FORM 10-KSB--ANNUAL OR TRANSITIONAL REPORT UNDER
                               SECTION 13 OR 15(d)

                                   Form 10-KSB

[X]   ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT
      OF 1934 [No Fee Required]

                 For the fiscal year ended December 31, 2000

[ ]   TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
      ACT OF 1934 [No Fee Required]
               For the transition period _________to _________

                         Commission file number 0-10304

                              ANGELES PARTNERS X
                (Name of small business issuer in its charter)

         California                                           95-3557899
(State or other jurisdiction of                            (I.R.S. Employer
 incorporation or organization)                           Identification No.)

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

                            Issuer's telephone number
                                 (864) 239-1000

        Securities registered under Section 12(b) of the Exchange Act:

                                      None

        Securities registered under Section 12(g) of the Exchange Act:

                            Limited Partnership Units
                                (Title of class)

Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act during the past 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__

Check if there is no disclosure  of delinquent  filers in response to Item 405
of  Regulation  S-B  contained  in  this  form,  and  no  disclosure  will  be
contained,  to the best of the  registrant's  knowledge in definitive proxy or
information  statements  incorporated  by  reference  in Part III of this Form
10-KSB or any amendment to this Form 10-KSB. [X]

State issuer's revenues for its most recent fiscal year.  $2,492,000

State the aggregate  market value of the voting  partnership  interests  held by
non-affiliates  computed  by  reference  to the price at which  the  partnership
interests  were sold,  or the average bid and asked  prices of such  partnership
interests as of December 31, 2000. No market exists for the limited  partnership
interests of the Registrant,  and,  therefore,  no aggregate market value can be
determined.

                       DOCUMENTS INCORPORATED BY REFERENCE
                                      None

                                     PART I

Item 1.  Description of Business

Angeles  Partners  X (the  "Registrant"  or  "Partnership")  is a  publicly-held
limited  partnership  organized under the California Uniform Limited Partnership
Act  pursuant to a  Certificate  and Amended  Agreement  of Limited  Partnership
(hereinafter  referred to as the  "Agreement")  dated June 24, 1980. The general
partner  responsible  for  management of the  Partnership's  business is Angeles
Realty Corporation ("ARC"), a California corporation (hereinafter referred to as
the "General  Partner").  Effective December 1992, 100% of the General Partner's
outstanding  stock was  purchased by MAE GP  Corporation  ("MAE GP").  Effective
February 25, 1998, MAE GP merged into Insignia  Properties Trust ("IPT"),  which
was merged into Apartment  Investment and Management Company ("AIMCO") effective
February 26, 1999. Thus the General Partner is now a wholly-owned  subsidiary of
AIMCO. The Elliott Family Partnership,  Ltd., a California limited  partnership,
was  the  Non-Managing  General  Partner.  On  June  30,  2000,  Elliott  Family
Partnership sold its remaining interest to AIMCO Properties,  LP, a wholly-owned
subsidiary of AIMCO.  The General Partner and the  Non-Managing  General Partner
are herein collectively  referred to as the "General Partners".  The Partnership
Agreement  provides that the  Partnership  is to terminate on December 31, 2035,
unless terminated prior to such date.

The  Registrant  is engaged in the business of operating and holding real estate
properties for investment.  In 1981 and 1982, during its acquisition  phase, the
Registrant acquired eight investment properties. Prior to the calendar year 2000
six  investment  properties  were either sold or foreclosed  on. The  Registrant
continues to own and operate two of these properties (See "Item 2 Description of
Properties").

Commencing  May 12, 1981,  the  Registrant  offered  pursuant to a  Registration
Statement  filed with the Securities and Exchange  Commission up to 25,000 Units
of Limited Partnership  Interest (the "Units") at a purchase price of $1,000 per
Unit  with a minimum  purchase  of 5 Units  ($5,000).  Upon  termination  of the
offering,  the  Registrant  had accepted  subscriptions  for 18,714 Units for an
aggregate  of  $18,714,000,  including  100 Units  which were  purchased  by the
General Partner for $100,000. Since its initial offering, the Registrant has not
received,  nor  are  limited  partners  required  to  make,  additional  capital
contributions.

The Registrant  has no employees.  Management  and  administrative  services are
performed by the General Partner and by agents retained by the General  Partner.
Property management services are provided at the Partnership's  properties by an
affiliate of the General Partner.

Both  the  income  and  expenses  of  operating  the  properties  owned  by  the
Partnership are subject to factors outside of the Partnership's control, such as
changes in the supply and demand for similar  properties  resulting from various
market  conditions,  increases/decreases  in unemployment or population  shifts,
changes in availability of permanent mortgage financing, changes in zoning laws,
or changes in patterns or needs of users. In addition,  there are risks inherent
in owning and  operating  residential  properties  because such  properties  are
susceptible  to the  impact of  economic  and other  conditions  outside  of the
control of the Partnership.

There have been, and it is possible there may be other, Federal, state and local
legislation  and  regulations   enacted   relating  to  the  protection  of  the
environment.  The Partnership is unable to predict the extent,  if any, to which
such new  legislation  or  regulations  might occur and the degree to which such
existing or new legislation or regulations might adversely affect the properties
owned by the Partnership.

The Partnership  monitors its properties for evidence of pollutants,  toxins and
other dangerous substances, including the presence of asbestos. In certain cases
environmental testing has been performed,  which resulted in no material adverse
conditions or liabilities.  In no case has the Partnership  received notice that
it is a potentially  responsible party with respect to an environmental clean up
site.

The  real  estate  business  in which  the  Partnership  is  engaged  is  highly
competitive.  There are other  residential  properties within the market area of
the Registrant's  properties.  The number and quality of competitive properties,
including those which may be managed by an affiliate of the General Partner,  in
such  market  area  could have a  material  effect on the rental  market for the
apartments at the Registrant's  properties and the rents that may be charged for
such apartments. While the General Partner and its affiliates own and/or control
a  significant  number of  apartment  units in the  United  States,  such  units
represent an  insignificant  percentage of total  apartment  units in the United
States, and competition for apartments is local.

A further description of the Partnership's business is included in "Management's
Discussion and Analysis or Plan of Operation"  included in "Item 6" of this Form
10-KSB.

Transfer of Control

Pursuant  to a series  of  transactions  which  closed  on  October  1, 1998 and
February 26, 1999,  Insignia  Financial Group, Inc. and IPT merged into AIMCO, a
publicly  traded real estate  investment  trust,  with AIMCO being the surviving
corporation.  As a result, AIMCO acquired 100% ownership interest in the General
Partner.  The General Partner does not believe that this  transaction has had or
will have a material effect on the affairs and operations of the Partnership.

Item 2.  Description of Properties:

The following table sets forth the Registrant's investment in properties:

<TABLE>
<CAPTION>

                               Date of
Property                       Purchase         Type of Ownership             Use

<S>                           <C>        <C>                            <C>
Greentree Apartments          12/31/81   Fee ownership subject to       Apartment -
  Mobile, Alabama                        first and second mortgages(1)  178 units

Carriage Hills Apartments     07/30/82   Fee ownership subject to a     Apartment -
  East Lansing, Michigan                 first mortgage (1)             143 units

(1)   Property  is held by a Limited  Partnership  which the  Registrant  owns a
      99.00% interest in.
</TABLE>

Schedule of Properties:

Set forth below for each of the  Registrant's  properties is the gross  carrying
value,  accumulated  depreciation,  depreciable life, method of depreciation and
Federal tax basis.

<TABLE>
<CAPTION>

                        Gross
                       Carrying   Accumulated    Useful                  Federal
Property                Value    Depreciation     Life      Method      Tax Basis
                           (in thousands)                            (in thousands)

Greentree
<S>                   <C>          <C>          <C>          <C>        <C>
 Apartments           $ 4,722      $ 3,733      5-25 yrs     S/L        $   967

Carriage Hills
 Apartments             5,473        3,355      5-25 yrs     S/L          1,682
                      $10,195      $ 7,088                              $ 2,649
</TABLE>

See "Note A" to the  consolidated  financial  statements  included  in "Item 7 -
Financial  Statements"  for a  description  of  the  Partnership's  depreciation
policy.


<PAGE>

Schedule of Property Indebtedness

The  following  table  sets  forth  certain  information  relating  to the loans
encumbering the Partnership's properties:

<TABLE>
<CAPTION>

                          Principal                                      Principal
                          Balance At                                      Balance
                         December 31,   Interest    Period   Maturity      Due At
       Property              2000         Rate    Amortized    Date     Maturity (2)
                        (in thousands)                                 (in thousands)

Greentree Apartments
<S>                        <C>           <C>      <C>          <C>       <C>
  1st mortgage             $ 3,318       7.83%    28.67 yrs    10/03     $ 3,135
  2nd mortgage                 113       7.83%       (1)       10/03         113

Carriage Hills
  Apartments
  1st mortgage               5,235       7.39%      30 yrs     12/04       4,958
                             8,666
Less unamortized
   discounts                   (21)

  Total                    $ 8,645                                       $ 8,206
</TABLE>

(1)   Interest only payments with a balloon payment at maturity.

(2)   See "Item 7. Financial  Statements - Note D" for information  with respect
      to the  Registrant's  ability  to prepay  these  loans and other  specific
      details about the loans.

