTATE ADVISORS, LLC</street1>
                <street2>900 SEVENTH ST., NW, SUITE 900</street2>
                <city>WASHINGTON</city>
                <stateOrCountry>DC</stateOrCountry>
                <stateOrCountryDescription>DISTRICT OF COLUMBIA</stateOrCountryDescription>
                <zipCode>20001</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification></relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Other Real Estate</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>$25,000,001 - $100,000,000</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06</item>
            <item>3C</item>
            <item>3C.7</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2010-10-01</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isEquityType>true</isEquityType>
            <isPooledInvestmentFundType>true</isPooledInvestmentFundType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>1000000</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>Indefinite</totalOfferingAmount>
            <totalAmountSold>643384985</totalAmountSold>
            <totalRemaining>Indefinite</totalRemaining>
            <clarificationOfResponse></clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>1</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>0</dollarAmount>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse></clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>0</dollarAmount>
            </grossProceedsUsed>
            <clarificationOfResponse></clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>INDURE-NECA DIVERSIFIED UNDERWRITTEN REAL ESTATE FUND, LLC</issuerName>
                <signatureName>JEFFREY J. KANNE</signatureName>
                <nameOfSigner>NATIONAL REAL ESTATE ADVISORS, LLC / JEFFREY J. KANNE</nameOfSigner>
                <signatureTitle>PRESIDENT AND CEO - NATIONAL REAL ESTATE ADVISORS, LLC</signatureTitle>
                <signatureDate>2010-10-14</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----