Rental Rates and Occupancy:

Average  annual  rental rates and  occupancy for 2000 and 1999 for each property
were as follows:

                                    Average Annual              Average Annual
                                     Rental Rates                 Occupancy
                                      (per unit)
 Property                        2000           1999          2000         1999
 Greentree Apartments           $ 5,655       $ 5,585         98%           99%
 Carriage Hills Apartments       10,136         9,891         94%           95%

As noted under "Item 1.  Description of Business",  the real estate  industry is
highly  competitive.  All of the  properties of the  Partnership  are subject to
competition from other residential  apartment complexes in the area. The General
Partner  believes  that  all of the  properties  are  adequately  insured.  Each
property is an  apartment  complex  which  leases units for terms of one year or
less. As of December 31, 2000, no  residential  tenant leases 10% or more of the
available rental space. All of the properties are in good condition,  subject to
normal  depreciation and deterioration as is typical for assets of this type and
age.


<PAGE>



Schedule of Real Estate Taxes and Rates:

Real estate taxes and rates in 2000 for each property were as follows:

                                    2000             2000
                                  Billing            Rate
                               (in thousands)

Greentree Apartments              $ 39               1.03%
Carriage Hills Apartments          132               2.82%

Capital Improvements:

Greentree  Apartments:  The  Partnership  completed  approximately  $181,000  in
capital expenditures at Greentree Apartments as of December 31, 2000, consisting
primarily of appliances, parking lot improvements,  major landscaping,  interior
decoration  and floor  covering  replacements.  These  improvements  were funded
primarily from replacement  reserves and operating cash flow. The Partnership is
currently  evaluating  the capital  improvement  needs of the  property  for the
upcoming year. The minimum amount to be budgeted is expected to be $275 per unit
or $48,950.  Additional  improvements  may be considered  and will depend on the
physical  condition  of  the  property  as  well  as  replacement  reserves  and
anticipated cash flow generated by the property.

Carriage Hills Apartments:  The Partnership completed  approximately $677,000 in
capital  expenditures  at Carriage  Hills  Apartments  as of December  31, 2000,
consisting   primarily   of   structural   building   improvements,   countertop
replacements,  appliances and floor covering  replacements.  These  improvements
were funded  primarily  from  replacement  reserves and operating cash flow. The
Partnership  is  currently  evaluating  the  capital  improvement  needs  of the
property for the upcoming year. The minimum amount to be budgeted is expected to
be $275 per unit or $39,325.  Additional improvements may be considered and will
depend on the physical condition of the property as well as replacement reserves
and anticipated cash flow generated by the property.

Item 3.  Legal Proceedings

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial  Group,  Inc., et al. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the   Partnership,   its  General  Partner  and  several  of  their   affiliated
partnerships  and corporate  entities.  The action  purports to assert claims on
behalf of a class of limited  partners and derivatively on behalf of a number of
limited  partnerships  (including  the  Partnership)  which are named as nominal
defendants,  challenging the acquisition of interests in certain general partner
entities by Insignia Financial Group, Inc. ("Insignia") and entities which were,
at one  time,  affiliates  of  Insignia;  past  tender  offers  by the  Insignia
affiliates to acquire limited  partnership units; the management of partnerships
by the  Insignia  affiliates;  and the  Insignia  Merger.  The  plaintiffs  seek
monetary damages and equitable  relief,  including  judicial  dissolution of the
Partnership.  On June 25,  1998,  the  General  Partner  filed a motion  seeking
dismissal of the action.  In lieu of  responding to the motion,  the  plaintiffs
have filed an amended  complaint.  The General  Partner  filed  demurrers to the
amended complaint which were heard February 1999.

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims, subject to court approval, on behalf of the Partnership and all
limited partners who owned units as of November 3, 1999. Preliminary approval of
the  settlement  was obtained on November 3, 1999 from the Court,  at which time
the Court set a final  approval  hearing for  December  10,  1999.  Prior to the
December  10,  1999  hearing,  the  Court  received  various  objections  to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December  14,  1999,  the General  Partner  and its  affiliates  terminated  the
proposed settlement.  In February 2000, counsel for some of the named plaintiffs
filed a motion to disqualify plaintiff's lead and liaison counsel who negotiated
the settlement.  On June 27, 2000, the Court entered an order disqualifying them
from the case and an appeal was taken  from the order on  October  5,  2000.  On
December 4, 2000, the Court  appointed the law firm of Lieff Cabraser  Heimann &
Bernstein  LLP as new  lead  counsel  for  plaintiffs  and the  putative  class.
Plaintiffs  filed a third  amended  complaint on January 19,  2001.  On March 2,
2001,  the  General  Partner  and its  affiliates  filed a demurrer to the third
amended complaint. The General Partner does not anticipate that costs associated
with this case will be material to the Partnership's overall operations.

The Partnership is a party to certain legal actions resulting from its operating
activities.  These actions are routine litigation and administrative proceedings
arising in the  ordinary  course of business  and none of which are  expected to
have a  material  adverse  effect on the  consolidated  financial  condition  or
results of operations of the Partnership.

Item 4.  Submission of Matters to a Vote of Security Holders

During the quarter ended December 31, 2000, no matter was submitted to a vote of
unit holders through the solicitation of proxies or otherwise.

<PAGE>

                                     PART II

Item 5.  Market for the Partnership's Common Equity and Related Security
         Holder Matters

The  Partnership,  a  publicly-held  limited  partnership,  sold 18,714  limited
partnership units aggregating  $18,714,000  including 100 Units purchased by the
General  Partner for  $100,000.  The  Partnership  currently  has 999 holders of
record  owning an aggregate of 18,625 Units.  Affiliates of the General  Partner
owned  9,718  units or  approximately  52.18% at December  31,  2000.  No public
trading market has developed for the Units,  and it is not anticipated that such
a market will develop in the future.

The following table sets forth the distributions made by the Partnership for the
years ended December 31, 2000 and 1999.

                                                Distributions
                                                            Per Limited
                                        Aggregate        Partnership Unit
                                   (in thousands)
       01/01/99 - 12/31/99            $1,740 (1)              $84.03

       01/01/00 - 12/31/00               650 (2)               34.52

(1)   Consists of  $1,610,000  of cash from surplus  funds from the 1999 sale of
      Vista Hills  Apartments  and cash from  operations  of $130,000  which was
      declared   during   December  1999  and  paid  during  January  2000.  The
      distribution  from surplus funds  includes  $154,000 which was paid to the
      general  partners as a commission on sale of the property.  See "Item.  6"
      and "Item 7. Financial Statements - Note F" for further details.

(2)   Consists of cash from operations.

Future cash  distributions  will depend on the levels of net cash generated from
operations, the availability of cash reserves and the timing of debt maturities,
refinancings,  and/or property sales. The Partnership's  distribution  policy is
reviewed on a quarterly  basis.  There can be no  assurance,  however,  that the
Partnership  will  generate  sufficient  funds from  operations  after  required
capital  expenditures to permit any additional  distributions to its partners in
2001 or subsequent  periods.  See "Item 2.  Description  of Properties - Capital
Improvements"   for  information   relating  to  capital   expenditures  at  the
properties.  Distributions  may be restricted by the requirements to deposit net
operating  income (as defined in the  mortgage  note) into the  Reserve  Account
until the  Reserve  Account  is  funded  in an amount  equal to $200 to $400 per
apartment unit for Greentree Apartments for a total of $35,600 to $71,200. As of
December 31, 2000, the Partnership has deposits of approximately  $69,000 in the
reserve account.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates  currently own 9,718 limited  partnership
units in the Partnership  representing 52.18% of the outstanding units. A number
of these  units were  acquired  pursuant  to tender  offers made by AIMCO or its
affiliates.  It is possible that AIMCO or its  affiliates  will make one or more
additional offers to acquire  additional  limited  partnership  interests in the
Partnership  for cash or in exchange for units in the operating  partnership  of
AIMCO. Under the Partnership  Agreement,  unitholders  holding a majority of the
Units are  entitled to take action with  respect to a variety of matters,  which
would  include  without   limitation,   voting  on  certain  amendments  to  the
Partnership  Agreement and voting to remove the General Partner.  As a result of
its  ownership  of 52.18% of the  outstanding  units,  AIMCO is in a position to
influence all voting  decisions with respect to the  Registrant.  When voting on
matters,  AIMCO would in all  likelihood  vote the Units it acquired in a manner
favorable to the interest of the General  Partner  because of their  affiliation
with the General Partner.

<PAGE>

Item 6.  Management's Discussion and Analysis or Plan of Operation

The  matters  discussed  in this Form  10-KSB  contain  certain  forward-looking
statements  and  involve  risks and  uncertainties  (including  changing  market
conditions, competitive and regulatory matters, etc.) detailed in the disclosure
contained  in this Form 10-KSB and the other  filings  with the  Securities  and
Exchange  Commission made by the Registrant from time to time. The discussion of
the Registrant's business and results of operations,  including  forward-looking
statements pertaining to such matters, does not take into account the effects of
any changes to the Registrant's business and results of operation.  Accordingly,
actual   results   could  differ   materially   from  those   projected  in  the
forward-looking  statements as a result of a number of factors,  including those
identified herein.

This  item  should  be read  in  conjunction  with  the  consolidated  financial
statements and other items contained elsewhere in this report.

Results of Operations

The Partnership realized net income of approximately  $29,000 for the year ended
December 31, 2000,  compared to net income of  approximately  $2,534,000 for the
year  ended  December  31,  1999.  The  decrease  in  net  income  is  primarily
attributable to a decrease in total revenues  resulting from the gain recognized
during 1999 from the sale of Vista Hills Apartments. The gain recognized in 1999
was partially offset by the loss on early extinguishment of debt recognized upon
the sale of the property.  On March 1, 1999, Vista Hills Apartments,  located in
El Paso,  Texas, was sold to an unaffiliated  third party for $5,150,000.  After
closing  expenses  of  approximately  $96,000 the net  proceeds  received by the
Partnership  were  approximately  $5,054,000.  The Partnership  used most of the
proceeds  from  the sale of the  property  to repay  the  debt  encumbering  the
property of  approximately  $3,627,000.  The sale of the property  resulted in a
gain on sale of investment  property of  approximately  $2,672,000 and a loss on
early extinguishment of debt of approximately $66,000 consisting of a prepayment
penalty and the write-off of unamortized loan costs.

Excluding the impact of the sale of Vista Hills  Apartments  and the  property's
operating results, income for 2000 increased compared to 1999 due to an increase
in total revenues at the remaining  properties,  which was partially offset by a
slight increase in total expenses.  Total revenues  increased due to an increase
in rental  income  and other  income.  Rental  income  increased  as a result of
increases in average annual rental rates partially offset by slight decreases in
occupancy at the Partnership's two remaining investment properties. Other income
increased  primarily due to increases in cable and telephone charges,  which was
partially offset by a decrease in interest income,  as a result of a decrease in
cash balances maintained in interest-bearing accounts.

Excluding the  operations of Vista Hills for both 2000 and 1999,  total expenses
increased slightly due to increases in depreciation,  operating, and general and
administrative  expenses.  Depreciation  expense increased due to an increase in
depreciable  assets  resulting  from  property   improvements  and  replacements
completed during the past twelve months.  Operating  expenses increased slightly
primarily  due  to  increased  payroll  expenses  primarily  at  Carriage  Hills
Apartments and increased tax service at Greentree  Apartments,  partially offset
by  reduced   maintenance   expenses  at  Greentree   Apartments.   General  and
administrative  expenses increased  primarily due to an increase in the costs of
services  included in the management  reimbursements  to the General  Partner as
allowed under the Partnership Agreement and increased costs incurred to appeal a
tax  assessment  in the state of  Alabama  on behalf  of the  limited  partners,
partially  offset by reduced legal  expenses as the result of the  settlement of
outstanding   litigation  cases  during  1999.  Also  included  in  general  and
administrative  expenses at both December 31, 2000 and 1999 are costs associated
with the  quarterly and annual  communications  with  investors  and  regulatory
agencies  and the  annual  audit  required  by the  Partnership  Agreement.  The
increase in total  expenses  was  partially  offset by decreases in property tax
expense and interest  expense.  The decrease in property tax expense is due to a
decrease in 2000 in the assessed  value at Carriage Hills  Apartments.  Interest
expense  decreased  due to  scheduled  principal  payments,  which  reduced  the
carrying balance of the debt encumbering the properties.

As part of the ongoing  business plan of the  Partnership,  the General  Partner
monitors the rental market  environment of each of its investment  properties to
assess the feasibility of increasing rents,  maintaining or increasing occupancy
levels and protecting the Partnership from increases in expense. As part of this
plan, the General Partner attempts to protect the Partnership from the burden of
inflation-related  increases in expenses by increasing  rents and  maintaining a
high overall occupancy level. However, due to changing market conditions,  which
can  result in the use of rental  concessions  and rental  reductions  to offset
softening market conditions, there is no guarantee that the General Partner will
be able to sustain such a plan.

Liquidity and Capital Resources

At  December  31,  2000,  the  Partnership  had  cash and  cash  equivalents  of
approximately  $158,000,  compared to  approximately  $1,088,000 at December 31,
1999. The decrease in cash and cash equivalents of approximately $930,000 is due
to approximately $892,000 of cash used in financing activities and approximately
$857,000 of cash used in investing  activities,  which was  partially  offset by
approximately  $819,000 of cash provided by operating activities.  Net cash used
in financing  activities  consisted of distributions to partners and to a lesser
extent, payments of principal made on the mortgages encumbering the Registrant's
properties.  Net  cash  used  in  investing  activities  consisted  of  property
improvements and replacements, which was slightly offset by net withdrawals from
escrow accounts  maintained by the mortgage lender. The Partnership  invests its
working capital reserves in a money market account.

The sufficiency of existing  liquid assets to meet future  liquidity and capital
expenditure   requirements   is  directly   related  to  the  level  of  capital
expenditures  required at the investment  properties to adequately  maintain the
physical  assets and other  operating needs of the Registrant and to comply with
Federal,  state, local, legal, and regulatory  requirements.  The Partnership is
currently  evaluating  the capital  improvement  needs of the  property  for the
upcoming year. The minimum amount to be budgeted is expected to be $275 per unit
or $88,275.  Additional  improvements  may be considered  and will depend on the
physical  condition  of the  properties  as well  as  replacement  reserves  and
anticipated cash flow generated by the properties.

The additional  capital  expenditures will be incurred only if cash is available
from  operations  and  Partnership  reserves.  To the extent that such  budgeted
capital improvements are completed, the Registrant's distributable cash flow, if
any, may be adversely affected at least in the short term.

The  Registrant's  current assets are thought to be sufficient for any near-term
needs  (exclusive  of capital  improvements)  of the  Registrant.  The  mortgage
indebtedness of approximately $8,645,000, net of discounts, matures October 2003
and December  2004 with balloon  payments due at maturity.  The General  Partner
will attempt to refinance such indebtedness  and/or sell the properties prior to
such  maturity  dates.  If the  properties  cannot be  refinanced  or sold for a
sufficient  amount,  the  Registrant  will risk losing such  properties  through
foreclosure.

Cash  distributions of  approximately  $780,000 were paid to the partners during
the year ended  December  31,  2000,  $130,000  (approximately  $129,000  to the
limited partners or $6.93 per limited  partnership unit) of which was related to
a  distribution  from  operations  payable at December 31, 1999.  The  remaining
$650,000  (approximately $643,000 to the limited partners, or $34.52 per limited
partnership  unit) was from  operations  for the year ended  December  31, 2000.
During  the  year  ended  December  31,  1999,  distributions  of  approximately
$1,610,000  (approximately  $1,436,000  to the limited  partners,  or $77.10 per
limited  partnership  unit) were paid from the sales  proceeds  from the sale of
Vista Hills  Apartments  (approximately  $990,000 to the  limited  partners,  or
$53.15 per limited partnership unit) and operations  (approximately  $446,000 to
the limited partners, or $23.95 per limited partnership unit) for the year ended
December 31, 1999. The  distribution  from surplus funds included  approximately
$154,000 paid to the General Partner as an incentive  distribution upon the sale
of Vista Hills  Apartments.  The General Partner  received a disposition fee for
which it was  entitled  upon the sale of Vista  Hills  Apartments.  Future  cash
distributions  will depend on the levels of net cash generated from  operations,
the   availability  of  cash  reserves  and  the  timing  of  debt   maturities,
refinancings,  and/or property sales.  The Registrant's  distribution  policy is
reviewed on a quarterly  basis.  There can be no  assurance,  however,  that the
Partnership  will  generate  sufficient  funds from  operations,  after  planned
capital expenditures,  to permit any additional distributions to its partners in
2001 or subsequent periods.  Distributions may be restricted by the requirements
to deposit  net  operating  income (as  defined in the  mortgage  note) into the
Reserve  Account until the Reserve  Account is funded in an amount equal to $200
to $400 per apartment  unit for Greentree  Apartments  for a total of $35,600 to
$71,200.  As of December 31, 2000, the Partnership has deposits of approximately
$69,000 in the reserve account.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates  currently own 9,718 limited  partnership
units in the Partnership  representing 52.18% of the outstanding units. A number
of these  units were  acquired  pursuant  to tender  offers made by AIMCO or its
affiliates.  It is possible that AIMCO or its  affiliates  will make one or more
additional offers to acquire  additional  limited  partnership  interests in the
Partnership  for cash or in exchange for units in the operating  partnership  of
AIMCO. Under the Partnership  Agreement,  unitholders  holding a majority of the
Units are  entitled to take action with  respect to a variety of matters,  which
would  include  without   limitation,   voting  on  certain  amendments  to  the
Partnership  Agreement and voting to remove the General Partner.  As a result of
its  ownership  of 52.18% of the  outstanding  units,  AIMCO is in a position to
influence all voting  decisions with respect to the  Registrant.  When voting on
matters,  AIMCO would in all  likelihood  vote the Units it acquired in a manner
favorable to the interest of the General Partner because of its affiliation with
the General Partner.


<PAGE>


Item 7.  Financial Statements


ANGELES PARTNERS X

LIST OF FINANCIAL STATEMENTS

      Report of Ernst & Young LLP, Independent Auditors

      Consolidated Balance Sheet - December 31, 2000

      Consolidated  Statements of  Operations - Years ended  December 31, 2000
      and 1999

      Consolidated  Statements  of Changes in  Partners'  Deficit - Years  ended
      December 31, 2000 and 1999

      Consolidated  Statements  of Cash Flows - Years ended  December 31, 2000
      and 1999

      Notes to Consolidated Financial Statements


<PAGE>


              Report of Ernst & Young LLP, Independent Auditors









The Partners
Angeles Partners X


We have audited the accompanying  consolidated balance sheet of Angeles Partners
X  as  of  December  31,  2000,  and  the  related  consolidated  statements  of
operations,  changes in  partners'  deficit,  and cash flows for each of the two
years in the period ended December 31, 2000. These financial  statements are the
responsibility of the Partnership's management. Our responsibility is to express
an opinion on these financial statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted
in the United States. Those standards require that we plan and perform the audit
to obtain reasonable  assurance about whether the 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 the  Partnership's  management,  as  well  as  evaluating  the  overall
financial  statement  presentation.   We  believe  that  our  audits  provide  a
reasonable basis for our opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material respects, the consolidated financial position of Angeles Partners X
at December 31, 2000,  and the  consolidated  results of its  operations and its
cash flows for each of the two years in the period ended  December 31, 2000,  in
conformity with accounting principles generally accepted in the United States.





                                                         /s/ ERNST & YOUNG LLP


Greenville, South Carolina
March 2, 2001


<PAGE>





                               ANGELES PARTNERS X

                           CONSOLIDATED BALANCE SHEET
                       (in thousands, except unit data)

                                December 31, 2000

<TABLE>
<CAPTION>

Assets
<S>                                                             <C>          <C>
   Cash and cash equivalents                                                 $   158
   Receivables and deposits                                                       86
   Restricted escrows                                                             89
   Other assets                                                                  195
   Investment properties (Notes D and G):
      Land                                                     $  312
      Buildings and related personal property                    9,883
                                                                10,195
      Less accumulated depreciation                             (7,088)        3,107
                                                                            $  3,635

Liabilities and Partners' Deficit
Liabilities
   Accounts payable                                                         $    159
   Tenant security deposit liabilities                                            15
   Accrued property taxes                                                         10
   Other liabilities                                                             131
   Mortgage notes payable (Note D)                                             8,645

Partners' Deficit
   General partner                                            $   (245)
   Limited partners (18,625 units issued and
      outstanding)                                              (5,080)      (5,325)

                                                                            $ 3,635

        See Accompanying Notes to Consolidated Financial Statements
</TABLE>


<PAGE>



                               ANGELES PARTNERS X

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                       (in thousands, except unit data)

                                                                   Year Ended
                                                                  December 31,
                                                         2000        1999
Revenues:
   Rental income                                        $ 2,314   $ 2,440
   Other income                                             178       180
   Gain on sale of investment property (Note C)              --     2,672
      Total revenues                                      2,492     5,292

Expenses:
   Operating                                                902     1,034
   General and administrative                               241       206
   Depreciation                                             454       460
   Interest                                                 687       802
   Property taxes                                           179       190
      Total expenses                                      2,463     2,692

Income before extraordinary item                             29     2,600

Extraordinary loss on early extinguishment
   of debt (Note C)                                          --       (66)
Net income                                              $    29   $ 2,534

Net income allocated to general partners                $    --   $   178

Net income allocated to limited partners                     29     2,356

                                                        $    29   $ 2,534
Net income per limited partnership unit:
  Income before extraordinary item                      $  1.56   $130.01

  Extraordinary item                                         --     (3.51)

                                                        $  1.56   $126.50

Distributions per limited partnership unit              $ 34.52   $ 84.03

        See Accompanying Notes to Consolidated Financial Statements


<PAGE>


                               ANGELES PARTNERS X

            CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' DEFICIT
                       (in thousands, except unit data)


<TABLE>
<CAPTION>

                                         Limited
                                       Partnership    General     Limited
                                          Units       Partners   Partners     Total

<S>                                        <C>          <C>       <C>       <C>
Original capital contributions             18,714       $ 1       $18,714   $ 18,715

Partners' deficit
   at December 31, 1998                    18,625     $ (241)     $(5,257)  $ (5,498)

Distributions to partners                      --        (175)     (1,565)    (1,740)

Net income for the year ended
   December 31, 1999                           --         178       2,356      2,534

Partners' deficit at
   December 31, 1999                      18,625         (238)     (4,466)    (4,704)

Distributions to partners                      --          (7)       (643)      (650)

Net income for the year
   ended December 31, 2000                     --          --          29          29

Partners' deficit
   at December 31, 2000                    18,625      $ (245)     $(5,080)  $ (5,325)

        See Accompanying Notes to Consolidated Financial Statements
</TABLE>


<PAGE>


                               ANGELES PARTNERS X

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                (in thousands)
<TABLE>
<CAPTION>

                                                              Years Ended December 31,
                                                                  2000        1999
Cash flows from operating activities:
<S>                                                               <C>        <C>
  Net income                                                      $  29      $ 2,534
  Adjustments to reconcile net income to net
   cash provided by operating activities:
   Depreciation                                                     454          460
   Amortization of discounts and loan costs                          39           62
   Extraordinary loss on early extinguishment of debt                --           66
   Gain on sale of investment property                               --       (2,672)
   Change in accounts:
      Receivables and deposits                                      155           67
      Other assets                                                    1            2
      Accounts payable                                               55         (130)
      Tenant security deposit liabilities                             8          (24)
      Accrued property taxes                                         --         (102)
      Other liabilities                                              (5)         (95)

      Net cash provided by operating activities                     736          168

Cash flows from investing activities:
  Property improvements and replacements                           (775)        (294)
  Net withdrawals from restricted escrows                             1          272
  Proceeds from sale of investment property                          --        5,054

       Net cash (used in) provided by investing activities         (774)       5,032

Cash flows from financing activities:
  Payments on mortgage notes payable                               (112)        (119)
  Repayment of mortgage note payable                                 --       (3,627)
  Distributions to partners                                        (780)      (1,610)
  Debt extinguishment costs                                          --          (39)

       Net cash used in financing activities                       (892)      (5,395)

Net decrease in cash and cash equivalents                          (930)        (195)

Cash and cash equivalents at beginning of year                    1,088        1,283

Cash and cash equivalents at end year                            $  158       $1,088

Supplemental disclosure of cash flow information:
  Cash paid for interest                                         $  628       $  794
Supplemental disclosure of non-cash activity:
  Distribution payable                                           $   --       $  130
Supplemental disclosure of non-cash activity:
  Property improvements and replacements in accounts
   payable                                                       $   83       $  --

        See Accompanying Notes to Consolidated Financial Statements
</TABLE>


<PAGE>







                               ANGELES PARTNERS X

                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

                                December 31, 2000


Note A - Organization and Significant Accounting Policies

Organization:  Angeles  Partners  X (the  "Registrant"  or  "Partnership")  is a
publicly-held limited partnership organized under the California Uniform Limited
Partnership  Act  pursuant to a  Certificate  and Amended  Agreement  of Limited
Partnership  (hereinafter  referred to as the "Agreement")  dated June 24, 1980.
The general partner responsible for management of the Partnership's  business is
Angeles  Realty  Corporation  ("ARC"),  a  California  corporation  (hereinafter
referred to as the "General  Partner").  Effective  December  1992,  100% of the
General  Partners'  outstanding  stock was purchased by MAE GP Corporation ("MAE
GP").  Effective February 25, 1998, MAE GP merged into Insignia Properties Trust
("IPT"),  which was merged into  Apartment  Investment  and  Management  Company
("AIMCO")  effective  February  26,  1999.  Thus,  the General  Partner is now a
wholly-owned  subsidiary  of AIMCO.  The Elliott  Family  Partnership,  Ltd.,  a
California limited  partnership,  was the Non-Managing  General Partner. On June
30, 2000, the Elliott Family  Partnership  sold its remaining  interest to AIMCO
Properties,  LP, a wholly-owned subsidiary of AIMCO. The General Partner and the
Non-Managing General Partner are herein collectively referred to as the "General
Partners".  See "Note B - Transfer of Control." The director and officers of the
General  Partner  also serve as  executive  officers of AIMCO.  The  Partnership
Agreement  provides  that the  Partnership  is to terminate on December 31, 2035
unless  terminated prior to such date. The Partnership  commenced  operations on
May 12, 1981,  and completed its  acquisition  of  properties  during 1982.  The
Partnership operates two apartment properties located in Alabama and Michigan.

Principles of Consolidation:  The consolidated  financial statements include all
the accounts of the  Partnership  and its 99% limited  partnership  interests in
Cardinal Woods  Apartments,  Ltd. and Carriage AP X Ltd. The General  Partner of
the  consolidated  partnerships  is Angeles Realty  Corporation.  Angeles Realty
Corporation  may  be  removed  as  the  general  partner  of  the   consolidated
partnership by the Registrant;  therefore,  the  consolidated  partnerships  are
controlled and consolidated by the Registrant. All significant  interpartnership
balances have been eliminated.

Allocations to Partners: Net income (other than that arising from the occurrence
of a sale or  disposition)  and net loss shall be  allocated  1% to the  General
Partners  and  99% to the  Limited  Partners.  Gains  from  the  sale  or  other
disposition  of assets  shall be  allocated  as follows:  first,  to the General
Partners  to the  extent  of  any  incentive  distribution,  as  defined  in the
Partnership Agreement, to which the General Partner is entitled;  second, to the
partners in proportion to their interests in the Partnership.

Except as discussed below, the Partnership will allocate distributions 1% to the
General Partners and 99% to the Limited Partners.

Upon  the  sale or  other  disposition,  or  refinancing,  of any  asset  of the
Partnership  other than in connection with the  dissolution of the  Partnership,
the  Distributable  Net  Proceeds  thereof,  if any,  which the General  Partner
determines  are not required for support of the  operations  of the  Partnership
must be distributed: (i) first, to the General Partners and the Limited Partners
in proportion to their interests in the Partnership,  until all Limited Partners
have  received   distributions   equal  to  their  Original  Capital  Investment
Applicable to the Disposition plus their 6% additional Cumulative  Distribution;
(ii) second,  to the General  Partner in an amount equal to 4% of the  aggregate
sales price of the property  ("Incentive  Distribution");  (iii)  third,  to the
General  Partners and the Limited  Partners in proportion to their  interests in
the Partnership  until all Limited Partners shall have received their additional
4% Cumulative Distribution;  and (iv) thereafter,  the remaining proceeds of the
disposition  shall be  distributed  eighty-eight  percent  (88%) to the  Limited
Partners in proportion to their interests in the Partnership, and twelve percent
(12%) to the General Partners.

Depreciation:  Depreciation  is  provided by the  straight-line  method over the
estimated lives of the apartment  properties and related personal property.  For
Federal income tax purposes,  the  accelerated  cost recovery method is used (1)
for real property over 15 years for additions  prior to March 16, 1984, 18 years
for  additions  after  March 15,  1984 and before May 9, 1985,  and 19 years for
additions  after May 8, 1985,  and before  January 1, 1987, and (2) for personal
property over 5 years for additions prior to January 1, 1987. As a result of the
Tax Reform Act of 1986,  for  additions  after  December 31, 1986,  the modified
accelerated  cost recovery method is used for  depreciation of (1) real property
over 27 1/2 years and (2) personal property additions over 5 years.

Cash and Cash  Equivalents:  Includes cash on hand and in banks and money market
accounts.  At certain  times,  the amount of cash deposited at a bank may exceed
the limit on insured deposits.  Cash balances include approximately  $140,000 at
December 31, 2000 that is  maintained  by an  affiliated  management  company on
behalf of affiliated entities in cash concentration accounts.

Tenant  Security  Deposits:  The  Partnership  requires  security  deposits from
lessees  for the  duration  of the lease,  and such  deposits  are  included  in
receivables  and  deposits.  The security  deposits are refunded when the tenant
vacates,  provided  the tenant has not  damaged  its space and is current on its
rental payments.

Investment Properties:  Investment properties consist of two apartment complexes
and are  stated  at cost.  Acquisition  fees are  capitalized  as a cost of real
estate. In accordance with Statement of Financial  Accounting Standards ("SFAS")
No. 121,  "Accounting for the Impairment of Long-Lived Assets and for Long-Lived
Assets  to be  Disposed  Of",  the  Partnership  records  impairment  losses  on
long-lived assets used in operations when events and circumstances indicate that
the assets might be impaired  and the  undiscounted  cash flows  estimated to be
generated by those assets are less than the  carrying  amounts of those  assets.
Costs of apartment  properties  that have been  permanently  impaired  have been
written down to appraised  value.  No  adjustments  for impairment of value were
recorded in the years ended December 31, 2000 or 1999.

Restricted Escrows:

      Reserve  Account:  A general  reserve  account  was  established  with the
      refinancing   proceeds  for   Greentree   Apartments.   These  funds  were
      established  to cover  necessary  repairs  and  replacements  of  existing
      improvements,  debt service,  out-of-pocket expenses incurred for ordinary
      and necessary administrative tasks, and payment of real property taxes and
      insurance premiums. Distributions may be restricted by the requirements to
      deposit net  operating  income (as defined in the mortgage  note) into the
      Reserve  Account until the Reserve Account is funded in an amount equal to
      $200 to $400 per apartment  unit for Greentree  Apartments  for a total of
      $35,600 to $71,200.  As of December 31, 2000, the Partnership has deposits
      of approximately $69,000 in the reserve account. Reserve accounts are also
      maintained  for  Carriage  Hills  Apartments.  Reserve  escrows  for  both
      properties totaled approximately $89,000 at December 31, 2000.

Loan Costs: Loan costs of approximately  $302,000 less accumulated  amortization
of  approximately  $183,000,  are included in other  assets in the  accompanying
consolidated  balance sheet.  Loan costs are amortized on a straight-line  basis
over the life of the loans and the amortization is included in interest expense.

Leases: The Partnership  generally leases apartment units for twelve month terms
or less. The Partnership recognizes income as earned on its leases. In addition,
the General Partner's policy is to offer rental concessions during  particularly
slow months or in response to heavy  competition from other similar complexes in
the area. Concessions are charged against rental income as incurred.

Use of Estimates:  The  preparation of 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.

Fair Value of Financial Instruments: SFAS No. 107, "Disclosures about Fair Value
of  Financial  Instruments",  as amended  by SFAS No.  119,  "Disclosures  about
Derivative  Financial  Instruments  and Fair  Value of  Financial  Instruments",
requires  disclosure  of fair value  information  about  financial  instruments,
whether or not recognized in the balance  sheet,  for which it is practicable to
estimate  fair  value.  Fair value is defined in the SFAS as the amount at which
the  instruments  could be exchanged in a current  transaction  between  willing
parties,  other than in a forced or liquidation  sale. The Partnership  believes
that the  carrying  amount of its  financial  instruments  (except for long term
debt)  approximates  their fair value due to the short  term  maturity  of these
instruments.  The  fair  value  of  the  Partnership's  long  term  debt,  after
discounting the scheduled loan payments to maturity,  approximates  its carrying
balance.

Segment Reporting: SFAS No. 131, "Disclosure about Segments of an Enterprise and
Related  Information"  established  standards  for the way that public  business
enterprises  report  information  about operating  segments in annual  financial
statements and requires that those enterprises report selected information about
operating segments in interim financial reports.  It also establishes  standards
for related disclosures about products and services, geographic areas, and major
customers.  As defined in SFAS No. 131, the  Partnership has only one reportable
segment.  The General Partner believes that  segment-based  disclosures will not
result  in a  more  meaningful  presentation  than  the  consolidated  financial
statements as currently presented.

Advertising  Costs:  The  Partnership  expenses  the  costs  of  advertising  as
incurred.  Advertising costs of approximately $52,000 and $66,000, for the years
ended  December  31,  2000 and 1999,  respectively,  were  charged to  operating
expense as incurred.

Note B - Transfer of Control

Pursuant  to a series  of  transactions  which  closed  on  October  1, 1998 and
February  26,  1999,  Insignia  Financial  Group and IPT merged  into  AIMCO,  a
publicly  traded real estate  investment  trust,  with AIMCO being the surviving
corporation.  As a result,  AIMCO  acquired  a 100%  ownership  interest  in the
General Partner.  The General Partner does not believe that this transaction has
had or  will  have a  material  effect  on the  affairs  and  operations  of the
Partnership.

Note C - Disposition of Investment Property

On March 1, 1999, Vista Hills Apartments, located in El Paso, Texas, was sold to
an  unaffiliated   third  party  for  $5,150,000.   After  closing  expenses  of
approximately  $96,000  the  net  proceeds  received  by  the  Partnership  were
approximately  $5,054,000.  The  Partnership  used most of the proceeds from the
sale of the property to repay the debt encumbering the property of approximately
$3,627,000.  The  sale of  property  resulted  in a gain  on sale of  investment
property of approximately  $2,672,000 and a loss on early extinguishment of debt
of approximately $66,000 consisting of a prepayment penalty and the write off of
unamortized  loan costs.  Revenues from Vista Hills  Apartments  included in the
accompanying  consolidated  statements of operations  were $164,000 for the year
ended December 31, 1999.


<PAGE>



Note D - Mortgage Notes Payable

<TABLE>
<CAPTION>

                            Principal       Monthly                            Principal
                            Balance At      Payment                             Balance
                           December 31,    Including   Interest   Maturity      Due At
Property                       2000        Interest      Rate       Date       Maturity
                                 (in thousands)                             (in thousands)

Greentree Apartments
<S>                          <C>              <C>        <C>       <C>        <C>
  1st mortgage               $ 3,318          27         7.83%     10/03      $3,135
  2nd mortgage                   113           1         7.83%     10/03         113

Carriage Hills
  Apartments
  1st mortgage                 5,235          37         7.39%     12/04       4,958
                               8,666         $65
Less unamortized
  discounts at a rate
  of 8.13% (a)                   (21)

     Total                   $ 8,645                                          $8,206
</TABLE>

(a)  An interest rate  buy-down was  exercised  for Greentree  when the debt was
     refinanced.  The fee for the interest rate  reductions  amounted to $73,700
     and is being  amortized as a mortgage  discount on the interest method over
     the life of the loan.  The  unamortized  discount  fees are  reflected as a
     reduction of the note payable and increase the  effective  rate of the debt
     to 8.13%.

Scheduled  principal  payments of mortgage notes payable  subsequent to December
31, 2000, are as follows (in thousands):

                                2001            $  126
                                2002               135
                                2003             3,375
                                2004             5,030
                                                $8,666

The  mortgage  notes  payable are  nonrecourse  and are secured by pledge of the
respective  properties  and by a  pledge  of  revenues  from  operations  of the
respective properties. Certain of the mortgage notes impose prepayment penalties
if repaid prior to maturity.  Further, the properties may not be sold subject to
existing indebtedness.

Note E - Income Taxes

The Partnership has received a ruling from the Internal  Revenue Service that it
will  be  classified  as  a  partnership   for  Federal   income  tax  purposes.
Accordingly,  no provision for income taxes is made in the financial  statements
of the Partnership. Taxable income or loss of the Partnership is reported in the
income tax returns of its partners.

The  following is a  reconciliation  of reported net income and Federal  taxable
income (in thousands):

                                          2000          1999

Net income as reported                  $    29       $ 2,534
Add (deduct):
     Depreciation differences               238           259
     Unearned income                          7           (56)
     Amortization                            --           (76)
     Gain on sale                            --         1,125
     Other                                  (28)           68
     Mortgage discount                       (8)           --

Federal taxable income                  $   238       $ 3,854

Federal taxable income per
     limited partnership unit           $ 15.39       $180.56

The  following  is  a   reconciliation   at  December  31,  2000,   between  the
Partnership's  reported  amounts  and  Federal  tax  basis  of  net  assets  and
liabilities (in thousands):

Net liabilities - as reported         $ (5,325)
 Land and buildings                      1,615
 Accumulated depreciation               (2,073)
 Syndication fees                        2,071
 Other                                     104
Net liabilities - Federal tax basis   $ (3,608)

Note F - Transactions with Affiliated Parties

The Partnership has no employees and is dependent on the General Partner and its
affiliates for the management and administration of all Partnership  activities.
The Partnership  Agreement  provides for (i) payments to affiliates for services
and (ii)  reimbursement of certain expenses  incurred by affiliates on behalf of
the  Partnership.  The  following  payments  were made or accrued to the General
Partner and affiliates during the years ended December 31, 2000 and 1999:

                                                               2000      1999
                                                               (in thousands)

Property management fees (included in operating expenses)     $ 124     $ 134

Reimbursement for services of affiliates (included in
 operating, general and administrative expenses,
 and investment properties)                                     178        58
Partnership management fee (included in general and
 Administrative expense)                                          3         5

Incentive distribution to General Partner                        --       154

During the years ended  December  31, 2000 and 1999,  affiliates  of the General
Partner  were  entitled  to  receive  5% of  gross  receipts  from  all  of  the
Registrant's   properties  for  providing  property  management  services.   The
Registrant paid to such affiliates  approximately  $124,000 and $134,000 for the
years ended December 31, 2000 and 1999, respectively.

An  affiliate  of the General  Partner  received  reimbursement  of  accountable
administrative  expenses amounting to approximately $178,000 and $58,000 for the
years ended December 31, 2000 and 1999, respectively. Included in these expenses
for the years ended  December  31, 2000 and 1999 are  approximately  $44,000 and
$18,000, respectively, in reimbursements for construction oversight costs.

Pursuant  to the  Partnership  Agreement,  the  General  Partner is  entitled to
receive a distribution  equal to 4% of the aggregate  disposition  price of sold
properties.  The  Partnership  paid a distribution  of $154,000,  to the General
Partner related to the sale of Vista Hills Apartments in 1999. This distribution
is  subordinate  to  the  limited  partners  receiving  their  original  capital
contributions  plus a  cumulative  preferred  return  of 6% per  annum  of their
adjusted capital  investment,  as defined in the Partnership  Agreement.  If the
limited   partners  have  not  received  these  returns  when  the   Partnership
terminates, the General Partner will return this amount to the Partnership.

A management fee of  approximately  $3,000 and $5,000 was accrued to the General
Partner for the years ended December 31, 2000 and 1999 relating to net cash from
operations as defined in the Partnership Agreement.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates  currently own 9,718 limited  partnership
units in the Partnership  representing 52.18% of the outstanding units. A number
of these  units were  acquired  pursuant  to tender  offers made by AIMCO or its
affiliates.  It is possible that AIMCO or its  affiliates  will make one or more
additional offers to acquire  additional  limited  partnership  interests in the
Partnership  for cash or in exchange for units in the operating  partnership  of
AIMCO. Under the Partnership  Agreement,  unitholders  holding a majority of the
Units are  entitled to take action with  respect to a variety of matters,  which
would  include  without   limitation,   voting  on  certain  amendments  to  the
Partnership  Agreement and voting to remove the General Partner.  As a result of
its  ownership  of 52.18% of the  outstanding  units,  AIMCO is in a position to
influence all voting  decisions with respect to the  Registrant.  When voting on
matters,  AIMCO would in all  likelihood  vote the Units it acquired in a manner
favorable to the interest of the General Partner because of its affiliation with
the General Partner.


<PAGE>



Note G - Investment Properties and Accumulated Depreciation

<TABLE>
<CAPTION>

                                                  Initial Cost
                                                 To Partnership
                                                 (in thousands)

                                                         Buildings         Cost
                                                        and Related     Capitalized
                                                          Personal     Subsequent to
        Description           Encumbrances     Land       Property      Acquisition
                             (in thousands)                           (in thousands)

<S>                             <C>         <C>           <C>            <C>
Greentree Apartments            $ 3,431     $   211       $ 3,345        $ 1,166
Carriage Hills Apartments         5,235         101         3,509          1,863
  Totals                        $ 8,666     $   312       $ 6,854        $ 3,029
</TABLE>

                       Gross Amount At Which Carried
                         At December 31, 2000
                            (in thousands)
<TABLE>
<CAPTION>

                            Buildings
                           And Related
                            Personal             Accumulated    Date of      Date   Depreciable
    Description      Land   Property     Total   Depreciation Construction Acquired Life-Years
                                                (in thousands)
<S>                  <C>     <C>       <C>         <C>           <C>       <C>        <C>
Greentree Apartments $ 211   $ 4,511   $ 4,722     $ 3,733       8/74      12/31/81    5-25
Carriage Hill          101     5,372     5,473       3,355       6/72       7/30/82    5-25
  Apartments
  Totals             $ 312   $ 9,883   $10,195     $ 7,088
</TABLE>

Reconciliation of "Real Estate and Accumulated Depreciation":

                                                Years Ended December 31,
                                                  2000            1999
                                                     (in thousands)

Investment Properties

Balance at beginning of year                   $ 9,337          $15,232
    Dispositions of property                        --           (6,189)
    Property improvements                          858              294

Balance at end of year                         $10,195          $ 9,337

Accumulated Depreciation

Balance at beginning of year                   $ 6,634          $ 9,981
    Depreciation expense                           454              460
    Dispositions of property                        --           (3,807)

Balance at end of year                         $ 7,088          $ 6,634

The  aggregate  cost of the real  estate  for  Federal  income tax  purposes  at
December  31,  2000 and 1999,  is  approximately  $11,810,000  and  $10,952,000,
respectively.  The  accumulated  depreciation,  taken  for  Federal  income  tax
purposes  at  December  31,  2000 and  1999,  is  approximately  $9,161,000  and
$8,944,000, respectively.

Note H - Distributions

Cash  distributions of  approximately  $780,000 were paid to the partners during
the year ended  December  31,  2000,  $130,000  (approximately  $129,000  to the
limited partners or $6.93 per limited  partnership unit) of which was related to
a  distribution  from  operations  payable at December 31, 1999.  The  remaining
$650,000  (approximately $643,000 to the limited partners, or $34.52 per limited
partnership  unit) was from  operations  for the year ended  December  31, 2000.
During  the  year  ended  December  31,  1999,  distributions  of  approximately
$1,610,000  (approximately  $1,436,000  to the limited  partners,  or $77.10 per
limited  partnership  unit) were paid from the sales  proceeds  from the sale of
Vista Hills  Apartments  (approximately  $990,000 to the  limited  partners,  or
$53.15 per limited partnership unit) and operations  (approximately  $446,000 to
the limited partners, or $23.95 per limited partnership unit) for the year ended
December 31, 1999. The  distribution  from surplus funds included  approximately
$154,000 paid to the General Partner as an incentive  distribution upon the sale
of Vista Hills  Apartments.  The General Partner  received a disposition fee for
which it was entitled upon the sale of Vista Hills Apartments.

Note I - Legal Proceedings

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial  Group,  Inc., et al. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the   Partnership,   its  General  Partner  and  several  of  their   affiliated
partnerships  and corporate  entities.  The action  purports to assert claims on
behalf of a class of limited  partners and derivatively on behalf of a number of
limited  partnerships  (including  the  Partnership)  which are named as nominal
defendants,  challenging the acquisition of interests in certain general partner
entities by Insignia Financial Group, Inc. ("Insignia") and entities which were,
at one  time,  affiliates  of  Insignia;  past  tender  offers  by the  Insignia
affiliates to acquire limited  partnership units; the management of partnerships
by the  Insignia  affiliates;  and the  Insignia  Merger.  The  plaintiffs  seek
monetary damages and equitable  relief,  including  judicial  dissolution of the
Partnership.  On June 25,  1998,  the  General  Partner  filed a motion  seeking
dismissal of the action.  In lieu of  responding to the motion,  the  plaintiffs
have filed an amended  complaint.  The General  Partner  filed  demurrers to the
amended complaint which were heard February 1999.

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims, subject to court approval, on behalf of the Partnership and all
limited partners who owned units as of November 3, 1999. Preliminary approval of
the  settlement  was obtained on November 3, 1999 from the Court,  at which time
the Court set a final  approval  hearing for  December  10,  1999.  Prior to the
December  10,  1999  hearing,  the  Court  received  various  objections  to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December  14,  1999,  the General  Partner  and its  affiliates  terminated  the
proposed settlement.  In February 2000, counsel for some of the named plaintiffs
filed a motion to disqualify plaintiff's lead and liaison counsel who negotiated
the settlement.  On June 27, 2000, the Court entered an order disqualifying them
from the case and an appeal was taken  from the order on  October  5,  2000.  On
December 4, 2000, the Court  appointed the law firm of Lieff Cabraser  Heimann &
Bernstein  LLP as new  lead  counsel  for  plaintiffs  and the  putative  class.
Plaintiffs  filed a third  amended  complaint on January 19,  2001.  On March 2,
2001,  the  General  Partner  and its  affiliates  filed a demurrer to the third
amended complaint. The General Partner does not anticipate that costs associated
with this case will be material to the Partnership's overall operations.

The Partnership is a party to certain legal actions resulting from its operating
activities.  These actions are routine litigation and administrative proceedings
arising in the  ordinary  course of business  and none of which are  expected to
have a  material  adverse  effect on the  consolidated  financial  condition  or
results of operations of the Partnership.


<PAGE>



Item 8.  Changes  in and  Disagreements  with  Accountant  on  Accounting  and
         Financial Disclosures

         None.


<PAGE>



                                    PART III


Item 9.  Directors,   Executive  Officers,   Promoters  and  Control  Persons;
Compliance  with Section 16(a) of the Exchange Act

The Registrant has no officers or directors.

The  names  and ages of,  as well as the  positions  and  offices  held by,  the
executive  officers  and  director  of  the  General  Partner,   Angeles  Realty
Corporation,  are set forth below. There are no family relationships  between or
among any officers and directors.

Name                        Age    Position

Patrick J. Foye              43    Executive Vice President and Director
Martha L. Long               41    Senior Vice President and Controller

Patrick J. Foye has been  Executive Vice President and Director of the General
Partner  since  October  1,  1998.  Mr.  Foye has  served  as  Executive  Vice
President  of AIMCO  since May 1998.  Prior to joining  AIMCO,  Mr. Foye was a
partner in the law firm of Skadden,  Arps, Slate, Meagher & Flom LLP from 1989
to 1998 and was Managing Partner of the firm's  Brussels,  Budapest and Moscow
offices from 1992 through 1994.  Mr. Foye is also Deputy  Chairman of the Long
Island  Power  Authority  and  serves  as a  member  of  the  New  York  State
Privatization  Council.  He received a B.A.  from  Fordham  College and a J.D.
from Fordham University Law School.

Martha L. Long has been  Senior Vice  President  and  Controller  of the General
Partner since October 1998 as a result of the acquisition of Insignia  Financial
Group, Inc. As of February 2001, Ms. Long was also appointed head of the service
business for AIMCO.  From June 1994 until January 1997,  she was the  Controller
for Insignia, and was promoted to Senior Vice President - Finance and Controller
in January 1997,  retaining  that title until  October  1998.  From 1988 to June
1994,  Ms. Long was Senior Vice  President and  Controller for The First Savings
Bank, FSB in Greenville, South Carolina.

One or more of the above persons are also directors and/or officers of a general
partner (or general partner of a general partner) of limited  partnerships which
either have a class of  securities  registered  pursuant to Section 12(g) of the
Securities Exchange Act of 1934, or are subject to the reporting requirements of
Section  15(d) of such Act.  Further,  one or more of the above persons are also
directors and/or officers of Apartment Investment and Management Company and the
general  partner  of  AIMCO  Properties,  L.P.,  entities  that  have a class of
securities  registered  pursuant to Section 12(g) of the Securities Exchange Act
of 1934, or are subject to the reporting  requirements of Section 15 (d) of such
Act.

The  executive  officers  and  director  of  the  General  Partner  fulfill  the
obligations  of the Audit  Committee  and  oversee the  Partnership's  financial
reporting  process on behalf of the General Partner.  Management has the primary
responsibility for the financial  statements and the reporting process including
the systems of internal controls. In fulfilling its oversight  responsibilities,
the executive  officers and director of the General Partner reviewed the audited
financial  statements with management including a discussion of the quality, not
just the  acceptability,  of the accounting  principles,  the  reasonableness of
significant  judgments,   and  the  clarity  of  disclosures  in  the  financial
statements.

The  executive  officers and director of the General  Partner  reviewed with the
independent  auditors,  who are  responsible  for  expressing  an opinion on the
conformity  of  those  audited  financial  statements  with  generally  accepted
accounting  principles,  their  judgments  as  to  the  quality,  not  just  the
acceptability, of the Partnership's accounting principles and such other matters
as are required to be discussed with the Audit Committee or its equivalent under
generally  accepted  auditing  standards.   In  addition,  the  Partnership  has
discussed  with  the  independent  auditors  the  auditors'   independence  from
management and the Partnership  including the matters in the written disclosures
required by the Independence Standards Board and considered the compatibility of
non-audit services with the auditors' independence.

The executive  officers and director of the General  Partner  discussed with the
Partnership's  independent auditors the overall scope and plans for their audit.
In  reliance on the reviews and  discussions  referred to above,  the  executive
officers and director of the General  Partner has approved the  inclusion of the
audited financial  statements in the Form 10-KSB for the year ended December 31,
2000 for filing with the Securities and Exchange Commission.

The General Partner has reappointed Ernst & Young LLP as independent auditors to
audit the financial  statements of the  Partnership for the current fiscal year.
Fees for the last  fiscal  year were  annual  audit  services  of  approximately
$36,000  and  non-audit  services  (principally  tax-related)  of  approximately
$19,000.

Item 10. Executive Compensation

None  of  the  directors  and  officers  of the  General  Partner  received  any
remuneration from the Registrant.

Item 11. Security Ownership of Certain Beneficial Owners and Management

Except as noted below, no person or entity was known by the Registrant to be the
beneficial  owner of more than 5% of the Limited Partner Units of the Registrant
as of December 31, 2000.

Entity                                  Number of Units      Percentage

Insignia Properties LP                         135               .72%
(an affiliate of AIMCO)
Cooper River Properties, LLC                 3,784             20.32%
(an affiliate of AIMCO)
AIMCO Properties, LP                         5,799             31.14%
(an affiliate of AIMCO)

Cooper  River  Properties,  LLC  and  Insignia  Properties  LP,  are  indirectly
ultimately  owned  by  AIMCO.  Their  business  address  is  55  Beattie  Place,
Greenville, SC 29602.

AIMCO Properties LP is indirectly  ultimately  controlled by AIMCO. Its business
address is 2000 South Colorado Boulevard, Denver, Colorado 80222.

Item 12. Certain Relationships and Related Transactions

The Partnership has no employees and is dependent on the General Partner and its
affiliates for the management and administration of all Partnership  activities.
The Partnership  Agreement  provides for (i) payments to affiliates for services
and (ii)  reimbursement of certain expenses  incurred by affiliates on behalf of
the  Partnership.  The  following  payments  were made or accrued to the General
Partner and affiliates during the years ended December 31, 2000 and 1999:

                                                               2000      1999
                                                               (in thousands)

Property management fees                                      $ 124     $ 134

Reimbursement for services of affiliates                        178        58
Partnership management fee                                        3         5

Incentive distribution to General Partner                        --       154

During the years ended  December  31, 2000 and 1999,  affiliates  of the General
Partner  were  entitled  to  receive  5% of  gross  receipts  from  all  of  the
Registrant's   properties  for  providing  property  management  services.   The
Registrant paid to such affiliates  approximately  $124,000 and $134,000 for the
years ended December 31, 2000 and 1999, respectively.

An  affiliate  of the General  Partner  received  reimbursement  of  accountable
administrative  expenses amounting to approximately $178,000 and $58,000 for the
years ended December 31, 2000 and 1999, respectively. Included in these expenses
for the years ended  December  31, 2000 and 1999 are  approximately  $44,000 and
$18,000, respectively, in reimbursements for construction oversight costs.

Pursuant  to the  Partnership  Agreement,  the  General  Partner is  entitled to
receive a distribution  equal to 4% of the aggregate  disposition  price of sold
properties.  The  Partnership  paid a distribution  of $154,000,  to the General
Partner related to the sale of Vista Hills Apartments in 1999. This distribution
is  subordinate  to  the  limited  partners  receiving  their  original  capital
contributions  plus a  cumulative  preferred  return  of 6% per  annum  of their
adjusted capital  investment,  as defined in the Partnership  Agreement.  If the
limited   partners  have  not  received  these  returns  when  the   Partnership
terminates, the General Partner will return this amount to the Partnership.

A management fee of  approximately  $3,000 and $5,000 was accrued to the General
Partner for the years ended December 31, 2000 and 1999 relating to net cash from
operations as defined in the Partnership Agreement.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates  currently own 9,718 limited  partnership
units in the Partnership  representing 52.18% of the outstanding units. A number
of these  units were  acquired  pursuant  to tender  offers made by AIMCO or its
affiliates.  It is possible that AIMCO or its  affiliates  will make one or more
additional offers to acquire  additional  limited  partnership  interests in the
Partnership  for cash or in exchange for units in the operating  partnership  of
AIMCO. Under the Partnership  Agreement,  unitholders  holding a majority of the
Units are  entitled to take action with  respect to a variety of matters,  which
would  include  without   limitation,   voting  on  certain  amendments  to  the
Partnership  Agreement and voting to remove the General Partner.  As a result of
its  ownership  of 52.18% of the  outstanding  units,  AIMCO is in a position to
influence all voting  decisions with respect to the  Registrant.  When voting on
matters,  AIMCO would in all  likelihood  vote the Units it acquired in a manner
favorable to the interest of the General Partner because of its affiliation with
the General Partner.


<PAGE>


                                     PART IV


Item 13. Exhibits and Reports on Form 8-K

         (a)   Exhibits:

               None.

         (b)   Reports on Form 8-K filed  during the fourth  quarter of calendar
               year 2000:

               None.


<PAGE>


                                   SIGNATURES



In accordance  with Section 13 or 15(d) of the Exchange Act, the  Registrant has
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.



                                 ANGELES PARTNERS X


                                 By:     Angeles Realty Corporation
                                         Its General Partner

                                 By:     /s/Patrick J. Foye
                                         Patrick J. Foye
                                         Executive Vice President

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

                                 Date:

In  accordance  with the Exchange  Act, this report has been signed below by the
following  persons on behalf of the Registrant and in the capacities on the date
indicated.

/s/Patrick J. Foye        Executive Vice President    Date:
Patrick J. Foye           and Director


/s/Martha L. Long         Senior Vice President       Date:
Martha L. Long            and Controller


<PAGE>



                                  EXHIBIT INDEX


Exhibit Number    Description

      2.1         Agreement and Plan of Merger,  dated as of October 1, 1998, by
                  and  between  AIMCO  and IPT  (incorporated  by  reference  to
                  Exhibit  2.1 of IPT's  Current  Report on Form  8-K,  File No.
                  1-14179, dated October 1, 1998).

      3.1         Amended Certificate and Agreement of Limited Partnership dated
                  June 24, 1980,  filed in Form 10-K dated October 31, 1982, and
                  is incorporated herein by reference.

      10.1        Purchase and Sale  Agreement  with  Exhibits - Cardinal  Woods
                  filed in Form 8-K dated  October 30, 1981 and is  incorporated
                  herein by reference.

      10.2        Purchase  and  Sale   Agreement   with  Exhibits  -  Greentree
                  Apartments  filed in Form 8-K dated  December  31, 1981 and is
                  incorporated herein by reference.

      10.4        Purchase and Sale  Agreement  with  Exhibits - Carriage  Hills
                  Apartments  filed  in  Form  8-K  dated  July  30,  1982,  and
                  incorporated herein by reference.

      10.5        Third Trust Deed Mortgage - Carriage Hills  Apartments,  filed
                  in Form 10-K,  Exhibit  10.11 dated  December  31, 1990 and is
                  incorporated herein by reference.

      10.6        Second Trust Deed Mortgage - Vista Hills Apartments,  filed in
                  Form 10-Q,  Exhibit  10.13,  dated  September 30, 1990, and is
                  incorporated herein by reference.

      10.7        Promissory  Note -  Greentree  Apartments,  filed  in the Form
                  10-Q,   Exhibit  10.14,   dated  September  30,  1990  and  is
                  incorporated herein by reference.

      10.8        Agreement of Sale between Angeles Partners X, Seller and Bowen
                  Ballard,  Buyer - One East/Two  East Office  Center,  filed in
                  Form  8-K,   Exhibit  I,  dated  February  15,  1991,  and  is
                  incorporated herein by reference.

      10.9        Stock Purchase  Agreement  dated November 24, 1992 showing the
                  purchase of 100% of the  outstanding  stock of Angeles  Realty
                  Corporation  by IAP GP  Corporation,  a  subsidiary  of MAE GP
                  Corporation,  filed in Form 8-K dated December 31, 1992, which
                  is incorporated herein by reference.


<PAGE>



      10.10       Contracts related to financing of debt:

             (a)  First Deeds of Trust and Security  Agreements  dated September
                  30, 1993 between Greentree  Apartments and Lexington  Mortgage
                  Company, a Virginia Corporation, securing Greentree Apartments
                  filed  in Form  10-QSB  dated  September  30,  1993,  which is
                  incorporated herein by reference.

             (b)  Second Deeds of Trust and Security  Agreements dated September
                  30, 1993, between Greentree  Apartments and Lexington Mortgage
                  Company, a Virginia Corporation, securing Greentree Apartments
                  filed  in Form  10-QSB  dated  September  30,  1993,  which is
                  incorporated herein by reference.

             (c)  First Assignments of Leases and Rents dated September 30, 1993
                  between Greentree Apartments and Lexington Mortgage Company, a
                  Virginia  Corporation,  securing Greentree Apartments filed in
                  Form 10-QSB dated  September 30, 1993,  which is  incorporated
                  herein by reference.

             (d)  Second  Assignments  of Leases and Rents dated  September  30,
                  1993  between  Greentree  Apartments  and  Lexington  Mortgage
                  Company, a Virginia Corporation, securing Greentree Apartments
                  filed  in Form  10-QSB  dated  September  30,  1993,  which is
                  incorporated herein by reference.

             (e)  First  Deeds  of  Trust  dated   September  30,  1993  between
                  Greentree Apartments and Lexington Mortgage Company,  relating
                  to Greentree  Apartments  filed in Form 10-QSB dated September
                  30, 1993, which is incorporated herein by reference.

             (f)  Second  Deeds of  Trust  dated  September  30,  1993,  between
                  Greentree Apartments and Lexington Mortgage Company,  relating
                  to Greentree  Apartments  filed in Form 10-QSB dated September
                  30, 1993, which is incorporated herein by reference.

      10.11       Contracts related to refinancing of debt:

             (a)  First Deeds of Trust and Security  Agreements  dated September
                  30, 1993 between  Greentree  Apartments,  Ltd.  and  Lexington
                  Mortgage Company, a Virginia  Corporation,  securing Greentree
                  Apartments  filed in Form 10-QSB  dated  September  30,  1993,
                  which is incorporated herein by reference.

             (b)  Second Deeds of Trust and Security  Agreements dated September
                  30, 1993 between  Greentree  Apartments,  Ltd.  and  Lexington
                  Mortgage Company, a Virginia  Corporation,  securing Greentree
                  Apartments  filed in Form 10-QSB  dated  September  30,  1993,
                  which is incorporated herein by reference.

             (c)  First  Assignments  of Leases and Rents  dated  September  30,
                  1993,  between  Greentree   Apartments,   Ltd.  and  Lexington
                  Mortgage Company, a Virginia  Corporation,  securing Greentree
                  Apartments  filed in Form 10-QSB  dated  September  30,  1993,
                  which is incorporated herein by reference.

             (d)  Second  Assignments  of Leases and Rents dated  September  30,
                  1993,  between  Greentree   Apartments,   Ltd.  and  Lexington
                  Mortgage Company, a Virginia  Corporation,  securing Greentree
                  Apartments  filed in Form 10-QSB  dated  September  30,  1993,
                  which is incorporated herein by reference.

             (e)  First Deeds of Trust Notes dated  September 30, 1993,  between
                  Greentree  Apartments,  Ltd. and Lexington  Mortgage  Company,
                  relating to  Greentree  Apartments  filed in Form 10-QSB dated
                  September 30, 1993, which is incorporated herein by reference.

             (f)  Second Deeds of Trust Notes dated September 30, 1993,  between
                  Greentree  Apartments,  Ltd. and Lexington  Mortgage  Company,
                  relating to  Greentree  Apartments  filed in Form 10-QSB dated
                  September 30, 1993, which is incorporated herein by reference.

      10.12       Contract  to  Purchase  and  Sell  dated  July 7,  1997 by and
                  between Cardinal Woods Apartments,  Ltd. a California  limited
                  partnership,  and  New  Plan  Realty  Trust,  a  Massachusetts
                  business trust, relating to Cardinal Woods Apartments filed in
                  Form 10-QSB  dated  September  30, 1997 which is  incorporated
                  herein by reference.

      10.13       Promissory  Note dated  November  20,  1997,  by and between
                  Carriage  Hills   Apartments,   Ltd.,  a  Michigan   limited
                  partnership,  and Lehman Brothers Holdings, Inc., a Delaware
                  corporation.

      10.14       Contract  of Sale of real  estate for Vista  Hills  Apartments
                  dated March 1, 1999,  between Angeles Partners X, a California
                  limited  partnership and  Transcontinental  Vista Hills,  Inc.
                  filed in Form 8-K dated March 1, 1999,  which is  incorporated
                  herein by reference.

      99A         Agreement  of Limited  Partnership  for Angeles  Partners X GP
                  Limited  Partnership  between  Angeles Realty  Corporation and
                  Angeles  Partners X, L.P.  entered into on September 15, 1993,
                  filed  in Form  10-QSB  dated  September  30,  1993,  which is
                  incorporated herein by reference.

      99B         Agreement of Limited  Partnership  of Greentree  Apartments,
                  Ltd.   between   Angeles  Realty   Corporation  and  Angeles
                  Partners X, L.P.  entered into on November 1, 1989, filed in
                  Form 10-QSB dated September 30, 1993,  which is incorporated
                  herein by reference.

      99C         Purchase  Agreement  dated  November 24, 1992,  by and among
                  Angeles Corporation,  et. al. and IAP GP Corporation and MAE
                  GP  Corporation is  incorporated  by reference to the Report
                  on Form 8-K dated December 31, 1992.